FoRM 9 - Continual Improvement of Risk Management Course

Risk management needs to be continuously improved through learning and experience. It is vital that a risk management framework is updated as regulations change, risks are not static and best practices emerge.

Continuous improvement is at the centre of any robust risk management programme. Therefore, it can be incorporated into each step of the Management of Risk framework.

In our Continual Improvement of Risk Management course, you'll learn about what continuous improvement is, what its four principles are and how to improve your risk culture.

About this Course

Available as part of our Risk Management Library.

Learning objectives

Recognise the benefits of continuous improvement in risk management
Appreciate how continual improvement relates to the wider Management of Risk (MoR) framework
Distinguish between the four principles of continuous improvement
Recognise roles and responsibilities for continuous improvement using the three lines of defence (3LOD) model
Take appropriate action to improve our risk culture and strengthen our risk management framework

Course Contents

Welcome

- Learning objectives
- How to complete this course

What is continuous improvement?

The Management of Risk framework

- You decide: True or false?

Supporting principles of continuous improvement

Principle one: Identifying continuous improvements

- What does this mean for us?
- Scenario: Elena's annual review

Principle two: Adhering to the lessons learnt process

- What does this mean for us?
- Capturing information
- Scenario: The phishing attack

Principle three: Usining process or capability maturity models

Principle four: Improving our approach to risk management

- Scenario: Rohit's improvement plan

Financial services regulation & continuous improvement

- What are your obligations?

The Three Lines of Defence (3LoD) model

- Board-level responsibilities
- The audit and risk committee's responsibilities
- Senior management responsibilities
- You decide: Recognising roles and responsibilities
- Key questions: The first two lines of defence
- Key questions: Third line of defence
- You decide: Recognising roles and responsibilities

The importance of risk culture

- Scenario: Rohit's risk culture

Summary

Affirmation

Assessment

Course Specifications

Structure

Approximately 40-minute long e-learning course followed by a 10-question assessment.

Audience

Suitable for all staff - examples and interactivities designed for staff at all levels. No previous knowledge or experience is required.

Design

SHARD-compliant, responsive display on all devices, accessibility on screen readers, visual design controlled via a client style sheet.

Compatibility

All Windows, Mac OSX, iOS, Android (Flash-free for mobile compatibility). AICC and SCORM 1.2-compliant, suitable for both hosted and deployed SCORM or AICC.