Product and Business Practices Risk
"Product and Business Practices Risk" Module is part of the "Certified Chief Risk Officer (C-CRO)" and the " Certified Operational Risk Officer (C-ORO)" training programs.
Description
In an era of strict regulatory frameworks and increased consumer protection, the way products are designed, marketed, and sold is a critical risk factor. The purpose of this seminar is to build understanding of Product and Business Practices risks, and to ensure business practices align with customer interests and regulatory requirements.
Target Audience
Product managers, marketing and sales professionals, compliance officers, legal counsel, risk managers.
Upon completion of the seminar, participants will be able to.Identify red flags in sales practices that could expose the company to risk.Embed ethics principles into new product design.Assess whether communication campaigns comply with the regulatory framework.Protect the organization’s reputation from risks linked to market misconduct.
About
Subject Areas
Anatomy of products
Product life cycle and risks
When a product fails
General principles of modelling failure and impact recognition
Distinction between normal wear and failure
The safe and unsafe failure of a product
Examples and comprehension quizzes
Product Risks
Techniques for identifying and assessing the risks of product failure
Introduction to product safety systems – System structure & benefits of adopting them
Techniques for dealing with risks of product failure
Examples & comprehension quizzes
Tracing & Product Safety Monitoring & Controls
Principles of tracing, monitoring and control of product safety
Modern concepts & product monitoring technologies
The role of the decentralized ledger as a tool Tracking
Product forensics failure testing techniques
Management of incidents of product failure (crises) – its importance Preparation
Benefits of product safety practices in design, development and their life cycle
Examples & comprehension quizzes
Insurance related to products
Basic principles of product insurability
Introduction to product liability and recall insurance
Management of insurance claims related to products
Examples & comprehension quizzes
Risks of business practices
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