Call us at +1-(510)-868-1040

Login Register

This webinar covers the prime international compliance standard for financial institutions worldwide in the management of operational risk. As such, it form the basis for local domestic standards/ best practice worldwide.

The principles of operational risk management in financial institutions, has been developed and refined over the past twenty years, by the Bank for International Settlements. These principles are an integral part of the “Basel Accords”, which is the continuing set of banking regulations (better known as Basel I, II and III and beyond), which provides recommendations on banking practice as it relates to the GRC aspects, specifically capital risk, market risk and operational risk.

Based on best industry practice and supervisory experience, these principles cover three all-embracing risk-management themes: governance, risk management and compliance.


  • Discover the operational risk management principles are and what they cover.
  • Examine the various implementation issues that are involved in putting each of these principles in place. 
  • Distinguish the different kinds of operational risks as well as their sub components.  
  • Find out what key elements are involved in managing operational risk.
  • Discover the three themes involved; governance, risk management and compliance and how they are interrelated.

This course represents a practical way in which to implement an effective operational risk management system as well as bringing participants up to speed on current best practice in the field of managing operational risk in financial institutions based on international standards. Not only will we examine the details of each of these principles, as well as taking an all-inclusive look and what needs to be done to implement them; we will complete our journey by examining the principles under the harsh light of an actual Case Study in the banking industry.


  • Role of the Bank for International Settlements (BIS)
  • The Basel Accord
  • Principles for the management of operational risk in financial institutions.
  • How to implement the BIS’s “Sound Practices for the Management and Supervision of Operational Risk”
  • Each of the 11 Principles are examined individually in terms of their; 
  • Content
  • Meaning 
  • Implementation factors
  • Responsibilities
  • Detailed banking case study which illustrates what happens in event of non-compliance . 

  • Financial Officers  
  • Risk Officers 
  • Internal Auditors 
  • Compliance Officers
  • Operational Risk Managers
  • Heads of business and operational departments
  • System developers involved with designing and building banking applications 
  • Staff with roles and responsibilities in risk/ operational risk in risk management departments, businesses and central departments.

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.

View all trainings by this speaker
 
  

Upcoming Webinars