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Principles for the Management of Operational Risk

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This webinar highlights the evolution of operational risk management. The principles outlined in the Bank for International Settlements (BIS) report are based on best industry practice, supervisory experience and cover three overarching themes: governance, risk management and disclosure. We will look at the practicality of these principles and the implementation factors with each of them.

Instructor: Stanley Epstein 
Product ID: 702286

Why Should You Attend:

Although financial institutions have been managing risk exposures for years operational risk management as a discipline is relatively new. The change in focus to operational risk management has been driven by a number of factors, led in the first instance by the compliance requirements of bank regulators. Regulators look to the Bank for International Settlements (BIS) to formulate position and regulatory consensus in the world.

“Principles for the Sound Management of Operational Risk” highlights the evolution of operational risk management. The principles outlined in this key BIS report are based on best industry practice and supervisory experience, and cover three overarching themes: governance, risk management and disclosure. In this webinar, we will discuss the practicality of these principles and the implementation factors with each of them. We will examine a powerful banking case study and put these Principles to the test.

Areas Covered in the Seminar:

Who Will Benefit:

Instructor Profile:

Stanley Epstein, holds a Masters degree in Economics and a BCom. degree in Accounting from the University of South Africa. He has over 40 years of banking and IT experience, 33 of which were with the Standard Bank of South Africa where during the 1990s he filled an industry level role holding several key positions including that of Chairman of the PASA Risk Committee.

He has had extensive exposure to banking practice and banking operations in a number of countries including the USA, United Kingdom, South Africa, Israel, Europe and Australia. He has also acted as advisor to a number of central banks on payment systems, oversight, policy and payments risk issues.

More recently he spent time in the high-tech sector as a payment systems designer and consultant to a global payments software developer.

Topic Background:

In “Sound Practices for the Management and Supervision of Operational Risk”, published in February 2003, the Basel Committee on Banking Supervision published a framework of principles for the industry and supervisors.

Since then, banks and supervisors have expanded their knowledge and experience in implementing operational risk management. Loss data collection, quantitative impact studies, and range of reviews covering governance, data and modeling have contributed to industry and regulatory knowledge.

As a result of these changes, the BIS determined that the 2003 Sound Practices paper needed updating to reflect the operational risk management practices now in use. “Principles for the Sound Management of Operational Risk and the Role of Supervision” assimilates the evolution of sound practice, detailing eleven principles of sound operational risk management covering (1) governance, (2) risk management environment and (3) the role of disclosure. By publishing an updated paper, the BIS enhances the original sound practices framework with specific principles for the management of operational risk that are consistent with sound industry practice. This new document replaced the 2003 “Sound Practices” and became the document referenced in the Basel accords.

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ComplianceOnline would process/provide refund if the Live Webinar has been cancelled. The attendee could choose between the recorded version of the webinar or refund for any cancelled webinar. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange.

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