Fundamentals Of Risk And Risk Management Governance Model

Learn the Fundamentals of Risks, Risk Assessment, and Risk Management Governance Models implemented in Institutions

What you'll learn

Fundamentals of Risks, Events, and Outcomes, with Examples

Risk Types and Risk Sources - Different Risks Faced by Organizations/Institutions, 'Sources' of Risks for Risk Identification and Risks Extraction

Risk Assessment - Inherent and Residual Risk Assessments, Risk Assessment Methodology, Matrix and Application of Risk Methodology with Example

Risk Management Governance Model - Three Lines of Defense Model TLOD of Risk Management

Risk Management Cultures, including Strong and Weak Risk Management Cultures

Risk Management Governance including Risk Management Committees, their Structures, Composition and Roles/Responsibilities

Differentiating between 'Board Level' and 'Management Level' Risk Management Committees, their Compositions and Roles/Responsibilities

Roles and Responsibilities of Risk Management Function, headed by the Chief Risk Officer CRO, and Risk Management Team

'Organogram/Diagram' of the Overall Risk Management Governance Model Implemented in Institutions

Quiz and Multiple Choice Questions MCQs

Requirements

Basic Level Knowledge and Understanding of Risk Management Practices

Description

Risk is inherent in every process and system that a company or an institution uses. Due to the complexity of business operations, advancement of technology, increased customer expectations, and complex regulatory requirements, the identification and management of risks have become a challenge for companies, institutions, and organizations.  On an overall basis, due to the weak risk management practices, the companies, and institutions lose millions of dollars each year.Most of the business and, operational failures that occurred in the past are due to Weak Risk Management Culture and Practices. Weak Risk Management Governance always leads to significant losses, including Financial, Operational, Compliance, and Reputational Losses. Ensuring the Implementation of 'Robust Risk Management Governance Structures and Practices' to identify and manage Risks are the key 'regulatory requirements to be complied with by companies and institutions working in different sectors such as Financial Institutions, Manufacturing Companies, Financial Technology Companies, Service Businesses, Health and Safety Organizations, etc. WHY RISK MANAGEMENT IS IMPORTANT?Risk Management is relevant for all types of companies and organizations such as Banks, Money Service Businesses, Brokerage Houses, Investment Companies, FMCGs, Pharmaceutical Companies, Leasing Companies, Heath-Sector Companies, Oil and Gas Companies, etc. These organizations and institutions spend millions of dollars on an yearly basis, to identify and manage their risks, and to remain relevant and competitive in the industry. All big consultancy firms in the world provide risk management consulting and advisory services, to their clients operating in the above domains and they charge millions of dollars as consultancy fees, from their clients. WHAT WILL YOU LEARN?This course is divided into two Modules:In this course, you will learn about core areas of Risk Management and Risk Management Governance Models, such as: MODULE 1 - UNDERSTANDING CONCEPTS OF RISKS, RISK CULTURES, RISK TYPES, ETC - Risk, events, outcomes and adverse impacts, - Types of risks, and examples, - Risks Segregation - Significant and Insignificant Risks with Examples,- Strategic and Process Level Risks and Control Application with ExamplesMODULE 2 - RISK SOURCES, RISK MANAGEMENT CULTURES AND QUIZ- Different Risk Sources and their Significance in Risk Management,- Risk Management Culture, its Importance and Significance in achieving results,- Outcomes of practicing Weak Risk Management Culture - Negative Outcomes,MODULE 3 - RISK ASSESSMENT METHODOLOGY AND ITS APPLICATION - Understanding Risk Management Process with an Example,- Risk Assessment Methodology, - understanding 5 by 5 Risk Assessment Matrix and Its Structure,  - Application of Risk Assessment Matrix, with Example,MODULE 4 - RISK MANAGEMENT GOVERNANCE, HIERARCHY, COMMITTEES, AND RISK MANAGEMENT FUNCTION - Overview of 'Board of Directors' and Board Level 'Sub Committees',- Understanding 'Governance Structure of Risk Management' implemented in Institutions and Organizations,- Risk Management - Three Lines of Defense TLOD Model for Risk Governance and Management, - Roles and Responsibilities of 'Board of Directors', 'Risk Management Committees', 'Risk Management Function',- 'Organogram/Structure Diagram' of 'Risk Management Governance, Committees, Function and Units',QUIZ AND MCQs- Quiz Tests- Multiple Choice Questions MCQs In this course, you will also learn special risk management terminologies used in institutions and organizations. BENEFITS OF ATTENDING THIS COURSE:By attending this course you will:- be able to understand, how institutions, organizations, and companies identify risks from various sources, assess them, and manage with effective and robust Risk Management Governance Models, Hierarchies, Committees, and a Risk Function,- be able to talk confidently with risk management professionals and consultants regarding risk management governance, practices and activities of board and management level 'risk management committees' and 'risk function',- be able to work in consultancy firms or organizations in their risk management departments, - get a certificate of completion of this course,  - be able to pursue a career progression in risk management.WHO SHOULD ATTEND THIS COURSE?This course should be attended by:Risk management professionalsOperational risk heads or managersLiquidity risk heads or managers Compliance risk heads and managersRisk management consultantsCompliance professionalsIS Security professionalsProfessionals working in Banks, MSBs, Fin-Techs, E-Commerce, Oil and Gas, Manufacturing, and other regulated entities or institutionsRisk Advisors and consulting firmsBranch managers / Operation managersInternal auditorsInternal controls professionals CFA / FRM / CA / ACCA / CAMS or Finance students andOthers who want to learn risk management and its components

