Classroom | Luxembourg
|
|
|
|
In comparison with other types of risk, operational risk management is a relatively new discipline. Before the year 2000, there was no consensus on how to define operational risk. The publication of the second Basel Accord in 2004 was a turning point that for the first time provided a precise and generally accepted definition of operational risk: “The risk of loss from inadequate or failed internal processes, people and systems or from external events. This definition includes legal risk, but excludes strategic and reputational risk.”
In capital markets, operational risk is often mentioned, but it is rarely analysed systematically. The objective of this course is to provide participants with a thorough understanding of operational risk in capital markets operations by means of practical tools and a systematic methodology.
The course is practical and based on well-known transactions in capital markets. The hands-on approach of the course includes various case studies that are based on realistic situations in the back-office operations of capital markets firms.
Learning Outcomes
By completing this course, you will be able to:
- Understand operational risk and its causes.
- Describe the key characteristics and the impact of operational risk on capital markets operations.
- Define and apply effective methods for managing operational risk in capital markets operations.
- Create and operate an incident database to manage historical data related to operational risk.
- Manage operational risks by using quantitative and qualitative techniques that are accessible through capital markets operations.
- Define and apply market standards for managing operational risk.
Who should study the programme?
The course is targeted at people working in capital markets operations, particularly in the back office.
Participants taking this course should have at least a basic understanding of risk in financial services, but no prior study or work experience with risk management is required.
The course is of interest to anyone involved in managing risk, especially operational risk.
A good working knowledge of the English language is mandatory.
Course Trainer
TBC
The content of the course syllabus can be divided into the following chapters:
1. Types of Risk in Financial Services
2. Operational Risk
3. Basel and Operational Risk
4. Causes of Operational Risk
4.1 Internal Processes
4.2 People
4.3 Systems (IT)
4.4 External Events
5. Capital Markets Operations
5.1 Post-Trade Matching
5.2 Clearing
5.3 Settlement
5.4 Custody
6. Measuring and Managing Operational Risk in Capital Markets
6.1 Operational Risk Cycle
6.2 Top-Down vs. Bottom-Up Assessment
6.3 The Three Lines of Defence Model
6.4 Risk and Control Self-Assessment (RCSA)
6.5 Incident Database
6.6 Key Risk Indicators (KRI)
7. Case Studies
7.1 Internal Processes
7.2 Human Error
7.3 Fraud
7.4 Outsourcing
7.5 Pandemics
8. Business Continuity Planning
9. Trends in Operational Risk
Livestreamed Course
ICMA courses are delivered via video conferencing accessed on our digital learning platform, using the most effective pedagogical approaches and incorporating interactive functions like virtual breakout rooms.
The Corporate Actions: An Introduction live sessions are delivered in four 3.5 hour sessions over the course of two weeks. You will be given access to the course materials before the live sessions, and will have access to those for a total of three months from the first live session. During these three months you will have the option to keep working through the course materials at your own pace.
Livestreamed course fees
ICMA Members: EUR 2,100 (VAT not applicable)
ICMA Non-members: EUR 2,700 (VAT not applicable)
*Special bundle discount for this course when booked in combination with Corporate Actions: Operational Challenges:
ICMA members bundle discount: EUR 2,750 per person for both courses (discounted from EUR 4,200)
ICMA non-members bundle discount: EUR 3,300 per person for both courses (discounted from EUR 5,400)
For security reasons, delegates who have not registered in advance will not be admitted to the live sessions.
Please note:
- All payments must be made in Euro.
Contact
Should you have any queries, please contact education@icmagroup.org.
