CORPThis certification has been designed for all staff in organisations who wish to develop their ability to manage operational risk in their functions.

For staff in the operational risk management function, this certificate would enable the individual demonstration a practical and  professional understanding of operational risk environment in the organisation. It would also help prepare the holders for higher responsibilities within the industry.

The certificate is also very important for senior managers with an operational risk oversight role. The certificate is based on ISO 31000: 2009 Risk Management Principles/ Guidelines, Basel Accords and the COSO framework.The syllabus covers all aspects of operational risk management process, modeling and stress testing. The Examination is in two stages: Stage One [ fundamentals]  and Stage 2 [ Advanced].

Who should apply?

  • Managers and officers in operational risk management function
  • Process and business owners
  • Team Leaders
  • Holders of the CRMP certificate issued by RMA
  • Enterprise Risk Managers
  • Operational Risk Managers
  • Operations Managers
  • Internal Auditors
  • HR officers
  • Compliance officers
  • Consultants
  • Regulators
  • All staff in an organisation

Course Content

Emerging risks, Conduct and Risk Culture

Risk identification tools and emerging risks

Tools and techniques for risk identification

Exposures and Vulnerabilities

The Risk Wheel

Value drivers and reverse stress testing

Risk register: a list

Risk connectivity: network of risks

World economic forum: risk map

Emerging risks

Implementing ORM: the invisible framework
Governance of Operational Risk

  • 1st line and 2d line: The partnership model
  • Use and reuse: The Invisible Framework
  • Business value of ORM

Risk reporting and Conduct reporting
Modern issues on events and risk reporting: the regulator’s view

Analysing operational risk data: get insight, tell a story

Management information: the “reporting cake”

Aggregate and escalate risk information: your options

Conduct reporting: themes and details

Highlights of best practice, Group discussion and sharing of experience

Defining Risk Culture

Acting on behaviours: the Influencer

Necessary conditions: willingness and ability

Risk Culture: DESIRE steps: Define – Inspire – Support – Enable – Reinforce – Evaluate

Assessing the risk culture

Risk Appetite, Internal controls and KRIs

Defining Risk Appetite statements and tolerance limits

Industry guidance on Risk Appetite

Risk appetite, tolerance, risk limits and controls

Templates and options for actionable Risk Appetite

Risk Appetite Statements: Features and Examples

Cascading Risk Appetite: RCSA & Indicators

KRI and risks limits

Slips and mistakes: Typology and causes of human errors

HRA: Human Reliability Analysis and other methods

Understand and treat the causes of human error

Effective or Illusory controls

Prevention by Design

Root causes analysis – the bow-tie
Root cause analysis: tool and method

Benefits of root cause analysis: tracking the common failures and systematic patterns

Treating causes over symptoms

Bow-tie: a most effective tool to define

Preventive and corrective controls

Leading KRIs

Risk likelihood and expected impact

Features and types of leading KRIs
Features of leading KRIs

KRI, KPI, KCI: definitions and uses.

A typology of Key Risks indicators

KRIs: metrics of risks drivers

Cyber Security, Scenario Analysis and Project Risks
Cyber threats and information security
Cyber threat landscape

An old emerging risk

Key controls in cyber security

Physical and behavioural measures

Priorities in prevention

Lessons learnt from some incidents

Scenario Analysis: Governance, Stress testing and Assessment methods
Four dimensions of stress-testing

Steps and governance of scenario analysis

Tackling behavioral biases in scenario assessment

Industry practices and lists of scenarios

Assessing probabilities of rare events

Acting on Scenario Analysis

Reorganisation risk and project management
Risk due to changes and re-organisations

The trap of cost-cutting

Invisible opportunity costs

Essentials of project risk management



Ways to obtain CORP

There are two [2] ways to obtain the CORP certification:

Other Certifications: