Operational Risk Masterclass
Operational risk management is the management of unpredictable outcomes on the efficiency and effectiveness of operations in an organisation. This Masterclass guides participants through the key issues and dilemmas that arise from the design and implementation of a best in class operational risk management framework.
Taught by internationally respected and experienced practitioners, the Masterclass is interactive and focuses on the creation of a structured, bespoke organisational improvement plan for each participant. The Masterclass is backed up by up-to-date learning resources including the 2022 book Fundamentals of Operational Risk by Simon Ashby.
This book builds on the Institute of Operational Risk and Institute of Risk Management’s Sound Practice Guidance Papers. It is written for risk professionals looking to benchmark and enhance the operational risk management practices of their organisations. The book contains many case studies and examples of good practice, some of which form the basis for the group exercises and cases that will be used in-class.
Key learning objectives
On completion of this Masterclass, participants will be able to:
- Explain the value of operational risk for organisations and their stakeholders
- Evaluate operational risk governance arrangement and develop improvement plans where appropriate
- Design effective strategies for influencing risk culture, including how to create an appropriate Tone from the Top in their organisation
- Influence the creation of effective operational risk appetite statements
- Apply the latest practice to enhance a broad range of operational risk process tools
- Improve the embeddedness of operational risk process tools in the day-to-day work of an organisation
- Plan better to create a more agile and resilient organisation
Masterclass content summary
Over three days you will be taken through all the following important Operational Risk components.
|Day 1 - Governance||Day 2 - Risk and Control||Day 3 - Improving your operational risk management|
|1. Masterclass objectives||7. Recap on day 1||13. Recap on day 2|
|2. The value of operational risk||8. Risk appetite||14. Operational resilience|
|3. Risk governance||9. Operational risk process tools - 1||15. Resilience & Scenarios|
|4. Risk culture||10. Operational risk process tools - 2||16. Creating an action plan|
|5. Group Exercise||11. Group Exercise||17. Assessment|
|6. Summary and overnight reading||12. Summary and overnight reading||18. Summary|
Masterclass content detailed
The Masterclass components have the following content:
Day 1 - Governance
|1. Masterclass objectives|
|2. The value of operational risk||
|3. Risk governance||
|4. Risk culture||
|5. Group Exercise||
|6. Summary and overnight reading|
Day 2 - Risk and Control
|7. Recap on day 1|
|8. Risk appetite||
|9. Tools of the operational risk process - 1||
|10. Tools of the operational risk process - 2||
|11. Group Exercise||
|12. Summary and overnight reading|
Day 3 - Risk and Control
|13. Recap on day 2|
|14. Operational resilience||
|15. Resilience & Scenarios||
|16. Creating an action plan||
Benefits of attending
- An implementation plan personalised to your organisation based on key learnings
- 18 CPD hours
- Up to 12 months free affiliate membership of the IRM
- 10% off our qualifications
- Access to our Thought Leadership and online publications
- Global recognition and networking opportunities
- A learning experience like no other: Networking opportunities and learning different perspectives from professionals from companies all over the world
- 30 years of experience from industry leaders
Who should take this Masterclass
The Masterclass is aimed at any professional looking to improve their operational risk management practice and the operational risk management framework of their organisation. Those without a basic grounding in risk management and operational risk are recommended to take either the IOR’s Certificate in Operational Risk Management or the IRM’s Fundamentals of Risk Management before attending this course.
Return on Investment
Working with two of the IRM’s leading international practitioners’ attendees will be encouraged to review and challenge the current operational risk management practices of their organisations. The aim is to arrive at customised improvement plan that can enhance the efficiency and effectiveness of an organisation’s operations. The potential benefits of this include:
- Reducing the number and cost of operational risk events
- Reducing the cost and increasing the effectiveness of operational risk management practices
- Enhancing operational resilience, helping an organisation to adapt to sudden and unexpected change
- Improved compliance with applicable laws and regulations
|18 Hours||IRM Office London||£2200+VAT||£2400+VAT||
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About the trainers
Dr. Simon Ashby
Dr Simon Ashby is a Professor of Financial Services at Vlerick Business School, Belgium. Simon has worked as an academic, a financial regulator and a senior operational risk manager in a number of UK financial institutions. He also provides training and consultancy services in risk management.
Simon has a PhD in corporate risk management from the University of Nottingham and has published many academic papers and industry reports on risk, governance, financial services regulation, banking and insurance. His current research interests include: board-level risk management, cyber risk, risk culture and operational risk management.
| John Crawley, FCCA IRMCert FIB MIfT
High-impact contributor with extensive international experience in a range of disciplines including Risk Management, Governance, Strategy and Finance. A Fellow of the Chartered Association of Certified Accountants, John draws from his 35 years of corporate experience in a range of Board, Executive, and Non-Executive positions.
Board positions held include Ulster Bank (Natwest) as Executive Director, Deutsche Bank as Non-Executive Director and Ogier Law Practice as Non-Executive Director and Board Risk Committee Member.
Well respected professional with considerable expertise in advising organisations in the government, NGO and private sectors internationally including the UK, Switzerland, UAE, Saudi Arabia, Nigeria, India, Singapore and Hong Kong. As Lead Partner in Expert Partners, John provides Strategy and Risk advice to a number of high profile Clients and is a Master Trainer for the Institute of Risk Management (UK) and the GCC Board Directors Institute (UAE).
What is reflective learning?
Reflective learning is a way to think deeply about a subject matter and translate this learning into insights that will influence future activities. This makes reflective learning a great fit for the IRM’s interactive training courses that seek to add practical value for participants and their organisations.
This type of learning is beneficial because it:
- Encourages independent learning and helps you to take control of your own learning and development
- Assists you to achieve ‘deep’, as opposed to ‘surface’, learning – for example learning how to select and use the models and tools that will benefit your organisation rather than memorising facts, and definitions
- Builds stronger connections between what you learn and your lived experience
- Enables you to identify your personal strengths and areas for development
Reflective learning journals are not an assessment of your subject matter knowledge, they are an assessment of your ability to critically think about how the learning relates to your experience and to gain insights into areas for development, personally and for your organisation.