Operations Risk Management and Mitigation - from Assessment to Implementation: 2-day In-person Seminar

Event Details

Operations Risk Management and Mitigation - from Assessment to Implementation: 2-day In-person Seminar

Time: June 6, 2019 at 8:30am to June 7, 2019 at 4:30pm
Location: Chicago, IL
Website or Map: http://www.shareasale.com/r.c…
Phone: +1-650-620-3915
Event Type: conference
Organized By: Ashutos
Latest Activity: May 13

Export to Outlook or iCal (.ics)

Event Description

Aims

Recently, a series of headline-grabbing operational risk incidents at banks, other financial institutions and even regulators have again brought the issue of operational risk management to the forefront of the agendas of CEOs, CROs, risk managers and internal and external auditors alike. These incidents are wide ranging and flow from bank ATM collapses, bank operating system failures, regulatory settlements in the ongoing US sub-prime mortgage saga, rogue traders and the connected risk managers who either missed or were willfully blind to all the warning signs.

As the size and complexity of financial institutions have increased, so too have the challenges of understanding and reducing operational risks down to truly manageable levels. Increased regulatory concern and scrutiny have also increased the cost of operational risk events in the shape of outright financial loss, regulatory fines and declining customer confidence

Operational Risk Management (ORM) is an effective tool for not only maintaining but increasing, bank profits, shareholder value, public perceptions and goodwill. Executed properly, improvements in ORM can lead to substantial financial, reputational and regulatory benefits – all this adds to increased profitability, greater financial stability and improved customer satisfaction. But to achieve these gains, financial institutions must apply a consistent and comprehensive approach to managing their operational risks. They must also understand that this approach is fundamentally different from the approaches that they use in managing market, credit and liquidity risks.

Bad Operational Risk Management has a severely negative effect on financial institutions in four very clear ways:

  1. Actual operational risk losses are a direct hit to the income statement.
  2. The market punishes companies, via the stock price, for operational risk failures and this loss could well exceed the actual financial loss experienced.
  3. Lowered Credit Ratings, which raises the institutions cost of borrowing money in the marketplace.
  4. Operational risk failures can vastly increase the cost of compliance by raising the level of regulatory scrutiny and complexity not to mention substantial penalties.

All too often banks have seen the need to effectively manage their operational risks as simply an issue of complying with what the bank regulator requires, rather than a disciplined process that serves to not only ensure a banks survival but which can, in the long run, contribute to that bank’s financial fortune.

Implementing an effective Operational Risk Management routine is a complex process. At its core is an understanding of what Operations Risk is and how it can be managed. This course is an intensive introduction to Operations Risk management and mitigation. It is designed to provide a practical “hands-on” approach to participants which will furnish them with all the tools and techniques they need to begin implementing what they have learned as soon as they return to the office.

The underlying course philosophy is to move the participants beyond the largely theoretical international compliance requirements for operations risk (such as contained in the Basel Accords), and into an understanding of the practice of operations risk management and an ability to actually implement these procedures.

Note: Use coupon code REFERRAL10 and get 10% off on registration. 

Comment Wall

Comment

RSVP for Operations Risk Management and Mitigation - from Assessment to Implementation: 2-day In-person Seminar to add comments!

Join GlobalRisk community

Attending (1)

Our Sponsors

Would you like to reach over 70,000 + Risk Professionals? 

REQUEST OUR MEDIA KIT

______________________

Current Partners Include:


Join GRC Inner Circle - Get Top Risk Resources, Member Support PLUS become our patron

Business Exchange

If your organization delivers products and services that bring value to our members, you are welcome to join our partnership program.

Companies are welcome to setup a business profile page in our Multimedia Business Directory. You will get full control of the page and can include cutting edge possibilities – videos, adverts, presentations, white papers, job offers, Press Releases, product information, company blog, news feeds and more.

CLICK HERE TO APPLY

Our Knowledge Partners

Request our MEDIA KIT

Our Twitter feed

© 2019   Created by Boris Agranovich.   Powered by

Badges  |  Report an Issue  |  Terms of Service