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This workshop provides a deep dive into operational risk appetite and Key Risk Indicators (KRIs), two topics that continue to pose challenges for firms.
It introduces the appetite and divergent opinions surrounding it, examining whether operational risk is consciously taken for reward or merely mitigated downwards. It then proceeds to the practical implementation, proposing a three-stage process for developing a meaningful risk appetite used for decision-making.
The second part addresses KRIs, the essential measures of appetite, examining them from a practical perspective, focusing on their purpose, design and benefits to the business. The course introduces a framework for assessing whether a metric is useful or not, and reviews examples of effective (and not-so-effective) indicators. It also includes two practical exercises of drafting an appetite statement and developing predictive KRIs.
The course is structured to provide delegates with crucial knowledge and ample opportunities for group work and discussion, to address emerging themes and benchmark solutions with peer firms. It contains practical tips and hints and ends with a 'Make a Difference' discussion, where attendees share takeaways that will make a real difference to their organisation.
The course is based on a best-selling book, Operational Risk Management of Financial Services: A Practical Guide to Establishing Effective Solutions, which serves as a base for the course materials and enables continuous learning.
Whether you are seeking to upskill your team, enhance productivity or foster a culture of continuous learning, we can deliver customised training programmes designed to meet your specific needs. If you have an enquiry, you can complete the in-house form and our training team will be in touch with next steps.
Understanding operational risk appetite
Selecting predictive and useful Key Risk Indicators (KRIs)
Trainer
Elena Pykhova is award-winning risk expert, author, international trainer and educator. She is the founder of a boutique risk management consultancy, ...
Elena Pykhova is award-winning risk expert, author, international trainer and educator. She is the founder of a boutique risk management consultancy, The OpRisk company, specialising in risk transformation, board and executive level advice on effective operational and enterprise risk management strategy, design and implementation. Elena is an author of a best-selling book, Operational Risk Management in Financial Services: A Practical Guide to Establishing Effective Solutions.
She is a renowned educator, running public and in-house training courses in the UK and internationally for world-leading organisations including Euronext, the Moller Center Cambridge University and the Institute of Internal Auditors. Elena is a thought leader, influencer and founder of a prominent industry think tank, the Best Practice Operational Risk Forum. She is a former Director for Education at the Institute of Operational Risk and chair of the Expert Panel for the Association of Foreign Banks. Passionate about the discipline, she founded her training and consulting practice after 20 years of experience in senior roles at Fortune 500 companies.
The course has been designed to appeal to risk professionals and individuals responsible for implementing risk management practices, or interested in learning about effective risk solutions, including:
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