Understanding Operational Risk Management

Duration 90 Mins
Level Basic & Intermediate
Webinar ID IQW19G0782

  • How operational risk is managed
  • How to conduct an operational risk analysis
  • How risk appetite is determined
  • The prioritizing of operational risks based on probability & impact
  • How to establish responsibilities for risk management
  • Mapping risk strategies to categories of control
  • Designing & documenting specific controls
  • What the risk measurement metrics are

Overview of the webinar

  • The Basel Accords requirements regarding operational risk.
  • Techniques that are used for assessing, managing and mitigating operational risk
  • Understanding the link between Operational Risk Management (ORM) theory and practice
  • Receive guidance in setting-out a clear road map on how to implement an ORM structure in practice in a banking/financial organization

Who should attend?

  • Financial Officers
  • Risk Officers
  • Internal Auditors
  • Operational Risk Managers
  • External Auditors
  • Project Managers
  • Examiners
  • Compliance Officers
  • Internal Control Officers
  • Financial Controllers
  • Operations Managers
  • Technology Managers
  • Business Managers
  • Staff with roles and responsibilities in operational risk in risk management departments, businesses and central departments.

Why should you attend?

 

  • Operational risk is defined by the Bank for International Settlements as the “risk of loss resulting from inadequate or failed internal processes, people and systems or from external events”
  • These four factors; internal processes, people, systems or external events are exceptionally wide-ranging and cover virtually every element of the operations of banks and financial institutions outside of the credit and liquidity aspects
  • Operational risk is inherent in all banking products, all banking activities, all banking processes and all banking systems. The effective management of all of these operational risks is a basic part of every financial institution’s risk management program
  • Learn how you define operational risk and apply this to the different aspects of banking
  • Be able to recognize the different operational risks as they currently manifest themselves in banks and other financial institutions
  • Learn the detail of the different stages of the operation risk management process
  • Understand the seven bank related operational risk categories and be able to illustrate each of these
  • Understand the techniques of “Acceptance”, “Transfer” and “Control” in relation to the management of operational risks

 

Faculty - Mr. Stanley Epstein

Stanley Epstein has a Master’s in Economics, which he earned with a dissertation on financial innovation, and a Bachelor’s in Accounting. He has had extensive experience in banking and IT specifically the operations, payments, RTGS and the operational risk aspects of banking in the UK, Europe, the USA, Australia and Southern Africa. His bank-operations, payments systems, operational risk, and clearing house experience is wide ranging and includes working closely with organizations such as UNCITRAL, Deutsche Bank and CHIPS in New York; APACS, British Bankers Association, CLS and Barclays Bank in London; Crédit Agricole in France; UBS and Credit Suisse in Switzerland, the central bank in the Netherlands; Alpha Bank in Greece; the central bank in Romania; the central bank in Kazakhstan; Bank Leumi and the central bank in Israel; the Standard Bank, Clearing Bankers Association; Bankserv and the central bank in South Africa and ANZ and Commonwealth Bank in Australia.

 

Commencing his career at the Standard Bank of South Africa he gained a thorough grounding in all aspects of banking ranging from the bank’s branch system, back-office payments processing. He was also closely involved in the development of electronic banking at the Standard Bank. At a banking industry level he was involved in the creation and development of STRATE (Central Securities Depository) in South Africa dealing with the dematerialization, clearing and settlement of all financial instruments in that country. He also served as Vice Chairman of the South African Clearing Bankers Association’s ERAG Group (an interbank payments/operations risk initiative established to identify and eliminate operational, legal and other risks in electronic payments) and later as Chairman of the Payments Association of South Africa Operational Risk Committee.

On leaving South Africa he joined Fundtech Corporation, a leading provider of financial technology based in the US.

For group or any booking support, contact: