Operational Risk Management and Mitigation Strategies

• Increased understanding of the components that make up a Risk Management Framework
• Enhanced ability to apply systematic Operational Risk Management techniques
• Enhanced ability to plan for, identify, analyse and control Operational Risk
• Greater ability to gain buy-in to Risk Management from key stakeholders
• Increase understanding of tools available to simplify Operational Risk Management
• Enhanced understanding of the application and advantages of Risk Governance

Course Objectives:

At the end of this course, the participants should be able to

• 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 organisation
• Document, report and manage Operational Risk
• Apply a systematic approach to Risk Management within your own operations

Target Audience:

• Risk Management Professionals
• Operations Managers
• Senior Team Leaders
• Maintenance Managers, Engineers and Technicians
• Operations Planners

• Quality assurance
• Procedures Development and Documentation
• Internal audit
• Operations Management
• Customer Care and Service Quality
• Continuous Improvement
• Identifying customer needs

Course Methodology:

This training course will be carried out through the use of best practices and the right combination of engaging and purposeful tools such as:

• Practical, relevant case studies
• Group activities and workshops
• Related role plays
• Experiential learning
• Brainstorming
• Stimulating mental activities
• Engaging team competitions
• Suitable training Videos
• Presentations
• Self–assessments
• Learning with Simulations and Games

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 Governance -cont'd-

• 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