Effective Operational Risk Management

Effective Operational Risk Management
Why Attend
Operational Risk Management plays a critical role within financial institutions due to the inherent complexities and vulnerabilities of their operations. It is essential for these institutions to identify, assess, and mitigate operational risks to protect their financial stability, reputation, and regulatory compliance. By effectively managing operational risks, financial institutions can minimize the likelihood and impact of operational failures, such as fraud, technology glitches, human errors, or inadequate internal controls. This proactive approach not only enhances overall operational efficiency and resilience but also instills confidence among stakeholders, including customers, investors, and regulators, fostering a sustainable and trustworthy financial ecosystem.
This comprehensive course provides participants an opportunity to enhance their understanding of the methodologies and best practices for improving operational risk management within financial institutions. Through in-depth discussion and examples, participants will explore a diverse range of activities that have the potential to result in operational losses. Moreover, participants will learn techniques to effectively estimate the frequency and severity of such losses from both an internal management and compliance standpoint.
The course places emphasis on the significance of enterprise-wide risk management, highlighting the necessity of extending surveillance across all facets of an organization’s operations. Special attention will be given to the criticality of internal risk controls and monitoring procedures, with a specific focus on areas such as conduct risk, cyber risks, internal and external fraud, and money laundering.
The course also emphasizes the elements that contribute to fostering a strong risk culture within an organization, along with the impact of robust corporate governance on operational practice.
Event Coordinated by BASA Training
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