Professional Certificate in Conduct Risk, Culture and Operational Risk Management (PRIMIA)

UCD and PRMIA awards

 

The Professional Certificate in Conduct Risk, Culture and Operational Risk Management is offered by LIA’s academic education partner The Institute of Banking which is a recognised college of UCD. Successful participants will be awarded the Professional Certificate in Operational Risk Management by UCD. This is a level 8 qualification on the National Framework of Qualifications and carries 15 ECTS (European Credit Transfer and Accumulation System) credits. Successful participants will also be awarded the globally recognised PRMIA Operational Risk Manager Certificate.

PRMIA is globally recognised as a leading educator of risk management professionals and is active in nearly every major financial centre worldwide with 50,000+ members represented in over 65 countries. Details on the PRMIA Global Operational Risk Certificate award are available here.

The programme is a unique and specialist risk management programme for those working in the financial services industry. The programme was designed in conjunction with operational risk and conduct risk professionals working in financial services.

The programme is designed to provide a deep and practical understanding of the key operational risks and conduct risks facing financial services professionals in Ireland today and the tools to identify, measure and mitigate those risks to improve business performance. The programme is a progression opportunity for those who have completed the Professional Diploma in Financial Advice.

 

Programme Structure

 

Professional Certificate in Conduct Risk, Cultureand Operational Risk Management consists of two modules, Operational Risk Management Practices and Banking Risk Management Framework, Culture and Conduct Risk. The two modules will be examinable by a mix of continuous assessment and written, essay style questions.

 

Closing dates

The sittings of the modules over our Academic Year for 2016/17 and the close off dates are as follows:

  • January 2017 exams: Friday, 21 September 2016
  • May 2017 exams: Friday 20 January 2017
  • September 2017 exams(Resit Only): Friday 19 May 2017

Course Aims

The Professional Certificate in Conduct Risk, Culture and Operational Risk Management (PRIMIA) will provide you with:

  • Global best practice tools for the identification, assessment, measurement and management of operational risks and conduct risks
  • A deep and practical understanding of the requirements and responsibilities of operational risk and conduct risk management
  • A thorough understanding of key practical and relevant operational risks facing lending professionals in Ireland today including inter alia Financial Crime Prevention / AML/CFT/ KYC/, external and internal fraud, information security, IT resilience, cybercrime, outsourcing, business continuity planning, data quality, data protection, impact on capital and other practical areas
  • Knowledge and skills to capture, report and investigate operational risk events and conduct risk events
  • An understanding of how to produce meaningful Risk MI including Key Risk Indicator (KRI) data and trend analysis, and how to implement operational risk appetite and conduct risk appetite
  • An understanding of how to manage an operational and conduct risk assessment programme and apply it in your own workplace
  • An advanced ability to blend theory and practice in operational and conduct risk management to improve business performance
  • Enhanced business judgement, critical analysis and problem solving skills.


Course Modules

Operational Risk Management Practices

€550
  • Operational risk defined
  • The importance of operational risk and the Probability Risk
  • and Impact SysteM (PRISM)
  • The differences between operational risk and other types
  • of risk
  • Recent failures in operational risk
  • Operational risk basics
  • Three lines of defence
  • Operational risk taxonomies
  • Operational risk management frameworks
  • Risk capacity
  • Risk appetite statements
  • Risk policies
  • Risk pricing and capital
  • Risk information, Key Risk Indicators (KRIs) reporting and
  • KRI framework
  • Risk assessment
  • Risk management and action plans
  • Risk modelling
  • Insurance mitigation.

Examinations

  • Combination of continuous assessment (10%)
  • Three-hour exam at the end of the term (90%)
  • The pass mark is 40% in line with UCD academic policy

Risk Management Framework, Culture & Conduct Risk

€495
  • Definition of conduct risk
  • How does conduct risk transpire?
  • Application to retail and wholesale markets
  • Conduct risk as defined by the FCA and what lies at its
  • core i.e. seeking the best outcome for the customer
  • Drivers/causes of conduct risk
  • Constituents of conduct risk including behavioural
  • economics
  • Conduct risk frameworks and its relationship with the
  • overall banking risk framework
  • Conduct risk appetite statements
  • Conduct risk policies and common metrics for assessing
  • conduct risk performance in an organisation
  • How conduct risk relates to operational risk
  • The difference between conduct risk and compliance
  • Conduct risk impacts on customers, on employees, the
  • financial institution and on markets (positive/negative)
  • How ethical behaviours and decisions can improve
  • customer outcomes
  • Applying the theory to a number of real life Irish and UK
  • examples using case studies
  • Risk governance
  • People, roles and responsibilities
  • The Board
  • The CRO
  • Wider reporting
  • Systems and documentation
  • Risk management process
  • Risk culture
  • Leadership and risk culture
  • The role of the risk management function in risk culture
  • The place of other staff in risk culture
  • Evaluating risk culture.

Examinations

  • Two-hour exam at the end of the term
  • The pass mark is 40% in line with UCD academic policy