ComplianceOnline

Register

Toll Free: +1-888-717-2436

CART 0

Your Shopping Cart

Contains 0 items
Total: $0.00
View Shopping Cart
Cart Image



Risk Based Internal Auditing (RBIA): 2-day Comprehensive Training Workshop

By:
Stanley Epstein, Banking, Payments, Operational Risk & Back Office Specialist and Bank Trainer
Coming soon.. Please contact customer care for new schedule

"Risk Based Internal Auditing (RBIA)" - This course is approved by NASBA (National Association of State Boards of Accountancy). Seminar attendees are eligible for 20 CPE credits upon completion of training.

Course Description:

The Institute of Internal Auditors defines Risk Based Internal Auditing (RBIA) as a methodology that links internal auditing to an organization’s overall risk management framework. RBIA allows internal audit to provide assurance to the board that risk management processes are managing risks effectively, in relation to the risk appetite.

But every organization is different. There are different attitudes to risk, different management and organizational structures, different processes and procedures, and the need to subscribe to and comply with different conventions and regulations. Experienced internal auditors need to adapt these ideas to the structures, processes and language of their organization in order to implement RBIA.

Implemented correctly, RBIA offers tremendous advantages to the organization. RBIA allows internal audit to provide the Board of Directors with the assurance that it needs on three areas:

  • Risk management processes - their design and how well they are working
  • Management of those risks classified as 'key' - including the effectiveness of the controls and other responses to them
  • Complete, accurate and appropriate reporting and classification of risks

This intensive 2-day course is all about RBIA, what it is, how it differs from the conventional internal audit and most importantly of all how it may be planned and implemented within the organization.

Event Tags: Risk Based Internal Auditing, Expectations Gap, Risk Heat Map, Business Risks, COSO, ERM, RBIA, Operational Risk, SWOT, BPEST, FEMA, Risk Matrix, Risk Register, and more...





Learning Objectives:

By using the RBIA approach, the organization’s internal audit should be able to conclude that:

  • Management has identified, assessed and responded to risks within and beyond the organization’s risk appetite
  • That the responses to risks are effective but not excessive in managing inherent risks within this risk appetite
  • Where residual risks are not in line with the risk appetite, action is being taken to remedy this
  • Risk management processes, including the effectiveness of responses and the completion of actions, are being monitored by management to ensure they continue to operate effectively
  • Risks, responses and actions are being properly classified and reported.


Who will Benefit:

This practical hands-on training course is designed for professionals from industry, financial institutions and risk intensive organizations. The following job titles/ positions will benefit from attending:

  • Board members, especially risk and audit committee chairs and members
  • Chief Risk Officers
  • Heads of market, credit, and operational risk
  • Head of Risk Management
  • Chief Compliance Officers
  • Chief Audit Officers
  • Chief Financial Officers
  • Actuaries
  • Treasurers
  • Auditors (External & Internal)
  • Bank regulators and examiners
  • Risk management consultants



We are registered with and adhere to the Statement on Standards for Continuing Professional Education programs of the National Registry of CPE Sponsors. Our registration number is 109066. Please check with the governing body of your license and state for specific CPE requirements. Grievances may be forwarded to the company at Ph: 650 620 3961; email: cpe@complianceonline.com. Grievances may also be forwarded to the National Registry of CPE Sponsors-NASBA, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417, 615-880-4200, www.nasba.org, e-mail cpe@nasba.org.



Field of Study:
  • Auditing: 6 CPE Credits
  • Specialized Knowledge and Applications: 5 CPE Credits
  • Communications: 2.5 CPE Credits
  • Behavioral Ethics: 2.5 CPE Credits
  • Business Management and Organization: 2 CPE Credits
  • Management Advisory Services: 2 CPE Credits
  • Total CPE credits earned in this seminar: 20 CPE Credits

Program Delivery Method: Group-Live
Program Level: Intermediate
Advance Preparation/Program Prerequisites: Experience in Traditional Auditing





Course Outline:

Day One (8:30 AM – 4:30 PM) Day Two (8:30 AM – 4:30 PM)

