Operational Risk Scenario Analysis
Instructor:
Mario Mosse
Product ID: 703751
Training Level: Intermediate
- Duration: 90 Min
Why Should You Attend:
Scenario analysis has become an important tool in the practice of operational risk management. Subject matter experts develop and analyze unlikely but plausible extreme events that might result in significant losses for a financial services company. Examples are natural disasters, acts of terrorism, data breaches, class action suits and fraud. Understanding and estimating the likelihood and impact of extreme events is essential to effective risk response and capital planning, stress testing, risk financing (i.e. insurance), business continuation planning, and preparation of own risk and solvency assessment (ORSA) reports.
This webinar will outline the objective, methodology, roles and responsibilities, and reporting best practices of operational risk scenario analysis. It will also discuss the link between scenario analysis and regulatory capital requirements imposed on financial institutions.
Areas Covered in the Webinar:
- Background: why scenario analysis?
- Objectives and expected benefits
- Methodology for selecting, analyzing, quantifying and reporting operational risk scenarios
- Understanding secondary and tertiary impacts
- Understanding impact to reputation
- Scenario analysis as a component of the operational risk capital requirement calculations
- Risk response (avoidance, reduction, sharing and acceptance)
- Reporting results to the board of directors and external stakeholders
Who Will Benefit:
This webinar will benefit individuals occupying the following positions in the financial services industry:
- Risk Officers
- Compliance Officers
- Internal and External Auditors
- Financial Controllers
- Operations Managers
- Information Technology Managers
Mario Mosse
President, MMosse Consulting LLC
Mario Mosse has over 40 years of experience in operational 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. Prior to joining Prudential, Mr. Mosse was with The Chase Manhattan Bank, where he held several senior positions in internal audit and risk management.
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