EY to conduct training program on operational risk management

Monday, 2 December 2019 00:00 - - {{hitsCtrl.values.hits}}

From left: EY Sri Lanka Financial Services Partner Sanath Fernando, EY Sri Lanka Financial Accounting Advisory Service Partner/Principal Rajith Perera, and EY India Advisory Services Director Kailash Prabhu

Ernst & Young (EY) Sri Lanka will be hosting a training program on operational risk management (ORM) in an attempt to educate and equip the financial sector with ground-breaking techniques on proactive risk management. The program will be held on 5 December from 9 a.m. to 4 p.m. at Mövenpick Hotel, Colombo 3. This full-day training session will act as a catalyst in developing and deploying ORM measures in Sri Lanka, integrating risk management practices into processes, systems and culture. The event will be facilitated by EY Sri Lanka Financial Services Partner Sanath Fernando, who has 28 years of advisory and industry experience. EY Sri Lanka Financial Accounting Advisory Service Partner/Principal Rajith Perera, with hands-on experience in developing operational risk management frameworks for local as well as international clients, and EY India Advisory Services Director Kailash Prabhu, who has over 10 years of experience in operational risk management and enterprise risk management, will be delivering valuable speeches targeting the CROs, OR managers, chief financial officers, chief risk officers, finance managers, risk officers, credit managers, compliance officers, management consultants, and etc. In the present context, the financial sector – especially banks – have become increasingly aware of the need to manage risk at operations with measures being taken to develop sophisticated systems for controlling financial risk. Financial institutions have constantly failed at handling operational risk due to lack of proper training programs and much required techniques and knowledge in ORM. ORM is considered the nucleus of bank operations; identifying and mitigating operational risk is indispensable for the growth in the financial sector.

A timely response to ORM by EY, the training covers key components related to ORM from its evolution, capital measurement approaches as per Basel, qualitative criteria for SMA (RCSA, KRI, and LDM), ORM governance: three lines of defence to current trends in ORM, targeting the operational managers and operational risk managers from the financial sector. The program enables the participants to gain a clear understanding of implementing and furthering ORM initiatives and also exposes them to the latest ORM techniques.It is identified that effective ORM frameworks pave the way for effective and reliable operations. ORM has evolved to be a vital component in banks. At present, the financial sector, especially banks which integrate ORM techniques, are the ones which realise real financial benefits. Coupled with the latest technology, ORM caters to the reduction in losses from threats and exploits, lower cost compliance, and reduction in future potential damages. Interested applicants are required to register by confirming their participation with Thilini Perera by calling 011 5 578 859/011 5 578842 or emailing [email protected] and [email protected]