admin October 30, 2022 Finance

Operational Risk Management Course

This interactive workshop course is apt for participants working as and with operational risk management personnel in financial and non financial institutions and need to keep pace with developments in the risk discipline amidst growing pressures of regulatory, governance and compliance issues as well as very intensifying digital disruptions to the traditional business models and operational processes. It engages the participants in examining the challenges and issues of operational risk management and drives forth the case for managing operational risks with a proper risk culture and framework is imperative to profitability and above all, survival of the enterprise.

Overview in Operational Risk Management

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

Who should attend

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

Methodology

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.

Module – 1: The expansive scope of Operational Risks

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

Module – 2: Practical Challenges in Measuring, Assessing and Managing Operational Risks – Drawing Valuable Guidance from Industry and Regulatory circles

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

Module – 3: Familiarization with the Ops Tools

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

Module –4: Confronting the Enemy Within

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

Module – 5: Managing Risks in new product/business launches and other Operational matters

Expanding the Business – ensuring effective operational and infrastructure support
Addressing risks in the usage of Model and Technology

Module – 6: Business Continuity, Conduct, Reputation, Regulatory and Legal Risk Matters

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

If you want to know more about the program, please refer to our course page at Riverstone Training schedule!

Frequently Asked Questions

Q1. What is an operational risk management course?

An operational risk management course is a professional training program that teaches participants how to identify, assess, monitor, and manage risks arising from internal processes, people, systems, technology, and external events. The course helps organizations develop effective risk frameworks to strengthen resilience, governance, and business continuity.

Q2. Who should attend an operational risk management course?

This course is suitable for risk managers, compliance professionals, internal auditors, finance professionals, banking professionals, business unit managers, consultants, and executives involved in managing organizational risks. It is also beneficial for non-finance professionals who want to understand operational risk practices and their impact on business performance.

Q3. What topics are covered in operational risk management training?

Operational risk management training typically covers risk identification, risk assessment methodologies, risk control frameworks, Risk and Control Self-Assessment (RCSA), Key Risk Indicators (KRIs), scenario analysis, third-party risk management, cyber risks, business continuity planning, fraud risks, and regulatory requirements.

Q4. Why is operational risk management important for organizations?

Effective operational risk management helps organizations reduce disruptions, improve internal controls, strengthen regulatory compliance, and protect financial and non-financial resources. A strong operational risk framework also enables businesses to respond better to emerging challenges such as digital transformation, cybersecurity threats, and changing regulatory expectations.

Q5. What skills can participants gain from an operational risk management course?

Participants can develop practical skills in identifying operational risks, evaluating potential impacts, implementing risk mitigation strategies, developing control frameworks, analyzing risk events, and improving organizational risk culture. These skills help professionals contribute to stronger governance and more effective risk decision-making.