Operational risk management

For modern financial institutions

Operational risk is not new – it has existed ever since the first bank opened its doors for business.

What is relatively new, however, is how modern-day financial institutions manage this risk type. Operational risk management has evolved into a discipline in its own right with specialized personnel, policies, procedures, reporting, measurement techniques, and related technology.

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The ultimate guide to operational risk management

Operational risk management (ORM) is a crucial aspect of any business, helping organizations identify, assess, and mitigate risks associated with their day-to-day operations. By understanding and effectively managing operational risks, businesses can protect their reputation, minimize financial losses, and ensure their long-term success.

Industry-leading expertise

With nearly 40 years of experience in the learning and financial services industry our content is tailored for finance professionals.

Part of our extensive Know-How Library

We equip over 2 million financial services professionals annually with the knowledge to deliver in the rapidly moving global marketplace. Our extensive Know-How content library is trusted by the world’s largest investment and commercial banks, leading asset managers, insurance firms, regulatory bodies, and professional services firms.

The Operational Risk course is tailored specifically for finance professionals and includes discussion of regulatory requirements and requires learners to apply the content to finance-related scenarios.

Our model allows for flexibility if you are looking to purchase just one course or have access to our entire content library.

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Operational risk management for the banking industry

The banking industry faces unique operational risks due to the nature of its operations and the regulatory environment.

Operational risk management frameworks incorporate risk identification, assessment, mitigation, and monitoring processes tailored to the specific risks faced by banks, including fraud, system failure, and more.

Managers and senior leaders play an important role in driving engagement and ensuring that employees have the support they need to succeed.

Understanding banking regulatory requirements for ORM

In order to promote stability and resilience within the banking sector, regulators have implemented stringent frameworks and requirements to address operational risk.

Read about recent updates, including the standardized approach for calculating regulatory capital.

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Content

This course includes four main modules:

  1. Introduction to Operational Risk
  2. Operational Risk – Measurement & Reporting
  3. Operational Risk – Tools & Techniques
  4. Operational Risk – Developments & Emerging Risks

Learner Profile

This course is aimed primarily at new recruits working in a commercial/wholesale banking environment. More experienced personnel looking for a refresher on the management and measurement of operational risk may also find the course useful.

Not sure how much you know? Test your current knowledge with our skills gap assessment.

Topic Introduction
Overview of operational risk and risk management framework
Measurement & Reporting
Measuring, capital calculations, and reporting for operational risk
Tools & Techniques
Identifying, assessing, managing, and monitoring operational risk
Developments & Emerging Risks
Evolution of ORM, lessons learned from ORM failures, and emerging risks

Course modules

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What is a Risk Management Framework (RMF)?

A risk management framework (RMF) is a structured and systematic approach used by organizations to identify, assess, prioritize, and manage risks in order to minimize potential threats and exploit opportunities. It provides a comprehensive set of guidelines, processes, and tools for effectively identifying, assessing, mitigating, monitoring, and communicating risks throughout an organization.

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There are many reasons why people learn, but one of the key reasons is Continuing Professional Education (CPE) to maintain professional qualifications. Many examination bodies now mandate annual training, with some requiring alumni to complete up to 35 hours a year. To support clients, Intuition works with key financial bodies to ensure our accredited Intuition Know-How materials can be used to meet these CPE requirements.

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Top 5 operational risks in 2023

As the global financial landscape continues to evolve, banks face a myriad of challenges in ensuring smooth operations and sustainable growth. Operational risk management faces several challenges and is subject to evolving trends. Read our predictions for the top 5 operational risks in 2023.

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Operational risk management – measurement & reporting basics

Measuring and reporting operational risk plays a pivotal role in the banking sector, as it enables banks to enhance their risk management practices, make informed decisions, maintain regulatory compliance, and ensure stakeholder confidence.

Are you an expert in operational risk management?