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Advanced Operational Risk Management in Financial Services

Postgraduate
108100

Developed in conjunction with UCD College of Business the Professional Diploma in Advanced Operational Risk Management in Financial Services showcases extensive academic thinking and rigor as well as unique, real-world insights from our partners Bank of Ireland, Citi and Deloitte.

Award Name Special Purpose Diploma (Level 9 NFQ)
NFQ Classification Special Purpose
Awarding Body University College Dublin
NFQ Level Level 9 NFQ
Award Name NFQ Classification Awarding Body NFQ Level
Special Purpose Diploma (Level 9 NFQ) Special Purpose University College Dublin Level 9 NFQ
Course Provider:
Location:
Dublin City Centre
Attendance Options:
Part time, Online or Distance
Apply to:
Course provider
Number of credits:
NFQ 9, 30 ECTS

Duration

Duration: Varies
Delivery is online.
Each 10 ECTS module comprises of up to 30 delivery hours per trimester (i.e. up to 10 evenings).

Entry Requirements

Students seeking admission to the MSc Pathway or its constituent programmes must possess:

An Honours degree (second class honours grade 2 award or higher)
or
Admission many also be considered for experienced professionals who do not meet the admission requirements as set out above, where they can demonstrate knowledge through their work i.e. they have more than 5 years’ experience in a management role (to be considered on a case by case basis).

Professional body membership
You must be a current member of IOB, or become a member, to undertake this programme.

Careers / Further progression

Continuous Professional Development
If you hold an IOB designation or a designation managed by IOB, CPD hours may be awarded on successful completion of this programme.

PRMIA and their Associate Professional Risk Manager (aPRM) global certificate
Graduates can then apply directly to PRMIA to be awarded the globally recognised PRMIA Associate Professional Risk Manager (aPRM) global certificate. Completing this programme will allow you to stand out among your peers, providing you with a competitive advantage with colleagues, clients, and prospective employers by developing the necessary skills and experience needed to succeed in today’s dynamic work environment.

Course Web Page

Further information

Contact Provider for next start date.

01. Risk Governance, Culture, Business and Enterprise Risk Management (10 ECTS) €1,595
02. Operational Risk, Capital Markets and AI (10 ECTS) €1,595
03. Strategic Operational Conduct and Reputational Risk Management (10 ECTS) €1,595

Fees for IFS Skillnet member
01. Risk Governance, Culture, Business and Enterprise Risk Management (10 ECTS) €1195
02. Operational Risk, Capital Markets and AI (10 ECTS) €1195
03. Strategic Operational Conduct and Reputational Risk Management (10 ECTS) €1195

This programme has IFS Skillnet funding available for certain companies. You should check if your company has IFS Skillnet approval.

Please note funding available for modules running up until end of 2024 only, a new application will be required for modules running in 2025 if funding is available.

The availability of funding for modules in future trimesters will be confirmed in advance of their commencement.

Tax relief may be available to candidates who are paying fees in a personal capacity. Further information is available from www.revenue.ie.

Funding it subject to availability

Who is it for?
The Professional Diploma in Advanced Operational Risk Management in Financial Services has been designed in conjunction with operational risk management professionals, working in financial services and leading academics in operational risk management.

It will equip participants with a deep, practical understanding of operational risk management frameworks and measurement methodologies in financial institutions. This qualification is the benchmark operational risk qualification recognised in the Irish financial services industry sectors of the financial services industry.

Award
Professional Diploma in Advanced Operational Risk Management in Financial Services from UCD.
This is a level 9 qualification on the National Framework of Qualifications and carries 30 ECTS.

Modules and learning outcomes

Risk Governance, Culture, Business and Enterprise Risk Management - (NFQ level 9, 10 ECTS)
At the end of this module, you will be able to:

Discuss the theory and practice of enterprise risk management in the financial services sector

Describe and explain the theories of corporate governance and their evolution

Develop and propose to senior management an appropriate risk appetite framework for implementation in a financial services provider. Justify your proposal(s)

Evaluate selected international corporate governance models

Critically assess the cultural, leadership and behavioural aspects of corporate governance and the challenges facing boards in embedding a strong risk culture into financial service providers’ risk management, policies and processes

Develop the skills to independently identify, monitor and research resources on advances in ERM and corporate governance best practice.

Operational Risk, Capital Markets and AI (NFQ level 9, 10 ECTS)

At the end of this module, you will be able to:

Demonstrate what an AI informed alert model is and how one can deploy it to better mitigate fraud and misconduct

Critically evaluate AI algorithms, whether proprietorial or not, to elicit information from data to counter financial regulatory risk

Discuss critically the interaction between the capital markets and instances of misconduct in financial services

Critically appraise the role of organisational culture in determining misconduct in financial services

Critically evaluate ethical consequences of the use of AI in financial services.

Strategic Operational Conduct and Reputational Risk Management (NFQ level 9, 10 ECTS)
At the end of this module, you will be able to:

Explain the best practice principles of non-financial risk management, covering Operational, Strategic, Reputational and Conduct Risks

Outline to senior management and staff colleagues the bespoke frameworks for the management of key risks within the operational risk family, (to include Business Continuity, IT and Cyber Risk, Fraud, Data Aggregation, Outsourcing, AML) advising them of the rationale for the key differences between each risk framework

Adapt the principles from current best practice in non-financial risk management and develop appropriate strategies for the management of emerging risks (such as those arising from Climate and Fintech)

Apply an operational risk methodology to identify, appraise, and mitigate operational risks in a financial services provider’s business model

Advise senior management on the relationship between operational risks, regulatory capital and risk-based pricing in banking and the wider financial services sector and the rational for, and application of, operational risk capital calculation methodologies

Demonstrate the learning skills to support continuous self-directed personal and professional development.

Assessment is a combination of continuous assessment and end of trimester exams.

How you will benefit
This specialist programme will provide you with;

A deep and practical understanding of the requirements and responsibilities of operational risk management

Global best practice tools for the identification, assessment, measurement and management of operational risks

Insights into latest academic thinking in areas such AI applications to operational risk management and emerging machine learning models

A thorough understanding of the key practical and relevant operational risks facing financial services 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, how to produce meaningful risk MI including Key Risk Indicator (KRI) data and trend analysis, and how to implement operational risk appetite

Tools to identify, measure and mitigate risks and thereby improve business performance

Enhanced business judgement, critical analysis and problem-solving skills.

education@iob.ie
Phone: +353 (0)1 6116 500

Course Provider:
Location:
Dublin City Centre
Attendance Options:
Part time, Online or Distance
Apply to:
Course provider
Number of credits:
NFQ 9, 30 ECTS