The Risk Management Lifecycle and framework easily explained

Master Operational Risk Management: Build a Robust Framework

Looking to excel in risk management? This highly-rated course provides a comprehensive understanding of the operational risk management framework, empowering you to identify, assess, analyze, manage, and monitor both current and emerging risks within your organization.

This program takes you from foundational concepts to advanced techniques, equipping you with in-demand skills to enhance your career and safeguard your organization. You'll gain over 2 hours of best-in-class resources to effectively understand and analyze risks, leading to improved organizational resilience and growth.

Course Modules:

• Module 1: Introduction to Operational Risk

  • Explore the history of operational risk.
  • Understand the course outline and agenda for a structured learning experience.
  • Learn practical tips for maximizing information absorption and retention.

• Module 2: Risk Management Fundamentals

  • Deep dive into the Risk Management framework and its core principles.
  • Understand Risk, Reward, and Risk Appetite.
  • Identify common types of risk:
    • Market Risk
    • Credit Risk
    • Operational Risk
    • Liquidity Risk
    • Strategic Risk
    • ESG Risk

• Module 3: The Operational Risk Management Framework

  • Explore the key components of the Risk Management framework:
    • Risk Culture: Understand its impact on risk management effectiveness.
    • Enterprise Risk Management (ERM) Program: Learn the holistic approach to a robust ERM program.
  • Risk Identification: Discover how to identify existing and potential risks.
  • Risk Analysis: Learn to analyze risks and understand their potential impact.
  • Risk Evaluation: Master the scientific approach to assessing risk severity using an Impact and Likelihood matrix.
  • Risk Controls: Understand the role of controls in mitigating risk.
    • Control Assessment: Learn to determine control types (Preventive, Detective, Directive) and assess their effectiveness.
  • Risk Response: Prioritize risks and implement effective response strategies.
    • Risk Response Strategies: Explore various risk mitigation strategies:
      • Risk Sharing
      • Risk Reduction/Control
      • Risk Avoidance
      • Risk Transfer
  • Risk Monitoring and Reporting: Understand the importance of risk monitoring and reporting.
    • Learn about key risk management reports for Executive Management and the Board.
  • Understand the Risk Governance framework and Key Risk Management Monitoring and Reporting programs.
  • Establish and utilize:
    • Risk And Control Self-Assessment (RCSA) monitoring reports
    • Operational Risk Loss Event (ORLE) reports
    • Key Risk Indicators (KRIs) dashboards
    • Enterprise-wide Risk profile metric - Risk Heatmap profile

• Risk Assessment: Practical Application

  • Identify common disruption events organizations must plan for.
  • Understand the 3 key steps in the risk management lifecycle.
  • Utilize the risk Impact and probability matrix.
  • Master the risk identification process.
  • Learn to perform Risk Analysis.
  • Effectively evaluate risks and determine the magnitude of impact from various perspectives.

A strong risk management process is crucial for organizational resilience, growth, and long-term survival. This course provides the knowledge and skills to master this critical aspect of business.