What is Operational Risk Management?
Operational risk management (ORM) refers to the continuous cyclic process which encompasses risk decision-making, risk assessment and effective risk controls implementation resulting to the acceptance, avoidance and mitigation of risk. It is a process which emphasizes oversight of some of the most common operational risks including those risks associated to incurring losses that result from failed and insufficient internal systems and processes, external events or human factors. When it comes to implementing the operational risk management process, you should keep in mind that there are four basic principles associated to it. These are accepting risks if you notice that benefits are capable of outweighing costs, accepting no unnecessary risks, formulating risk decisions at the most suitable level and taking advantage of an effective plan to effectively manage and anticipate risks. If you want to become a certified professional in the field of operational risk management, then you should also remember that the whole process comes in three levels namely the following:
- In depth Risk Management which you need to take advantage of before the actual implementation of a project as this will offer more time for planning and preparation.
- Deliberate Risk Management which you can use during the routine periods all throughout the project or process implementation
- Time Critical Risk Management which is essential during the actual execution of tasks or during the period of operational exercises
Brainmeasures Operational Risk Management Certification Program
Becoming an expert in the field of operational risk management is no longer difficult at present with the existence of the operational risk management certification course at Brainmeasures. The operational risk management course offered by Brainmeasures is developed by real experts in the industry in such a way that you will never experience any difficulty understanding all the principles and essential concepts linked to the implementation of the process. It allows you to take advantage of a well-laid out operational risk management training which gives you the opportunity to build an even stronger foundation about operational risk management. By taking part in the operational risk management certification course from Brainmeasures, you will become more familiar about the steps and procedures involved in carrying out the operational risk management process, the many benefits that you will receive from its successful implementation and the different strategies that you can use to make the most out of the process. Completing this certification course is a good way to reward yourself with an operational risk management certificate which proves your expertise and skills in the field.
Highlights of the Operational Risk Management Certification Program from Brainmeasures
By enrolling in the operational risk management certification program offered by Brainmeasures, it will no longer be impossible for you to start taking advantage of the whole process. This operational risk management certification course offers in-depth information about the following topics:
- Introduction to implementing the operational risk management (ORM) process, its importance and major benefits
- Issues and challenges that you may encounter during the actual implementation of the operational risk management process
- Issues and challenges that you may face with loss data, expert judgment and techniques, software tools and technology
- Philosophies and strategies linked to ORM
- Carrying out effective research before the actual implementation of ORM
- Operational risk definition and its different dimensions
- Effectively identifying, assessing, mitigating and reporting operational risks
- Building stronger group support systems
- Preparing an effective operational risk management plan
- Starting points that are essential in improving the performance of your operational risk management plan
- Understanding the design phase of operational risk management
- Methods involved in analyzing risks
- Different ways of thinking, working, modeling and controlling to achieve success in the implementation of operational risk management
Beneficiaries of the Operational Risk Management Certification Program
Many professionals are going to receive a lot of benefits from taking part in the operational risk management certification program offered by Brainmeasures. It is extremely beneficial to anyone who wishes to strengthen their knowledge in the field of operational risk management. This operational risk management certification course is even more beneficial for existing and aspiring operational risk managers, chief risk officers, compliance officers, regulators and any other professionals who are responsible in effectively managing operational risks while also effectively supervising the entire operational risk management process at various financial institutions.
Job Opportunities after Completing an Operational Risk Management Certification Course
Enrolling in an operational risk management certification course and successfully completing it is a huge help when it comes to making a dramatic increase in the number of jobs that will be opened up for you. You can expect your operational risk management certification to help you get the following positions:
- Operational Risk Manager
- Chief Risk Officer
- Operational Risk Controller
- Business Continuity Manager
- Operational Risk Management Director
- Disaster Recovery Specialist
Expected Salary for Operational Risk Management Certification Holders
The jobs that you can get after you successfully complete your operational risk management certification course can be expected to offer you a higher and an even more stable salary. If you decide to use your operational risk management certification to work as an operational risk controller, then you can expect to start earning within the range of $101,000 to $109,000 annually. You can also work as an operational risk manager which gives you the opportunity to receive around $95,000 to $174,000 per year. If you work as an operational risk management director while showing your extensive experience in the field, then expect this career to let you receive around $178,000 to $190,000 annually.