Risk events are not just compliance concerns—they are opportunities for organizations to learn, adapt, and strengthen controls. This hands-on workshop is designed to equip business units, risk teams, and internal auditors with the essential frameworks and tools to report, investigate, and treat operational risk events systematically. Through real-world simulations, practical templates, and interactive sessions, participants will gain clarity on how to embed effective event management and root cause analysis into daily operations and governance practices.

Overview

Operational risk events can severely impact business operations and trust. This three-day workshop teaches participants to manage the full risk event lifecycle—from reporting and root cause analysis to treatment and escalation—using tools like the 5 Whys and Fishbone Diagrams.

  Participants will learn to:

• Report and validate risk events accurately
• Conduct structured root cause analysis (RCA)
• Develop effective treatment and escalation plans.

Who should attend

This workshop is ideal for:

• Risk and compliance professionals, internal auditors, and operational leads
• First and second line staff who manage incidents or own business processes
• Managers from operations, IT, finance, procurement, and customer servicing
• Professionals involved in loss event reporting, process improvement, or control testing
• Anyone responsible for driving a speak-up culture and proactive risk response.

Methodology

This workshop uses an interactive and applied learning format, including:

• Step-by-step risk event reporting simulations
• Root cause analysis (RCA) breakout sessions
• Mitigation and escalation planning exercises
• Group case study: solving a real-world incident collaboratively.

Trainer

Led by a senior facilitator with over 35 years of experience in operational risk, governance, and internal audit. The trainer has advised financial institutions and corporates across Asia-Pacific and contributed to the development of risk event frameworks aligned with global GRC standards.

Module – 1

Understanding Risk Events in the GRC Lifecycle

• Risk vs. risk event vs. near miss
• Examples of operational risk events
• Role of risk event management in GRC
• Importance of timely and accurate reporting
  Activity: Interactive poll or short quiz (myth vs. fact)

Module – 2

Reporting, Validating & Prioritizing Risk Events

• Event submission: key information, format (manual vs. system)
• Common pitfalls in reporting
• Validating completeness and relevance
• Using scoring models: impact, likelihood, and velocity
• Risk matrix and scorecard prioritization
  Activity: Walkthrough: Submit and score a mock risk event

Module – 3

Root Cause Analysis (RCA) and Lessons Learned

• RCA methods: 5 Whys, Fishbone Diagram
• Avoiding confusion between symptoms and root causes
• Integrating RCA outcomes into future control design
• Documenting lessons learned effectively
  Activity: Breakout session: Conduct a sample RCA using 5 Whys

Module – 4

Treatment Planning, Controls & Escalation

• Converting events into risks where relevant
• Defining mitigation plans: actions, owners, deadlines
• Enhancing controls based on root cause findings
• Tracking progress, dashboards, escalation thresholds
  Activity: Case example: Draft a basic mitigation plan based on a real risk

Module – 5

Practical Workshop – Solve a Real Risk Event

• Group reviews a provided scenario (e.g., data breach, payment error)
• Identify reporting gaps and perform RCA
• Propose a treatment plan with control enhancements
• Share findings and lessons learned with other teams