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Financial Institutions

Enterprise Risk Management (ERM), essential for any financial institution, encompasses all relevant risks. An ERM framework supports a management competency to manage risks well, comprehensively, and with an understanding of the interrelationship/correlation among various risks. The successful institution incorporates a robust ERM capability as part of its culture by integrating what already exists to create a comprehensive and integrated view of the institution’s risk profile in the context of its business strategy.

Within this framework, Participants develop the competence to master a model for implementing risk management processes throughout their organization using the ISO 31000 standard as a reference guidline. Based on practical exercises, participants acquire the necessary knowledge and skills to perform an optimal risk assessment and manage risks in time by being familiar with their life cycle.

The framework was designed to help management and boards of directors answer these questions:

1. What are all the risks to our business strategy and operations (coverage)?
2. How much risk are we willing to take (risk appetite)?
3. How do we govern risk taking (culture, governance, and policies)?
4. How do we capture the information we need to manage these risks (risk data and infrastructure)?
5. How do we control the risks (control environment)?
6. How do we know the size of the various risks (measurement and evaluation)?
7. What are we doing about these risks (response)?
8. What possible scenarios could hurt us (stress testing)?
9. How are various risks interrelated (stress testing)?

The course provides a comprehensive overview and explanation of the major risk areas in financial services. It is suitable for anybody working in financial services, irrespective of level or discipline.

The course addresses both international and local issues within the sphere of managing risk in financial services and provides a sound grounding in the principles of the risk management and its role in effective corporate governance. It covers specific techniques used in identifying, reducing and managing: operational risk, credit risk, market risk, investment risk and liquidity risk.

Risk in Financial Services is suitable for risk and compliance teams, branch management, corporate lawyers, finance officers, senior managers of all disciplines and existing and aspiring non-executive directors.

For more details go to UPCOMING SEMINARS

Risk is the effect of uncertainty on the achievement of objectives, and Risk Management is for those who want to understand the uncertainty involved in achieving their objectives and who want to manage their risks so as to ensure a successful outcome.

If Risk is defined as the "probability or threat of a damage, injury, liability, loss, or other negative occurrences that may be neutralized through pre-mediated action", then Risk Management according to ISO 31000 is exactly that pre-meditated action that reduces risk to an acceptable minimum. It regulates the requirements of the risk management process and introduces the methodology of risk analysis.

Risk Management covers risks, both operational and strategic in nature, with a special focus on their interaction and development over time. It is a tool for companies and any business sector that would like to use their management system to identify and analyze risks at an early stage, in order to make them controllable. The implementation of Risk Management increases both the awareness of risk and of opportunity, and their pro-active approach helps to ensure positive business development in the future. Thus the management of risk is woven into the organizational fabric and culture across the organization.

Risk may be a driver of strategic decisions and the effective management of risk when embedded in the activities of the organization may mitigate the uncertainty.

An enterprise-wide approach to risk management enables an organisation to consider the potential impact of all types of risks on all processes, activities, stakeholders, products and services.

This approach will enable a risk management initiative to deliver outputs, including compliance with applicable governance requirements, assurance to stakeholders regarding the management of risk and improved decision- making. The impact or benefits associated with these outputs include more efficient operations, effective tactics and efficacious strategy. These benefits need to be measurable and sustainable.

For more details go to UPCOMING SEMINARS