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 and this Certificate is the benchmark operational risk management and conduct risk management qualification for the banking industry in Ireland.
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.
The programme is designed to provide a deep and practical understanding of the key operational risks and conduct risks facing financial services professionals in Ireland today and the tools to identify, measure and mitigate those risks to improve business performance.
The programme is relevant to holders of the QFA, holders of the Professional Certificate or Diploma in Compliance, banking compliance and risk professionals, financial institutions’ frontline staff, retail business centre and corporate banking staff, financial institutions central functions risk and compliance professionals including;
Compliance, Operational risk, Internal Audit, Credit review, Legal, Finance, Technology, Change Management. Credit Union Board compliance and risk committees and Credit Union managers and staff, Regulatory bodies, auditors, accountants, lawyers, stockbrokers, business consultants and other professionals who provide risk management advisory services.
Global best practice tools for the identification, assessment, measurement and management of operational risks and conduct risks
A deep and practical understanding of the requirements and responsibilities of operational risk and conduct risk management
A thorough understanding of key practical and relevant operational risks facing banking professionals in Ireland today including inter alia Financial Crime Prevention / AML/CFT/ KYC/, external and internal fraud, information security, IT resilience, cybercrime, outsourcing, business continuity planning, data quality, data protection, impact on capital and other practical areas
Knowledge and skills to capture, report and investigate operational risk events and conduct risk events
An understanding of how to produce meaningful Risk MI including Key Risk Indicator (KRI) data and trend analysis, and how to implement operational risk appetite and conduct risk appetite
An understanding of how to manage an operational and conduct risk assessment programme and apply it in your own workplace
An advanced ability to blend theory and practice in operational and conduct risk management to improve business performance
Enhanced business judgement, critical analysis and problem solving skills.
If you hold an IOB designation or a designation managed by IOB, CPD hours may be awarded on successful completion of this programme.
Operational Risk Management Practices module is assessed by:
Continuous assessment - 10%
An end of trimester two-hour written exam - 90%
Banking Risk Management Framework, Culture and Conduct Risk module is assessed by:
An end of trimester two-hour written exam - 100%
Successful participants will be awarded the Professional Certificate in Conduct Risk, Culture and Operational Risk Management by UCD.
This is a level 8 qualification on the National Framework of Qualifications.
Operational Risk Management Practices €595
Banking Risk Management Framework, Culture and Conduct Risk €495
Aisling O'Sullivan - Programme Manager
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 credit role with responsibility for credit decisions in financial services.
You must be a current member of IOB, or become a member, to undertake this programme.
(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.