Financial firms construct operating environments comprised of manual and automated processes that interact with data with the aim of maximizing operating efficiency and minimizing exposure to operational risk. Today's operational risk management tools and techniques are essentially assessment and indicator based and typically report risks using non-quantitative ‘RAG' (red – amber - green) indicators. Such tools and techniques are failing operating management, boards, investors and other stakeholders due to their inability to produce explicit, comprehensive and dynamic measurements of operational risks in financial firms as they occur and accumulate.
The clock is ticking on today's operational risk management approaches. The global regulators (Basel) are demanding improvements and, most significantly, they are expecting banks in the near future to be able to reconcile their risk data to the firm's general ledger and aggregate it to the top of the firm. That means that, among other things, financial firms will need to implement methods of explicitly and dynamically measuring exposures to operational risks.
By attending this course you will find out how it can be done.
The course is designed as a combination of classroom lectures supplemented by interactive discussions and practical case studies to illustrate solutions to the problems faced in practice.