Operational Risk Management Product Implementation Specialist
$800
A course will be available for 365 days upon enrollment
Certifications / Product Implementation Specialist

Operational Risk Management Product Implementation Specialist

Overview:

This certification curriculum includes both the product implementation course and the platform administration course. Successfully completing the course content and certification exam will yield the user an Operational Risk Management Product Implementation Specialist certificate.

 

Level

Advanced

Course Duration (Including Q&A and Practice)

22 Hours

Course Completion Requirement

2 weeks from date of assignment

Pre-Requisites

Familiarity with Risk Management concepts

 

 

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 Q&A session(s) to clarify and address any open questions.

 

Certification:

To be certified, you need to score a minimum of 75% on both the objective and practical assessments. 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.

Curriculum content

  •
    Course Overview Operational Risk Management App 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 Course Duration – 4 Hours of Training Content + 4 Hours of Practice + 2 Hours of Q&A with MSU Instructor Course Completion Requirement – 2 weeks from date of assignment Pre-requisites: Familiarity with Operational Risk Management concepts   Learning Objectives:  The training is focused on the features, process, workflows, and functionalities of the IT-Compliance application. At the end of the training, practice and certification, resources will be able to understand:   Product Functionality & Use Case - Workflow Usage   ·           Understand the benefits of the ORM app ·           Explain the key components in ORM ·           Understand the standard roles in ORM ·           Create and Approve Library Content ·           Define and monitor Metrics ·           Test controls or perform Self-Assessments ·           Setup Risk Assessment Plan ·           Perform Risk Assessments ·           Approve Assessed Risks ·           Log, Manage & Approve Issues   Product Configuration ·           Configuration Workbooks ·           Updating ORM LOVs ·           Updating ORM Data Tables ·          ORM Configuration Parameters        Product/Use Case Setup, User Management & Basic Administration   ·            Upload Library Content ·            Define Risk Assessment Factors ·            Create Risk Scoring Algorithms ·            Create Risk Profiles ·            Create Risk Perspectives ·            Loss Events Setup ·            Provision/Deactivate Users ·            ORM Role Activities & Objects ·            Map Users to ORM Org-Role Pairs  

    • Lesson Overview & Navigation

      Operational Risk Management (ORM) App provides a comprehensive system to manage operational risks in a streamlined, efficient, and integrated manner. The App helps you effectively identify, assess, monitor, and mitigate operational risks. The ORM App facilitates operational risk assessments based on different qualitative and quantitative factors. It provides flexibility to evaluate, rate, and score inherent and residual risks based on a configurable scoring logic and risk matrix.

    • 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 MetricStream Integrated Risk Platform and is always installed for all products.

    • 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 them based on a periodic basis. KPI enables an organization to define its performance targets based on its goals and objectives and to monitor its progress towards achieving these targets. Whereas, KRI is an indicator which is used by organizations to help define its risk profile and monitor changes in that profile.

    • 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 enables organizations to monitor and track compliance to risks, regulations, policies, etc. This goal is achieved by setting up controls (or other such compliance mechanisms) on key risks, regulations, assets and policies. Then, on an ongoing basis, a program of surveys/certifications and testing is used to monitor continuing compliance.

    • 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 seamlessly with Issue Management application for remediation tracking. It also includes powerful tools for loss analysis and monitoring through various dashboard, heat maps and reports.

    • 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 data - 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 a single solution. Its workflow capabilities streamline the risk assessment process and enable organizations to set their priorities using risk heat maps to make strategic decisions on risk response.

    • 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 - Practice

      Please reach out to your trainer for credentials to the practice instance before starting this unit.

    • Lesson Euphrates - I Updates

      Euphrates - I Updates  This unit covers an overview on the Simplified Risk Assessments.

  • This certification requires the following assessments to be completed:   Assessment – I: The test has 60 questions that need to be answered and you will have 120 minutes to complete the assessment once started. You may start this at any time before the closure date, however once started the test cannot be paused. Hence ensure that you have set aside time to complete this assessment before you hit the  START  button. 2.   Assessment – II: This is a scenario-based assessment that ought to be completed before the assessment closure date. Since there is no time limit, you may start the test right away and complete it in any order you see fit. Please ensure that all results are captured and filled before the assessment closure dates.