Operational risk is a growing concern for many firms. With an increase in regulation, business complexity, the role of critical processes and systems, and the new wave of emerging technologies, operational risk will continue to grow in scale and significance for many firms. In this program, we will examine the features that make operational risk measurement challenging. We will review best practices for managing operational risk with special emphasis on its prevention and control and how leadership of the function can best be undertaken. The material is presented through real-life case studies, allowing us to explore how operational risk is handled by organizations and how failure to contain it can often lead to regulation and reputational harm.
The focus of the program will be on the importance of operational risk in the financial services industry and the development of organizational capabilities to address it, including the communication of operational risk metrics, such as Key Risk Indicators (KRIs). We will review in detail the Basel methodologies for calculating economic capital for operational risk and examine advanced tools for operational risk preparation, including stress testing and scenario analysis. We will also examine operational risk in the context of an Enterprise Risk Management (ERM) framework. This course also presents how teams make decisions about operational risk and how the organizational culture impacts risk reporting, operational risk management, and the strategy of firms.
- Learn best practices for managing operational risk
- Understand the metrics and methodologies for operational risk measurement
- Know how to lead operational risk teams
- Understand operational risk and Enterprise Risk Management (ERM) framework
- Learn more about linkages between operational risk, regulation, and brand harm
This training is relevant to regulatory and compliance executives and risk management executives, Operational Risk teams, and Enterprise Risk Management teams. It is offered as a 2-day in-company program.
For an assessment of your organization’s individual training needs, contact [email protected] or call +31 (0)20 5200160.