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.

Operational risk losses are notoriously difficult to capture even though the analysis of them gives great business benefit. This course will enable attendees to benchmark their firm’s loss and event capture and analysis leading to an improved understanding of the firm’s risk profile. The course will include a section on the analysis and use of losses and events suffered by competitors, again enabling benchmarking of the attendee’s firm to take place.

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

  • Distinguish between causes, events and effects
  • Differentiate between internal and external events
  • Formulate external loss data for internal use
  • Design uses of internal loss data for advancing risk management embedding
  • Create event procedures
  • Propose uses of different types of external loss data
  • Apply loss data conditioning and scaling
  • Analyse external events to show relevance to internal risk management

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.


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:

Iain Felstead

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.

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Suitable to 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