Introduction to Operational Risk - Webinar By GlobalCompliancePanel

Introduction to Operational Risk - Webinar By GlobalCompliancePanel

Why you should attend: To avoid repeating the painful operational risk management failures that we have witnessed in such diverse organizations as Toyota's quality failures, banking's loan processing failures, organizations need to address operational risk in a holistic and systematic process. This course will provide an overview of the Basel framework to operational risk and argue that is a viable means for non-banking organizations to categorize and classify the major areas of operational risk. We will do a deeper dive into the two most critical elements of operational risk - legal risk, especially the risks from litigation and discovery, and the risks from financial crimes - internal fraud, external fraud, anti-money laundering, know your customer, etc. This three hour webinar is designed to provide an introduction to operational risk management including the major frameworks and standards in use today and simple techniques you can apply to reduce both legal risk and the risk of financial crimes, and guidelines to institute a systematic approach to operational risk.

Areas Covered In the Seminar: After attending this session, you will be able to:

PART ONE Identify the major categories of Risk according to Basel

List the seven major categories, 20 categories, and 40 subcategories of operational risk

What to look for in taking a holistic and systematic approach to op risk

Comprehend the major qualitative and quantitative tools used in op risk

Understand how self assessments, scorecards, KRIs, and scenarios are used as qualitative tools

Grasp why both internal and external loss data is essential in using quantitative tools

Go through the example of Toyota and BP to illustrate the root causes of op risk failures

PART TWO Comprehend the scope of legal discovery

Appreciate the importance of the Federal Rules of Civil Procedure

Grasp why America's litigious nature is spreading to its trading partners.

Understand how to mitigate your legal risk

PART THREE Comprehend the importance of the Principle/Agent problem

Use simple measures to reduce financial crimes.

Grasp that corruption is a way of life in much of the world.

Understand the basics of the major anti corruption and bribery standards

Appreciate the value of whistleblowers in a free society

Who will benefit: Risk and Compliance Managers

Accounting and Finance Managers

Internal and External Auditors

Sarbanes-Oxley Managers

Operational Managers in all types of Industries

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