Overview
Operational Risks span across not just the financial spaces but also the non financial spaces. This three- day interactive workshop initiates and fortifies business professionals, from both financial and non financial institutions, in the practical issues and challenges in operational risk management.
Today’s business entity comes face to face with disruptive forces such as exponential technology (ET),digitization, cloud computing, big data, block chain technology, fintech and escalating cyber security concerns. Peppered with infamous operational “accidents” (including the massive cyber hacks at Equifax, United Airlines’ crisis mismanagement, beaching of the “London Whale”, LieBor, SocGen Krievel… ) and drawing from the evolving demands from regulatory changes and industry best practices including Basel, ISO and COSO, this session provides a timely address to operational risk matters. Intended to be edu-training, it examines the operational risk management practice with less quan- toxication, more qualitative rationalization and applies a palatable lay and case-based approach to an otherwise heavily technical subject
Upon completion of this course, the participant will
- Have a proper understanding of different operational risk events especially cyber security, reputational and regulatory/compliance risks
- Appreciate the impact operational risks have on financial and non financial institutions
- Develop a practical approach to measuring, assessing and managing operational risk
- Recognize the challenges posed in the process of managing operational risks, particularly in the face of heightening regulatory and industry demands including ISO, COSO, Basel, UCIT and MiFid
- Draw lessons from the various operational mishaps
All individuals who want to improve their value-adding effectiveness to the operational risk management function
- CEOs, head of business units, advisors and business consultants
- Managers from financial institutions like banks, NBFIs, insurance, asset management companies
- Non-finance professionals from sales, marketing, human resources, operations, investor relations, production, legal departments etc to understand the operational risk management discipline
- Any other professional who is committed to the drive for better (and value add) operational risk management
Non-theoretical methodology which includes interactive discussions, case studies, interactive games and
assignments to understand the concepts and their applicability
Trainer
All our trainers are carefully chosen by us and possess a rich and vast experience in the financial sector.
This course will be conducted by a renowned consultant having more than 35 years of experience in
financial markets and training. Until recently, he served for many years as the Regional Director Singapore chapter and Global Board of the Professional Risk Managers International Association.
It’s oOPs! – seemingly unforeseen events do happen
The Operational Risk Scope – evolving business trends and coping with Industrial Revolution 4.0
Are you future ready – Confronting Disruptive Technologies, Digital Transformation and Exponential Technology (ET)
Putting Cyber and Data Security on the Risk Agenda
Ranking Operational Risks – what practitioners perceive
Black and Grey Swans
Operational Risk Management – as is practiced
The Future of Operational Risk Management
The Making of an Operational Risk Manager
Defining Operational Risk
Challenges and Issues in Operational Risk Management
Success Factors in Operational Risk Management
Expounding Sound Practices in Operational Risk Management
Third Party Risk Management
Adopting an enterprise and integrated approach to Operational Risk Management
• Implementing an effective Framework with practical Policies, Procedures and Processes
• Operational Risk Measures – Preventive and Curative
• Managing the Great Challenge – Data Capture
• Risk and Control Self-Assessment (RCSA), Key Risk Indicators (KRIs) and Internal and External Loss Databases
• Stress Testing and Scenario Analysis
• Having a Control Framework
People Risk – Everywhere
How to prevent the next Rogue employee (trader, CEO…)
Performing KYE (Know Your Employee)
Addressing Fraud and Abuse and Sensing Behavioral Red Flags
People Retention and Succession Planning
Expanding the Business – ensuring effective operational and infrastructure support
Addressing risks in the usage of Model and Technology
Business Continuity and Conduct Management
Reputation – Preserving the Invaluable, Intangible Asset
Why Reputation matters – reflections on UA, LIBOR, Maggi, VW, Wells Fargo
Managing Social Media
Molding Culture and Conduct
Regulatory, Compliance and Legal Risk Issues
