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Engineering
Project Management

Certified Operational Risk Professional

Session Details

Khobar

USD 5,040

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Overview

The Certified Operational Risk Professional (CORP) course is meticulously designed to deepen participants' understanding and practical skills in identifying and managing operational risks in complex business environments. Taught by seasoned professionals with active roles in board committees and directorial positions, this course goes beyond theoretical concepts, focusing heavily on practical applications that reflect real-world challenges. Participants will be immersed in a dynamic learning environment, where they will engage in activities like simulations, detailed case studies, and interactive workshops aimed at identifying risks, analyzing their root causes, and designing effective controls. Instructors will utilize many gamification techniques to ensure participants are effectively capturing the related concepts. This course adopts a thorough approach, integrating the Three Lines Model with a strong emphasis on linking operational risks directly to business objectives. This ensures a strategic alignment that enhances the ability to assess, prioritize, and manage risks effectively. Participants will learn to design and implement comprehensive risk controls and develop robust risk registers as part of their risk management toolkit. The course structure is crafted to not only impart essential knowledge but also refine the skills necessary for professionals to navigate, analyze, and mitigate risks efficiently, making it an invaluable resource for anyone looking to excel in operational risk management.

Learning Objectives

Demonstrate a comprehensive understanding of operational risk, its impact, and the importance of a risk-aware culture. Apply the Three Lines Model and implement risk assessment frameworks, internal controls, and fraud mitigation strategies to enhance risk management. Monitor, evaluate, and report on risk scenarios, utilizing advanced tools, risk registers, and proactive technologies. Communicate and engage stakeholders on operational risk management, ensuring alignment with regulatory requirements and best practices. Lead and continuously improve risk management strategies, adapting to emerging risks, organizational changes, and compliance standards. Quantitative Risk Management

WHO SHOULD ATTEND?

Operational Risk Officers and Managers

Internal Auditors

Compliance Professionals

Enterprise Risk Managers

Business Continuity and Resilience Teams

Finance, IT, and Control Functions

Candidates for operational risk certification

COURSE METHADOLOGY

BK Management Team believe that learning is not only about acquiring technical skills, it is also about learning behaviors & Competencies that are desirable for work in plant operation & maintenance critical dimensions. Our holistic teaching develops our delegates' personal effectiveness to function both as an individual and as a team player. The course delivery & modes of instruction will incorporate theory , practical skills and Q&A sessions. To enhance learning outcomes, theory sessions will comprise classroom based lecture that will intersperse with interactive discussions, scenario-based, case-study, group exercises, video clips, power point slides, learners' Guide and the application of various tools which will be provided to help in the delegates and participants of the learning’s objectives. With successful implementation of the learnt skills they are bound to enhance Individual & Organizational growth. For online / Interactive Virtual sessions, Delegate should have a stable & good Internet connection on his Laptop.

Course Outline

Module 1:

Introduction to Operational Risk

  • Definition of Operational Risk (per Basel II & ISO 31000)

  • Types of Operational Risks:

    • People

    • Processes

    • Systems

    • External Events

  • Examples of operational failures (case studies)

  • Importance of Operational Risk Management (ORM)

  • Role of Operational Risk in Enterprise Risk Management (ERM)

Module 2:

Regulatory Framework and Governance

  • Basel II / Basel III Guidelines for Operational Risk

  • Risk Governance Structure

  • Three Lines of Defense Model

  • Roles and Responsibilities (Board, CRO, Risk Committee)

  • Regulatory Expectations (e.g., BCBS, OCC, PRA, EBA)

  • Risk Culture and Conduct Risk

Module 3:

Operational Risk Framework (ORMF)

  • Key Components of an ORMF:

    • Risk Identification

    • Risk Assessment

    • Risk Control

    • Risk Monitoring and Reporting

  • Building and Implementing an ORMF

  • Risk Appetite and Tolerance for Operational Risk

Aligning ORM with business strategy

Module 4:

Risk Identification & Assessment

  • Risk & Control Self-Assessment (RCSA)

  • Process Mapping and Risk Taxonomies

  • Control Identification and Design

  • Key Risk Indicators (KRIs) & Key Control Indicators (KCIs)

  • Heat Maps and Risk Scoring Methods

Module 5:

Risk Mitigation and Control Strategies

  • Designing Effective Controls

  • Control Testing & Assurance Activities

  • Operational Resilience and Business Continuity Planning

  • Incident Management & Root Cause Analysis

  • Scenario Analysis and Stress Testing

Module 6:

Loss Event Data and Risk Quantification

  • Internal Loss Data Collection and Classification

  • External Loss Data and Consortia (e.g., ORX)

  • Operational Risk Capital Modeling (Basic Indicator Approach, Standardized, AMA)

  • Risk Adjusted Performance Measurement (RAPM)

  • Linking Risk Data to Business Performance

Module 7:

Tools, Systems, and Technologies

  • Operational Risk Management Systems (GRC platforms, e.g., Archer, MetricStream)

  • Automation & AI in ORM

  • Integration with Cybersecurity & Fraud Risk Tools

  • Reporting Dashboards and Visualization Tools (e.g., Power BI)

Module 8:

Operational Risk Reporting and Communication

  • Board and Executive-Level Reporting

  • Operational Risk Reporting Templates

  • Escalation Procedures

  • Communication with Stakeholders and Regulators

Integrating ORM Reports with Enterprise Risk Reports

Module 9:

Emerging Trends and Challenges

  • Cyber Operational Risk

  • Third-Party / Vendor Risk Management

  • ESG and Reputational Risk

  • Regulatory Technology (RegTech)

AI/ML Risks and Automation Gaps

Module 10:

Case Studies and Practical Applications

  • Case Study: Barings Bank Collapse

  • Case Study: Wells Fargo Sales Practices Scandal

  • Group Exercise: RCSA Workshop Simulation

  • Mock Risk Assessment and Reporting

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