Summary

In financial services, the board of directors plays a critical role in the strategic oversight of Business Risk Assessments (BRAs). Its function is to ensure that risk management practices align with the organisational strategy, regulatory requirements and risk appetite. The board responsibilities include setting the organisation’s risk appetite and tolerance, approving the risk management framework, reviewing and challenging risk assessments, monitoring risk mitigation actions, supporting a risk-aware culture and ensuring ongoing compliance with regulatory requirements.

Several case studies are examined and analysed to illustrate and provide guidance and future templates.

This course is one of several courses within the Professional Certificate in Risk Management. If you wish to achieve this award, you must complete this course along with all other mandatory courses in the associated learning plan.

Audience

Designed for C-Suite executives in financial services, including CEOs, Chief Risk Officers (CROs), Chief Compliance Officers (CCOs) and Board members including NEDs. Also aspiring executives and senior managers.

Course Objectives

• Understand the purpose and scope of Business Risk Assessments (BRA) in financial services

• Identify key risk factors, including operational, financial, regulatory, and reputational risks

• Evaluate methodologies for conducting effective BRAs

• Recognise the role of senior leadership and the board in overseeing risk assessments

• Analyse case studies of failures linked to inadequate risk assessments

• Learn how to implement and monitor risk mitigation strategies

• Develop governance structures that support proactive risk management

Course Structure

• Section 1: Introduction to Business Risk Assessments (BRAs)

• Section 2: Methodologies for Conducting an Effective BRA

• Section 3: The Role of the Board and Senior Management in Risk Governance

• Section 4: Case Studies of Risk Assessment Failures

• Section 5: Implementing a Proactive Risk Management Culture

• Summary

• Knowledge Evaluation

Duration & CPD Hours

This course should take you between 60 and 90 minutes, depending on your pace of learning. Additionally, this course is accredited by The CPD Certification Service and carries 1.5 CPD hours.