  • Registration Process: 8:30 AM - 9:00 AM
  • Session Start: 9:00 AM
  • What is Risk Based Internal Auditing?
    • An introduction to Risk Based Internal Auditing
    • Traditional Approach versus Risk Based internal approach
    • Stages of Risk Based Internal Auditing
    • Measuring the effectiveness of Risk Based Internal Auditing
  • Risk Based Internal Auditing – Background
    • Rationale behind Risk Based Internal Auditing
    • Internal Audit – Definitions, Objectives & Scope
    • The “Expectations Gap”
    • The RISK BASED Internal Audit
    • Comparison to the traditional approach
  • Risk Management Understanding Risk
    • The meaning of risk
    • The attributes of risk – Likelihood & Consequence
    • The Risk Heat Map
    • Audit risk
    • Business risks – classification, internal & external, controllable & non-controllable
    • The COSO risk management framework
  • Understanding COSO
    • COSO — An Integrated Risk Management Framework
    • The COSO ERM Framework
    • COSO in Finer Detail
    • Updates to COSO
  • Basic concepts of risk management
    • Risk capacity, risk appetite, risk response
    • Inherent & residual risk
    • Entity risk assessment & Business process risk assessment
    • Significant risk
    • Risk register
  • ERM – Enterprise Wide Risk Management
    • ERM and the Board of Directors
    • What is covered under ERM
  • Risk Maturity
    • What is risk maturity
    • Why it is important
    • Risk maturity levels
    • Scorecard for assessing risk maturity
    • Analyzing the risk maturity results
  • Using a Risk Based Internal Audit (RBIA) Methodology
    • Audit is of management of risks and not of risk
    • Key reporting areas in the management of risks
    • Documenting Board assurance requirements and risk appetite
    • Audit strategy & risk maturity
    • Selecting individual risks to audit
    • Frequency of coverage
    • Including the Risks into an Audit Assignment
    • Importance of selecting the right auditable unit


  • Stages of RBIA
    • Assessing risk maturity
    • Preparing the audit plan
    • Conducting the assurance audit
    • Reporting to the appropriate level
  • Model Process for Assessing & Evaluating Risks
    • Risk assessment steps
    • Risk assessment tools
    • Risk identification
    • Business Activities that are Sources of Risk
    • Operational Risk and its categories
    • Risk identification methods
    • Industry risk models
    • Choosing which methods to use
    • Typical risk areas
    • Risk estimation (Risk measurement/ Risk scoring)
    • Risk evaluation
    • Risk Heat map & Actions Needed
    • Using risk scores
  • Risk Assessment Tools
    • Market survey
    • Dependency modeling
    • SWOT analyses
    • Event tree analysis
    • BPEST (Business, Political, Economical, Social & Technological)
    • Fault tree analysis (Root Cause Analysis)
    • FEMA (Failure Mode and Effect Analysis)
  • Internal Audit Process
  • In this section the instructor will cover the complete Internal Audit Process through with the RBIA methodology is carried out in a consistent manner. This covers the need for the Internal Auditor to become acquainted with the business and the industry allowing him to assess the risk maturity which determines his/her ability to provide the PBIA assurance and to review the risk assessment done by management and the her/his conclusion whether this risk register may be relied upon.

    The process covered includes;

    • Strategic analysis
    • Enterprise risk assessment
    • Internal Audit Plan development
    • What Risks to Audit – An Alternative Approach
    • Internal Audit execution
    • The Process Risk Matrix
    • Reporting
    • Issue Resolution tracking
  • Case Study - How the RBIA methodology is applied.
  • This is an illustrative case study showing how the RBIA methodology is applied in a real world environment.

  • Comparing the Two Methodologies
  • The speaker will compare RBIA methodology to the regular audit methodology. These methodologies will be examine in terms of;

    • Managing risk
    • Setting responsibility for risk management, and
    • Usefulness to the Board of Directors
  • Risk Registers
  • The speaker will examine and discuss examples of the RBIA documentation form the case study including;

    • Risk Register,
    • Audit Procedures and
    • Transaction Files.
  • Closing Discussion - Difficulties facing the Internal Auditor
  • The instructor will examine and discuss some of the pitfalls that the Internal Auditor may face in his/her assignment and some potential solutions.






