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Operational Risk Training – Building Risk Culture From Within

The fundamental base of any firm’s risk culture is the quality of the training its risk management team receives – including members of the operational risk team.

Operational risk is a complex, developing area within the financial services industry. Change is constant in the:

  • Nature of regulatory and compliance risks
  • Changing status of known operational risks
  • Emerging risks that may be unknown or only just understood
  • Evolving general operating environment for the business

No matter how much experience an op risk team member may have from within the business, or other areas of risk management, training specifically in the operational risk discipline is essential. For those team members with more experience within op risk, a good training programme can help to consolidate on-the-job learning and build additional skills that will contribute considerably to the overall team’s effectiveness.

Recognized training programmes also enable op risk team members to evolve within their career-enhancing job satisfaction and recognition of the firm’s team within the overall operational risk discipline.

Op risk team members who are seeking a deeper understanding of both operational risk theory and the practical tools used day-to-day in the job should consider Chase Cooper’s Practitioners’ Certificate for Operational Risk Management. This three-day intensive course provides the ability to:

  • Use key tools such as risk and control assessments, key risk indicators (KRIs), loss and event causal analysis, stress testing and scenario analysis
  • Design and execute investigations into existing op risk issues, and develop programmes for new, emerging issues
  • Communicate about op risk across the organization, from the Board of Directors to the Business
  • Understand the range of operational risk tools and methodologies currently in use within the discipline
  • Synthesise and evaluate a wide range of quantitative and qualitative data
    Partner within the op risk team, and across the business, to deliver on operational risk programme goals and objectives
  • Receive credits toward Post Graduate programmes from Glasgow Caledonian University, including a Post Graduate Certificate, a Post Graduate Diploma and an MSc.

Operational risk executives who are interested in building on this strong base of learning can go on to earn a Master Practitioners’ Certificate for Operational Risk Management. This second course – also conducted over an intensive three days – includes topics such as:

  • Exploring operational risk management and culture
  • Reinvigorating RCSAs with scenarios
  • Integrating operational risk with credit risk and market risk
  • Understanding risk appetite and control appetite more deeply
  • Examining important topics such as cyber risk and compliance risk in an op risk context

Both courses are taught by Professor Tony Blunden, head of consulting at Chase Cooper, co-author of Mastering Operational Risk, and a widely-recognized expert in the field.

Operational risk practitioners who have taken these courses have found them very worthwhile:

  • “The course was very informative and engaging. There are a number of useful takeaways from the course that will enable our firm to further develop and strengthen our operational risk management framework.” Senior Operational Risk Controller – Bank in Sweden
  • “Quite simply, in my 20-year banking career, this was the best course I have ever attended…I would advise working in an Operational Risk role to attend this course, and there will be another three members of our team attending in the not too distant future.” Operational Risk Manager, Big 4 UK bank

The Practitioners’ Certificate course is also certified by the SCQF (the Scottish Credit and Qualifications Framework which is the Scottish equivalent of the English Ofqual). Those enrolled who are working towards their MSc will also have continuing access to learning resources at Glasgow Caledonian University, at the Glasgow and the London campuses.

Chase Cooper also offers a wide range of other operational risk courses, including workshops on:

To speak with Chase Cooper about any of the educational opportunities available, or to ask questions, please email training@chasecooper.com or call us on 0207 377 2284.