Overview

This "Fundamentals of Ris Management in Financial Services" course is a comprehensive course, that will take you from the basics of Risk Management to the in-depth knowledge of key components of Risk Management, including Operational Risk Management ORM, Cybersecurity Risk Management, Compliance Risk Management, and Credit Risk Management.ABOUT THE COURSEThis course covers the 'Fundamental Knowledge' of Risk Management Processes and Activities' that are performed by financial services institutions, to identify, assess, control, mitigate, and monitor various types of risks, including Operational Risks, Cybersecurity Risks, Compliance Risks, and Credit Risks. This course will help you understand the key concepts including Risks, Risk Events, Types of Risks, Major Types of Risks faced and managed by Financial Services Institutions, Risk Differences, Risk Events, Types of Significant Risks, Significance and Insignificance of Risks, and Interrelatedness of Risk Types, and Risk Management Process.In this course you will also learn the following Major Categories of Risks and their relevant Risk Management Startegies and Processes;1. Operational Risk Management ORM2. Cybersecurity Risk Management 3. Compliance Risk Management4. Credit Risk ManagementTOPICS COVERED IN THIS COURSEUnderstanding Event Risk and Adverse OutcomesExamples of Events and Adverse OutcomesRisk leading to Adverse OutcomesMajor Types of Risks Faced by Institutions and OrganizationsRisk Management Steps and ProcessOperational Risk ManagementOperational Risks and Its ComponentsUnderstanding Operational Risk with ExamplesInternal Process and Systems Implemented in InstitutionsOperational Risk - People or Human Resource Loss Risk ExplainedExamples - People, Process and System Operational RisksOperational Risk Event Types5 Operational Risk Management StepsStep 1 Operational Risks IdentificationStep 2 Operational Risks Assessment Step 3 and 4 Operational Risks Mitigation and MonitoringStep 5 Operational Risk Management ORM Scenario AnalysisAvoidable Operational Losses and ExamplesCalculation of Operational Risk Events ExposureCybersecurity Risk ManagementUnderstanding Cybersecurity and Cybersecurity RiskWhat Cybersecurity DoesCommon Types of CyberattacksCybersecurity ControlsKey Cybersecurity Risks and VulnerabilitiesUnderstanding of Cybersecurity Risk Management5 Step Process of Cybersecurity Risk ManagementStep 1 of Cybersecurity Process - IdentificationStep 2 of Cybersecurity Management - PrioritizationStep 3 of Cybersecurity Management - Threats AssessmentStep 4 of Cybersecurity Risk Management - Likelihood and Impact AssessmentStep 5 of Cybersecurity Risk Management - Control Plan and MonitoringCompliance Risk ManagementUnderstanding ComplianceUnderstanding Compliance Risk and OutcomesMeasures by Institutions to Counter Compliance RisksExample 1 - Compliance Risk SituationExample 2 - Compliance Risk Situation an AML Requirement4 Step Process of Compliance Risk ManagementStep 1 of Compliance Risk Management with Example - IdentificationStep 2 of Compliance Risk Management - AssessmentStep 3 of Compliance Risk Management - MitigationStep 4 of Compliance Risk Management - Monitoring and ControlCredit Risk ManagementUnderstanding Credit Risk5 Credit Risk Management PracticesGovernance Mechanism of Credit Risk ManagementCredit Risk Management Governance RolesCredit Risk Management Committee Roles in Credit Risk ManagementRoles of Management in Credit Risk ManagementCustomer's Risk Assessment and Profile DevelopmentExample 1 of Credit Risk AssessmentExample 2 of Credit Risk AssessmentSector Risk Assessment for Credit Profile BuildingExample - Performing Sector Risk AssessmentCredit Risk Indicators as Early Warning SignalsCredit Risk Monitoring and ControlCase Scenario - Credit Risk ManagementInterrelatedness of Risks and Risk ComponentsUnderstanding the Concept of Interrelated RisksExample - One Type of Risk Triggering other Types of RisksQuiz 1 - Interrelated RisksQuiz 2 - Interrelated RisksUnderstanding Significant and Insignificant RisksQuiz - Identification of Significant and Insignificant Risks from ScenariosCase ScenariosScenario 1 - Fixed Assets Purchase - Application of Risk Management ProcessScenario 2 - Customers Onboarding Risks - Application of Risk Management ProcessMultiple Choice Questions MCQsTo test your knowledge of Risk Management in Financial Services, Multiple Choice Questions MCQs are designed as part of this course. WHY RISK MANAGEMENT IN FINANCIAL SERVICES IS IMPORTANT?Risk Management RM practices are important and relevant for almost all types of Institutions and Organizations including Money Service Businesses, Banks, Financial Technology Institutions FinTechs, E-Commerce and Connected Commerce Institutions, Insurance, Stock Exchanges, Brokerage Houses, Investment Houses, Crypto exchanges, Heath Care Institutions, etc. All these institutions are exposed to various types and levels of risks, which they manage to remain competitive in the market. For Financial Services Institutions, the importance of Risk Management is much higher because of various reasons including dependency on technology to manage operations, obligations to comply with complex laws and regulatory requirements, exposure to crimes such as fraud, cyberattacks, and money laundering, use and handling critical customers' and institution's data, processing complex financial transactions, managing funds of depositors, need for robust management of financial and liquidity, increased level of market competition and customers' expectations, etc. The institutions therefore spend millions of dollars on risk management processes and systems, to effectively manage all major categories of risks that we will cover in this course. Institutions want to remain competitive and operational in the industry, therefore expert risk management professionals are hired by them to build and implement effective risk management strategies and processes. You can think of the importance of Risk Management by the fact that all big international consultancy firms in the world provide Risk Advisory and Risk Management Services, to Institutions and Organizations. Risk Consultants and Advisory Firms charge millions of dollars as their consultancy fees, to help institutions manage their risks. BENEFITS OF ATTENDING THIS COURSE:By attending this course you will:- be able to understand fundamental concepts of Risk Management, and learn how institutions Govern and Implement Risk Management Processes to identify, assess, and mitigate different risks;- be able to talk confidently with Risk Management Professionals and Consultants regarding different types of risks and related risk management processes implemented in institutions, including Operational Risks, Cybersecurity Risks, Compliance Risks, and Credit Risks;- be able to perform research and analysis on Risk Management, - be able to pursue a career progression in risk management field and profession, - get a certificate of completion of this course, WHO SHOULD ATTEND THIS COURSE?This course is designed for everyone who wants to learn Risk Management and Risk Management Practices and Processes, especially those who are working in Financial Services Institutions and Organizations. This course should be attended by:Risk management professionals / Chief Risk Officers / Risk Analysts Operational Risk Managers and Compliance Risk ManagersCompliance professionals, Compliance Managers / Cybersecurity Auditors / CISOs / Liquidity Risk Managers / Compliance Analysts / MLROs Credit Risk Analysts and Credit Risk ManagersCybersecurity and IS Security professionalsRisk Advisors and Consulting FirmsBranch managers / Operation Managers Internal auditorsInternal controls professionals CFA / FRM / CA / ACCA / CAMS or Finance students andOthers who want to learn risk management and its componentsThank you

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