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.

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 MSU[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 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 relate...