Introduction
How you will benefit
- 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
What you will cover
Module 1: The expansive scope of Operational Risks
- The Operational Risk Scope - evolving business trends and coping with Industrial Revolution 4.0
- Confronting Disruptive Technologies, Digital Transformation and Exponential Technology (ET)
- Putting Cyber and Data Security on the Risk Agenda
- Ranking Operational Risks
- Operational Risk Management
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