Operational Risk Programme (Workshop 1): Making the Most of your Risk and Control Self-Assessments

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.

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.

The course covers its subject in depth in around three 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.

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

Take this training in-house:

This training is also available as an in-house programme, which means you can tailor it to exactly what you and your colleagues require. Pricing for in-house will depend on what is required. Enquire about this option by contacting our training team.

Pricing:

Individual session tickets:

£450 (+VAT) - Members and Associate Members
£575 (+VAT) - Non-members

This course is part of the Operational Risk Programme, which includes five workshops in total, see below for information on each:

15 December - Identifying and using key risk indicators (KRIS)

18 December - Capturing and using events, incidents and losses

19 December - Interpreting, developing and applying stress tests and scenarios

20 December - Using risk appetite frameworks, statements and limits

Area of expertise:

Prudential risk, reporting and tax

Tags:

Operational Risk

Iain Felstead

Founder Erasmus Risk Consulting

My real-world risk management experience has been developed over 25 years in financial service and includes Head of Risk and Head of Enterprise & ...

My real-world risk management experience has been developed over 25 years in financial service and includes Head of Risk and Head of Enterprise & Operational Risk roles in Asset Management, Wealth Management, Private Banking, Insurance and Retail Banking (for a FinTech Digital Bank). During this time, this has included a combination of large and smaller organisations in the UK, Singapore and Germany. These include M&G plc, Prudential plc, Eastspring Investments (Singapore), Quilter plc (in both Quilter Investors and Quilter Financial Planning), Brown Shipley (a Quintet Private Bank), Postbank AG (Germany) and Tandem Bank (a green UK Digital Bank).

As a previous Technical Adviser for the CISI Operational Risk Exams for 10 years (2011 - 2021) and having delivered a series of Operational Risk Management Lectures as a Visiting Lecturer at Bayes Business School (formerly Cass) on the MSC Insurance and Risk Management, my technical credentials have continued to develop over time.

I am a Chartered Fellow (FCSI) of the Chartered Institute for Securities and Investments (CISI), an Affiliate Member of the Institute of Risk Management (IRM) and a Committee Member for the IRM’s Climate Change Risk Special Interest Group and co-author of the IRM’s Climate Change Risk Management Guidance Publication 2021 which brings expertise in the field of Climate Change Risk.

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

UK Finance search

Search form