Developing and Implementing Key Risk Indicators

When developing Key Risk Indicators, or KRIs, knowledge of the organization and its operations—plus knowledge of its potential risks, threats, and vulnerabilities—are the essential starting points. Without an understanding of the organization, it is difficult to identify where it may be at risk. This course provides an internal and external view of Key Risk Indicators and how to map them to critical operational aspects of the organization to identify how those key attributes could be disrupted and effectively managed to ensure sustainable growth.

This course is highly interactive, with participants engaged in identifying risks, threats, and vulnerabilities the organization faces and developing action plans to improve a firm's ability to mitigate such events. Participants will rank the business attributes based on how important they are to the organization and the risks based on how much damage they could do. They will then link them, as well as the metrics and review processes, using relevant exercises, tools, templates, and case studies.

By the end of the course, participants will be able to:

• Explain key components of effective KRI capability and how to integrate them into the overall Enterprise Risk Management framework
• Identify and design an effective and robust set of relevant KRIs, and rank them based on their criticality to the business
• Develop strong KRIs with efficient processes related to data collection, recording, and reporting
• Set appropriate thresholds to reflect risk appetite/tolerance, and report them in a meaningful way
• Develop critical skills to carry out KRI identification workshops with management teams

This course is ideal for operational risk managers, risk analysts or officers, risk modeling experts, risk appetite and culture advocates, risk reporting officers, internal auditors, and compliance officers.

• Identification of Key Risk Indicators
• Risk management
• Risk analysis
• Risk compliance
• Risk avoidance
• Risk management
• Risk reporting
• Business process analysis
• Risk assessment and quantification
• Business understanding