Programme overview

Designed and delivered by leading experts in the field in partnership with PECB, the purpose of the ORM Certification is to provide the required knowledge that Operational Risk Managers need to enter, manage and lead the operational risk discipline in financial services.

This programme covers various published sources, market standards, general market practices, and findings from recent research. The intention is to collate as much relevant knowledge for professional development as possible in one programme. This will provide a comprehensive view of ORM standards and theory, and the best market practices for professionals in the field.

The qualified trainers, course content and related exams help professionals acquire and demonstrate the skills and ability to execute their function effectively and gain professional recognition in the field.

Upon completing the training course, you can take the relevant exam and apply to be a ‘PECB Certified Operational Risk Manager’. Candidates can select the coverage and examination required to obtain the certification at:

  • Operational Risk Manager (3-day course)
  • Operational Risk Lead Manager levels (5-day course)

Learning Objectives

  • Understand the regulatory requirements and best practices of operational risk management in the financial services
  • Learn how to establish and operate an operational risk management framework in the context of a financial organization
  • Understand the approaches, methods, and tools to identify, assess, mitigate, and monitor operational risk in the financial services industry
  • Understand core components of the course curriculum, including: ORM framework, regulatory context, risk appetite, risk assessment, incident data collection, key risk indicators, risk culture, scenario analysis, capital assessment, and reputation risk.

Who should attend?

The certification course is intended for stakeholders from a variety of audiences, including:

  • Chief risk officers
  • Heads of operational risk
  • Risk directors, risk managers, risk officers and risk analysts
  • Business line managers in charge of managing their risks
  • Senior managers and managers who seek guidance on operational risk management
  • Compliance officers
  • Internal auditors
  • Regulators
  • Consultants
  • Students and professionals interested in advancing their careers in operational risk management

Agenda

Day 1

  1. Regulatory context
  2. The role of governance
  3. Three Lines Model
  4. The role of risk committees

  1. ORM framework
  2. The role of policies and procedures
  3. Operational risk policy and minimum standards

  1. Industry guidance on risk appetite
  2. Structure of actionable risk appetite
  3. Communicating risk appetite

Day 2

  1. Incident data collection standards
  2. Categorizing risk events
  3. Roles and responsibilities in incident data collection
  4. Analyzing and reporting on incident data
  5. Learning from external loss data

  1. RCSA: definition, scope and process
  2. Heatmaps and risk scales
  3. Controls and risk mitigation types
  4. Running an RCSA process and reporting on it

Day 3

  1. Defining and monitoring conduct in financial organizations
  2. Defining risk culture
  3. Risk culture drivers and change management
  4. The Use Test

  1. Definitions and roles of KRIs
  2. KRI selection framework
  3. Reporting on KRIs

Why choose this course?

Educational approach

  • The training course is based on theory and best practices in operational risk management and assessment in the financial services.
  • Lecture sessions are illustrated with practical examples.
  • The participants are encouraged to communicate and engage in discussions and exercises.
  • The exercises are similar in structure with the certification exam questions.

Body of Knowledge

The body of knowledge has been developed by a team chosen for their expertise and their contribution in the field of operational risk.
This document covers the core information that underpins the ORM Certification. Its purpose is to define the theoretical and professional knowledge that candidates must demonstrate to receive the ORM Certification. The content is organized in such a way that candidates can select the coverage and examination required to obtain the certification at ORM Foundation, Operational Risk Manager and Operational Risk Lead Manager levels.

Price and Terms

The Certification course costs 2240 euros (excluding VAT, when applicable).

The price covers:

  • Training course materials containing over 300 pages of information and practical examples
  • An attendance record of 18 CPD (Continuing Professional Development) credits
  • 2 vouchers to take the relevant PECB exam