Operational Risk Management

Introduction

This course provides a comprehensive exploration of operational risk management, equipping professionals with the essential skills and methodologies to identify, assess, and mitigate risks within their organizations.

Objectives

• Understand the fundamental concepts of operational risk management
• Identify and assess various types of operational risks
• Develop effective risk mitigation strategies and controls
• Implement risk monitoring and reporting frameworks
• Integrate operational risk management into organizational culture and decision-making

Course Outlines

Day 1: Foundations of Operational Risk Management

• Definition and scope of operational risk
• Key principles and regulatory frameworks
• Types and sources of operational risk
• Risk management cycle and terminology
• Roles and responsibilities in risk management

Day 2: Risk Identification and Assessment

• Techniques for identifying operational risk events
• Risk assessment methodologies
• Risk indicators and metrics
• Risk mapping and heat maps
• Case studies on risk identification

Day 3: Risk Control and Mitigation Strategies

• Developing internal controls
• Risk response strategies
• Designing and implementing mitigation plans
• Business continuity and incident management
• Evaluating control effectiveness

Day 4: Risk Monitoring and Reporting

• Establishing monitoring frameworks
• Key risk indicators (KRIs) and dashboards
• Incident reporting systems
• Root cause analysis
• Risk reporting to stakeholders

Day 5: Embedding Risk Culture and Course Review

• Fostering a risk-aware organizational culture
• Training and communication strategies
• Integrating risk management into business processes
• Continuous improvement in risk management
• Course review and action planning