Dates
Course Launch:
September 19, 2023
Instructor Access: Sep 19 - Nov 8, 2023
Course Access: 90 days from Sep 19 or date of purchase, whichever is later
Time:
Self-paced
Presented by:
Mayra Rodriguez Valladares,
Managing Principal, MRV Associates, LLC
Duration:
~8 hours
6 lessons, plus mock exam
| About This Course |
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The PRMIA ORM Certificate Prep course is designed to prepare participants to take the ORM Certificate exam. This course is for candidates who enrolled in the ORM Certificate Program prior to July 14, 2023. 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 course includes access to pre-recorded lessons presented by Mayra Rodriguez Valladares, Managing Principal, MRV Associates, LLC and Justin C McCarthy, CEO, PRMIA. Each lesson has an assessment, and there is one set of practice questions and one mock exam. You have the opportunity to ask questions and engage in online discussions with an expert during the course period. Standards and case studies are available on the PRMIA website.
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| Agenda |
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Lesson/Topic |
Lesson 1
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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
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Lesson 2
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Risk Management Framework
- Components of a risk management framework
- Risk capacity
- Stress testing and simulation
- Risk appetite; Risk Policies, Risk Pricing; Risk Culture
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Lesson 3
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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
Risk Assessment, Part II
- Control assessments
- Identifying and tracking operational risk issues
- Residual risk
- Risk assessment of new and expanded products and third-party services
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| Lesson 4 |
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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
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
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| Lesson 5 |
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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
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| Lesson 6 |
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Case Studies
- This final session covers several case studies to illustrate the consequences of major failures in risk management and internal control.
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90-day Course Access |
This course is appropriate for:
- ORM Certificate Program candidates who enrolled prior to July 14, 2023
| About Our Expert |
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Mayra Rodriguez Valladares, Managing Principal, MRV Associates, LLC
Mayra's extensive consulting projects have included banks, financial regulators, central banks, securities firms, and insurance companies. Ms. Rodríguez Valladares has written business plans and created financial models for a wide range of companies and has analyzed financial firms’ financial models and stress tests. She also conducts numerous courses on Basel III, Dodd-Frank, financial derivatives, data aggregation, leveraged lending, securitizations, and risk management both in the US and abroad.
Clients have included the CFTC, SEC, FFIEC, Federal Reserve Bank of New York, Morgan Stanley, Credit Suisse, RBC, BNP, SunTrust, Itau, and Union Bank of California. She has worked in the US, UK, Europe, Middle East, Asia, Central and South America, and Africa.
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| Continued Risk Learning Credits: 8 |
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 |
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| Sustaining, Corporate, and RIM Members |
$474 |
| Non-Member |
$699 |
Membership pays for itself! Sustaining membership is $225 annually. Purchase a Sustaining membership and receive the Member disounted rate!
Course access is for 90 days from September 19, 2023 or date of purchase, whichever is later. Please complete the course within the 90-day period. If additional time is required, re-purchase is necessary.
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