The fundamentals of operational risk management

Operational Risk discipline has developed and moved a long way since the years of being a ‘poor cousin’ of credit and market risk. With continued regulatory focus and catastrophic industry events, Operational Risk has become a crucial topic of the Senior Management’s agenda. This interactive, practical one day course will leave the delegates with a broad knowledge of how operational risk is defined and distinguished. Participants will gain an understanding of the fundamentals of operational risk in financial services, as well as focus on the core components of the Operational Risk Framework – Losses and Near Misses, Risk and Control Self-Assessments and Key Risk Indicators. Delegates will be also introduced to the challenging subject of Operational Risk Appetite. Participants will examine case studies of recent operational risk failures, review and become aware of the concepts of ‘impact and likelihood’ risk grading scales and have the opportunity to practice using them while identifying their ‘Top Risks’. The course will help the delegates understand why Operational risk remains high on the regulatory agenda; consider Basel Committee guidelines and compare the focus of PRA and FCA in the UK with other regulators globally.