Central Banking Operational Risk Management
Management of operational risk at central banks has grown in importance. Many central banks have increased the scope of their ‘second line’ operational risk functions. This reflects a growing recognition following the financial crisis that central banks have a desire to minimise risk, but this is balanced against the need, in some circumstances, to adopt policies that carry a significant amount of operational risk.
The resilience and continuity of operations is often managed in alongside with operational risk. Central banks are often responsible for critical infrastructure, helping to ensure the stability of the financial system; and they play a central role in national policy setting, including in times of crisis. Helping to deliver a high level of operational resilience is a key output of risk management.
This Course will give participants the opportunity to review trends in those areas, discuss challenges and identify ongoing best practice. It will likely cover the three lines of defense risk model and where the operational risk and business continuity/resilience functions are located in a central bank’s governance structure; the risk taxonomy; continuity and resilience planning as well as critical incident (crisis management). We expect about two thirds of the event will be devoted to operational risk and one third to business continuity/resilience planning.
Target group:
This course is aimed at heads and senior managers of central bank operational risk, business continuity and resilience functions, and those tasked with establishing such functions.