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Operational Risk Management

Το ICAP Risk Training Institute με την υποστήριξη "Academics University of London Worldwide", παρουσιάζει για 2η χρονιά στην Ελλάδα το επαγγελματικό εκπαιδευτικό πρόγραμμα "Mastering Enterprise Risk Management (ERM)". Το "Mastering ERM" προετοιμάζει τους risk professionals ώστε να μπορούν να σχεδιάσουν και να εφαρμόσουν στους οργανισμούς τους τα σύγχρονα πρότυπα στην Διαχείριση Κινδύνων που ενδυναμώνουν όλες τις διαδικασίες λήψης αποφάσεων, καλλιεργώντας και αναπτύσσοντας δεξιότητες και ικανότητες πρόβλεψης, αξιολόγησης και αντιμετώπισής τους.

Description

Η αποτελεσματική διαχείριση των λειτουργικών κινδύνων ενός οργανισμού είναι πλέον στοιχείο της επιβίωσής του. Σκοπός της εισήγησης είναι η αναγνώριση και η εις βάθος ανάλυση των σύγχρονων λειτουργικών κινδύνων σε όλα τα functions ενός οργανισμού ώστε οι συμμετέχοντες να μπορούν να λαμβάνουν τα κατάλληλα μέτρα πρόληψης αλλά και αντιμετώπισής τους, ‘εκμεταλλευόμενοι’ τη βοήθεια του πιο πολύτιμου σύμμαχου, του προσωπικού.

Subject Areas

Operational RIsk Overview (4 hours)

1. The three lines of Defense (3LoD)
  • Background
  • Failures and critical success factors
2. Operational risk management
  • Definition of Operational risk
  • Operational risk management - the three lines of defense (3LoD)
  • Types and categories of Operational risk
  • Operational risk programs
    • Internal Event Collection
    • RCSA – Risk and Control Self-Assessment
    • KRIs – Key Risk Indicators
    • Scenario Analysis

Operational Risk culture

Business Interruption ( 5 hours)

Introduction to the risk of downtime

  • Anatomy & risk components of downtime
  • When risk can close a business
  • Discrimination in relation to other risk & interruption risk modeling work
  • Discrimination between suddenly & progressive interruption work (Interruption vs Disruption)
  • Anelastic activities of a work downtime
  • Introduction to the concept of resilience
  • Supply chain risks and risk of downtime
  • Technological development and risk of downtime
  • Examples & comprehension Quiz

Preventive & Suppressive treatment of the risk of downtime

  • Business Continuity Planning
  • Business plans principles
  • Business Impact Analysis
  • Business Interruption Risk Assessment
  • Interruption Crisis management
  • Business continuity plans
  • The benefits of business continuity in various areas of its operation company
  • Auditing techniques for business continuity capabilities
  • Testing of business continuity plans
  • International business continuity standards
  • Business continuity through various legal & regulatory requirements
  • Examples & comprehension quiz

Work Interruption insurance

  • Insufficiency of downtime
  • The termination insurance in the contract of property and government risks
  • Introduction to the concepts of Maximum Predictable Damage (MFL) and Maximum possible damage (PML)
  • Examples and quiz understanding of practical tips for loss management

Human Error Risk (4 hours)

Error & omission anatomy

  • Mistakes & omissions within the business
  • Mistakes & omissions analysis
  • Effects of errors and omissions
  • The concept of professional responsibility
  • Negligence and deceit – discrimination in relation to mistakes and omissions
  • Activities with significant exposure to the risk of error and omission
  • Examples and comprehension quiz

Dealing with the risk of mistakes & omissions

  • Detection of error & omissions
  • The role of accumulated experience through recorded incidents wrong & omissions
  • Preventive control and reducing of the risk of errors and omissions
  • Suppressive actions in case of errors and omissions
  • Examples & comprehension quiz

Product & Business Practices Risk (4 hours)

Product anatomy

  • Product life cycle and risks
  • When a product fails
  • General principles of failure modeling and impact assessment
  • Distinction between normal wear and tear and failure
  • The safe and unsafe failure of product
  • Examples and comprehension quiz

Product risks

  • Techniques for identifying and assessing product failure risk
  • Introduction to product security systems – structure of machines & benefits from their adoption
  • Product failure risk management techniques
  • Examples & comprehension quiz tracking & monitoring and controls product safety
  • Principles of tracking, monitoring and control of product safety
  • Modern concepts & technologies of product monitoring
  • The role of the distributed ledger as a tool tracking
  • Product forensics testing techniques
  • Product failure incident management (crises), the importance preparation
  • Benefits of product safety practices in design, development and their life cycle
  • Examples & comprehension quiz

