Operational Risk Management- CPD Accredited

Operational risk has emerged as an important and integral component of risk  management practice and is regarded as a significant risk that can be found in any  process within any organisation. The failure of people, processes and systems that  represents Operational risk has been attributed to most of the risk management  failures that have been witnessed by many global institutions.  While market and credit risk remain as the other key focal points of risk  management, operational risk cannot be ignored at any cost given its significance  in Risk management. Therefore, the topic of Operational Risk covered in this  training program is designed to allow participants to gain a thorough  understanding of the concept, role and application of Operational Risk and the  benefits that best practice Operational risk brings to an organisation, if properly  and effectively adopted. The main building blocks of an Operational Risk  framework, the techniques and tools of Operational risk and the value and  associated challenges that Operational Risk brings to organisations in relation to  adoption or implementation will also be presented to allow for a full  understanding of the entire topic area.

Know Your Risk (KYR) Training & Learning Solutions is a boutique international  specialist risk management training organization catering to the training  requirements for corporate and institutional clients in the field of risk  management.  All training programs are tailored and designed by sourcing information and  knowledge from global best practices in risk management. Programs being  delivered by KYR Training & Learning solutions include two, three, four and five  day programs that are delivered either as onsite or via remote learning.  Programs on various risk management topics involved Operational Risk, Fraud Risk  & Conduct Risk have been successfully delivered by KYR Training & Learning  Solutions to international banking and financial services clients onsite in Dubai,  Singapore, Australia and Muscat with further international trainings planned for  delivery internationally across multiple locations.

By attending this course, delegates will be able to: 

SESSION 1 

Fundamentals of Operational Risk  Management. 

1.1 Definition and scope of Operational  Risk 

1.2 Characteristic and importance of  Operational Risk 

1.3 Relationships of Operational Risk to  other risk types 

1.4.Operational Risk Framework - Roles  and Responsibilities 

1.5 Operational Risk Management as a  cycle 

SESSION 2 

The Regulatory Treatment of  Operational Risk 

2.1 Key regulatory influences on  Operational Risk 

2.2 Evolving approaches to regulation  and supervision 

2.3 Principles for the Sound Management  of Operational Risk 

2.4 Regulatory interest in specific Operational Risk categories. 

SESSION 3 

Management of Operational Risk 

3.1 Components of a risk governance  framework and how they interact 

3.2 Roles and responsibilities of the  Operational Risk management function 

3.3. Accountabilities, roles and  responsibilities in the management of  Operational Risk 

3.4 Needs and expectations of external  stakeholders in relations to operational risk 

AFTERNOON SESSION 

SESSION 4 

Governance & Culture 

4.1 Basic Governance requirements 

4.2 Culture Definition and Context in  relation to Operational Risk 

4.3 Positive culture factors 

4.4 Operational Risk policy 

4.5 How to drive a positive culture for  good Risk Management 

SESSION 5 

Risk Management Frameworks 

5.1 Purpose of a Risk Management  framework 

5.2 COSO ERM Integrated Framework 

5.3 ISO 31000:2018 

5.4 How do you communicate a Risk 

management framework - The Risk  House 

DAY 2 - MORNING SESSION 

SESSION 1 Operational Risk Management  tools and techniques:

SESSION 2 

  
Operational Risk Appetite 

 

SESSION 3 

Key Risk Indicators 

 

AFTERNOON SESSION 

SESSION 4 

 

SESSION 5 

Case Studies & Team Exercise 

 Team Exercise 1. Assessment of  applicable Operational Risk and controls  in reference to Case studies 

Team Exercise 2. Example of a Banking  product and application of Operational  Risk Assessment 

This course is designed for professionals seeking to enhance their understanding of operational risk management in financial and non-financial institutions. It is particularly suitable for:

Participants will have access to a range of recommended readings, videos, and case studies through the LMS platform. These resources will provide deeper insights into the topics covered in each module and further enhance their understanding of Islamic finance and capital markets.