Operational risk is real. Managing risk reduces operational losses. Every member of an organization has a role or responsibility with respect to risk. Improperly managed operational risks result in losses when an organization has failed or inadequate internal processes, people, and systems or from external events. The implementation of a risk framework and process will allow an organization to undertake the assessment of operational risks while providing the structure to identify, assess, treat and monitor risks. The course introduces the concept of operational risk management and demonstrates how to apply the ISO 31000-2018-Guideline. You will learn how to define the key steps involved in risk assessment, treatment, monitoring, reporting and communication.
By completion of this course, successful students will be able to:
- Examine the impact of operational risk on an organization
- Utilize a globally recognized risk management framework
- Apply the key steps in the risk management process