Operational Risk in the Modern World

This operational risk training explores the personal experience, understanding and communication of operational risk

• Personal risk experiences (work and life) and risk acceptance

• Case studies:
• Risk from personal experience
• The ‘most risk-aware individual’

• The definition of operational risk 
• How to understand and measure risk and the difference that 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 and 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
• 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
• 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

• 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

Operational risk training includes a scenario-based team role-playing exercise with the UK financial sector (Join a team, make some choices, and then make your moves)

• Simulation exercise: 
• 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, 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.'

Since 2006 our operational risk management course trainer has been a partner in London-Risk providing both training and consultancy on operational risk. He has run operational risk training courses and consultancy for banking staff from every European country including Russia, China and many African countries. He has also consulted for most major UK financial institutions and the World Bank. For many years he was an Executive and Director of the Institute of Operational Risk providing many innovations including their own internal risk management and systems. Non-financial and fraud risk for banks is constantly changing and operational risk courses must adapt to stay ahead.

While working as the senior risk manager for Citibank and subsequently Lloyds Bank he wrote and negotiated the Principles of Reciprocity, the rules for UK risk data-sharing, which now has over 500 participating companies and 1 billion records. Likewise, he founded the Insurance Fraud Bureau. They are models worldwide; their economic value is 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.

He has supported the Jesus College Cambridge Economic Crime Symposium for many years and this year 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.

In a rapidly changing risk environment, this operations risk course will help you understand and explore key issues and challenges faced in the field. It will introduce the latest thinking around the concepts of personalisation of risk, risk appetite, legal and reputational risk, and how to understand and deal with extreme risks.

Our operational risk training course has plenty of opportunities for participation and leads up to a ground-breaking team role-playing exercise in accelerated time.

Operational risk training courses are designed to make you fully aware of the many changes going on in the world today. This course applies creative methods including personalisation at the start, and a scenario team role-playing exercise as the climax, to explore the potential risk outcomes facing individuals and their financial organisations.

This operational risk course sets the scene for risk professionals from finance companies who need to keep up with the massive changes to the risk environment, in an increasingly unstable world. In particular Risk and Operational Risk practitioners will benefit from this training; as well as Fraud, Audit, Business Continuity and Compliance managers who need to have a good up-to-date understanding of these developments.

This operational risk course sets the scene for risk professionals from finance companies who need to keep up with the massive changes to the risk environment, in an increasingly unstable world. In particular Risk and Operational Risk practitioners will benefit from this training; as well as Fraud, Audit, Business Continuity and Compliance managers who need to have a good up-to-date understanding of these developments.