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Workshop
Financial Risk Management Bowtie Method

Price: €300

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€300

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Self study

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Approx. 9 hours to complete

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7 CPD hours

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Certificate of attendance

Instructor:

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Antonios I. Karpasitis

Chartered Insurer, Risk, Insurance, Business continuity, Business Managment, Strategy

Introduction to the class

The Bowtie is one of the techniques included in the ISO Risk Assessment Techniques (ISO31010) and one of the most popular approaches to assessing critical risks in any industry or business sector due to it. A bowtie diagram is a visual representation of risk. It is a useful tool for describing the pathways from the sources of risk to the consequences (outcomes) of risk events and their impact on the business. It is an excellent tool for reviewing controls and their effectiveness, for managing critical risks and carrying out risk management audits. Bowtie analysis simplifies the understanding of risk and the possible mitigation and control scenarios. Bowtie risk management covers the need for a systematic and structured way of managing risks and at the same time it is simple to apply and easy to communicate and understand by anyone. This practical workshop addresses the major financial risks faced by any business organisation with emphasis on financial institutions like banks, insurance companies, investment companies. The programme includes the development of bow tie diagrams for credit, market and financial risks which will have a practical application in the management of these risks in any financial organisation.

Who should attend?

  • C-Suite executives and directors

  • CEOs and other senior executives

  • CFOs and financial controlllers

  • Risk managers

  • Insurance brokers and intermediaries

  • Insurance underwriters and claims managers

  • Investment managers

  • Credit officers

  • Auditors and accountants

  • Internal auditors

  • AML and Compliance Officers

  • Lawyers

  • Actuaries

  • Safety Officers

This course includes:

  • 9 hours of self study including articles and presentations

  • