Conference Description:

Sound management of operational risk is an integral part of strong governance, risk and compliance (GRC) and enterprise risk management. In this session, the instructor will define operational risk and explain how to identify, quantify, manage, and control it. He will discuss why all employees must be cognizant of these risks in their day to day jobs and how an organization can better manage and control these risks that have resulted in the failure of several high profile firms and significant losses and unwanted press at others. The course will also review and discuss the building blocks and key players in implementing an effective ORM program that is integrated into the enterprise risk management framework.

Why Should You Attend:

Banks, investment firms, insurance companies and other financial institutions need to have a robust and effective operational risk management strategy, which is well integrated into the ERM framework. They also must understand the regulatory and risk mitigation needs of the current environment in order to protect consumer assets as well as their own operations from various operational risks. The financial services industry must raise the bar on operational risk management given the evolving market environment and the increased internal and external pressure for financial services institutions to be operationally sound and meet compliance requirements.

Attending this training course will enable participants to understand how operational risks can be better managed and what strategies actually do work in the wake of ineffective management systems coming to light given recent events in the marketplace. This operational risk webinar is tailored to equip you with an in-depth knowledge and understanding of today’s operational risk challenges and effective strategies to deal with them.

Areas Covered in the Webinar:

What is GRC
What is ERM
What is ORM
What are Operational Risks
How are They Identified
Where are They Found
Risk and Control Self-Assessment Process (RCSA)
How are Operational Risks Quantified
Key Risk Indicators
Scenario Analysis
Capital Calculation
How are Operational Risks Managed and Reported
The Risk Profile Report

Frequently Asked Questions:

COVID 19 has required that we operationalize our business continuity and emergency planning, allowing us to see the many faults in our plans?
How can we best leverage this experience to ensure that we improve our scenario analyses?
We thought that we had a good framework and process, but were not as prepared for the types of issues that we had planned for. Particularly related to not being able to have events and gather?
The scenario analysis is extremely important. Are there templates available to provide guidance to build different types of scenarios?

Who Will Benefit:

Risk Officers
Internal and External Auditors
Project Managers
Examiners
Compliance Officers
Internal Control Officers
Financial Controllers
Operations Managers
Technology Managers
Business Managers