Understanding, developing and using KRIs (Key Risk Indicators) in Operational Risk Management
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Speaker : STANLEY EPSTEIN
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When : Wednesday, November 20, 2024
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Time : 11 : 30 AM EST
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Stanley holds a Master’s degree in Economics and a BCom. degree in Accounting from the University of South Africa, Pretoria. He has extensive banking and IT experience, 33 of which were with the Standard Bank of South Africa. He also filled several industry level roles in South Africa. This included that of Chairman of the South African interbank PASA Risk Committee, member of the South African Clearing Bankers Association’s ERAG Group and of having represented South Africa at UNCITRAL (United Nations Commission for International Trade Law) in New York, in the formulation of the foundational legal concepts for electronic banking.
Key Risk Indicators (KRIs) are the measures and metrics that relate to a specific risk and show a change in the likelihood or result of that particular risk occurring. KRIs provide an early warning to identify potential events that may harm continuity of an activity, operation or a project. Their use is an integral part of the risk management process.
This course provides an introduction into understanding, developing and using KRIs in everyday business activities. In this course, we will discuss how KRIs fit into the risk management spectrum, how KRIs are developed and how they are used.
Specific issues covered are; developing effective KRIs, how KRIs provide opportunities for proactive strategic risk management, KRI information sources, and how KRIs are set up for practical use. The course material is illustrated with many examples to provide a practical view of KRIs in action.
- Explore how KRIs differ from KPIs (Key Performance Indicators)
- Identify the critical stages in the KPI process
- Discover how management’s objectives are linked to corporate strategies and to KRI’s
- Recognize the critical issues that must be addressed to make your KRI program practical
- Discover the vital issues involved in the reporting of KRIs
Areas Covered
- Introduction to Operational Risk Management – Understanding, developing and using KRIs (Key Risk Indicators)
- KRI's and their relationship to risk
- KRI's (Key Risk Indicators)
- KRI's – Roles, communication and reporting
- What KRI's add to risk management
Who Should Attend
Risk Managers and Analysts, Operational Risk Officers, Compliance Officers, Internal Auditors, Chief Risk Officers (CROs), Financial Controllers, Business Continuity Managers.
Why Should You Attend
Here are compelling reasons to attend:
- Foundational Knowledge of KRIs: The webinar provides a thorough understanding of KRIs, including their definition, purpose, and importance in operational risk management. This foundational knowledge is crucial for professionals who want to effectively incorporate KRIs into their risk management strategies.
- Development of Effective KRIs: One of the key learning objectives is to discover how to develop KRIs that are relevant, measurable, and actionable. The webinar will cover best practices and methodologies for creating KRIs that accurately reflect potential risks and provide early warning signals.
- Application in Operational Risk Management: Understanding how to use KRIs in the context of operational risk management is critical. The webinar will explore practical applications of KRIs, demonstrating how they can be integrated into daily risk management processes to monitor and mitigate risks proactively.
- Identification of Relevant Risk Indicators: The webinar will guide attendees on how to identify the most relevant KRIs for their specific organizational context. This involves selecting indicators that align with the organization’s risk profile, objectives, and regulatory requirements.
- Enhancement of Risk Monitoring and Reporting: Effective KRIs enhance risk monitoring and reporting processes. The webinar will provide insights into designing KRIs that improve the clarity, accuracy, and timeliness of risk reports, facilitating better decision-making.
- Regulatory Compliance and Risk Governance: With increasing regulatory scrutiny on risk management practices, understanding KRIs is essential for ensuring compliance. The webinar will cover how KRIs can support regulatory compliance and strengthen risk governance frameworks.
Topic Background
In the intricate landscape of operational risk management, Key Risk Indicators (KRIs) play a crucial role in identifying, monitoring, and mitigating risks. The webinar "Understanding, Developing, and Using KRIs in Operational Risk Management" offers a comprehensive guide to mastering KRIs, making it an essential event for professionals in this field.
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$210.00
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