Description
Risk is inherent in every process and system that a company use, Due to the complexity of business operations, advancement of technology, increased customer expectations, and complex regulatory requirements the identification and management of operational risks have become a challenge for companies and organizations. On an overall basis, due to the weak operational risk management practices, the institutions lose millions of dollars each year. Operational Risks are the most significant risks that companies and institutions are exposed to. Most of the business failures that occurred in the past are due to mismanagement of Operational Risks, Events, and Losses. Companies and institutions are, therefore, focused on managing their respective operational risks and this is now a regulatory requirement as well for banks, financial insinuations, and corporate organizations. WHY OPERATIONAL RISK MANAGEMENT IS IMPORTANT?Operational Risk Management ORM is relevant for almost all of the companies and organizations such as banks, insurance companies, brokerage houses, investment companies, FMCGs, Pharmaceuticals, Leasing Companies, Heath Sector Companies, Service Industries, etc. These organizations spend millions of dollars on a yearly basis, to identify and manage their operational risks, to remain competitive and operational in the industry. Operational Risk Management is linked with Enterprise Risk Management ERM, therefore, all big consultancy firms in the world provide operational risk advisory services, to companies. Operational risk consultants charge, millions of dollars as consultancy fees, from these companies. WHAT WILL YOU LEARN?This course is divided into two Modules: In this course, you will learn about core areas of Operational Risk Management ORM such as: Module 1: OPERATIONAL RISKS, EVENTS, LOSSES, EXPOSURES, EXAMPLE ETC.- Risk and adverse impact concepts, - Operational risks, components, and examples, - Categories of operational risk,- Operational loss events, types, and examples, - Operational loss exposures, - Avoidable operational losses - Operational loss exposure avoidance by companies- Operational risk management ORMModule 2: 7 DIFFERENT CASE STUDIES RELATED TO OPERATIONAL RISK - Case Study 1: A Biscuit Manufacturing Company - Operational Loss Exposures and Losses- Case Study 2: Hijack of Bank's Core Application System and Operational Losses- Case Study 3: Luxurious Car Manufacturing Company and Operational Losses- Case Study 4: Bank's Regulatory Requirements (Regulatory Risks) and Operational Losses- Case Study 5: Risk Appetite Level - A Technology Company - Case Study 6: Internal Fraud in a Bank and Operational Losses- Case Study 7 - Use of Artificial Intelligence (AI) by the ORM team, to Perform Operational Risk Assessment In this course, you will also learn special risk management terminologies used in ORM. BENEFITS OF ATTENDING THIS COURSE: By attending this course you will:- be able to understand, how companies face Operational Risks and Calculate their exposures Assessment and Management- be able to talk confidently with risk management professionals and consultants regarding Operational risks and related domains- be able to work in consultancy firms or organizations in their risk management departments, especially ORM departments- get a certificate of completion of this course - be able to perform research and analysis on operational risks and management cases - be able to pursue a career progression in operational risk management. WHO SHOULD ATTEND THIS COURSE?This course should be attended by: Risk management professionalsOperational risk heads or managers Compliance professionalsIS Security professionalsBankersRisk Advisors and consulting firmsBranch managers / Operation managersInternal auditorsInternal controls professionals CFA / FRM / CA / ACCA / CAMS or Finance students andOthers who want to learn risk management and its components
