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Operational Risk Management

RSK4801
2026
16 Lessons

Identifying, assessing and managing operational risk, from governance and risk appetite to indicators, scenarios, business continuity and culture, following one South African bank throughout. Follows Blunden & Thirlwell, Mastering Operational Risk (2nd ed., 2013).

Economic & Management Science

About this module

Identifying, assessing and managing operational risk, from governance and risk appetite to indicators, scenarios, business continuity and culture, following one South African bank throughout. Follows Blunden & Thirlwell, Mastering Operational Risk (2nd ed., 2013).

Lessons

16 lessons

  1. 1What Is Operational Risk?Defining it, why it's different, cause and effect, and the framework
  2. 2The Business Case for Operational Risk ManagementWhy good operational risk management pays its way
  3. 3GovernanceThree lines of defence, a framework, a policy and clear roles
  4. 4Operational Risk AppetiteHow much risk the board will take, how far it will stretch, and what it will spend on controls
  5. 5Risk and Control AssessmentFinding what could go wrong, and how well the controls hold
  6. 6Events and LossesLearning from what actually went wrong
  7. 7IndicatorsKey risk and control indicators, thresholds, and early warnings
  8. 8ReportingTurning risk data into decisions: the right reader, the right context, the right picture
  9. 9ModellingPutting a number on operational risk, and getting business value from it
  10. 10Stress Tests and ScenariosThinking the unthinkable, in a structured way
  11. 11Business ContinuityPlanning to survive the events you can't prevent
  12. 12InsuranceOperational risk financing: what to transfer, what to keep, and who really pays
  13. 13Internal Audit: The Third Line of DefenceIndependent assurance that the framework really works
  14. 14OutsourcingYou can hand over the work, never the responsibility
  15. 15Culture and People RiskA healthy risk culture, and controls for the people behind every risk
  16. 16Reputation RiskProtecting the good name that every operational failure puts at stake