Operational Risk Management In Complex Systems Training Course

Introduction

In today's intricate and interconnected business environment, effective Operational Risk Management in Complex Systems is paramount for ensuring organizational resilience, safeguarding reputation, and achieving strategic objectives. This essential training course is meticulously designed to equip risk managers, operations professionals, supply chain specialists, compliance officers, and business leaders with the specialized knowledge and practical skills required for reducing risks within operational processes and supply chains. Participants will gain a robust understanding of identifying, assessing, mitigating, and monitoring diverse operational risks, from process failures and human error to technological disruptions and external dependencies, enabling them to build robust and efficient operational frameworks. Our comprehensive curriculum emphasizes hands-on application, best practices, and real-world case studies pertinent to navigating complex organizational structures and global supply networks, empowering you to optimize performance and minimize disruptions.

This process risk management course is crucial for individuals and organizations striving to move beyond reactive problem-solving towards a proactive, integrated approach to managing day-to-day and strategic operational uncertainties. Mastering complex supply chain risk management, implementing robust process control methodologies, and understanding strategies for enhancing operational resilience are indispensable for preventing costly errors, ensuring business continuity, protecting customer trust, and driving sustainable growth. This program offers an unparalleled opportunity to elevate your expertise in strategic operational oversight and systemic risk mitigation, positioning your organization at the forefront of operational excellence and driving significant competitive advantage in a demanding global marketplace.

Target Audience

• Operational Risk Managers
• Operations Directors & Managers
• Supply Chain Managers & Specialists
• Process Improvement Professionals (Lean, Six Sigma)
• Compliance & Internal Audit Professionals
• Business Unit Heads & Department Managers
• Business Continuity & Resilience Specialists

Course Objectives

• Understand the fundamental concepts and principles of operational risk within complex systems.
• Learn advanced methodologies for identifying and assessing diverse operational risks across processes and supply chains.
• Master techniques for root cause analysis of operational failures and incidents.
• Develop proficiency in designing and implementing effective operational risk mitigation strategies and controls.
• Explore best practices for managing risks within intricate global supply chains.
• Understand the role of technology and automation in enhancing operational risk management capabilities.
• Learn about robust operational risk reporting, metrics, and key risk indicators (KRIs).
• Identify the critical role of organizational culture, human factors, and leadership in operational risk management.
• Develop skills in integrating operational risk management with business continuity and crisis management.
• Understand regulatory compliance requirements and industry standards relevant to operational risk.
• Explore strategies for optimizing operational processes for efficiency and resilience.
• Drive the implementation of a comprehensive operational risk management framework across complex systems.
• Position yourself as a strategic leader in enhancing operational resilience and business performance.

Duration

10 Days

Course Content

Module 1. Introduction to Operational Risk in Complex Systems

• Defining operational risk: people, processes, systems, and external events
• Understanding the characteristics of complex adaptive systems
• The impact of operational risk on business objectives, reputation, and financial performance
• Interdependencies and cascading failures in complex operations
• Overview of operational risk management frameworks and standards

Module 2. Advanced Operational Risk Identification

• Techniques for identifying risks in complex processes: process mapping, value chain analysis
• Identifying risks in global supply chains: single points of failure, geopolitical, logistical risks
• Human factors in operational risk: error, fatigue, culture
• Technology risks: system failures, cybersecurity, automation risks
• External event risks: natural disasters, pandemics, regulatory changes

Module 3. Operational Risk Assessment and Measurement

• Qualitative risk assessment: probability, impact, and velocity in operational contexts
• Quantitative risk analysis for operational losses and frequency
• Root cause analysis methodologies (e.g., 5 Whys, Fishbone diagrams) for operational incidents
• Scenario analysis and stress testing for operational resilience
• Risk matrices and heat maps for prioritizing operational risks

Module 4. Operational Risk Mitigation and Control Design

• Designing effective internal controls for critical operational processes
• Automation and technology as risk reduction tools
• Process re-engineering and standardization for error reduction
• Redundancy and resilience measures in operations and supply chains
• Developing and implementing risk response plans for identified operational risks

Module 5. Supply Chain Risk Management

• Mapping and assessing risks across the entire supply chain
• Supplier due diligence and performance monitoring
• Diversification strategies and multi-sourcing
• Geopolitical and logistical risks in global supply chains
• Building supply chain visibility and traceability

Module 6. Human Factors and Culture in Operational Risk

• Understanding human error and its causes in operational settings
• The role of organizational culture in promoting or hindering risk management
• Training, competency, and awareness programs for operational risk
• Whistleblower protection and incident reporting culture
• Managing behavioral risks and ethical conduct

Module 7. Technology and Automation in Operational Risk

• Risks associated with new technologies: AI, IoT, robotics
• Implementing IT General Controls (ITGCs) for operational systems
• Cybersecurity controls for operational technology (OT) and industrial control systems (ICS)
• Leveraging data analytics for real-time operational risk monitoring
• Automation of routine tasks to reduce human error

Module 8. Operational Risk Monitoring and Reporting

• Developing Key Risk Indicators (KRIs) and Key Performance Indicators (KPIs) for operational processes
• Designing effective operational risk dashboards and reports
• Incident reporting and loss data collection systems
• Continuous monitoring and early warning systems for operational anomalies
• Communicating operational risk insights to various stakeholders

Module 9. Business Continuity and Operational Resilience

• Integrating operational risk management with business continuity planning (BCP)
• Developing robust recovery plans for critical operational processes
• Crisis management and emergency response for operational disruptions
• Testing and validating BCPs for operational effectiveness
• Building organizational resilience against unforeseen operational shocks

Module 10. Operational Risk in Specific Industry Contexts

• Financial services operational risk (e.g., fraud, transaction processing)
• Manufacturing operational risk (e.g., quality control, equipment failure)
• Healthcare operational risk (e.g., patient safety, data breaches)
• Energy and utilities operational risk (e.g., infrastructure failure, environmental incidents)
• Customizing ORM approaches for sector-specific complexities

Module 11. Regulatory Compliance and Operational Risk

• Understanding regulatory requirements impacting operational risk (e.g., Basel, SOX)
• Compliance frameworks and their integration with ORM
• Preparing for and responding to regulatory audits on operational controls
• Data privacy and information security compliance in operations
• Whistleblower protection and ethical conduct regulations

Module 12. Operational Risk Optimization and Process Improvement

• Applying Lean and Six Sigma principles to reduce operational risks
• Value stream mapping for identifying inefficiencies and risks
• Optimizing processes for both efficiency and resilience
• Continuous improvement cycles in operational risk management
• Leveraging automation and digital transformation for risk reduction

Module 13. Future Trends in Operational Risk Management

• The impact of hyper-automation and digital twins on operational risk
• Advanced analytics and predictive modeling for operational insights
• AI and machine learning for anomaly detection and risk forecasting
• ESG (Environmental, Social, Governance) factors in operational risk
• Adapting ORM to dynamic global landscapes and emerging technologies

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Training Venue

The training will be held at our Skills for Africa Training Institute Training Centre.

We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Skills for Africa Training Institute certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Terms of Payment: Unless otherwise agreed between the two parties’ payment of the course fee should be done 10 working days before commencement of the training.