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About this Series
Presented by: Mario Mosse
Delivery: Virtual Training
Date: Mondays, October 1 - November 26, 2018
No session week of November 19
Session Length: 90 minutes
The PRMIA ORM Certificate Training is designed to prepare students to successfully take the ORM exam. The ORM Certificate is a deep, practical understanding of operational risk management frameworks and measurement methodologies in financial institutions. Become better prepared to implement meaningful risk assessment initiatives, produce useful risk management information and understand basic modeling techniques for operational risk measurement.
Your purchase of this virtual training includes access to eight pre-recorded sessions presented by Mario Mosse, copies of presentations, section assessments, and two practice exams. Standards and case studies are available on the PRMIA website. The ORM handbook and exam authorization require a separate purchase.
Who should attend
Directors of Operational Risk, Enterprise Risk Managers, Operational Risk Managers, Operations Managers, Internal Auditors, HR officers, Compliance Officers, Consultants, Regulators; Staff with 3-10+ years experience in the risk management profession.
How It Works
Each week, the pre-recorded session and materials will be launched. You will have an opportunity to interact with your classmates as well as submit questions to our expert. Questions must be submitted during the course period (Monday - Sunday). You may access the recorded series and handouts for a one-year period.
Course Schedule
Week 1, October 1: Risk Governance
- Overview of the Operational Risk Manager (ORM) Certificate program
- Introduction to the current regulatory environment
- The role of risk management
- The origins and principles of risk governance
- Roles and responsibilities, risk reporting, and major elements of the risk framework
Week 2, October 8: Risk Management Framework
- Components of a risk management framework
- Risk capacity
- Stress testing and simulation
- Risk appetite; Risk Policies, Risk Pricing; Risk Culture
Week 3, October 15: Risk Assessment, Part I
- Overview of Risk Assessment
- Risk assessment lifecycle
- Risk assessment approaches
- Risk scenarios or ‘top down’ assessments
- Process models or bottom-up assessments
- How to apply a heat-map to link scenarios and processes
Week 4, October 22: Risk Assessment, Part II
This session complements Session 5 and covers:
- Control assessments
- Identifying and tracking operational risk issues
- Residual risk
- Risk assessment of new and expanded products and third-party services
Week 5, October 29: Risk Information, Part I
- Operational risk events and the capturing and analysis of data on expected and unexpected loss events
- Operational risk events and managing the investigation: Loss data collection; Loss quantification; Boundary issues; Use of external loss data
Week 6, November 5: Risk Information, Part II
- The place and advantage of Key Risk Indicators (KRI) in risk management
- KRI approaches and what makes an effective KRI
- Define leading, lagging, and current indicators
- Understand the interdependence of KRIs
- How to integrate KRI selection and use across the organization
- Describe the steps to a KRI framework
- Data sources, workflows/processes, and reporting as part of operational risk management
Week 7, November 12: Risk Modeling and Insurance Mitigation
- Quantitative elements of operational risk
- Compare different approaches and how to allocate capital for operational risk
- Use of insurance to mitigate risk and obtain capital relief
- Describe the mapping of risk types to insurance coverage
- Qualification criteria for insurance mitigation
- Calculation of capital relief
No class week of November 19
Week 8, November 26: Case Studies and Exam Preparation
This final session covers several case studies to illustrate the consequences of major failures in risk management and internal control. We will also recap the material covered in the entire webinar series, answer questions not previously addressed, and go over the preparation process for taking the exam.
Registration Fee
Sustaining Members $599 | Contributing Members $649 | Non-members $699
About Our Expert
Mario Mosse is the President of MMosse Consulting, LLC, a company that provides risk management advice and training to the financial services industry. Mr. Mosse has significant experience in the areas of enterprise risk management, regulatory compliance, internal audit and project management at major financial services companies. He also has extensive knowledge of U.S. and international financial services and products (retail and corporate banking, securities brokerage, investment banking, asset management and life insurance), as well as risk management and internal control frameworks such as Basel III, Solvency II, and COSO. Previously, Mr. Mosse was with Prudential Financial, Inc. for 18 years where he was in charge of the company’s operational risk management program. Prior to that, he was the Chief Internal Control Officer for Prudential Securities and Vice President, Management internal Control of Prudential Investments. Prior to joining Prudential, Mr. Mosse spent 19 years with The Chase Manhattan Bank, N.A. where he was in charge of risk management and compliance for the Corporate Finance Sector, South America Regional Audit Executive, and Vice President, General Auditing.
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