Of all the different types of risks (credit, market, operational, sovereign, legal, reputational, foreign exchange), operational risk is arguably the fulcrum upon which the causation and effective management of the other types of risks largely depend. It is the reason why the causes of operational risk (people, processes, systems, and external events) are also described as the mechanisms or assets for effective risk management.

The Managing Risks in Financial Institutions delivered by a faculty of experts is designed to provide a training that will enhance the knowledge and practice of sustainable and effective risk management among board/senior management and risk managers/officers of all financial institutions in Nigeria.

Contents

With the increasing awareness and understanding of risk management, there is a growing consensus that the collapse of firms such as Enron, Barings Bank, Societe Generale, Allied Irish Bank, Lehman Brothers, Intercontinental Bank, Oceanic Bank and even the 2007-09 global financial crisis could have been averted if effective risk management was applied. Moreover, the key to effective risk management is not only about knowing the different types of risks but having a holistic understanding of the complex correlation among the different types of risks and how to manage the inherent complexity in a turbulent regulatory and risk-prone business environment such as Nigeria.

Understanding Key Concepts: Risks, Risk Management, Sustainability, Rules, and Regulations

• Types of Risks and Their Correlations
• Overview of Nigeria Financial Sector, Risk Management, Fraud and Money Laundering
• The Role of Leadership in Establishing a Compliance and Risk Management Culture
• Correlation Between Operational Risk and Other Risks
• Compliance as a Fulcrum of Effective Risk Management
• EWRM as Effective Risk Management Approach
• The Regulatory Environment (Basel I, II & III) and other rules/regulations (corporate governance)
• Drivers of Operational Risk as Assets for Effective Risk Management
• Outlook and Global Perspectives
• Six interrelated stages of Risk Management
• Basic Risk Modeling Techniques/ Scenario Analysis
• Organizational Culture and Risk Management
• Definition and Causes of Operational Risks
• Corporate Governance, Ethics, Sustainability and Risk Management
• Appraisal of the link between current regulations/rules, risk management and
• performance of firms
• Ability to evaluate models of effective risk management within the context of an enterprise-wide risk approach, risk appetite, tolerance, and risk-aware culture in financial institutions.

Key Learning Outcomes

• Detailed understanding of the causes and types of risks faced by banks.
• Understand the link between effective risk management and sustainability.
• Demonstrate a critical awareness of the current and future trends in risk management in
• Nigeria and beyond
• Ability to analyze concepts and frameworks for effective assessment of the impacts of risk.
• failures on firms (cost, regulation, compliance, and reputation)
• Good understanding of the six inter-related stages of Risk Management
• Critical examination and understanding of the relationship among the risks especially.
• Operational Risk and how it causes other types of risks.

Target Audience

The Programme is designed to benefit the following groups:

• Risk compliance/Heads of risks (credit, operational, market, legal and regulatory,
• reputation and sovereign) of banks and regulatory agencies.
• Both senior and middle management of banks and regulatory agencies.
• Board of Directors of banks and regulatory agencies