| COURSE : CERTIFIED OPERATIONAL RISK MANAGEMENT PROFESSIONAL - CORMP | |
|---|---|
| Course Overview | For internal employees who want to understand and expand their roles related to financial reporting, as well as those who simply need a refresher on financial accounting, this course is the ideal way to get up to speed. By exploring concepts that go beyond basic accounting, this course will enable participants to approach financial auditing with renewed confidence. The programme will walk participants through an analysis of an organization’s financial statements using case study exercises, where participants will calculate key ratios and analyze trends over time. Engaging in discussions on both historic and current fraud cases, participants will learn how to recognize “red flags” in financial statement reporting. |
| Training Duration | Total Training Hours : 30 Hours Training Duration : 1 Week Total Training Days : 5 Working Days |
| Training Schedules | Weekdays (Sunday to Thursday) Regular Sessions : 6 Hrs Per day (9am to 2pm or 3.00pm to 9.00 pm) Food & refreshments Included WeekEnds (Friday & Saturday) Fast Track Sessions: 8 Hours per day (9am to 5pm) Food & refreshments Included |
| Certifications: | 1) Certificate from Laurels Training Institute, Attested by Knowledge & Human Development Authority (KHDA) government of Dubai, UAE OPTIONAL 2) Certificate from American Institute of Professional Studies (AIPS) from USA (After 15 Days of course Completion which will couriered to the attendees office address) |
| Tests | Yes |
| Learning Aids | Yes |
| Course Material | Hard & Soft Copies of Study Material |
| Language of Instruction | English |
| Instructor Helpline | Yes 1. Email 2. Social Media (For Emergency requirements) |
| Registration Requirements | 1. Passport Copy 2. Curriculum Vitae 3. Passport size photographs 4. Course Fee |
| Mode of Payment: | Cash / Cheque / Credit Card / Bank Transfer. |
| Eligibility Criteria (Who should attend this training) | - Risk Managers - Internal Auditors - Accountants - Backoffice Employees - Controllers - Managers - Compliance - Regulators - Account Managers |
| Course Benefits | 1. Position to fully understand the need for the creation of operational risk frameworks and their impact on the strategy and processes 2.To develop the understanding of operational risk management necessary to manage, comment and understand an institution’s own risk management plans and reports 3.To provide a practical and realistic approach to the implementing of an effective, best-practice operational risk management programme and the creation of the necessary risk culture |
| Course Contents / Outline | Introduction to Operational Risk Objectives Defining operational risk Significance of operational risk Operational risk management programs Addressing operational risk Measuring and modeling operational risk Basic Concepts Objectives Loss events Risk Factors, loss types and event/ factor controllability Dependencies between Risk Factors and Events Attribution of Loss Regulatory Treatment of Operational Risk under Basel-II Objectives Introduction, Definitions and data issues Measurement Methodologies Role of Pillars 2 and 3 Sound Practices Operational Risk in Various Banking Sectors Objectives Introduction and Spectrum of Risks Accounting policies, costing and pricing models Private banking sector Operational Risk in insurance Objectives Introduction Risks exclusive to insurance and Regulatory Issues Alternative Risk Transfer and Finite Risk Captives Captives Developing objectives and identifying risks Objectives Risk Management Agenda Risk Management Targets Risk Management Organization and Policies Benchmarking Internal Processes and Resources Identifying Process and Resource Risks Identifying Risk Factors Identifying and Categorizing Loss Events Estimating potential losses – Data Objectives Challenges to Operational Risk analysis General measurement techniques Historical analysis Subjective risk assessment Estimating potential losses – Loss distributions Objectives Overview of probability distributions Building a distribution Probability distributions Estimating risk factors Choosing an event distribution Operational Risk database Analyzing risks Objectives Aggregating risks Monte Carlo loss simulation Risk management alternatives Analyzing loss events Analyzing risky processes and resources Analyzing risk factors Loss prediction and prevention Objectives Loss prediction Loss prevention Process reengineering and work restructuring Product redesign and automation Human factors engineering ERP and reliability maintenance Loss control Objectives Introduction Diagnostic controls and Inventory management Redundant systems and boundary systems Computer security and physical security management Internal and external audit Loss reduction and risk avoidance Objectives Legal risk reduction and loss isolation Contingency Planning Crisis Management Risk avoidance Quality management Human resources management Organizational design, Culture and relationship management Risk financing Objectives Introduction Financial restructuring Asset-Liability Management Corporate diversification Insurance Self-Insurance Hedging using derivatives Contractual risk transfer Measurement framework Objectives ORM cycle Framework criteria and assumptions Current framework approaches Measurement process for ORM Delta and EVT methodologies ORM in practice Objectives Learning and response loops Guidelines for effective reporting Event reports and Operational profiles Risk reports Evaluating and updating the risk model Implementing bank-wide ORM Enterprise-wide Risk Management (ERM) Objectives Role of technology Enterprise-wide risk information systems Challenges to ERM Project Management for an ERM system Basic and causal models Objectives Operational Risk Management (ORM) model Top-down risk models Bottom-up risk models Selecting a risk model Causal models Legal risk and taxation rules Objectives Introduction Contract enforcement Board of directors and shareholder activism Management responsibility for legal risk Transparency and collateral Shifting ground in international taxation E-banking Objectives Introduction Operational risks associated with Electronic Banking Security risk Systems design, implementation, and maintenance flaws Customer misuse of products and services |