Advanced Operational Risk Management in Financial Services

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.

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.

Assessment


Assessment is a combination of continuous assessment and end of trimester exams. The pass mark is 40% in all modules in line with UCD academic policy.

Duration: Varies

Delivery is online.

Each 10 ECTS module comprises of up to 30 delivery hours per trimester (i.e. up to 10 evenings).

Fees


•01 Risk Governance, Culture, Business and Enterprise Risk Management (10 ECTS) €1,100



•02 Operational Risk and Capital Markets (5 ECTS) €550



•03 Strategic Operational Risk, Conduct Risk and Reputational Risk Management (10 ECTS) €1,100



•04 Alert Models and Operational Risk Management (5 ECTS) €550

Contact Provider for next start date.

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.