How to Develop an Effective Risk Register

Why Should You Attend:

A risk register as part of the overall risk management program will help management:

• Understand the risks the organization faces and its inherent exposure to those risks
• Identify the organization’s risk appetite to each risk exposure
• Recognize its ability to control and reduce the residual risk to be within the established risk appetite
• Report the status of risks and associated controls at any point in time
• Report the status of control issues and action plans
• Have in place risk event "early warning" parameters, scenario analysis results and loss event data

The risk register will help the organization record the following risk management information:

• Description of risk and inherent risk assessment, based on likelihood and severity
• Approved risk appetite levels
• Existing controls and other mitigating strategies, as well as an evaluation of their effectiveness
• Residual risk
• Control issues and action plans developed to address them

Areas Covered in the Webinar:

• Design and use your own ‘fit-for-purpose’ risk register
• Collate risk and control information from multiple sources into a central risk register
• Make proper use of tools such as ‘bowties’ and ‘risk matrix’ to support your register
• Keep your register live and ensure it is the ‘go-to’ dashboard for status reports
• Make sure your register prompts action

Who Will Benefit:

• Risk Officers
• Compliance Officers
• Internal and External Auditors
• Financial Controllers
• Operations Managers
• Treasurers
• Board Members
• Business Managers
• Investment Managers

Mario Mosse
President, MMosse Consulting LLC

Mario Mosse has over 40 years of experience in enterprise risk management, internal audit and regulatory compliance at financial services companies. He is the president of MMosse Consulting, LLC, where he provides risk management advice and training to the financial services industry. Previously, he was the head of Operational Risk Management at Prudential Financial, Inc. and with The Chase Manhattan Bank, where he held several senior positions in risk management and internal audit.

Topic Background:

Sound risk management practices require the development and maintenance of ongoing processes, such as risk and control self-assessment and key risk indicators, to enable the identification and assessment of risks, the impact they may have on the organization, and to evaluate the effectiveness of mitigating strategies to reduce these risks to an acceptable level. What results from this process is a substantial amount of risk management information that needs to be managed in such a way that it can be found and applied quickly and efficiently.

A risk register, also known as a risk log, serves as a central repository for the organization's risk information and allows for it to be sorted, filtered, and consolidated for presentation to the appropriate level of management. Its key function is to provide management, the board, and key stakeholders with significant information on the main risks faced by the organization. The risk register also gives the organization's risk management stakeholders a clear view of the current status of each risk, at any point in time.

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