Operational risk is a major issue irrespective of whether you are a technology driven or process driven organisation. Gone are the days when operational risks were considered only as a component of engineering risk focusing on breakdowns and technology failures. Financial institutions were the first one to embrace operational risk as a mainstream risk factor and are now being followed by other industries. In face of increased competition managing operational risk to support the bottom line is a “micro-management” issue that has a potential of generating huge savings.

Financial control is a readily available framework that can be modified to include operational risk within its ambit. Understanding of how financial and internal control can be integrated with operational risk management will open the process of developing and operationalising the control mechanism.

This workshop develops the concept of operational risk management from simple process review and extends it to modelling that can be used to foresee operational risk losses. Delivered in simple language with plenty of case studies and session exercises, the workshop reflects the subject knowledge and practical experience of the resource persons.

Operational risk is the talk of the town and can you shy away from the reality?