Of the influential importance that risk assessment holds, measuring and depicting risks even before they occur can be of significant importance, especially in the financial industry. Key Risk Indicators (KRIs) are such measures and metrics that relate to specific risks and show a change in the likelihood or result of that particular risk occurring.
KRIs deliver an early warning signal to help identify potential events that may harm continuity of activity, operation, or a project. Using KRIs is an essential part of the risk management process. This webinar provides an introduction into understanding, developing and using KRIs in everyday business activities.
In this webinar, we will discuss the significance, nature, and types of KRIs. We will look at how to develop, evaluate, and implement KRIs following the organization’s risk culture and create strategies for effective reporting of risk indicators that lead to management action.
Stanley Epstein is a Principal Associate and Director of Citadel Advantage Ltd. Citadel Advantage works with banks, financial institutions and startups to make them safer and more profitable, through consulting and training in the banking and payments GRC (Governance, Risk Management and Compliance) areas.
Stanley has had more than 40 years of banking and IT experience, 33 of which were with the Standard Bank of South Africa. Additionally, over the years he has filled industry level roles, holding several key positions including that of Chairman of the Payment Association of South Africa (PASA) Risk Committee and representing South Africa at two sessions, in New York, of UNCITRAL (the United Nations Commission on International Trade Law).
He holds a Master Degree in Economics and a Bachelor of Commerce Degree (with Majors in Accounting and Economics), both from the University of South Africa, Pretoria.
Stanley has had extensive exposure to banking practice and banking operations in a number of countries including the USA, UK, South Africa, Europe and Australia. He has also acted as advisor to a number of central banks on payment systems, oversight, policy and payments risk issues.
More recently, he spent time in the high-tech sector as a payment systems designer and consultant to a global payments software developer.