Managing Operational Risks in business line: Strategies for Executive managers#300224

• Analyse the impact of emerging trends and potential disruptions on their specific business lines, utilizing future studies methodologies like scenario planning and horizon scanning.
• Identify and assess key operational risks specific to their business line's processes, considering future vulnerabilities and potential cascading effects.
• Develop and implement proactive risk mitigation strategies tailored to their business line, addressing future threats to operational efficiency, customer satisfaction, and profitability.
• Integrate operational risk management into their business line's strategic planning processes, ensuring long-term alignment with organizational goals.
• Leverage risk management frameworks (e.g., COSO, ISO 31000) to establish a robust operational risk management program within their business line.
• Utilize data analytics to identify emerging operational risks within their business line and inform proactive mitigation strategies.
• Communicate operational risks effectively to their teams, fostering a culture of risk awareness and proactive management.
• Develop a strategic action plan for implementing future-proof operational risk management practices within their specific business line.

• Business line executives (e.g., heads of sales, marketing, operations) responsible for managing operational performance and mitigating risks within their departments.
• Risk management professionals seeking to collaborate with business line leaders on developing and implementing effective operational risk management strategies.
• Anyone interested in gaining a comprehensive understanding of operational risks specific to different business lines and how to manage them effectively in a future context.

• Pre-assessment
• Live group instruction
• Use of real-world examples, case studies and exercises
• Interactive participation and discussion
• Power point presentation, LCD and flip chart
• Group activities and tests
• Each participant receives a binder containing a copy of the presentation
• slides and handouts
• Post-assessment

Day 1: The Future of Business Line Operations
• Welcome and program overview.
• Understanding Business Line Specific Risks: Exploring the unique operational risks associated with different business lines (e.g., sales, marketing, operations, supply chain) and how they may evolve in a future context.
• Future Studies for Business Line Risk Management: Learning how to incorporate scenario planning, horizon scanning, and other future studies methodologies to identify potential future disruptions and their impact on operational risks within specific business lines.
• Case Study: Analysing a real-world example of a business line that successfully mitigated a future disruption by proactively managing operational risks.
Day 2: Identifying & Assessing Future Risks in Your Business Line
• Mapping Business Line Processes & Risk Identification: Learning how to map key business processes specific to your business line and identify potential operational risks associated with each stage, considering future trends and potential disruptions.
• Future-Proofing Risk Assessments: Understanding how to adapt traditional risk assessment methodologies to incorporate future considerations, such as emerging technologies, changing customer behavior, and potential regulatory changes.
• Data Analytics for Business Line Risk Management: Exploring how data analytics can be leveraged to identify emerging operational risks within your business line, assess their likelihood and impact, and inform proactive mitigation strategies.
• Workshop: Participants work in teams to identify and assess key operational risks specific to their business lines, considering future trends and potential disruptions. They will utilize a risk assessment framework incorporating future studies methodologies.
Day 3: Developing Future-Proof Risk Mitigation Strategies
• Proactive Risk Mitigation Strategies for Business Lines: Exploring and tailoring risk mitigation strategies to address future threats relevant to your business line, such as cyber security breaches, talent shortages, and supply chain disruptions.
• Scenario Planning & Contingency Planning: Learning how to develop scenario-based contingency plans to ensure operational resilience in the face of potential future disruptions specific to your business line.
• Business Continuity Planning & Risk Management: Understanding how to integrate business continuity planning with operational risk management to ensure your business line can recover effectively from unexpected events in a future context.
• Case Study: Analysing a real-world example of a business line that implemented effective mitigation strategies and contingency plans to address a future disruption, minimizing negative impacts.
Day 4: Integrating Risk Management & Strategic Planning
• Aligning Operational Risk Management with Business Line Strategy: Learning how to integrate operational risk management into your business line's strategic planning processes, ensuring long-term alignment with organizational goals and future considerations.
• Performance Measurement & Risk Management: Exploring key performance indicators (KPIs) for operational risk management within the context of your specific business line.
• Building a Culture of Risk Awareness: Developing strategies for fostering a culture of risk awareness and proactive management within your business line, encouraging employee engagement and risk reporting.
• Guest Speaker: A risk management professional or a business line leader can be invited to share their experiences and insights on integrating risk management with strategic planning.
Day 5: Action Planning & Continuous Improvement
• Communicating Operational Risks Effectively: Developing effective communication strategies to present operational risk information clearly and concisely to different stakeholders (e.g., senior management, team members), promoting risk awareness and buy-in for proactive management.
• Developing a Strategic Action Plan: Participants develop a personalized action plan outlining steps to implement future-proof operational risk management practices within their specific business line. This may include conducting scenario planning exercises, integrating data analytics into risk assessments, and building a culture of risk awareness.
• Continuous Learning & Staying Updated: Understanding the importance of continuous learning and staying updated on emerging trends, technologies, and best practices in operational risk management specific to your business line.
• Course Wrap-Up & Ongoing Support: Reviewing key takeaways from the program, addressing any remaining questions, and discussing ongoing learning and support resources.
• Networking & Knowledge Sharing: Participants engage in a facilitated discussion about the challenges and opportunities of managing operational risks in different business lines. They share best practices for implementing future-proof strategies within their organizations.