Financial Risk Management: The Bowtie Method

- Οργάνωση/ Διοίκηση/ Ηγεσία - Λογιστικά/ Έλεγχος/ Φορολογικά

30 Μαΐου 2024 09:00 04 Ιουν 2024 12:45
Αγγλικά
7 ώρες ( 2 μέρες )
Financial Risk Management: The Bowtie Method

ΠΕΡΙΓΡΑΦΗ

Course Overview 
Bowtie is one of the techniques included in the ISO Risk Assessment Techniques (ISO31010) and one of the most popular approaches to managing critical risks in any industry or business sector.
A bowtie diagram is a visual representation of risk. It is a useful tool for describing the pathways from the sources of risk to the consequences (outcomes) of risk events and their impact on the business. It is an excellent tool for reviewing controls and their effectiveness, for managing critical risks and carrying out risk management audits.


Bowtie analysis simplifies the understanding of risk and the possible mitigation and control scenarios.
Bowtie risk management covers the need for a systematic and structured way of managing risks and at the same time it is simple to apply and easy to communicate and understand by anyone.


This practical workshop addresses the major financial risks faced by any business organisation with emphasis on financial institutions like banks, insurance companies, investment companies.  The programme includes the development of bow tie diagrams for credit, market and financial risks which will have a practical application in the management of these risks in any financial organisation.

ΣΚΟΠΟΣ ΣΕΜΙΝΑΡΙΟΥ

By the end of the programme, participants will be able to:

  • Describe the risk management process
  • Describe the bow tie layout
  • Name and describe the constituent elements of a bow tie layout
  • Name and formulate hazards and events (Hazards and top events)
  • Formulate threats and their root causes, consequences and their impact
  • Formulate, describe and correlate preventive, detective and protective controls
  • Formulate and describe escalation factors and barriers
  • Develop integrated bow tie risk management diagrams for credit, market and liquidity risk
  • Identify, select, explain, justify and document preventive, detective and recovery controls

ΣΕ ΠΟΙΟΥΣ ΑΠΕΥΘΥΝΕΤΑΙ

The programme is ideal for:

  • CEO
  • CFO
  • Risk managers
  • Investment managers
  • Credit officers
  • Auditors, accountants
  • Internal auditors
  • AMLCO
  • Lawyer
  • Actuaries

ΠΕΡΙΣΣΟΤΕΡΕΣ ΠΛΗΡΟΦΟΡΙΕΣ

Training Outline

Introduction to risk management

  • The Risk Management process
  • Scope, Context, Criteria
  • Risk Assessment
  • Likelihood and consequences
  • The Risk Matrix
  • ALARP (As Low as Reasonably Practicable)
  • Risk Treatment
  • Risk reduction and controls

What is a bow tie diagram

  • Applications of the bow tie risk assessment
  • Goals of the bow tie diagram
  • History of the bow tie
  • Advantages and limitations

The bow tie diagram

Describing:

  • Hazards and top events
  • Sources of risk
  • Threats and their root causes
  • Consequences and their impact

Identifying and describing barriers (controls)

  • Preventive barriers
  • Detective barriers
  • Recovery/Protective barriers
  • Hierarchy of controls
  • Escalating factors and escalating factor barriers

Construction of bow tie diagrams for credit, market and liquidity risks

Step 1 – Identifying and formulating credit, market and liquidity risks

  • Risk identification techniques
  • Describing the risk and top event
  • Risk statements

Step 2 – Identifying top events

  • Guidelines
  • Identifying credit, market and liquidity risk top events

Step 3 – Identifying threats credit, market and liquidity threats

  • Direct threats
  • Sufficient and independent threats
  • Practical examples/case studies

Step 4 – Identifying the consequences and impact of credit, market and liquidity risk

Practical examples/case studies

Step 5 – Identifying preventive controls

Step 6 – Identifying Detective and recovery controls

Practical examples/case studies

Step 7 – Identifying escalation factors and controls


Industry Expert | Antonis Karpasitis

Antonis has over 40 years of international professional experience in non-life and life insurance with specialization in construction and large infrastructure projects insurance programs. Managed the insurance programs of multi-million-dollar projects such as airports, highways, sports centres, housing complexes, dams residential and office buildings etc. in the UAE, Saudi Arabia, Libya and Cyprus. He has over twenty years of life insurance general management experience in Cyprus and Central Europe with large multinational insurers.

Holds a bachelor’s degree in business from SUNY and an Executive Development Diploma from the Wharton School of the University of Pennsylvania. He holds the title of Chartered Insurer, he is Associate in Risk Management with the Insurance Institute of America, and a Fellow of the Life Management Institute. He is a certified risk management professional with the Federation of European Risk Management Associations (FERMA) and a PECB certified ISO 31000 Lead Risk Manager. He is also a certified trainer with the Human Resources Development Authority (AnAD) of Cyprus.


CPD Recognition

The syllabus of the Certificate may be approved for up to 7 CPD units in Risk. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.

Πληροφορίες Εκπαιδευτή
Αντώνιος Καρπασίτης - Chartered Insurer, Risk, Insurance, Business continuity, Business Managment, Strategy

Antonis has over 40 years of international professional experience in non-life and life insurance with specialization in construction and large infrastructure projects insurance programs. Managed the insurance programs of multi-million-dollar projects such as airports, highways, sports centres, housing complexes, dams residential and office buildings etc. in the UAE, Saudi Arabia, Libya and Cyprus. He has over twenty years of life insurance general management experience in Cyprus and Central Europe with large multinational insurers. Holds a bachelor’s degree in business from SUNY and an Executive Development Diploma from the Wharton School of the University of Pennsylvania. He holds the title of Chartered Insurer, he is Associate in Risk Management with the Insurance Institute of America, and a Fellow of the Life Management Institute. He is a certified risk management professional with the Federation of European Risk Management Associations (FERMA) and a PECB certified ISO 31000 Lead Risk Manager. He is also a certified trainer with the Human Resources Development Authority (AnAD) of Cyprus.

Αναλυτικό Κόστος Σεμιναρίου
  • € 220.00
  • € 0.00
  • € 41.80
  • € 220.00
ΠΡΟΓΡΑΜΜΑ ΣΕΜΙΝΑΡΙΟΥ

Πέμπτη - 30 Μαΐου 2024

Ώρα

09:00 - 12:45

Τοποθεσία:

OnLine Virtual Classroom

Τρίτη - 04 Ιουν 2024

Ώρα

09:00 - 12:45

Τοποθεσία:

OnLine Virtual Classroom

Εκδήλωση Ενδιαφέροντος : Financial Risk Management: The Bowtie Method

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