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• Defining Operational Risk:
o Types of operational risks (people, process, systems, external events)
o Impact of operational risks on business operations
• Operational Risk Management Frameworks:
o COSO ERM Framework
o Basel II and Basel III
o ISO 31000
• Risk Appetite and Tolerance:
o Establishing risk appetite and tolerance levels
o Aligning risk appetite with business strategy
• Risk Identification Techniques:
o Brainstorming
o Checklists
o Scenario analysis
o Hazard identification and risk analysis (HIRA)
• Risk Assessment Methodologies:
o Qualitative risk assessment
o Quantitative risk assessment
o Key Risk Indicators (KRIs) and Key Performance Indicators (KPIs)
• Prioritizing Risks:
o Risk ranking and scoring
o Risk heat maps
• Risk Mitigation Techniques:
o Risk avoidance
o Risk reduction
o Risk transfer
o Risk acceptance
• Control Frameworks:
o Internal controls
o Policy and procedure development
o Monitoring and control activities
• Business Continuity and Disaster Recovery Planning:
o Business impact analysis (BIA)
o Disaster recovery plan (DRP)
• Key Risk Indicators (KRIs):
o Developing and monitoring KRIs
o Using KRIs to identify emerging risks
• Risk Reporting and Communication:
o Reporting to senior management and the board
o Effective communication of risk information
• Risk Management Frameworks and Tools:
o Implementing risk management software and tools
• Cybersecurity Risks:
o Cyber threats and vulnerabilities
o Cybersecurity best practices
• Operational Resilience:
o Building resilient organizations
o Crisis management and business continuity
• Regulatory and Compliance Risks:
o Staying compliant with evolving regulations
o Conducting regulatory impact assessments
• The Future of Operational Risk Management:
o Emerging technologies and their impact on risk
o The role of AI and machine learning in risk management