THE INSTITUTE OF OPERATIONAL RISK, SCOTLAND CHAPTER

The Scotland Chapter of the Institute of Operational Risk held an excellent event on April 19^th for Operational Risk leaders.

The IOR’s Certificate in Operational Risk Management (CORM) – Sean Titley (Director, Business Development, Institute of Operational Risk) opened the event by providing an overview of the CORM. Sean highlighted that it is an externally accredited course comprising a self-study workbook supplemented with workplace reflection and learning activities, providing candidates with a foundation in operational risk management.

Risk Culture – Grant Thornton then presented an insightful and interactive session on risk culture. The session examined how the six drivers of culture within an organisation specifically impact the risk culture across a firm. These drivers are: strategy, leadership, people management, resource management, process management and change and corporate responsibility. The session described in tangible and measurable ways how risk culture needs to be assessed through all the levels of an organisation to ensure consistency of message from the top through to the front line.

Regulation in Operational Risk – The session closed with another thought provoking and interactive session covering the subject of regulation in Operational Risk. The session covered specific areas of  regulation in Operational Risk including: Operational Risk governance, selection of scenarios and stress testing, risks due to outsourcing of critical services, Conduct-related risks and Operational Continuity.

Sean closed the session by thanking Grant Thornton for hosting and providing excellent speakers for another successful IoR event.