Managing Operational Risk in Financial Institutions by the CISI

Registration Deadline: 04 June 2018

Training Dates: 11, 12 & 13 June 2018

Training Hours: 08:30 - 17:00

Location: CIIM Nicosia ( View Map )

Language of Instruction: English


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 in pursuing 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.

Key Outcomes

  • Enhance your abilities 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 your workplace
  • Be in position to recommend and contribute to measures to enhance the operational risk culture and operational risk management in your workplace.
  • OPTIONAL: Success to the CISI Managing Operational Risk in Financial Institutions examination provides a free CISI Student membership and leads to a CISI Associate membership as well as to the ACSI designatory letters.

Designed for

  • Practitioners in risk, compliance and investment risk control
  • Risk Controllers
  • Risk Managers
  • Risk Modellers
  • Professionals who would like to obtain the CISI Managing Operational Risk in Financial Institutions Certification

Topics to be covered

  • Fundamentals of Business Models and Associated Business Risks in Financial Institutions
    • General business models of key financial institutions
  • 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
  • Operational Risk in Financial Institutions
    • Understanding operational risk
    • Interrelationship between operational risk and financial risks
    • Regulatory compliance
    • Effect of corporate restructuring on business operations
    • Effect of technology
    • Consumer demand
    • Business benefits for the management of operational risk
    • Operational risk consequences
  • 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
  • Management of Operational Risk in Financial Institutions
    • Key aims of operational risk management
    • Policy principles, application and scope
    • 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
  • The application of the Risk Management Process
    • Influence of governance, policy, process, framework and risk culture
    • Techniques to embed a risk framework in an organisation
    • Practical constraints of operational risk framework implementation
    • 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
  • 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
    • Communicating the lessons learned through implementing remedial controls
    • The importance of internal and external loss data
    • Regulatory breaches
  • Regulation of Operational Risk
    • Importance of regulating financial institutions
    • Principles of lead UK and international regulators
    • The importance of recovery and resolution plans in reducing the impact on customers from institutional 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
  • 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 speaking out within the financial services environment
    • Role of the business in the escalation, detection and prevention of operational risk


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 in your business environment.

Petros Florides

Mr. Petros Florides 


Mr. Petros Florides

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

He 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, he 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.

Mr. Florides 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.

Programme Fee

Per Participant: €630

No VAT is charged due to CIIM’s non-profit status. Fees include tuition, educational materials, lunch, coffee-breaks and refreshments.


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

Apply here

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