Operational risk is defined by the Bank for International Settlements as the "risk of loss resulting from inadequate or failed internal processes, people and systems or from external events." There are four exceptionally wide-ranging factors: internal processes, people, systems, or external events. To make them absolutely clear, the Bank for International Settlements has categorized them into seven distinct groupings that cover virtually every element of the operations of financial institutions outside of the credit and liquidity aspects.

This course examines each of the seven operational risk categories, and it provides a detailed explanation on each risk explaining what it is, what type of events are involved, why these activities pose a risk and provides participants with clear practical examples.

Operational risk is intrinsic in all banking products, all banking activities, all banking processes, and all banking systems. The effective management of all of these operational risks is a basic component of a bank’s risk management program.

This course is brought to you by Illumeo. Illumeo, incorporated in 2009, is revolutionizing the hide-bound world of corporate learning. Illumeo works with corporate professionals and organizations of all sizes to build the skills and capabilities that help everyone be an expert at their job. Based in Silicon Valley, CA, Illumeo serves thousands of corporations and corporate professionals across Finance, Accounting, Human Resources, Sales and Marketing. The platform offers assessments, industry-benchmarked competency analyses, hundreds of expert-developed courses, collaborative tools, and the ability for companies to self-publish internal courses that promote institutional knowledge retention and dissemination. Illumeo is the place for expertise management and we are dedicated to the proposition that everyone can be an expert at their job.