Operational Risk - How to Mitigate

No prerequisites

The purpose of this program is to provide an overview of the fundamentals of risk, various, risk categories, the operational risk management process and examples of controls in place to effectively manage risk.

This course is able to support change that can include role out after new systems implementation, pre and post outsourcing and pre and post regulatory change by identifying the operational risk gaps that might be in the business and create a proactive approach to creating change.

Upon completion of the Operational Risk Workshop, you will be able to:

• Have an overview of the regulatory environment
• Define Risk Management and various risk categories
• Identify the objectives and benefits of effective risk management and controls
• Recognize the Operational Risk Management Framework
• Demonstrate understanding of how Processes, Controls and Principles are utilized within an operational environment to mitigate risk
• Given real-life Insurance case studies, recommend opportunities to mitigate operational risk and apply internal controls

• Brainstorming
• Group work
• Experiential analysis

A certificate will be handed out at the end of the session

Outcomes

Each person will have exposure to an operational risk based thought process that can be applied directly to their work environment