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30 September 2017 to 4 November 2017 From 30 September to 4 November 2017, RMI conducted an open-enrolment training course on NUS RMI Specialist Diploma in Operational Risk Management for 18 banking professionals in Singapore. Operational risk is inherent in all banking products, activities, processes, and systems, and the effective management of this risk is a fundamental element of a bank’s risk management programme. Thus, this programme aimed to equip participants with an insight into Singapore’s financial system as well as the legislative and regulatory structure. In view of the holistic approach to financial risk management, the course also gave them an understanding into how operational risk management relates to credit risk, market risk, liquidity risk and reputational risk. The program in Operational Risk Management was comprised of three modules. The first module included topics such as overview of the Singapore financial system, legislative and regulatory structure governing the financial services industry, the function and role of Monetary Authority of Singapore (MAS), and current industry trends from a global perspective. The second module paid a heavier focus on risk management principles, operational risk management framework and process, risk culture and risk awareness, operational risk appetite and tolerance, and operational risk controls, tools and methodologies. The third and final module featured topics such as, operational risk mitigation, operational risk loss/event management, operational risk capital and operational risk profiling, reporting and management. The course, delivered by Patricia Jalleh, a senior operational risk manager with more than 25 years banking experience, has been positively received by the class. “The course is very interesting and provides good insight into the topic of ORM with practical and useful case studies,” shared a participant from a local bank.
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