Operational Risk Management – Product Implementation Course
Course Overview:
Operational Risk Management (ORM) Product enables documenting and assessing operational risks, defining controls, and implementing recommendations and remediation plans.
The App integrates all operational risk management related data and processes - a reusable library of risks and their corresponding controls and assessments, results from individual assessments, key risk indicators, events such as losses and near-misses, issues and remediation plans - in an integrated solution. This course enables participants to understand, own and manage the application independently after the training.
|
Level |
Advanced (Euphrates 1) |
|
Content |
4Hours |
|
Practice |
4 Hours |
|
Q&A with MSU |
2 Hours |
|
Pre-Requisites |
Familiarity with Operation Risk Concepts |
|
Certification Awarded* |
MetricStream Certified Operation Risk Product Implementation Associate |
Learning Objectives:
The training is focused on making trainees understand the features, process, workflows, and functionalities of the Operational Risk Management Product. At the end of the training, practice and certification, trainees will have knowledge on how to implement and perform basic configurations on the ORM product which includes knowledge on:
· Product Functionality & Use Case - Workflow Usage
o Understand the benefits of the ORM app
o Explain the key components in ORM
o Understand the standard roles in ORM
o Create and Approve Library Content
o Define and monitor Metrics
o Test controls or perform Self-Assessments
o Setup Risk Assessment Plan
o Perform Risk Assessments
o Approve Assessed Risks
o Log, Manage & Approve Issues
· Product Configuration
o Configuration Workbooks
o Updating ORM LOVs
o Updating ORM Data Tables
o ORM Configuration Parameters
· Product/Use Case Setup, User Management & Basic Administration
o Upload Library Content
o Define Risk Assessment Factors
o Create Risk Scoring Algorithms
o Create Risk Profiles
o Create Risk Perspectives
o Loss Events Setup
o Provision/Deactivate Users
o ORM Role Activities & Objects
o Map Users to ORM Org-Role Pairs
Practice &
Facetime with Instructor:
Once you start the course, please reach out to MSU at [email protected] to get a practice instance allocated. Upon completion of course content and sufficient practice, reach out to your MSU instructor for your 2 hr Q&A session to clarify and address any open questions.
Certification (Optional):
To be certified, you need to score a minimum of 75% on both the objective and practical assessment. You are allowed a maximum of 2 attempts to pass the certification tests. Please reach out to the instructor once you are ready for assessment. The maximum duration allowed for appearing for assessment is 2 weeks from the course assignment date.
Course content
-
Lesson Libraries
GRC Foundation is a comprehensive set of interlinked libraries that form the underlying GRC framework for all GRC-related activities across the enterprise. It is an add-on component to the base Met...
-
Lesson Metrics
The Metrics module provides a comprehensive approach to define key performance or key risk indicators and a powerful framework to evaluate risks, core objects, controls or organizations and assess...
-
Lesson Self-Assessments & Testing
The Self-Assessments and Testing module provides a common framework and an integrated approach to manage all compliance requirements faced by an organization. The Compliance Management module enabl...
-
Lesson Loss Events
The Loss Events module provides a comprehensive approach to identify operational losses/gains and a powerful framework to evaluate and assess them based on various factors. Loss Event integrates se...
-
Lesson Risk Assessments
The Risk Assessments module enables organizations to identify, assess, quantify, monitor, and manage their enterprise risk in an integrated manner. It brings together all risk management related d...
-
Lesson Issues
The Issues module enables organizations to automatically trigger issues based on compliance, risk, loss events or audit findings and then track the issue through to final resolution and testing.
-
Lesson ORM - Product Setup
MetricStream components can be tailored to specific requirements of an organization in different ways. This unit covers the most common requirements and functions performed by an 'Apps Administrator'.
-
Lesson ORM Product Configuration
This unit covers configuration topics enabling you to populate configuration workbooks, updating LOVs and Data Table on forms and defining workflow parameters.
-
Lesson ORM Product Administration
This unit will enable you to provision, deactivate and map users to various roles in the ORM app.
-
Lesson ORM Training Collaterals
ORM Training Collaterals
-
Lesson ORM - Use cases
-
Lesson ORM - Practice
Please reach out to your trainer for credentials to the practice instance before starting this unit.
-
Lesson Assessment & Certification
Thank you for completing the Operational Risk Management (ORM) Course. Kindly reach out to your instructor at [email protected] for access to the following certification assessments:
-
Lesson Euphrates - I Updates
Euphrates - I Updates This unit covers an overview on the Simplified Risk Assessments.