CISI Managing Operational Risk in Financial Institutions

CISI Managing Operational Risk in Financial Institutions

OVERVIEW

Managing operational risk successfully has become an imperative component for financial institutions. The programme will provide participants the knowledge and practical techniques to be able to investigate an operational risk incident, manage operational risk in the long term, model appropriate behaviours to support operational risk management in the workplace as well as effectively recommend and contribute to measures to enhance the operational risk culture and operational risk management in the workplace.

Also, the programme will supply the essential knowledge for those who are interested to pursue the CISI Managing Operational Risk in Financial Institutions - a Level 4 certification which is widely recognized and respected as a leading qualification, meeting the highest quality standards in the European market.

The certificate is recognized by the FCA (UK’s Financial Services Authority) and by the FSSC (UK’s Financial Services Skills Council) as an appropriate examination for those who are managing and/or advising on investments.

Chartered Institute for Securities and Investment (CISI)

The Chartered Institute for Securities & Investment (CISI) is the largest and most widely respected professional body for those who work in the securities and investment industry, having more than 40,000 members in 110 countries.

Acquiring a CISI qualification will supply you with a wide range of benefits, including access to five membership types. CISI membership is a compelling marker of professionalism in the financial services industry. Whatever stage of your career you are at, the CISI qualifications highlights to colleagues, clients and the wider industry a commitment to professionalism and the highest standards of knowledge, skills and behaviour.

Learn more about the CISI at www.cisi.org

CIIM is proud to be a CISI Accredited Training Partner (ATP) and the official CISI Examination Centre in Cyprus.

Date/Time: 25 May & 06, 29, 30 June 2017, 08:30 - 17:00

Training Duration: 28 training hours over 4 days

Location: CIIM Nicosia ( View Map )


WHAT YOU CAN EXPECT

This training programme will supply you with the essential knowledge to be able to demonstrate the ability to apply practical techniques to investigate operational risk incidents, manage operational risk in the long term, mode appropriate behaviours to support operational risk management in the workplace as well as to effectively recommend and contribute to measures to enhance the opeational risk culture and operational risk management in the workplace.

Should you wish to obtain the CISI certification, you may pursue an optional examination. Successfully completion of the examination will provide you a free CISI Student membership and the ACSI designatory letters.

Syllabus Summary

ELEMENT 1: Fundamentals of Business Models and Associated Business Risks in Financial Institutions

  • General business models of key financial institutions

ELEMENT 2: Fundamentals of Financial Risk in Financial Institutions

  • Balance sheet analysis
  • Risks of off-balance sheet activity
  • Characteristics of specified risks applied to the balance sheet

ELEMENT 3: Operational Risk in Financial Institutions

  • Understanding operational risk
  • Roles and responsibilities within financial institutions
  • Interrelationship between operational risk and financial risks
  • Regulatory compliance
  • Effect of mergers and acquisitions and/or corporate restructuring on business operations
  • Effect of technology
  • Consumer demand
  • Risk of counterparty failure and the importance of recovery and resolution
  • Business benefits for the management of operational risk
  • Operational risk consequences

ELEMENT 4: Organisational Considerations in Operational Risk Management

  • Importance of governance infrastructure
  • Effect of organisational culture on operational risk management
  • Role of organisational structures in operational risk management
  • Role of key personnel in operational risk management
  • Importance of a corporate governance framework to operational risk management
  • Roles and responsibilities of the support and control functions
  • Importance of communication in fostering an operational risk aware culture

ELEMENT 5: Management of Operational Risk in Financial Institutions

  • Key aims of operational risk management
  • Policy principles, application and limitations
  • Importance of business objectives to risk appetite
  • Interdependencies in the risk management process
  • Operational risk impact
  • Relationship between cause, consequence and impact
  • Operational risk planning

ELEMENT 6: The application of the Risk Management Process

  • Influence of governance, policy, process and framework on risk culture
  • Techniques to embed a risk framework in an organisation
  • Practical constraints of operational risk framework implementation
  • Consequences of ineffective implementation of the operational risk framework on operational risk culture
  • Techniques employed in identifying operational risk
  • Techniques to assess and measure operational risk
  • Treatment approaches for operational risk
  • Techniques to monitor and report on operational risk

ELEMENT 7: Operational Risk Incidents: An Investigation

  • Importance of risk escalation and reporting to incident management
  • Importance of risk indicators to incident investigation
  • Steps in root cause analysis
  • Internal control failures
  • Importance of implementation of remedial action plans
  • Frequency and impact as essential to swift recovery
  • The role of action plans
  • The role of communication in cross-pollinating remedial controls
  • The importance of internal and external loss data
  • Regulatory breaches

ELEMENT 8: Operational Risk Incidents: An Investigation

  • Importance of regulating financial institutions
  • Principles of lead regulators
  • Importance of recovery and resolution plans to treat risk of counterparty failure
  • Risk modelling and regulatory compliance
  • Drivers and impact of development of operational risk standards
  • Application of legislation and regulation relevant to the operational risk environment
  • Regulatory compliance in the creation of an operational risk culture

ELEMENT 9: Supporting Operational Risk Management in the Workplace

  • Importance of training and education in operational risk management
  • Importance of workforce planning
  • Methods of personal communication within a financial services institution
  • Importance of commitment from all employees to the operational risk management framework
  • Importance of whistleblowing within the financial services environment
  • Role of business line risk in the escalation, detection and prevention of operational risk

View Full Syllabus

Exam Information

The examination consists of 70 multiple-choice questions, and will be conducted on-line at CIIM Nicosia. The examinations take place on Tuesdays and on a weekly basis.

