2020 - Risk Management - Understanding Key Risk Indicators

OVERVIEW
Of the influential importance that risk assessment holds, measuring and depicting risks even before they occur can be of significant importance, especially in the financial industry. Key Risk Indicators (KRIs) are such measures and metrics that relate to specific risks and show a change in the likelihood or result of that particular risk occurring.
KRIs deliver an early warning signal to help identify potential events that may harm continuity of activity, operation, or a project. Using KRIs is an essential part of the risk management process. This webinar provides an introduction into understanding, developing and using KRIs in everyday business activities.
In this webinar, we will discuss the significance, nature, and types of KRIs. We will look at how to develop, evaluate, and implement KRIs following the organization’s risk culture and create strategies for effective reporting of risk indicators that lead to management action.
LEARNING OBJECTIVES
The underlying principles of ERM (Enterprise Risk Management)
What KRIs are and how they are used to anticipate potential future risk problems?
How to develop effective KRIs?
What source information does one use in developing KRIs?
KRI reporting and communication
How KRIs provide value/benefits to the organization?
WHY SHOULD YOU ATTEND
Understand the nature and types of preventive KRIs
Identify root causes and event drivers for each of your key risks
Quantify risk thresholds in line with risk appetite
Find out how indicators shape an organization’s risk culture
Decide strategies for effective reporting of risk indicators that lead to management action
Be able to discuss and evaluate the effectiveness of draft KRIs you have been considering for use in your organization
AREAS COVERED
Enterprise Risk Management (ERM)
Defining Key Risk Indicators (KRIs)
Developing effective KRIs
KRIs and proactive strategic risk management
Information sources for KRIs
KRI communication & reporting
KRI value proposition
WHO WILL BENEFIT?
All business owners
Risk Officers
Compliance Officers
Internal and External Auditors
Financial Controllers/Officers
Operations Managers
Treasurers
Board Members
Business Managers
Investment Managers
Bank/financial/insurance industry senior and middle management
Asset Managers
Broker/Dealers
Operational Risk Managers
General (Legal) Counsel
CFOs (Chief Financial Officers)
COO (Chief Operating Officers)
CRO (Chief Risk Officers)
SPEAKER
Stanley Epstein is a Principal Associate and Director of Citadel Advantage Ltd. Citadel Advantage works with banks, financial institutions and startups to make them safer and more profitable, through consulting and training in the banking and payments GRC (Governance, Risk Management and Compliance) areas.
Stanley has had more than 40 years of banking and IT experience, 33 of which were with the Standard Bank of South Africa.
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