Implementing Operational Risk Management within an ERM Framework
Learn How To Implement Operational Risk Management within an ERM Framework
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WHEN
July 19, Friday 11:00 AM PDT | 02:00 PM EDT | Duration: 90 Min
What You Will Learn
Over the past 10 years, financial institutions have suffered huge losses that could not be attributed to market and/or credit risk; risks that are normally well managed and controlled. Rather, they were incurred due to poor control over all other enterprise risks that are inherent in the day to day operations of the business known as operations risks.
Sound management of operational risk is an integral part of strong governance, risk and compliance (GRC) and enterprise risk management. In this session, the instructor will define operational risk and explain how to identify, quantify, manage, and control it. He will discuss why all employees must be cognizant of these risks in their day to day jobs and how an organization can better manage and control these risks that have resulted in the failure of several high profile firms and significant losses and unwanted press at others. The course will also review and discuss the building blocks and key players in implementing an effective ORM program that is integrated into the enterprise risk management framework.
You will get NASBA(1.8) credits by attending this course.
This course is approved by NASBA (National Association of State Boards of Accountancy). Attendees of Live Webinar are eligible for 1.8 CPE credit up on full completion of the course.
Why You Should Attend
Banks, investment firms, insurance companies and other financial institutions need to have a robust and effective operational risk management strategy, which is well integrated into the ERM framework. They also must understand the regulatory and risk mitigation needs of the current environment in order to protect consumer assets as well as their own operations from various operational risks.
The financial services industry must raise the bar on operational risk management given the evolving market environment and the increased internal and external pressure for financial services institutions to be operationally sound and meet compliance requirements.
Attending this training course will enable you to understand how operational risks can be better managed and what strategies actually do work in the wake of ineffective management systems coming to light given recent events in the marketplace. This operational risk webinar is tailored to equip you with an in-depth knowledge and understanding of today’s operational risk challenges and effective strategies to deal with them.
Learning Objectives:
- What is GRC
- What is ERM
- What is ORM
- What are Operational Risks
- How are They Identified
- Where are They Found
- Risk and Control Self-Assessment Process (RCSA)
- How are Operational Risks Quantified
- Key Risk Indicators
- Scenario Analysis
- Capital Calculation
- How are Operational Risks Managed and Reported
- The Risk Profile Report
Who Will Benefit:
- Risk Officers
- Internal and External Auditors
- Project Managers
- Examiners
- Compliance Officers
- Internal Control Officers
- Financial Controllers
- Operations Managers
- Technology Managers
- Business Managers
Class Curriculum
Your Instructor
Mario Mosse has over 40 years of experience in operational risk management, internal audit and regulatory compliance at financial services companies. He is the president of MMosse Consulting, LLC, where he provides risk management advice and training to the financial services industry.
Previously, he was the head of operational risk management at Prudential Financial, Inc.
Prior to joining Prudential, Mr. Mosse was with The Chase Manhattan Bank, where he held several senior positions in internal audit and risk management
Recent Results
Peter Madigan - the US regulation editor for Risk.net
Mario Mosse has waged a careful campaign to implement Basel II at Prudential, a New Jersey-headquartered insurance company. Delivering value both to senior management and to the business lines is at the core of his strategy.