Oversight and Management of Operational Risk


Explains the principal roles for board of directors and senior leaders when establishing an operational risk governance program. Identifies the importance of effective challege by the board, risk culture and appetite, three lines of defense, and methods for measuring operational losses, and definition of economic capital. Covers the criteria for key risk indicator (KRI) selection.


  • Describe the principles of effective operational risk governance and the roles of the board and senior management in overseeing operational risk programs
  • Identify the elements of an effective operational risk governance program
  • Describe the three lines of defense approach and its role in establishing effective management and oversigh of operational risk across the organization
  • Identify the methods used in measuring operational risk
  • Describe criteria for key risk indicator (KRI) selection and best practices in monitoring and reporting operational risk

Audience:  Risk and internal audit professionals; third-party service providers and state/federal examiners; first-line risk and operations managers with responsibilities for operational risk management, including implementing, managing, monitoring, reporting, auditing and/or supporting an effective operational risk management program, policies and procedures.

Related Training: ABA Certificate in Operational Risk Management

ABA Certifications: 1.5 CAFP, CRCM, CSOP

Your Instructor: Cliff Rossi, Professor of the Practice and Executive in Residence at the Robert H. Smith School of Business, University of Maryland

Cliff Rossi was Managing Director and Chief Risk Officer for Citigroup’s Consumer Lending Group where he was responsible for overseeing the risk of a $300+B global portfolio of mortgage, home equity, student loans and auto loans, with 700 employees under his direction.

The New York Bankers Association is a Local ABA Training Provider.

NYBA Professional Development at (212) 297-1679 or education@nyba.com.
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