Certified Operational Risk (COR)

Day 1: Introduction to Operational Risk

• Definition and scope of operational risk: Exploring the key aspects of operational risk and its distinction from other risk types.

• Regulatory landscape: Understanding the regulatory requirements and expectations for operational risk management.

• Impact of operational risk: Examining the potential financial, reputational, and legal consequences of operational failures.

• Operational risk management framework: Introducing a structured approach to managing operational risks, including identification, assessment, mitigation, monitoring, and reporting.

Day 2: Risk Identification and Assessment

• Risk taxonomy: Developing an understanding of different categories of operational risks (e.g., people, process, systems, external).

• Data collection and analysis: Utilizing various data sources (e.g., incident reports, internal audits, external benchmarks) to identify operational risks.

• Risk assessment methodologies: Applying qualitative and quantitative techniques to assess the likelihood and impact of identified risks.

• Key risk indicators (KRIs): Establishing and monitoring KRIs to track the effectiveness of risk management controls.

Day 3: Risk Mitigation and Monitoring

• Risk mitigation strategies: Exploring various tools and techniques for preventing or reducing operational risks (e.g., controls, training, scenario analysis).

• Cost-benefit analysis: Evaluating the feasibility and effectiveness of different risk mitigation options.

• Control framework design: Implementing a system of controls to manage identified risks within acceptable tolerances.

• Risk monitoring and reporting: Establishing processes for continuous monitoring of risks and reporting to stakeholders.

Day 4: Advanced Topics in Operational Risk

• Risk culture and governance: Understanding the importance of risk culture and effective governance in managing operational risks.

• Emerging risks: Identifying and addressing new and evolving operational risks, such as cyber threats and climate change.

• Capital allocation and risk appetite: Setting risk appetite and allocating capital based on risk assessments.

• Operational risk modeling: Utilizing quantitative models to assess and manage complex operational risks.

Day 5: Deep Dive and Implementation Strategies

• Industry Insights: Discover best practices and challenges specific to your industry.

• Emerging Issues: Stay ahead of the curve with future threats and trends.

• Scenario Planning & Testing: Build resilience through stress testing simulations.

• Risk Communication & Reporting: Master effective communication with stakeholders.

• ORM Implementation Roadmap: Chart a personalized course for successful implementation within your organization.