Meet Your Instructor

Stanley Epstein
Banking, Payments, Operational Risk & Back Office Specialist and Bank Trainer

Stanley Epstein has had extensive experience in banking and IT specifically the operations, payments, RTGS and the operational risk aspects of banking in the UK, Europe, the USA, Australia and Southern Africa. His bank-operations, payments systems, operational risk and clearing house experience is wide ranging and includes working closely with organisations such as UNCITRAL, Deutsche Bank and CHIPS in New York; APACS, British Bankers Association, CLS and Barclays Bank in London; Crédit Agricole in France; UBS and Credit Suisse in Switzerland, the central bank in the Netherlands; Alpha Bank in Greece; the central bank in Romania; the central bank in Kazakhstan; Bank Leumi and the central bank in Israel; the Standard Bank, Clearing Bankers Association; Bankserv and the central bank in South Africa and ANZ and Commonwealth Bank in Australia.

Commencing his career at the Standard Bank of South Africa he gained a thorough grounding in all aspects of banking ranging from the bank’s branch system, back-office payments processing. He was also closely involved in the development of electronic banking at the Standard Bank. At a banking industry level he was involved in the creation and development of STRATE (Central Securities Depository in South Africa dealing with the dematerialization, clearing and settlement of all financial instruments in that country. He also served as Vice Chairman of the South African Clearing Bankers Association’s ERAG Group (an interbank payments/operations risk initiative established to identify & eliminate operational, legal and other risks in electronic payments) and later as Chairman of the Payments Association of South Africa Operational Risk Committee. On leaving South Africa he joined Fundtech Corporation, a leading provider of financial technology based in the US.

Stanley has a Master’s degree in Economics which he earned with a dissertation on Financial Innovation and a Bachelor of Commerce degree in Accounting.





Register Online


Get the Invitation
Pre-Register yourself and get the official Invite when venue and dates are announced for this seminar.
Call here to register +1-888-717-2436 or email at customercare@complianceonline.com


Register by P.O. / Check


Yes, I want to attend "Risk Based Internal Auditing (RBIA): 2-day Comprehensive Training Workshop".

If you are paying by check:

Checks should be payable to MetricStream Inc. (our parent company) and mailed to:
2479 East Bayshore Road
Suite 200
Palo Alto, CA 94303
USA

Group Registrations

Significant tuition discounts are available for teams of two or more from the same company. You must register at the same time and provide a single payment to take advantage of the discount.

2 Attendees - Get 10% off
3 to 6 Attendees - Get 20% off
7 to 10 Attendees - Get 25% off
10+ Attendees - Get 30% off

Register by Wire Transfer




Terms & Conditions to Register for the Seminar/Conference/Event

Your registration for the seminar is subject to following terms and conditions. If you need any clarification before registering for this seminar please call us @ +1-888-717-2436 or email us @ editor@complianceonline.com

Payment:
Payment is required 2 days before the date of the conference. We accept American Express, Visa and MasterCard. Make checks payable to MetricStream Inc. (our parent company).

Cancellations and substitutions:
Written cancellations through fax or email (from the person who has registered for this conference) received at least 10 calendar days prior to the start date of the event will receive a refund — less a $200 administration fee. No cancellations will be accepted — nor refunds issued — within 10 calendar days before the start date of the event.

On request by email or fax (before the seminar) a credit for the amount paid minus administration fees ($200) will be transferred to any future ComplianceOnline event and a credit note will be issued.

Substitutions may be made at any time. No-shows will be charged the full amount.

We discourage onsite registrations, however if you wish to register onsite, payment to happen through credit card immediately or check to be submitted onsite. Conference material will be given on the spot if it is available after distributing to other attendees. In case it is not available, we will send the material after the conference is over.

In the event ComplianceOnline cancels the seminar, ComplianceOnline is not responsible for any airfare, hotel, other costs or losses incurred by registrants. Some topics and speakers may be subject to change without notice.

