Introduction to Operational Risk - Webinar By GlobalCompliancePanel
Introduction to Operational Risk - Webinar By GlobalCompliancePanel
Why you should attend: To avoid repeating the painful operational risk management failures that we have witnessed in such diverse organizations as Toyota's quality failures, banking's loan processing failures, organizations need to address operational risk in a holistic and systematic process. This course will provide an overview of the Basel framework to operational risk and argue that is a viable means for non-banking organizations to categorize and classify the major areas of operational risk. We will do a deeper dive into the two most critical elements of operational risk - legal risk, especially the risks from litigation and discovery, and the risks from financial crimes - internal fraud, external fraud, anti-money laundering, know your customer, etc. This three hour webinar is designed to provide an introduction to operational risk management including the major frameworks and standards in use today and simple techniques you can apply to reduce both legal risk and the risk of financial crimes, and guidelines to institute a systematic approach to operational risk.
Areas Covered In the Seminar: After attending this session, you will be able to:
PART ONE Identify the major categories of Risk according to Basel
List the seven major categories, 20 categories, and 40 subcategories of operational risk
What to look for in taking a holistic and systematic approach to op risk
Comprehend the major qualitative and quantitative tools used in op risk
Understand how self assessments, scorecards, KRIs, and scenarios are used as qualitative tools
Grasp why both internal and external loss data is essential in using quantitative tools
Go through the example of Toyota and BP to illustrate the root causes of op risk failures
PART TWO Comprehend the scope of legal discovery
Appreciate the importance of the Federal Rules of Civil Procedure
Grasp why America's litigious nature is spreading to its trading partners.
Understand how to mitigate your legal risk
PART THREE Comprehend the importance of the Principle/Agent problem
Use simple measures to reduce financial crimes.
Grasp that corruption is a way of life in much of the world.
Understand the basics of the major anti corruption and bribery standards
Appreciate the value of whistleblowers in a free society
Who will benefit: Risk and Compliance Managers
Accounting and Finance Managers
Internal and External Auditors
Sarbanes-Oxley Managers
Operational Managers in all types of Industries
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