Operational Risk Management Certification Training Course

Why Select this Training Course?

By taking this course, you will understand the tools, methods, and approaches used in the process and how operational risk management plays an important part in any organization’s wider picture of risk handling. You will gain real-world experience solving existing problems using modern technologies and tools.

How do you become a certified risk manager?

The necessary qualifications to become operational risk management start with a bachelor’s degree in any business-related course such as accounting, finance, or administration and relevant experience in the field. Some organizations will require a master’s degree before absorbing you as a qualified risk manager. To become a certified operational risk manager, you will need to undertake this course and successfully finish it.

What do operational risk managers do?

The main role of an operational risk manager is to reduce or limit any inherent risk associated with an organization’s operations. The duties and responsibilities of the risk manager will include creating reports on risk findings, assessing businesses, and identifying risk issues. The managers must also create plans and policies to reduce operational risks. Other responsibilities involve continuously monitoring the operations to find potential threats and ensure that the organization complies with existing laws and legislation.

What are the three levels of ORM?

1. In-depth

It is the level that refers to the scenario that time is not a factor when ensuring an organization’s business is successful.

2. Time-based risk management

Involves operating daily to ensure critical time levels are best respected as the commencement of any task or operation undertaken by an organization. The time at this level is limited, and most projects are done on the run.

3. Deliberate

This is where time is enough for any operation to be undertaken, and the planning can be adequately done. Some examples include maintenance and training, development of damage control plans, tasks or events planning, emergency planning, reviewing standard operating procedures, and recreational activities.

The Operational Risk Management Certification Course by Rcademy is designed to enable participants to acquire the necessary practical skills required to become certified operational risk managers in their businesses and organizations. Participants will be trained to ensure they understand the causes of risk, such as hazards, and understand how to understand risk assessment and controls.

Who Should Attend?

The Operational Risk Management Certification Training Course by Rcademy is ideal for:

• Risk managers
• Operational managers
• CFA
• Bankers
• Risk management professionals
• Risk auditors
• Internal auditors
• Compliance professionals
• Internal control professionals
• Consultants on risk
• Are any other interested professionals

What are the Course Objectives?

The main objectives of The Operational Risk Management Certification Training Course by Rcademy are to enable participants to:

• Recognized as certified professionals upon completion of this training
• Pursue a career progression in the risk management field
• Apply the knowledge gained in solving practical problems in their organization
• Undertake more research and analysis on operational practices
• Confidently handle risk management tasks as an experienced professional
• Learn about the foundations of operational risk management from the perspectives of several roles in the implementation of risk frameworks and risk governance
• Correctly investigate and report operational risk events
• Efficiently implement an operational risk plan and strategy
• Build a better and improved operational risk assessment program

How will this course be presented?

This Rcademy course is designed to thoroughly and fully prepare the participants for the job market. It will equip the participants with the necessary skills to solve real-world problems. The facilitators of this course understand the practical nature of this course and, therefore, will ensure that the theoretical information provided will be relevant in the field and can be effectively applied to solve real-world problems. The assignments, exercises, group discussions, and case studies are meant to ensure that you are ready to handle the existing job market.

What are the Topics Covered in this Course?

Module 1: Introduction to Operational Risk Management

• Identifying the common risk types that exist
• Relationship between the cause, event, and impact
• Understanding ORM
• Examining key components of the ORM framework and governance structure
• Different manifestations of operational risks
• Examples of operational risks
• How to identify operational risk

Module 2: Operational Risk Appetite

• The main objective of ORM risk appetite in organizations’ risk culture
• The nature and uses of qualitative and quantitative expressions risk
• Examining the nature of OR appetite
• Identifying the purpose and content of ORM
• The process of monitoring and reporting ORM about risk appetite
• Understanding risk appetite statements
• Risk tolerance, risk capacity, and risk appetite in operational risks
• Attributes of an effective OR appetite strategy

Module 3: Governance in ORM

• Accountabilities, roles, duties, and responsibilities in the management of operational risks
• The components of a risk governance framework
• The expectations and needs of external stakeholders
• Operational risk functions in management
• Governance of operational risk

Module 4: Losses in Operational Risk

• Uses and limitations of internal event data
• Using external events data
• Understanding the root cause analysis
• Issues, roles, and responsibilities of reporting events data
• Implications of thresholds in reporting events data
• Attributes of event data and its importance
• Defining different types of event data

Module 5: Data Categorisation

• Challenges in creating and applying data categorization
• Objectives of data categorization in operational risk management
• Methods of creating and applying categorization structures
• The need for different data categorization

Module 6: Operational Risk Key Indicators

• The importance of different forms of risk indicators
• Challenges in identifying operational risk indicators
• Assessing the important indicators
• Using risk indicators
• The attributes of key indicators

Module 7: Scenario Analysis

• The attributes of scenario analysis
• Approaches to analyzing scenarios
• Elements of constructing scenarios correctly
• Validating scenario analysis using different methods
• Challenges in scenario analysis and how to cope with them
• Bias forms that affect scenario analysis
• Understanding the challenges
• Operational risk tools and scenario analysis
• External factors in scenario analysis

Module 8: Control, Self-Assessments, and Their Roles

• Risk control and self-assessments
• Nature of risk controls and assessments
• Concepts of likelihood and effects of risk assessments and controls
• Methods used in reporting risk control and assessment
• Importance of undertaking risk control
• Advantages and disadvantages of risk control methods

Module 9: Regulations

• Capital adequacy implications
• Regulatory Influence in ORM
• Regulatory interests in risk categories
• Methods of Regulations and Supervision