Operational Risk Management & Best Practices Course & Introduction

In this article, we will give a brief outline about the Operational Risk Management & Best Practices Course & Introduction and topics to be covered in the Operational Risk Management & Best Practices. With the advent of new technology and its seamless integration into multiple products, opeartions and other work, Operational excellence is becoming a key area. It is very very important for a company or organization which is either involved in people, process or technology to maintain an excellence in practicing opeartions. The following topics will give a brief overview of Operational Risk Management & Best Practices.
Let's begin with the basics for the Operational Risk Management & Best Practices:

Introduction to Operational Risk Management in trading and investment scenario:

  - Using Derivatives Versus Trading the Underlying Asset/Security/Commodity

Drivers And Design of Operational Risk Management Steps:

  - Recognize the requirements for operational risk in your company/organization

  - Build upon an operational risk framework & Optimize its design

  - The key elements of an operational risk management framework

  - Planning the implementation or enhancement of an operational risk framework

  - Track the progress as it is recursive in nature

Training, Marketing And Culture Change for Operational Risk Management:

  - Need for an effective Operational Risk Management training program

  - Whether to launch a Operational Risk Management plan

  - Effects and requirements for culture change

  - Making and Winning over partners: Audit, SOX, Compliance etc.

Risk And Control in Operational Risk Management :

  - Advantages and Disadvantages of different styles of RCS

  - Plans for RCS implementation and its maintenance

  - Setting standards and procedures for RCS

  - Setting scope and content of RCS

Key Risk Indicators (KRIs) within Operational Risk Management:

  - Types of KRIs

  - How to collect the KRIs which are relevant to your organization's Operational Risk Management

  - Identify the root cause or Sources of KRIs

Importance of Reporting in Operational Risk Management:

  - The need of Answering the "So What?" questions

  - Effective loss data reporting

  - Effective RCSA reporting

  - Effective KRI reporting

  - Effective operational risk reporting

Selecting the right IT or Technology Tools :

  - Build or Buy Decision

  - The RFP process

  - What to ask in a demo

  - Assessing how a technology tool might fit your needs