Product related insurance 

  • Basic principles of product insurance
  • Introduction to liability insurance & product recall
  • Management of insurance losses related to product
  • Examples & comprehension quiz

Risk of business practices

  • Risk anatomy business practices
  • Basic risks associated with business practices
  • Violations of custodians / administrators
  • Service suitability, lack of customer knowledge
  • Violations of information disclosure
  • Violation of privacy
  • Aggressive sales
  • Speculation
  • Incorrect use of confidential information
  • Lenders liabilities
  • Violation of antitrust information
  • Market manipulation
  • Control and treatment dangerous litigation practices   
  • Examples & comprehension quizzes

Vendor / Outsoursing Risk (4 hours)

  • Risk definitions of operating assignment and risk provider/ suppliers
  • The stages / phases of an assignment to a third party provider
    • Assess the criticality of an outsourcing
    • Risk concentration
    • Risk management when choosing a provider / supplier
    • Risk management when concluding a contract with a provide / supplier
    • Monitoring of service provision
    • Exit strategy
  • Examples of Vendor/Outsourcing Risk και Case Studies

Health & Safety Risk ( 8 hours)

The business dimensioning of security & occupational health & security facilities

  • Legal consequences
  • Economic impact
  • Business reputation

Security & health

  • Occupational risk and prevention
  • Security of facilities, processes & production equipment
  • The Greek reality institutions of prevention in the basic sectors
Security & health management
  • Importance of international standards & management systems
  • Risk identification tools (quantitative / quality)
  • Prevention Measures
  • Insurance
  • Digital era of risk management

Interaction between supply chain and professional / industrial risk

Occupational security & health culture – corporate social responsibility

Fraud Prevention (5 hours)

  • White collar crimes
  • Fraud schemes
  • Fraud-related legal framework
  • Fraud investigation techniques
  • Fraud preventive and deterrence measures

HR Risk (4 hours)

  1. Talent shortage
  2. Succession planning
  3. Critical skills shortage
  4. Ethics, Culture and behavior
  5. Employee benefits liability
  6. Employment-related Lawsuits

Legal & Litigation Risk ( 4 hours)

  1. INTRODUCTION
  2. BASIC FRAMEWORK CREATION STEPS (LRM)
    1. REGIVES FOR LEGAL RISK ANALYSIS – SPECIAL CASES – ANALYSIS
    2. CREATION OF MANAGEMENT FRAMEWORK
    3. FRAMEWORK DEVELOPMENT & IMPLEMENTATION
    4. POLICY REGISTRATIONS & PROCEDURES
    5. KEY POINTS
  3. RISK PREVENTION & MEDIATION
  4. RISK MANAGEMENT
  5. ASSESESSMENT OF LEGAL RISKS & THEIR COSTS
    1. OBJECTIVES OF LITIGATION
    2. COST CALCULATION
    3. RISK WEIGHT
    4. SIDE EFFECTS
  6. ALTERNATIVE WAYS OF RESOLVING VARIOUS MEANS OF REDUCING RISK
  7. DECISION TREE ANALYSIS
  8. RISK OF ENFORCEMENT OF JUDGMENTS
  9. CASE STUDY: GREEK BANKING SYSTEM

Supply Chain Risk (5 hours)

  • Introduction to the concept of “smart supply chain”
  • Supply chain strategy
  • Processes - simulation
  • Introduction to the concept of Risk
  • Understanding the nature of risk in procurement and supply
  • Risk measurement & Evaluation indicators
  • Development of risk management strategy and procedure
  • Tactics and risk management tools
  • Quality, ethics in the global supply chains

Compliance & Contact Risk (12 hours)

  • Background Information
  • ESG Fundamentals
  • How is ESG related to Compliance
  • Breaking Down the Framework
  • The Environmental Factor
  • The Social Factor
  • The Governance Factor
  • ESG Metrics for E-S-G
  • ESG Rating
  • ESG Risk Methodologies

Environmental Risk & Climate Change (8 hours)

  • Environment and climate change issues for businesses
    • Economic, regulatory and other environmental and climatic effects business issues
    • Short term and long term risks
  • Assessment and quantification of environmental and climate change risks
  • The role of large databases in quantifying risks and artificial intelligence in their analysis
  • Analysis of climate change scenarios and control of sustainability models
  • Identification and management of environmental and climate change risks
  • Reporting, publishing and communicating data on the environment and climate
    • Non-financial information
    • Financial information and creditworthiness data
    • ESG criteria and key performance indicators
    • International reference standards
  • Case studies and examples form corporate environmental and climate risks and their impact

