Certified Risk Analyst (CRA)

Why select this training course?

Risk is present in every business decision, regardless of who or what department makes the decision. Thus, the objective of any successful business professional or decision-maker should be to develop into an adept and effective risk manager. This is why Rcademy has designed this course to equip participants with relevant skills to meet the rising risk potential in their business organizations.

Who is a risk analyst? 

A Risk Analyst is a trained professional responsible for identifying potential risks and effectively recommending risk management strategies to prevent losses.

What is a risk management information system (RMIS)?

A Risk Management Information System (RMIS) is a computer-in-built information structure designed to analyze relevant data in determining, evaluating, and making decisions on risky ventures.

By completing the Certified Risk Analyst (CRA) Training Course by Rcademy, participants will understand everything they need to know about practical risk analysis and management.

Who should attend?

The Certified Risk Analyst (CRA) Training Course by Rcademy is designed for executives and managers from all industry sectors and roles concerned with recognizing and comprehending their business and work environment risks.

The Rcademy program is more suited for people with difficulty making critical decisions in an uncertain environment and needing to understand how risk affects their business. This includes the following set of people:

• Risk analysts who are responsible for identifying potential risks and developing risk management plans
• Insurance executives and brokers who have undertakings that are liable or prone to risk
• Internal auditors and accountants who have financial dealings that can create losses as a result of risk or threat
• Compliance Officers who ensure the company stays on track with regulations to avoid sanctions
• Project managers and HR executives are responsible for directing the affairs of businesses and projects, including the deployment of personnel
• Public sector and government officers who oversee the implementation of government policies and public affairs
• Safety, health, and environment officers managing health-related projects that deal with human
• Legal professionals guide organizations in complying with legislation and regulations
• Any individual willing to take up a role as a risk analyst

What are the course objectives?

The course aims to achieve the following objectives at the end of the training and allow participants to:

• Recognize the critical nature of risk management and mitigation and the necessity of risk analysis as a critical business driver
• Develop a thorough grasp of the dynamics affecting the formation of risks and opportunities in businesses in today’s global economic, regulatory, and cultural environment
• Develop a comprehensive approach for identifying, analyzing, prioritizing, quantifying, and mitigating various risk categories, such as operational, market, strategic, and management
• Apply a globally recognized risk management framework and a risk register to real case studies involving risk mitigation
• Review corporate governance standards and their role in compliance and risk management
• Recognize the significance of internal control, the function of internal audit, and the usage of internal reporting for risk management and control at the corporate level
• Assess, measure, and reduce various forms of financial risks, such as currency risk, interest rate risk, and market risk, using financial instruments
• Recognize the effect of and available solutions for mitigating significant strategic, operational, and external company risks in a changing global context
• Conduct a review of the management process and implement Risk-Based Decision Making (RBDM)

How will this course be presented?

This course contains relevant information and knowledge that builds participants’ capacity to become certified risk analysts. The modules are taught by experts and professionals well-grounded in recent and modern discussions about risk analysis and management. As a result, the participants get the best engagement and interaction from this course.

Rcademy emphasizes presenting courses in practical forms that reinforce theoretical teachings. As a result, there is a smooth conversion of learning to practical skills to give participants value for their learning experience. In addition, this enforces case studies and a hands-on teaching approach to ensure that all the participants are entirely on board with the teachings.

 What are the topics covered in this course?

Module 1: Introduction to Risk Management

• Overview of risk concepts
  – Theories
  – Types of risk
• Risk management concepts
• Risk management principles
• Risk principles
• Enterprise risk management
• Risk culture

Module 2: Categories of Risk 

• Market risk
• Liquidity and volatility risk
• Interest rates
• Operational risk
• Solvency risk
• Foreign exchanges

Module 3: Risk Identification

• Overview of risk identification
  – Inputs
  – Outputs
• Risk identification in projects and organizations
• Tools for risk identification
  – Concept of hedging
  – Value at risk calculation
  – Use of synthetics and markets
  – Stress testing
• Risk models
• Identifying risk events

Module 4: Project Risk Management Planning 

• Overview of project risk management
• Advantages of risk management
• Processes of project risk management
• Policy statement
• Project risk management planning

Module 5: Risk Analysis   

• Qualitative risk analysis
  – Overview of qualitative risk analysis
  – Performing a qualitative risk analysis
• Quantitative risk analysis
  – Overview of quantitative risk analysis
  – Performing a quantitative risk analysis
• Reporting results of risk analysis

Module 6: Operational Risk Management   

• Introduction to operational risk management
• Development of operational risk
• Pillars of management
• Allocation of resources for risk management
• Capital allocation models
• Monitoring operations
• Quantifying operations

Module 7: Strategic Risk Management     

• Overview of strategic risk management
  – Differences between strategic, operational, and tactical risk
• Applying strategic risk management in organizations
• Monitoring of risk management
• Measuring political and sovereign risk
• Implications involved in risk management

Module 8: Corporate Governance

• Overview of corporate governance
  – Corporate risk factors
  – Enterprise risk factors
  – Market risk factors
• Governance and compliance requirements
• Business continuity management
• Quality management
• Compliance
• Implementing risk standards

Module 9: Assessing Compliance

• Overview of risk management compliance
• Global and local regulations
• Organizational compliance status
• Creating organizational risk management culture