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This workshop explores quantitative framework tools, namely, risk events (or losses) and scenario analysis.
It focuses on their practical application and advocates for moving away from solely risk measurement and capital calculation to active risk management. Event (loss) data collection is the most common operational risk component, and the course emphasises the practical yet challenging aspects, examining how to calibrate thresholds correctly, considering the human element of reporting, and ensuring data completeness and accuracy.
The workshop addresses the evolution of the tool amid rising technology incidents, regulatory noncompliance, and data breaches. The course also provides a step-by-step guide to developing scenarios and reviews the process in the context of emerging risks. It then proceeds to an insightful discussion of emerging risks financial services firms should have on their radar.
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 their 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.
By the end of this workshop, you will be able to:
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.
Operational risk events: old tools, new challenges
Scenario Analysis and Emerging Risks
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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