This course focuses on a common operational risk topic and the difficulties in converting the data obtained into real business value. Operational risk management is much more difficult to link to clear business benefits than market risk management and credit risk management. However, for those that manage it, there are many business benefits including aligning your risk profile with your risk appetite and ensuring that your control profile fits your cost budget and your resources budget.

The course covers its subject in depth in around 3 hours.  The course is based on the very successful post-graduate rated Operational Risk Professional course which RiskLogix has run for over six years.  Jargon is avoided (or explained where it is necessary to use it).  No prior risk management experience is necessary, although an open and enquiring mind is essential.  Questions from delegates at any time are encouraged and the course is deliberately open and participative. 

This course explains and reviews various common approaches to risk and control assessments and their business benefits. You will be able to benchmark your own risk and control assessment methodology against the anonymised examples that will be shown. Additionally, the course looks at the many business uses of RCSAs, including qualitative risk appetite.

Learning outcomes

  • Create an RCA process
  • Differentiate between causes of risks, risks, and effects of risks
  • Assess different levels of risks and of controls
  • Design risk assessment matrices
  • Score inherent and residual risk
  • Score inherent and residual risk likelihood and impact
  • Score control design and performance
  • Distinguish between control types (directive, preventative, detective, and corrective) and their effect on risks
  • Construct KRIs and KCIs from an RCA
  • Propose risk appetite from RCA data

This workshop is part of the Operational Risk Programme, please see details of the related sessions below:

Top Speaker

Professor Tony Blunden

Professor Tony Blunden

Hon. Professor at GCU and Head of Consulting at RiskLogix

Professor Tony Blunden has worked in the City of London for over thirty years primarily within risk management and related areas in financial services...

Professor Tony Blunden has worked in the City of London for over thirty years primarily within risk management and related areas in financial services organisations. Prior to joining Risk-Logix, he spent four years as Director of Operational Risk within the Financial Services Risk Management Practice at Ernst & Young. Tony's area of focus is the identification and development of clients? needs in risk management. 

Client consulting engagements have included advising and guiding on risk frameworks, governance and culture, risk and control assessments, indicators of key risks, loss databases and their use, scenarios and stress tests, modelling of operational risk and risk reporting as well as risk appetite, the use of six sigma, ICAAP, ILAAP and enterprise wide risk management.  Risk appetite frameworks and model validation have been a particular feature of Tony's work in the last few years.

Tony is a frequent conference and bespoke training speaker having spoken at over 150 international risk and compliance conferences.  He is also a well-known author of articles, chapters and books on risk management and compliance.  His latest book is ?Mastering Operational Risk? which has sold over 12,000 copies, been translated into Chinese and is published by Financial Times Prentice Hall. He has been appointed an Honorary Professor by Glasgow Caledonian University.  Tony is also a Fellow of the Chartered Governance Institute.

Tony is recognised throughout the industry as a world leading authority on operational risk and brings deep domain knowledge and the practical experience of advising a considerable number of blue chip companies on risk management.

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Suitable those who have an interest in understanding the business benefits that can be gained through good risk management as well as risk professionals, new joiners to risk management and allied areas.

  • CRO
  • COO
  • CFO
  • Head of Business Line
  • Head of Department
  • Risk champion/Business risk leader
  • Head of Risk
  • Head of Operational Risk
  • Operational risk analyst
  • Head of Credit Risk
  • Credit risk analyst
  • Head of Finance
  • Financial analyst