Examination Fees

  • Qualification Registration: £25 (for first time registrations to CISI)
  • Certificate Examination: £266 + VAT

The fees are paid direcly to the CISI when registering for the examination. Full details will be given to delegates during the programme.

Benefits for Participants

  • Candidates gain a certificate approved by the UK Regulator, Financial Services Authority (FCA), recognized by the No.1 European financial market
  • It is one of the most complete certificate in managing operation risk offered in Cyprus
  • Success qualifies candidates to join CISI as Associate members who enjoy unparalleled networking and social events within CISI
  • It combines practical and analytical skills with an international perspective
  • Candidates expand their skills in all related industry sectors
  • Candidates gain recognition and acceptance as career professionals within the European market

What’s the value of the Certificate to employers?

Being able readily to demonstrate the competency and professionalism of key staff is an important commercial advantage for financial services firms. Success at this qualification’s broad syllabus is evidence that decision makers, in particular, understand a wide range of requirements for managing operational risk.

When assessing staff competence, the Financial Services Authority (FCA) will also take account of success at qualifications such as the CISI Managing Operational Risk in Financial Services.

Benefits for Organisations

  • Expand company’s know-how and demonstrates commitment in investing on human capital
  • Certified executives provide a competitive edge against competition and show to clients the importance the organization places on operational risk management
  • Recognized from all major financial institutions worldwide
  • Facilitates international business
  • Enhances organization’s potential for new business development

WHO SHOULD ATTEND

The programme is ideal for controllers, managers and advisors who are responsible for managing operational risk as well as finance officers, senior managers and managers of all disciplines and existing and aspiring non-executive directors.


FACULTY

All CIIM Executive Education programmes are developed and taught by CIIM resident and visiting faculty who are widely recognised as skilled professional trainers with local and international business experience. Through many years of business consulting and teaching experience, CIIM faculty develop innovative long-lasting practical concepts that shape the practice of your daily professional responsibilities. The result is a practical educational experience which is designed to have an immediate effect into your business environment.

Petros-Florides

Trainer: Petros Florides ( Read Full Bio )

Trainer Bio

Petros is a Chartered FCSI and the President of the Chartered Institute for Securities and Investment (CISI) in Cyprus.

Petros has worked as a finance professional within the securities and investments industry for over 20 years in the areas of private banking, fund management, stockbroking, private equity and principal trading.

For the past 10 years Petros has been on the board of a number of micro-finance institutions in Eastern Europe and is currently employed as a Regional Governance Advisor for World Vision International – one of the world’s largest organisations in the field of humanitarian aid and assistance.

Petros is an honours graduate in Accountancy, a Chartered Management Accountant, a diploma-holding member of the Institute of Directors and a Certificate of the Institute of Risk Management. He sits on the Ethics & Risk and Human Resource & Training Committees of the Cyprus Investment Funds Association.

Expertise: Risk Management, Securities, Investments, Private Banking, Fund Management, Stockbroking, Private Equity, Principal Trading

Training Experience: Over 20 years of local and international experience. In Cyprus, he has recentry trained professionals from organisation including CNP Asfalistiki, Alfa Capital Holdings Ltd, K. Treppides & Co Ltd, Confisio Managed Solutions Ltd, Trading Point Holdings Ltd, Mutual Trust (Cyprus) Ltd, GPB Financial Services Ltd, Lionsman Capital Markets, Windsor Brokers Ltd and Piraeus Bank.


APPLICATION

Programme Fee: €850

HRDA Subsidy: €476*

Programme Fee after HRDA subsidy: €374*

*This programme has been approved by the HRDA. Organisations participating with their employees, who satisfy the HRDA's criteria, are entitled to the subsidy.

Due to CIIM's non-profit status, no VAT is charged. Fees include tuition, educational material, coffee breaks, refreshments and lunch.

Special Discounts:

  • 10% discount for 3 registered employees attending from the same organisation
  • 15% discount for 4 registered employees attending from the same organisation
  • For larger group bookings from the same organisation please contact us
  • CIIM Students and Alumni who will attend the programme without participating through their organisations will benefit from a 25% discount on the fee before subsidy and can remit their payment in instalments. CIIM Students and Alumni attending as employees of a company and will apply to the subsidy, will benefit from a 15% discount on the net fee of the programme. Please contact us for further information.
  • Unemployed individuals will benefit from a 15% discount on the fee before subsidy and can remit their payment in instalments. Please contact us for further information.

To proceed with your registration, please click the button below to apply online. Reservation of seat is subject to availability.

Apply here

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