Operational Risk Management

Course details

Day One
Risk identification tools and emerging risks
· Tools and techniques for risk identification
· Risk register: a list
· Risk connectivity: network of risks
· World economic forum: risk map
· Emerging risks
Implementing ORM: the invisible framework
· Governance of Operational Risk
· 1st line and 2d line: The partnership model
· Use and reuse: The Invisible Framework
· Business value of ORM
 
Day Two
Risk reporting and Conduct reporting
· Modern issues on events and risk reporting: the regulator's view
· Analyzing operational risk data: get insight, tell a story
· Management information: the "reporting cake"
· Aggregate and escalate risk information: your options
· Conduct reporting: themes and details
Implementing the Desired Risk Culture: a method
· Defining Risk Culture
· Acting on behaviours: the Influencer 
· Necessary conditions: willingness and ability
· Risk Culture: DESIRE steps: Define, Inspire, Support, Enable, Reinforce, Evaluate
· Assessing the risk culture
 
Day Three
Defining Risk Appetite statements and tolerance limits
· Industry guidance on Risk Appetite
· Risk appetite, tolerance, risk limits and controls
· Templates and options for actionable Risk Appetite 
· Risk Appetite Statements: Features and Examples
· Cascading Risk Appetite: RCSA & Indicators
· KRI and risks limits 
Internal Controls: Human Error and Control Design
· Slips and mistakes: Typology and causes of human errors
· HRA: Human Reliability Analysis and other methods
· Understand and treat the causes of human error
· Effective or Illusory controls
· Prevention by Design
 
Day Four
Root causes analysis
· Root cause analysis: tool and method
· Benefits of root cause analysis:
· Treating causes over symptoms
· Bow-tie: a most effective tool to define:
*    Preventive and corrective controls
*    Leading KRIs
*    Risk likelihood and expected impact
· Features and types of leading KRIs 
· Features of leading KRIs
· KRI, KPI, KCI: definitions and ;
· A typology of Key Risks indicators
 
Day Five
Cyber threats and information security 
· Cyber threat landscape
· An old emerging risk
· Key controls in cyber security
· Physical and behavioural measures
· Priorities in prevention
· Lessons learnt from some incidents
Scenario Analysis: Governance, Stress testing and Assessment methods
· Four dimensions of stress-testing
· Steps and governance of scenario analysis
· Tackling behavioral biases in scenario assessment
· Industry practices and lists of scenarios
· Assessing probabilities of rare events
· Acting on Scenario Analysis
Reorganisation risk and project management 
· Risk due to changes and reorganisations 
· The trap of cost-cutting
· Invisible opportunity costs
· Essentials of project risk management
  Updated on 16 May, 2024