Overview

Section 1: Introduction

Lecture 1 Introduction of Instructor

Lecture 2 Course Overview - What Will You Learn In This Course

Section 2: Module 1 - Understanding Concepts of Risks, Risk Levels, and Types of Risks

Lecture 3 Understanding Risk, Event and Adverse Impact

Lecture 4 Examples Risk Event and Adverse Impact

Lecture 5 Different Types of Risks

Lecture 6 Risks Segregation - Significant and Insignificant Risks with Examples

Lecture 7 Understanding Strategic and Process Level Risks

Lecture 8 Example of Strategic Level Risk and Control Application

Lecture 9 Example of Process Level Risk and Control Application

Lecture 10 Understanding Different Enterprise Risks and their Causes

Section 3: Module 2 - Risk Sources, Risk Management Culture and Quiz

Lecture 11 Risk Sources - Internal Risks Sources with Examples

Lecture 12 Risk Sources - External Risk Sources with Examples

Lecture 13 Purpose of Identifying Risk Sources

Lecture 14 Quiz - Risk Sources

Lecture 15 Understanding Strong Risk Management Culture and Its Components

Lecture 16 Understanding Weak Risk Management Culture and Its Key Indicators

Lecture 17 Outcomes of Practicing Weak Risk Management Culture - Negative Outcomes

Lecture 18 Quiz - Risk Management Culture

Section 4: Module 3 - Risk Management Process, Assessment Methodology, and Its Application

Lecture 19 Risk Management Process with Example

Lecture 20 What are Inherent Risks and Residual Risks with Examples

Lecture 21 Risk Assessment Methodology - High Medium and Low Risk Levels

Lecture 22 Assigning Inherent and Residual Risk Scores

Lecture 23 Example - Inherent and Residual Risk Assessment by an E Commerce Company

Lecture 24 Example - Inherent Risk and Residual Risk Assessment Scoring of Vendor Company

Lecture 25 Understanding 5 by 5 Risk Assessment Matrix - Impact and Likelihood Assessment

Lecture 26 When Do We Use Risk Assessment Matrix

Lecture 27 Example - Application of Risk Assessment Methodology Matrix for Risk Ratings

Lecture 28 Risk Register after Application of Risk Assessment Methodology Matrix

Section 5: Module 4 - Risk Management Governance Model, Risk Committees and Risk Function

Lecture 29 Overview of 'Board of Directors' and Board Level 'Sub Committees'

Lecture 30 Understanding the Governance Structure of Risk Management

Lecture 31 Risk Management Three Lines of Defense TLOD Model

Lecture 32 Roles of 'Board of Directors' in Risk Management

Lecture 33 Roles of 'Management Level' 'Risk Management Committee - RMC'

Lecture 34 Composition Diagram of Management Level 'Risk Management Committee RMC'

Lecture 35 Composition Diagram of 'Board Level Risk Management Committee BRMC'

Lecture 36 Independence of Risk Management Function

Lecture 37 Roles of Risk Management Function - Risk Management Activities

Lecture 38 Roles of Risk Management Function - Communication

Lecture 39 Resources of Risk Management Function

Lecture 40 Critical Responsibilities of Risk Management Function

Lecture 41 Risk Management Board Level Governance, Committees and Risk Function Hierarchy

Section 6: Multiple Choice Questions MCQs

Risk Management Professionals and Risk Management Consultants,Enterprise Risk Management ERM Professionals,Operational Risk Management ORM Professionals, Liquidity Risk Management Professionals, Financial Risk Management Professionals,Chief Risk Officers CROs and Risk Managers,Internal Auditors and Internal Controls Professionals,Compliance Professionals,Board of Directors and Senior Management Personnel,Professionals working in Regulatory Bodies / Departments under Risk Management Domains,Business and Company Owners,Students of Risk Management or those who are pursuing a career in Risk Management