Attendance confirmation and documents to carry to the seminar venue:
After we receive the payment from the registered attendee, an electronic event pass will be sent to the email address associated with the registrant 5 working days before the seminar date. Please bring the pass to the venue of the event.

Conference photograph / video:
By registering and attending ComplianceOnline conference, you agree to have your photographs or videos taken at the conference venue and you do not have any objections to ComplianceOnline using these photos and videos for marketing, archiving or any other conference related activities. You agree to release ComplianceOnline from any kind of claims arising out of copyright or privacy violations.

Testimonials

This was a well-organized event. The speaker was very informative and the seminar was covering great real life examples that kept everyone engaged. ComplianceOnline is very helpful and it has a professional approach in conducting regulatory trainings.
- Third Party Vendor Management Lead, JPMorgan Chase

The seminar was very informational and the material is very useful in implementing risk assessment program in organizations.
- Cash Management Operations Assistant Manager, Flushing Bank

Instructor was highly knowledgeable and the subjects were well chosen.
- Audit Supervisor, Flushing Bank

Speaker did a great job and topics related to operations risk structures and frameworks were highly useful.
- Manager, Discover Home Loans, Inc.

This was a very informative seminar. The presenter had thorough knowledge on the subject. He was providing good examples on each topic as he went through the program.
- Deposit Operations Manager, AVP, Flushing Bank

It was a good introduction into risk assessment.
- AVP, Risk Management, MB Financial Bank

Presenter was very knowledgeable on the topic.
- Assistant Vice President/Branch Operations Team Leader, Flushing Bank

Real world examples discussed during the seminar was beneficial.
- VP of Operations, Southwest Securities

This seminar was very informative and the speaker was very knowledgeable. Case studies discussed were highly useful.
- Assistant Security Officer, Flushing Bank





Media Partners

Sponsors



Media Partner Benefits
  • Logo and company data on the event website.
  • Logo on the conference material distributed during the conference.
  • Media partner’s brochure distributed along with conference material.
  • Logo on all the mailings before and after the event.
  • 10% discount to media partner's subscribers.


Media Partner To Do
  • Banner (min 728x90 or 468x60) on the media partner website.
  • Insertion of the event in the event calendar, both printed and/or online.
  • Announcement article of the conference on the magazine and/or website.
  • Dedicated email blast to media partner’s subscribers.
  • Article on the magazine and/or website after the conference.






Local Attractions

It is the official London residence of the Queen and principal workplace of the British monarch. It is located in the City of Westminster. Open for tours during the summer months only, but a must-see sight even if you don't go in.




The London Eye is a giant Ferris wheel situated on the banks of the River Thames in London. The entire structure is 135 meters (443 ft.) tall and the wheel has a diameter of 120 meters (394 ft.). It is the tallest Ferris wheels in Europe and the most popular paid tourist attraction in the UK. London Eye is visited by over 3.5 million people annually.




Situated just south east of the City, is London's original royal fortress by the Thames. It is over 900 years old, contains the Crown Jewels, guarded by Beefeaters, and is a World Heritage site. It is also considered by many to be the most haunted building in the world. If you are interested in that sort of thing it’s definitely somewhere worth visiting.




Tower Bridge (built 1886–1894) is a combined bascule and suspension bridge in London, over the River Thames. It is close to the Tower of London, from which it takes its name. it has become the iconic symbol of London.




This museum in London is dedicated to human history and culture. Its permanent collection, numbering some eight million works, is among the largest and most comprehensive in existence and originates from all continents, illustrating and documenting the story of human culture from its beginnings to the present.




St Paul's Cathedral, London, is a Church of England cathedral and seat of the Bishop of London. The cathedral is one of the most famous and most recognizable sights of London, with its dome, framed by the spires of Wren's City churches, dominating the skyline for 300 years. St Paul's Cathedral occupies a significant place in the national identity of the English population.




It is a major tourist attraction located in Central London, housed in the former London Planetarium. It is famous for recreating famous people and celebrities, in wax.




The National Gallery is an art museum on Trafalgar Square, London. Founded in 1824, it houses a collection of over 2,300 paintings dating from the mid-13th century to 1900.






Follow us :
We need below information to serve you better