The fundamentals of risk culture and risk management

Groupe cible

The training course can be followed by anyone interested in gaining foundational knowledge on risk culture and risk management in the financial sector.

Connaissances préalables

Basic level training: this training requires no prior knowledge and covers the basics of the subject.

Programme

CONTENT

COMING SOON: This E-learning will be available from the end of May.

• Introduction to risk culture
  • What is risk culture?
    • Definition, key elements and the differences between a strong and a weak risk culture
  • The importance of risk culture in financial institutions
    • Risk culture as a driver of organizational resilience and stability
    • The role of risk culture in preventing financial crises and compliance breaches
    • Links between risk culture, reputation, and stakeholder trust
  • How risk culture shapes decision-making and behaviour
    • Examples of how a strong risk culture influences day-to-day operations
    • The role of leadership in shaping and maintaining a positive risk culture
    • Common challenges and how to address them
• Basic principles of risk management
  • Introduction to risk management
    • Definition and purpose of risk management
    • The risk management lifecycle (identification, assessment, mitigation, monitoring)
  • Key risk types and their impact:
    • Market risk, operational risk, credit risk
    • Other relevant risk types:
      • Liquidity risk, reputational risk, and ESG-related risks
      • Emerging risks in the financial sector
      • Conduct risk
• Building a strong risk culture & risk response
  • Best practices for embedding risk culture
    
    • Encouraging transparency, communication, and accountability
    • Training and awareness initiatives to reinforce risk culture
  • Encourage proactive risk behaviour
    • Promoting a “speak-up” culture and psychological safety
    • Creating mechanisms for reporting and addressing risks early
  • Responding to identified risks
    • Frameworks for responding to risks in common scenarios
    • Steps for mitigating risks effectively and minimizing impact

PRACTICAL INFORMATION

• This E-learning will be available from the end of May.
• Duration: 1 hour
• Course material: interactive module
• Language: This training will be given in English
• CPD hours: This E-learning includes an online test consisting of multiple-choice questions. CPD hours will only be granted if you pass the test. You are entitled to 2 attempts to pass the test. If you do not pass (result lower than 60%), CPD hours will not be granted for this (sub)module. We therefore recommend that you take the test only when you are sure you master the subject matter.

Méthodologie

An ‘E-learning’ is 100% self-study. You log in individually on the MyFA learning platform and process, at your own pace, learning content that is provided to you via an interactive presentation. You can follow this online training wherever, whenever and as often as you want. The teaching material consists of a digital format with text, video, images, animations, test questions and/or references to relevant documents and/or websites.