The Fundamentals of Operational Risk Management

Pre-Conference Workshop, 18 March 2019


About this workshop:

Interactive, practical one-day Operational Risk workshop will leave the delegates with a broad knowledge of how operational risk is defined and distinguished. Participants will gain an understanding of the fundamentals of operational risk in financial services, as well as focus on the core components of the Operational Risk Framework – Losses and Near Misses, Risk and Control Self-Assessments and Key Risk Indicators. Attendees will also discuss a challenging subject of Operational Risk Appetite.

Running for the 6th year with excellent delegate feedback, the training is conducted via engaging and practical workshop-style format, allowing to cover aspects of particular interest to participants.

Who should attend:

This course is aimed at participants keen to have an overview of Operational Risk in one day. Particularly relevant for Risk and Operational Risk practitioners who would like a refresh of most recent techniques, issues and challenges as well as Operations, Financial Crime, Fraud, Audit, Business Continuity and Compliance managers who need to have a good up to date understanding of this key area.

Programme (approx from 9:30am – 4:30pm)

Session 1:

Defining Operational Risk

  • Objectives for the day and participant’s expectations
  • What is Risk? And how to help your employees think about Risk
  • Building an effective framework and integrating with other Risk-Types: Conduct, Fraud, Financial Crime

Session 2:

Operational Risk Events (Losses & Near Misses)

  • Definitions and Examples – Losses, Near Misses, Gains
  • Exercise: Are these Operational Risk events?
  • Collection and analysis – process and challenges
  • Case Study: RBS

Session 3:

Risk and Control Self-Assessment

  • The concept of RCSAs and the questions it raises
  • Different approaches to conducting RCSAs – Process, Strategic, Hybrid
  • Integrating Operational Risk with Business Strategy
  • Risks: Likelihood and impact
  • Group work: identifying and rating ‘Top Risks’

Session 4:

Key Risk Indicators

  • Key Risk and Control Indicators
  • Attributes of good indicators
  • Setting the thresholds
  • Exercise: practicing in defining ‘good’ KRIs
  • Case study: UBS

Session 5:

Operational Risk Appetite

  • Is there return-on-investment from taking Operational Risk?
  • Expressing the appetite using essential OR tools
  • Group Work: evaluating Appetite Statements expressed by peer banks

Session 6:

The OpRisk Wrap-Up

  • Any remaining questions answered
  • Building an individual Action Plan

Workshop instructor, Elena Pykhova, is an Operational Risk Executive and Director of The OpRisk Company. Elena is a practitioner with over 20 years’ experience in financial services, is well known in the industry as a respected Operational Risk Trainer, Chair of the Operational Risk Committee of the Association of Foreign Banks and director of the Institute of Operational Risk responsible for the Institute’s Educational portfolio.

Workshop cost is £500 plus VAT. If combined with the Fraud Conference 2019 in March, the cost will be reduced to £400 plus VAT. To register please complete registration form or contact us via email at or phone 020 7476 5509 / 078 9410 9603