Operational Risk Management and Mitigation
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Operational Risk Management and Mitigation Course
Introduction:
Organizations in industries face operational risks wherever they turn. To the left lie ever-present risks from employee conduct, third parties, data, business processes, and controls. To the right are inherent cultural, moral, and ethical risks. Layered on top are technology risks—which are compounded as organizations embrace new technologies like automation, robotics, and artificial intelligence.
This Operational Risk Management and Mitigation Training course develops the understanding, skills, methods, and behaviors required to proactively manage risk across your operations – helping ensure day-to-day operational continuity, as well as the long-term sustainability of your organization. Based on a proven framework and introducing best practice techniques,
The operational Risk Management and Mitigation training course provides a deep understanding of the human, process, systems, and organizational causes of risk and how to minimize them, including insight into the psychology of risk prevention and the need to combat external threats. The training seminar will enable the delegates to examine their operations and take steps to plan and manage risk within their workplace.
Course Objectives:
At the end of this operational Risk Management & Mitigation training course, you will be able to:
- Improving the reliability of business operations
- Improving the effectiveness of the risk management operations
- Strengthening the decision-making process where risks are involved
- Reduction in losses caused by poorly identified risks
- Early identification of unlawful activities
- Lower compliance costs
- Reduction in potential damage from future risks
- Appreciate the benefits of proactive Operational Risk Management
- Construct an effective Risk Management Plan
- Conduct Risk Identification and Risk Analysis
- Plan a response to risk and take action to mitigate it
- Implement an Operational Risk Management Framework within your organization
- Document, report, and manage Operational Risk
Who Should Attend?
The operational Risk Management and Mitigation training course is suitable for a wide range of professionals but will greatly benefit:
- Senior Operations Managers
- Risk Management Professionals
- Operations Managers
- Senior Team Leaders
- Maintenance Managers, Engineers and Technicians
- Operations Planners
Course Outlines:
The Foundations of Operational Risk Management
- What is Risk and Operational Risk Management?
- The Benefits of Operational Risk Management
- The Operational Risk Management Framework
- The 6-step Operational Risk Management Cycle
- Enterprise Risk Management
- Risk Identification Process
- Risk Management Principles and Standards
- Risk Assessment
Risk Management Methods
- The Challenges of Risk Management
- Operational Risk Management in the Corporate Structure
- Probability and Statistics for Operational Risk Management
- Risk Modelling
- Failure Modes and Effects
- Risk Measurement
- Risk Maturity Level and Risk Appetite
- Risk Response
Risk Governance
- Risk Controls
- Key Risk Indicators (KRIs)
- Qualitative and Quantitative Risk Analysis
- Risk Actions
- Risk Reviews
- Risk Governance – Three Lines of Defense
- Risk Oversight, Documentation and Reporting
- Project Risk Management
Implementing Operational Risk Management
- Overcoming the Hurdles to Risk Management
- Risk Management Communication
- Setting a Risk Management Vision
- Stakeholder Ownership of Risk Management
- Instilling a Risk Management Culture
- International Attitudes to Risk
- Embedding Operational Risk Management
Integrating Risk Management into Your Operations
- Web-based Risk Management Tools
- Integrating Risk Management into Your Operations
- Top Tips for Successful Operational Risk Management
- Review of Learning
- Personal Action Planning Based on Lessons Learned from Course
