job Fysisk kurs

2-Day Operational Risk Workshop

Operational Risk management never stands still. New themes keep emerging, from Generative AI and Third-and fourth party risk management, to the core challenge of keeping the discipline alive and the business, management and Board continuously engaged.

Learning objectives

This interactive and practical two-day course has been structured to enable risk teams to reflect and adjust their frameworks and practices to remain at the forefront of industry developments and regulatory expectations.

The sessions will allow participants to

  • REFLECT on practical ways of engaging the Board, 1st line units and employees in Operational risk management
  • CONDUCT a deep dive into Third-party risk management
  • REVIEW how to enhance your Risk Event and Scenario Analysis
  • STRUCTURE an effective Operational risk appetite with predictive KRIs
  • EXAMINE an approach to Change risk assessments
  • DISCUSS top Operational risks and priorities, and successes and challenges of the future
  • REVIEW practical examples, case studies and industry benchmarks
  • INTERACT with fellow-practitioners and
  • BENCHMARK the maturity of approaches against peers

This essential course is packed with practical tips and hints and ends with Make A Difference discussion, where attendees share their take-aways that will make a real difference to their organization. Participants can choose to attend one day or both days of the course.

The course coincides with the launch of the 2nd edition of Elena’s book: Operational Risk Management in Financial services, which has been updated with the latest thinking.

Agenda – Day 1

09:00 Creating value proposition: Deriving value out of Operational risk management

  • Why Operational risk implementations struggle and how to revitalise them
  • Practical ways of engaging 1st line business: finding value proposition
  • Developing an effective network of Risk Champions
  • Educating and engaging the Board: what works well
  • Operational risk maturity ladder: moving towards embeddedness
  • Live poll and group discussion: sharing successes and challenges

10:40 – 12:00 Workshop 2: Risk Events (Losses) and Scenario Analysis

  • Operational risk events (incidents): old tool, new challenges
  • Addressing the human element, completeness, and fitness-for-purpose
  • Use of scenario analysis for risk measurement and management
  • Scenario example: what good looks like
  • Live poll and group discussion: sharing successes and challenges

12:50 – 14:10 Workshop 3: Effective Op Risk Appetite and Predictive KRIs

  • Understanding Operational risk Appetite
  • Effective ways of structuring an Appetite statement
  • Selecting predictive and relevant KRIs
  • Case study: Examples of Appetite Statements and metrics for Top Operational risks
  • Live poll and discussion: RCSA experience, successes and challenges

14:30 -15:00 Day 1 Wrap-up

  • Conclusions and key take-aways from the day
  • Any remaining questions answered
  • Make a Difference: Next steps and building an individual action plan

Agenda – Day 2

9:00 – 10:20 Workshop 1: Focus on Third-party Risk Management

  • Why third-party risk management is increasingly important for Operational risk teams
  • Understanding regulatory expectations: DORA, EBA Guidelines
  • Aiming for success: effective structure, roles and responsibilities
  • ​Examples of different types of arrangement (material outsourcing vs procurement)
  • Conducting thematic risk review: what to look out for
  • Live poll and discussion: Third-party risk management

10:40 – 12:00 Workshop 2: Managing Change: Risk Assessment of Change Initiatives

  • Change risk as a top Operational risk
  • Case studies: examining how change fails, and its impacts
  • Approach to conducting change risk assessments
  • Template and process: step-by-step guide to change assessments
  • Live poll and discussion: managing change successfully

12:50 – 14:10 Workshop 3: Hot Topics in Operational risk management

  • Spotlight on Generative AI: understanding risks and opportunities
  • Top Operational risks: group discussion
  • Operational risk priorities 2024 and beyond: Finding an optimum balance
  • Live poll and group work: trends, successes and challenges of the future

14:30 -15:00 Day 2 Wrap-up

  • Conclusions and key take-aways from the day
  • Any remaining questions answered
  • Make a Difference: Next steps and building an individual action plan


Both days: Members of IIA: NOK 8 100, non-members NOK 9 100
One day: Members of IIA: NOK 4 500, non-members NOK 5 500

The first day we will cover fundamental components and if you are well known within the operational risk management field, you can join day two only. You also have the option of participating in day one only.


You will receive 6 CPE for CRMA, CIA and Diplomert internrevisor for each day.

Trainer Bio

Elena Pykhova is award-winning risk expert, author, international trainer and educator. She is the founder of a boutique risk management consultancy, The OpRisk company, specializing in risk transformation, board and executive level advice on effective operational and enterprise risk management strategy, design and implementation. Elena is an author of a best-selling book, Operational Risk Management in Financial Services: A Practical Guide to Establishing Effective Solutions. She is a renowned educator, running public and in-house training courses in the UK and internationally for world-leading organisations including the London Stock Exchange Group Academy, the Moller Center Cambridge University, and the Institute of Internal Auditors. Elena is a thought leader, influencer and founder of a prominent industry think tank, the Best Practice Operational Risk Forum. She is a former Director for Education at the Institute of Operational Risk and chair of the Expert Panel for the Association of Foreign Banks. Passionate about the discipline, she founded her training and consulting practice after 20 years of experience in senior roles at Fortune 500 companies.