Operational Risk Management In Pension Administration: Secure Pension Operations

Introduction:

Operational Risk Management in Pension Administration equips professionals with the skills to identify and mitigate risks related to pension fund operations and administration. This course focuses on developing robust operational risk frameworks, implementing effective control measures, and ensuring business continuity. Participants will learn to analyze process vulnerabilities, manage technology risks, and safeguard sensitive data. By mastering operational risk management, professionals can enhance the efficiency and resilience of pension administration, ensuring smooth and secure operations.

Target Audience:

This course is designed for professionals involved in pension fund administration, operations, and risk management. This includes Pension Administrators, Operations Managers, Risk Managers, IT Managers, Compliance Officers, Internal Auditors, Trustees, Consultants, HR Professionals, and Legal Counsel. These individuals require expertise in operational risk management to ensure the integrity and efficiency of pension fund operations.

Course Objectives:

• Understand the key operational risks in pension fund administration.
• Develop and implement comprehensive operational risk management frameworks.
• Analyze and improve pension administration processes to mitigate risks.
• Implement effective internal controls and segregation of duties.
• Understand and manage technology and cybersecurity risks in pension operations.
• Develop business continuity and disaster recovery plans.
• Analyze and mitigate risks related to third-party vendor management.
• Understand the role of data governance and privacy in operational risk.
• Implement strategies for training and educating staff on operational risk.
• Develop a framework for continuous monitoring and improvement of operational risk management.

DURATION

10 Days

COURSE CONTENT

Module 1: Introduction to Operational Risk in Pension Administration

• Overview of operational risk and its impact on pension funds.
• Understanding the key components of operational risk management.
• Introduction to relevant frameworks and standards (e.g., COSO, ISO).
• Setting the stage for developing robust operational risk management strategies.

Module 2: Identifying Key Operational Risks in Pension Administration

• Analyzing the types of operational risks (process risk, people risk, technology risk, external events).
• Understanding the impact of errors, fraud, and system failures.
• Examining the role of risk assessments and control self-assessments.
• Developing methodologies for identifying and documenting operational risks.

Module 3: Developing an Operational Risk Management Framework

• Implementing techniques for developing an operational risk management framework.
• Understanding the role of risk policies, procedures, and guidelines.
• Analyzing the importance of risk appetite and tolerance.
• Developing strategies for integrating risk management into daily operations.

Module 4: Analyzing and Improving Pension Administration Processes

• Implementing techniques for analyzing and documenting pension administration processes.
• Understanding the role of process mapping and flowcharts.
• Analyzing the impact of process inefficiencies and bottlenecks.
• Developing strategies for process improvement and risk reduction.

Module 5: Implementing Effective Internal Controls and Segregation of Duties

• Understanding the role of internal controls in mitigating operational risks.
• Analyzing the importance of segregation of duties and authorization controls.
• Examining the impact of control design and effectiveness.
• Developing strategies for implementing and monitoring internal controls.

Module 6: Technology and Cybersecurity Risks in Pension Operations

• Understanding the technology and cybersecurity risks in pension operations.
• Analyzing the impact of system failures, data breaches, and cyberattacks.
• Examining the role of IT security policies and procedures.
• Developing strategies for managing technology and cybersecurity risks.

Module 7: Business Continuity and Disaster Recovery Planning

• Implementing techniques for developing business continuity and disaster recovery plans.
• Understanding the role of business impact analysis and recovery strategies.
• Analyzing the impact of disruptions and emergencies.
• Developing strategies for ensuring operational resilience.

Module 8: Third-Party Vendor Management and Risk Mitigation

• Analyzing and mitigating risks related to third-party vendor management.
• Understanding the role of vendor due diligence and contract management.
• Examining the impact of vendor performance and service level agreements.
• Developing strategies for managing vendor risks.

Module 9: Data Governance and Privacy in Operational Risk

• Understanding the role of data governance and privacy in operational risk.
• Analyzing the impact of data breaches and privacy violations.
• Examining the role of data protection policies and procedures.
• Developing strategies for ensuring data security and compliance.

Module 10: Training and Education on Operational Risk

• Implementing strategies for training and educating staff on operational risk.
• Understanding the role of awareness programs and risk culture.
• Analyzing the impact of training on risk management effectiveness.
• Developing techniques for enhancing risk awareness.

Module 11: Incident Management and Reporting

• Understanding the role of incident management and reporting in operational risk.
• Analyzing the impact of incident response and investigation.
• Examining the role of incident reporting and root cause analysis.
• Developing strategies for effective incident management.

Module 12: Control Self-Assessment and Testing

• Implementing techniques for conducting control self-assessments and testing.
• Understanding the role of control effectiveness testing and validation.
• Analyzing the impact of testing results on risk management.
• Developing strategies for continuous control improvement.

Module 13: Regulatory Compliance and Reporting for Operational Risk

• Understanding the regulatory and compliance aspects of operational risk.
• Analyzing the role of regulatory reporting and disclosure requirements.
• Examining the impact of regulatory examinations and audits.
• Developing strategies for ensuring regulatory compliance.

Module 14: Case Studies and Best Practices in Operational Risk Management

• Analyzing real-world case studies of operational risk management in pension administration.
• Learning from best practices across different pension funds and regions.
• Identifying key lessons learned and challenges in implementation.
• Discussing the role of innovation and adaptation.

Module 15: Continuous Monitoring and Improvement of Operational Risk Management

• Implementing strategies for continuous monitoring and improvement of operational risk management.
• Understanding the role of key risk indicators (KRIs) and risk dashboards.
• Analyzing the impact of performance metrics and feedback.
• Developing action plans for enhancing operational risk capabilities.

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 5 working days before commencement of the training.