Data Privacy Risk (8 hours)

  • GDPR Framework
  • Accountability Risk
  • Contractual Risk
  • Third Parties Risk
  • Security Risk
  • Data Processing Risk
  • The DPO Role for Risk Reporting
  • How is Privacy Risk Monitored
  • WBS Risk Model Illustration

Cyber & IT Risks (20 hours)

Part A - Cyber & IT Risk Strategy in the era of Digital Transformation
  • What is Cyber and IT Risk and relation with ERM
    • IT Risk is a business Risk embedded in ERM
    • IT Risk Frameworks and Best Practices
    • Duality of Risk - Opportunities and Risk
    • Three Lines of Defense
    • Risk Appetite and Risk Tolerance
  • Digital Transformation and Risk
    • Opportunities and Risk of a BPR
    • New trends of Cyber & IT Risks (BYOD, Social Media, Cloud Computing, Internet of Things, Big Data)
Part B - The IT Risk Management Processes (Schema)
  • How can we identify Cyber & IT Risks
    • Collect and review Enterprise information - Objectives, Operations, Various business IT Environments
    • Identify potential threats and vulnerabilities
    • How to develop a set of IT Risk Scenarios
    • Identify key stakeholders of IT Risks
    • Identify risk appetite and risk tolerance
    • Establish the IT Risk Register
    • Develop a Risk Awareness Program for the Enterprise
  • How can we perform IT Risk Assessment
    • Analyze risk scenarios and identify likelihood and impact
    • Review Controls - Prepare gap analysis
    • Assign Risk Ownership to establish accountability
    • Update Risk Register
    • Communicate RA to Management
  • • How to Determine Risk Response and Mitigate Risk
    • Action Plan with Risk Owners and Business Objectives
    • Risk Response Selection and Prioritization
    • Ensure controls ownership and risk accountability
    • Consult/review/develop control procedures
    • Update Risk Register
  • • Continuously Monitor and Report IT Risk
    • Methods to Monitor Cyber & IT Risk
    • Risk awareness - Risk Culture KPIs, KRIs, Management Review, Risk Profile changes

Seminar Timetable

Date
1st & 2nd Teaching Hour
Break
3rd & 4th Teaching Hour
Break
5th Teaching Hour
25th of November
18.30 - 20.00
20.00 - 20.15
20.15 - 21.45
30th of November
18.30 - 20.00
20:00 - 20:15
20.15 - 21.00
3rd of December
18.30 - 20.00
7th of December
18.30 - 20.00
20.00 - 20.15
20.15 - 21.45
11th of December
10.30 - 12.00
12.00 - 12.15
12.15 - 13.45
15th of December
18.30 - 20.00
20.00 - 20.15
20.15 - 21.45
11th of January
18.30 - 20.00
20.00 - 20.15
20.15 - 21.45
13th of January
18.30 - 20.00
20.00 - 20.15
20.15 - 21.45
15th of January
10.30 - 12.00
12.00 - 12.15
12.15 - 13.45
13.45 - 14.00
14.00 - 14.45
19th of January
18.30 - 20.00
20.00 - 20.15
20.15 - 21.45
21th of January
18.30 - 20.00
20.00 - 20.15
20.15 - 21.45
29th of January
10.30 - 12.00
12.00 - 12.15
12.15 - 13.45
13.45 - 14.00
14.00 - 14.45
2nd of February
18.30 - 20.00
20.00 - 20.15
20.15 - 21.45
4th of February
18.30 - 20.00
20.00 - 20.15
20.15 - 21.45
8th of February
18.30 - 20.00
20.00 - 20.15
20.15 - 21.45
11th of February
18.30 - 20.00
20.00 - 20.15
20.15 - 21.45
14th of February
18.30 - 20.00
20.00 - 20.15
20.15 - 21.45
18th of February
18.30 - 20.00
20.00 - 20.15
20.15 - 21.45
23rd of February
18.30 - 20.00
20.00 - 20.15
20.15 - 21.45
25th of February
18.30 - 20.00
20.00 - 20.15
20.15 - 21.45
28th of February
18.30 - 20.00
20.00 - 20.15
20.15 - 21.45
1st of March
18.30 - 20.00
20.00 - 20.15
20.15 - 21.45
3rd of March
18.30 - 20.00
20.00 - 20.15
20.15 - 21.45
9th of March
18.30 - 20.00
20.00 - 20.15
20.15 - 21.45
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Course Start Date
25 of November 2021

Cost of Attendance

€1900
  • 95 Hours
  • Synchronous e-Learning
  • Attendance Certificate
  • Subsidized by LAEK
Application for Registration