Risk Metrics & Key Risk Indicators

The course covers all aspects of setting up, running and developing KRI processes that can be used both as an essential component of the overall risk management framework as well as a powerful tool to assist management in the day-to-day control of the business.

Course Launch:
On-Demand

Course Access: 90 days from date of purchase

Time:
5 Hours

About This Course

Course Description

In this course, you'll learn:

1. Objectives of risk metrics

The benefits and value of risk metrics

Case study on the power of metrics

2. What are risk metrics

Examples of risk indicator systems

Formal and informal risk metric systems

3. What are risks and controls

Breaking down the components of risk – causes, risks, impacts and controls

Introduction to risk bow ties

Using risk bow ties as the basis for risk metrics

4. Types of risk metrics

Key risk indicators, key performance indicators and key control indicators

Mapping risk metrics to bow ties

Single number and composite risk metrics

Leading and lagging metrics

Detective controls and risk metrics

5. Identifying relevant and strong metrics

Link to key risks and risk appetite

Strength of relationship to what is being tracked

Mapping risk metrics to risk bow ties

Quality of indicators Using averages, deviations and concentrations

6. Setting up risk metrics

Setting risk metric thresholds

Cascading risk metrics

Developing a risk metric library

Linking risk metrics to risks and controls

Determining collection and reporting frequency

Assigning responsibility

Revising tolerances

7. A risk metrics process

Collecting risk metrics

Evaluating and scoring risk metrics

Investigating and explaining risk metrics

Escalation, follow up and workflow

8. Reporting risk metrics

Objectives of reporting

Types of reports

Aggregated dashboards and drill down reports

Using risk metrics in an overall risk profile

Integrated and dynamic reporting

9. How to use risk metrics

As a risk monitoring tool

As feedback and incentive tool

As a management tool

As a benchmarking tool

Forecasting

Risk metrics for culture

10. Roles and responsibilities for risk metrics

An introduction to the three lines model

Metrics roles

Course Expectations:

Watch 12 videos

3 downloadable materials

Answer 10 quiz questions

Timings:

4 hours of video content

Approximately 5 hours for the whole course

About Our Experts

David Tattam is the Chief Research & Content Officer and co-founder of the Protecht Group. David's vision is to redefine the way the world thinks about risk and to develop risk management to its rightful place as being a key driver of value creation in each of Protecht's customers.

Michael Howell is Protecht's Research and Content Lead. He is passionate about the field of risk management and related disciplines, with a focus on helping organisations succeed using a ‘decisions eyes wide open’ approach.

Continued Risk Learning Credits: 5

PRMIA Continued Risk Learning (CRL) programs provide you with the opportunity to formally recognize your professional development, documenting your evolution as a risk professional. Employers can see that you are not static, making you a highly valued, dynamic, and desirable employee. The CRL program is open to all Contributing, Sustaining, and Risk Leader members, providing a convenient and easily accessible way to submit, manage, track and document your activities online through the PRMIA CRL Center. To request CRL credits, please email [email protected].

Registration

Membership Type Price

Members $479

Non-members $599

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About This Course

Course Description In this course, you'll learn: 1. Objectives of risk metrics The benefits and value of risk metrics Case study on the power of metrics 2. What are risk metrics Examples of risk indicator systems Formal and informal risk metric systems 3. What are risks and controls Breaking down the components of risk – causes, risks, impacts and controls Introduction to risk bow ties Using risk bow ties as the basis for risk metrics 4. Types of risk metrics Key risk indicators, key performance indicators and key control indicators Mapping risk metrics to bow ties Single number and composite risk metrics Leading and lagging metrics Detective controls and risk metrics 5. Identifying relevant and strong metrics Link to key risks and risk appetite Strength of relationship to what is being tracked Mapping risk metrics to risk bow ties Quality of indicators Using averages, deviations and concentrations 6. Setting up risk metrics Setting risk metric thresholds Cascading risk metrics Developing a risk metric library Linking risk metrics to risks and controls Determining collection and reporting frequency Assigning responsibility Revising tolerances 7. A risk metrics process Collecting risk metrics Evaluating and scoring risk metrics Investigating and explaining risk metrics Escalation, follow up and workflow 8. Reporting risk metrics Objectives of reporting Types of reports Aggregated dashboards and drill down reports Using risk metrics in an overall risk profile Integrated and dynamic reporting 9. How to use risk metrics As a risk monitoring tool As feedback and incentive tool As a management tool As a benchmarking tool Forecasting Risk metrics for culture 10. Roles and responsibilities for risk metrics An introduction to the three lines model Metrics roles Course Expectations: Watch 12 videos 3 downloadable materials Answer 10 quiz questions Timings: 4 hours of video content Approximately 5 hours for the whole course

About Our Experts



David Tattam is the Chief Research & Content Officer and co-founder of the Protecht Group. David's vision is to redefine the way the world thinks about risk and to develop risk management to its rightful place as being a key driver of value creation in each of Protecht's customers. Michael Howell is Protecht's Research and Content Lead. He is passionate about the field of risk management and related disciplines, with a focus on helping organisations succeed using a ‘decisions eyes wide open’ approach.