How To Practically Prepare Risk Registers

Hello

Welcome to 'How To Practically Prepare Risk Register' Course.

Preparation of Risk Registers is an ongoing process in financial institutions and regulated entities.

Dedicated compliance and risk management teams collaborate and perform ongoing risk assessments to reflect the risks, processes, controls, risk scoring, risk prioritization, and controls mapping in Risk Registers.

• If you are working in Compliance Risk Management CRM, Operational Risk Management ORM, Data and Information Security Risk Management, Cybersecurity Risk Management, IT, Finance, Audit functions, HR, and Operations, then you must understand how Risk Registers are developed and deployed.

• Risk Managers, Compliance Managers, Cybersecurity and IT Managers working in Banks and NBFCs prepare Risk Registers as this is one of the key regulatory requirements of Central Banks/Regulators.

  • Bankers and professionals working in Non-Banking Financial Institutions NBFCs are required by Regulators such as the Reserve Bank of India RBI, Saudi SAMA, DFSA UAE, FinTrac Canada, FCA UK, FinCEN USA, SBP Pakistan, etc. to prepare and update Risk Registers regularly. 

• If you are a Compliance and Risk Management Consultant, then you also need to know How Risk Registers are prepared for different companies and clients. This course will boost your confidence to pitch your services to develop Risk registers for your current and prospective clients.   

OVERVIEW AND IMPORTANCE OF RISK REGISTERS

Why are the 'Risk Registers' Prepared by Institutions and Organizations

The development of a Risk register is globally mandated by enterprise governance frameworks such as ISO 31000, COSO, Basel Accords, cybersecurity and privacy standards such as ISO 27001, NIST Risk Management Framework RMF, GDPR, and financial crime regulations and FATF Recommendations. Together, these international frameworks and standards require institutions and organizations to formally document, track, and score their operational vulnerabilities to ensure proactive compliance.

What is a Risk Register, and Where Does It Actually Help

A Risk Register is a centralized repository or database used by financial institutions and other organizations to catalog, assess, score, track, and mitigate potential risks and threats that may derail their business, operations, and processes financial stability, or regulatory alignment. Risk Registers serve as a single source of truth for a particular process or activity.

Risk Registers help organizations and institutions to know, document, assess, and prioritize risks, based on a formal 'Risk Assessment Methodology and Matrix'.  In this course, you will learn about it in detail. 

COURSE TOPICS

In this course, you will learn various Risk Management concepts in addition to knowing 'How Risk Registers are Practically Prepared'.

Understanding Concepts of Risk, Types of Risks, Loss Events, etc

• Risk, Risk Incidents, Loss Events, and Adverse Impact

• Strategic and Process Level Risks and Controls with Examples

• Types of Enterprise Risks

• Concepts of Integration of Risks with Examples

• Significant and Insignificant Risks and Examples

• Categories of Risks and Inherent and Residual Risks

Risk Register Preparation

• Concept of 'Departments and Functions' in Risk Register Preparation

• Steps to Prepare Risk Register

• Examples - Risk Register Preparation - Practical Steps

• Understanding Risk Register 'Format, Its Components and Template'

• Example - Cyber Attack Risks and Risk Assessment documentation in Risk Register

• Key and Non-Key Risks Marking in Risk Register

  
  

  Risk Levels, Risk Assessment Methodology Matrix, and Its Application

• Understanding Risk Assessment Methodology Matrix - 5 by 5 Matrix

• Application of '5 by 5 Risk Assessment Matrix' - Taking a 'Critical Risk' as an Example

• Calculating 'Inherent' and 'Residual' Risks Scores and Ratings

• Reflecting Inherent and Residual Risk Scores and Levels in Risk Register

  
  

Practical Case Studies and Quiz

• Case Study - Cyber Security Function Risk Register Preparation

• Case Study - Understanding Steps involved in preparing 'Finance Department' Risk Register - Discussing Financial Risks, Applying Risk Matrix, Performing Risk Assessment, Calculating Risk Scores and Risk Levels, and Preparing Risk Register.

• Case Study - Performing Compliance Risk Assessment in an E-Commerce Company and understanding how a  Compliance Officer develops a 'Compliance Risk Register' for the particular process risks.

• Quiz - ERM and Risk Register Preparation Test

• Downloadable Resources - By attending this course, you will be able to download the Risk Assessment Methodology, 5 by 5 Matrix, and Risk Levels Files

Other Benefits of attending this course?

After attending this course, you will be able to:

- Understand and apply concepts of Risk Assessment and Risk Management

- Prepare Risk Registers for your company or department

- Confidently communicate with Risk Management professionals and consultants

- Apply for Enterprise Risk Management (ERM) jobs that require the preparation of risk registers or perform risk assessment

- Get a certificate of course completion

- Pursue a career progression in Risk Management or Enterprise Risk Management, etc.

Who is this course for:

• Enterprise Risk Management ERM, Risk Management and Compliance Professionals

• Information System IS Security, IS Audit, IT Professionals,  and Human Resource Professionals

• Business, Compliance, and Risk Management Consultants

• Operational Risk Managers, Compliance Risk Managers, Cybersecurity Risk Managers

• Finance, Audit, and Controls Professionals

• Business owners, Chief Executive Officers (CEO), Entrepreneurs, and Executives,

• Compliance, Finance, and Risk Management Students, such as CISA, CA, ACCA, CISM, CAMS, FRM, MBA, BBA, etc.

• Anyone who wants to learn Risk Management and the Process and Methodology to Prepare a Risk Register