Operational Risks Management ORM

Overview

Risk is inherent in every process and system that a company use, Due to the complexity of business operations, advancement of technology, increased customer expectations, and complex regulatory requirements the identification and management of operational risks have become a challenge for companies and organizations.

Syllabus

• Introduction to Operational Risk Management
Definition and scope of operational risks
Importance of operational risk management in businesses
• Identifying Operational Risks
Types of operational risks
Tools and techniques for risk identification
• Assessment and Analysis of Risks
Qualitative and quantitative risk assessment methods
Risk metrics and indicators
• Risk Management Frameworks
Overview of popular risk management frameworks (e.g., COSO, ISO 31000)
Implementation of a risk management framework
• Strategies for Risk Mitigation
Risk avoidance, reduction, transfer, and acceptance
Designing and implementing controls
• Technology and Operational Risk
The role of technology in risk management
Cyber risks and data protection
• Regulatory Requirements and Compliance
Understanding regulatory environments
Compliance strategies and their impact on risk management
• Case Studies and Real-world Applications
Analysis of operational risk incidents in various industries
Lessons learned from major risk management failures
• Developing a Risk Management Culture
Building awareness and accountability at all organizational levels
Training and communication strategies
• Monitoring and Reporting Risks
Risk monitoring systems and Key Risk Indicators (KRIs)
Effective risk reporting techniques
• Continuous Improvement in Risk Management
The role of audits and reviews
Feedback loops and process improvement strategies
• Conclusion and Future Trends in Operational Risk Management
Emerging risks and innovations in risk management practices
Preparing for future challenges in operational risk management

Taught by

Governance Risk and Compliance GRC

Subjects

Business