INTRODUCTION FOR NAVIGATING UNCERTAINTY: COMPREHENSIVE RISK MANAGEMENT FOR FINANCIAL INSTITUTIONS
This 2-day workshop on Risk Management is specifically designed for financial institutions and offers a transformative experience in navigating the intricacies of risk assessment and mitigation in today’s volatile environment. By delving deep into past financial crises, including real-life bank failures and fraud cases, participants will gain crucial contextual insights that are essential for anticipating future challenges. Through engaging discussions, expert-led sessions, and hands-on activities, attendees will acquire a robust understanding of risk management frameworks and regulatory requirements, equipping them with the essential tools for effective decision-making.
What sets this workshop apart is its unique integration of dynamic case studies illustrated through thoughtfully selected movie clips, along with real-life examples of bank failures and financial fraud. These elements not only bring historical events to life but also stimulate critical thinking and group discussions, making complex concepts more relatable. By examining real-world scenarios through an engaging medium, participants will leave with actionable strategies and a nuanced perspective on managing risks, better preparing them to navigate the complex financial landscape while safeguarding their institutions against potential threats.
LEARNING OBJECTIVE
The objectives of the training program are to:
- Understand the fundamentals of risk management and its relevance in business.
- Identify and assess various types of risks to which organizations are exposed.
- Develop strategies and techniques for effective risk mitigation and control.
- Emphasize the importance of continuous monitoring of risks and utilization of key risk indicators.
- Enhance communication and reporting skills to convey risk information within the organization effectively.
WHO SHOULD ATTEND
This course is designed for risk managers and risk practitioners (of financial institutions).
LEARNING OUTCOME
Upon completion of the course, participants will achieve the following learning outcomes.
- Enhanced Understanding of Risk Management i.e. deep understanding of risk management principles, methodologies, and tools.
- Improved Risk Management Skills i.e. practical skills in identifying, analyzing, and managing risks effectively.
The participant will be able to:
- Create risk mitigation plans and implement control measures to minimize the impact of identified risks.
- Explain the importance of ongoing risk monitoring and use key risk indicators for proactive risk management.
- Articulate risk information clearly and use appropriate reporting mechanisms to communicate risks effectively to relevant stakeholders.
- Apply the knowledge and techniques to implement risk management processes within their organizations, leading to more informed decision-making, better risk oversight, and enhanced business resilience.
COURSE CONTENT
- Setting the Context – Current Risk Landscape (Domestic & Global)
- History of Financial Crises & Their Impacts
- Introduction to Risk Management
- Definition and importance of risk management
- Key concepts and terminology
- Benefits of effective risk management
- Types of risks financial institutions are exposed to – financial risks, operational risks, strategic risks, compliance risks, reputational risks, cybersecurity risk etc.
- Risk Management Process:
- Risk Identification
- Risk Assessment
- Risk Mitigation
- Risk Monitoring & Control
- Risk Communication & Reporting
- Risk Review & Improvement
- Visual Case Study (e.g. collapse of Lehman Brothers, 2008 US Subprime Crisis) and Practical Exercises (clips from Margin Call vis-à-vis governance, culture and ethics).
- Real-life case studies highlighting effective and ineffective risk management practices
- Group exercises to apply risk management concepts in practical scenarios
- Risk Culture & Governance
- Emerging Risks & Trends
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