University College Dublin
The programme is a unique and specialist risk management programme for those working in the banking industry. The programme was designed in conjunction with operational risk and conduct risk professionals working in banking, this Certificate is the benchmark operational risk management and conduct risk management qualification for the banking industry in Ireland.
University College Dublin
Propel your career
The programme is a progression for individuals who have completed the Professional Diploma in Financial Advice, who are designated Qualified Financial Advisers (QFA), and also individuals who have completed the Professional Certificate or Diploma in Compliance.
(NFQ Level 8, 10 ECTS)
Operational risk defined. The importance of operational risk and the Probability Risk and Impact SysteM (PRISM). The differences between operational risk and other types of risk. Recent failures in operational risk. Operational risk basics. Three lines of defence. Operational risk taxonomies. Operational risk management frameworks. Risk capacity. Risk appetite statements. Risk policies. Risk pricing and capital. Risk information, Key Risk Indicators (KRIs) reporting and KRI framework. Risk assessment. Risk management and action plans. Risk modelling. Insurance mitigation.
The practical workshop areas will include inter alia: Financial crime prevention. Anti–Money Laundering/Countering of Financing of Terrorism. Know Your Customer, Irish and UK. Anti- Corruption laws. External and internal fraud. Information security, IT resilience, cybercrime. Outsourcing. Business continuity planning. Data quality and other practical areas.
(NFQ Level 8, 5 ECTS)
Definition of conduct risk: How does conduct risk transpire. Application to retail and wholesale markets. Conduct risk as defined by the FCA and what lies at its core i.e. seeking the best outcome for the customer. Drivers/causes of conduct risk. Constituents of conduct risk including behavioural economics. Conduct risk frameworks and its relationship with the overall banking risk framework. Conduct risk appetite statements. Conduct risk policies and common metrics for assessing conduct risk performance in an organisation. How conduct risk relates to operational risk. The difference between conduct risk and compliance. Conduct risk impacts on customers, on employees, the financial institution and on markets (positive/negative). How ethical behaviours and decisions can improve customer outcomes. Applying the theory to a number of real life Irish and UK examples using case studies. Risk governance. People, roles and responsibilities. The Board .The CRO. Wider reporting. Systems and documentation. Risk management process. Risk culture. Leadership and risk culture. The role of the risk management function in risk culture. The place of other staff in risk culture. Evaluating risk culture.
Individuals seeking admission to the Professional Certificate in Conduct Risk, Culture and Operations Risk Management will have:
3 years’ experience (full-time) in a relevant banking role and have completed the Professional Diploma in Financial Advice or equivalent 30 ECTS level 7 programme or
Have an Honours degree (min. H2.2, level 8 NFQ) or
Admission will also be considered from experienced professionals who do not meet the minimum admission requirements as set out above, who can demonstrate learning based on work and training experience e.g. Individuals employed in a risk role with responsibility for decision-making.
You must be a current member of IOB, or become a member, to undertake this programme.
This course explores how firms can support and develop a consumer-focused culture within their organisations and offers powerful learning and tremendous insights to all learners.
Anne-Marie Butler, Teagasc
The evolving developments and threats from technology, cyber risk, and disruptive business models will continue to make operational risk a critical and increasing focus for firms and a great area for study and career opportunities.
James Butler, Albany Beck