Implementing a Basel III and COSO Compliant Operational Risk

Course Description:

Recent scandals as well as legal and regulatory actions against major financial institutions, which resulted in multi-billion losses, have highlighted the need to maintain a robust operational risk management program. Additionally, both federal and state regulators expect financial services companies to demonstrate that they have a credible operational risk management program in place, which is commensurate with the size and complexity of the institution, and compliant with the latest norms and standards, including Basel III, Sarbanes-Oxley, COSO, Solvency II and ORSA.

This two-day workshop will take participants through the process of implementing and establishing a Basel III and COSO compliant operational risk management program. It will detail and discuss:

• Definition of Operational Risk
• Principles for the Sound Management of Operational Risk (Basel Committee on Bank Supervision)
• Operational Risk Management Framework, Policy, Governance and Organization
• Risk Capacity, Tolerance and Appetite
• Risk and Control Taxonomy
• Risk and Control Self-Assessment
• Key Risk Indicators
• Loss Event Data Collection and Analysis
• Scenario Analysis
• Emerging Risks/New Products/New Initiatives
• Third Party Providers/Outsourcing
• Issue Tracking and Resolution
• Operational Risk Capital

Learning Objectives:

Participants will gain a detailed understanding of the following topics:

• How to develop a comprehensive operational risk management program designed for financial services companies such as banks, securities brokers, asset management companies and insurers, and compliant with major standards and regulations.
• How to develop an effective risk and control self-assessment process to identify, assess and mitigate key operational risks, a loss event database to collect, analyze and report operational risk incidents and a key risk indicator program to track objective information on risk exposure and control effectiveness.
• How to analyze scenarios involving extreme events and to estimate the probability of occurrence and potential impact of these events.
• How to review and assess emerging risks, new products and new initiatives such as major systems development projects, and the risks associated with third party providers and outsourcing partners.
• How to track the resolution of control deficiencies until they are fully remediated.
• How to calculate the capital required for operational risk.

Who Will Benefit:

• Risk Officers
• Compliance Officers
• Internal and External Auditors
• Financial Controllers
• Operations Managers
• Information Technology Managers
• Auditors
• Security Personnel
• Fund Managers
• Legal Officers
• Bank Regulators
• Asset Management Firms’ Representatives

For Registration -  http://www.complianceonline.com/implementing-a-basel-iii-coso-compliant-operational-risk-management-program-seminar-training-80271SEM-prdsm?channel=pickevent

Note: Use coupon code 232082 and get 10% off on registration.