Margaret A Searle
Examines the information dimensions of the most common types of operational risk including: internal and external fraud, regulatory noncompliance, processing errors, information security breaches, and technology failures; practical application of operational risk frameworks where the intersection of people, information, processes, systems, and external events can lead to financial loss.
-Contextual introduction and definition of operational risk; -A risk based approach to information handling and analysis; -Examination of controls embodied in international professional risk management standards, including Committee of Sponsoring Organizations of the Treadway Commission (COSO), Sarbanes Oxley (SOX),and Control Objectives for Information and Related Technologies (COBIT) frameworks; -Exploration and application of operational risk tools, such as Safety and Soundness audit tools and the Business Impact Analysis (BIA), and business process analysis; -Analysis and discussion of unknown or un-communicated risks including discovery of unreported risk(s); communication failure of known risk conditions; -Mitigation of risks; -Weekly “Real World" case histories with discussion for part of each class; -Internationally-recognized experts present for first hour during seven of the ten classes.
Student learning goals
Upon successful completion of the course, students will be able to: -Assess the strength of operational risk controls in various organizations. -Assess the strength of operational risk controls in various organizations.
-Prepare executive summaries of risk problems undertaken through research and presentation.
-Apply concepts and processes included in an operational risk framework.
-Analyze existing control structures to identify gaps in operational risk programs.
-Discuss examples from both the public sector (government and nonprofits) and the private sector (business and industry).
General method of instruction
Lecture, discussion, guest speakers. See website, please.
Please check directly with Annie Searle for a syllabus.
Class assignments and grading