Brief Description


In the current banking and financial world, good operational risk management is very important; so important that any flaws in it may result in dire consequences to the financial institutions concerned. We have often read and in some unfortunate cases, even experienced these consequences by way of operational losses, loss of business, client-initiated legal proceedings, penalty from the Regulators, bad press, etc.



Whatever the consequences are, they all have one thing in common – they generate adverse impact to the organization. While many organizations already have operational risk framework defined, many still struggle with embedding operational risk as part of daily “Business As Usual” operations that are “owned” and executed effectively across the team by everyone. As a result, many of the current tools become form-filling exercises that do not bring much value to the organization

 
Take-Away


Participants will:
• Learn that operational risk mitigation is one of the key responsibilities of everyone in the team and accept their role in driving this throughout their respective teams and units. In short, embed operational risk management as part of every manager’s day-to-day responsibility
• Understand the key pillars in operational risk management and the roles managers in ensuring the effectiveness of same particularly their role as the first line of defence in operational risk
• Develop the operational risk mitigation actions plan for the team for implementation which the managers will own and be responsible for

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For Who


• Senior Managers and Managers in business / operations teams
• Operational Risk practitioners

Methodology/ Duration


Indoor using combination of lecture, discussion, break-out groups, home assignments and simulation activities/ games. Typical duration is 2 days

Key Contents

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• Key areas and processes in effective operational risk management
• Team-specific operational risk and mitigants – some best practices
• Managers’ roles and responsibilities plus accountability in managing operational risk
• Basic goal setting, strategy building and action planning
• Formulation of risk mitigation plans and presenting for buy-in