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

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Taught by

Governance Risk and Compliance GRC

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Subjects

Business