Operational Risk in the Modern World

How these risks may be changing out of recognition and how to keep up

Skyscrapers reaching up to the sky dwarfing the people below

A two-day Operational Risk course

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Download: Course Outline

Personal Experience, Understanding and Communication of Operational Risk

Operational risk training looks at personal risk experiences (work and life) and risk acceptance
Case studies:
- The risk from personal experience
- The ‘most risk-aware individual’
The definition of operational risk:
- How to understand/measure risk and the difference it makes
- Why it matters
Risk appetite
Statistics and risk reporting:
- Risk Control Self-Assessments
- Key Risk Indicators
- Resilience
Case studies:
- Lessons from the 2008 Financial Crash – Anglo-Irish Bank

Social Changes: People Aren't Sure What to Say Anymore

Environment, Social & Governance
Changes in social awareness
Risks for organisations
The risk of top positions
The power gradient:
- Entertainment media
- Other organisations
Risks for banks
Legal and reputational risk
Operational Risk Training Case studies:
- ‘Me Too’, ‘Black Lives Matter’
- Coutts and Nigel Farage, BBC Director General Tony Hall
- Russell Brand (ongoing), BBC and Director General Tony Hall and Tim Davie

World Crisis I: Global Warming Means Change in Extreme Risk, But Which and How?

Extreme risk
The eye on the storm, global:
- Rise of disaster events
- Economic costs of disasters
- Greenhouse gases
- Disaster fatalities (Earthquakes and Heatwaves)
Case study: Earthquake in Turkey and Syria 2023
Sustainability:
- The challenge of sustainable finance
Lessons for banks

World Crisis II: The Weaponisation of Everything

Organised crime and state links behind cybercrime:

Fraud
Hacking
Ransomware

Operational Risk Training case study: Cybercrime for banks
Industrial espionage and state links
War and Nuclear, Biological, and Chemical futures
Case Study: The Millennium Hotel and the Salisbury Poisonings
What this means for banks
What this means for customers
Groupthink and hierarchy in risk reporting
Case study: The Bay of Pigs and the Cuban Missile Crisis

A Scenario-Based, Team Role-Playing

This operational risk course includes a simulation exercise with the UK financial sector (join a team, make some choices then make your moves):

What are the rules
Up to 5 teams

Make your moves:

Setting the scene
Scenario choices

How this crisis plays out:

Coping with crisis
Who manages

De-brief:

What worked well, and what needed improvement?

Case studies: Parallels and lessons

Operational Risk Course Wrap-Up:

Lessons learned and changes planned
Remaining questions and issues

'Creative, adaptable, thorough.'

A partner in London-Risk, delivering operational risk training and providing consultancy since 2006, our specialist has a strong, industry-led background. His work has spanned Europe in its entirety (including Russia), China and many African countries. In addition, he has consulted for most major UK financial institutions and the World Bank. As an Executive and Director of the Institute of Operational Risk, delegates are in highly competent hands.

While working as Senior Risk Manager for Citibank and subsequently Lloyds Bank, this trainer wrote and negotiated the Principles of Reciprocity, the rules for UK risk data-sharing. This now has over 500 participating companies and 1 billion records. Similarly, he founded the Insurance Fraud Bureau and both are models worldwide with their economic value promoted by the World Bank. With a partner he made unique contributions to refugee ID data collection and information, starting with Ukrainian refugees in Poland in 2022.

With a wealth of knowledge and a lengthy career, our operational risk workshop expert supports the Jesus College Cambridge Economic Crime Symposium and later this year he is running a think-tank on international risk data-sharing. He is a reviewer for the Royal United Services Institute Journal, The Journal of Financial Crime, and forthcoming for The Company Lawyer.

His training is founded on expert consultancy, research and publishing.

This operational risk training course is designed to equip participants with the tools and understanding needed to navigate an increasingly volatile risk environment. By attending, participants will:

Develop a deeper understanding of the personalisation of risk, risk appetite, and legal and reputational risks.
Explore extreme risks, including those arising from global crises and systemic challenges.
Learn how to apply advanced concepts in risk measurement and reporting.
Participate in interactive team-based simulations to solidify learning through practice.

Through a mix of case studies, group exercises, and real-world applications, delegates will leave with actionable strategies for managing modern operational risks.

Non-financial and fraud risk for banks is ever-changing meaning you need to ‘stay current’. Redcliffe’s operational risk training courses stand out due to its unique approach:

Expert-Led Insight: Training delivered by a practitioner with decades of experience in operational risk across global markets.
Relevance to Today’s Challenges: Explore how risks are evolving due to social changes, environmental crises, and geopolitical disruptions and learn how these developments affect financial institutions and their customers.
Hands-On Learning: A highly interactive session featuring case studies, role-playing exercises, and real-world scenarios.
Actionable Outcomes: Gain practical tools and frameworks to improve risk management within your organisation immediately.

With massive changes occurring in the risk environment, specialists need to be ahead of the curve in an increasingly unstable world.

This operational risk training at Redcliffe is ideal for:

Finance company risk professionals who are required to remain current
Risk and Operational Risk practitioners
Fraud, Audit and Business Continuity and Compliance managers

If your role involves managing, mitigating, or reporting operational risks, this course provides the knowledge and skills you need to succeed.

This two-day operational risk management course at Redcliffe Training covers the evolving risk landscape in an unstable world.

Delve into social changes, world crises, and their impact on operational risk. Examine high-profile incidents, including lessons from the 2008 Financial Crash and recent global events. Participate in a team-based simulation exercise, where you’ll face real-world risk scenarios in accelerated time. But most importantly; learn from a leading industry expert with unparalleled experience in operational risk management.

By the end of the course, delegates will leave with a robust understanding of operational risk management and actionable next steps to implement within their organisations.

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