Date(s) - Monday, July 30, 2018
3:00 pm - 6:00 pm
Royal Bank of Scotland
Effective assessment of operational risks is a critical element of any operational risk management framework. Without effective assessment of risks, the organisation will have an incomplete understanding of its risk exposures resulting in inadequate risk response decisions. Most UK financial services firms have invested significant level of investment in implementing the process to perform risk assessments over the last 5-10 years. However, most organisations are still struggling to convince the risk owners within the first line to pro-actively identify and assess operational risks. In most organisations the assessment of risk is limited to a periodic exercise (once a year or quarterly) which has created a perception of it being considered as a compliance focused activity instead of a value-add activity for the business.
In this interactive workshop, Manoj Kulwal will share best practices from international risk management standards (e.g. ISO 31000, COSO ERM), UK challenger banks, large UK firms and non-UK firms. He will facilitate a constructive debate on the best practices so the participants can refine their understanding and learn from operational risk management practitioners from other firms. The key topics to be covered in this session are: –
- Understand the uncertainty aspect of risk
- Differentiating between risk and risk categories
- Defining effective risk assessment methodology
- Embedding risk assessment as part of business decision making, day-to-day business processes and responding to change
- Understanding the human and cultural factors which can dilute the quality of risk assessments and practices on how to address these
About Manoj Kulwal
Manoj Kulwal is passionate about utilising risk management as a business management tool for designing effective business strategy and successfully implementing the selected strategy. He has been involved in development of the international risk management standard ‘ISO 31000’ and in development of ‘Certificate of Operational Risk Management’ offered by The Institute of Operational Risk. He has trained more than 1,000+ operational risk management practitioners from financial services firms globally over the last 5 years. He is actively involved in hosting operational risk related webinars with experienced operational risk management practitioners and industry experts.
He is currently the Co-Founder and Chief Risk Officer at RiskSpotlight. At RiskSpotlight, he leads the team that developed the world’s first forward-looking operational risk news service – RiskSpotlight Portal.
Bookings are closed to the public for this event. Members should login to reserve a space.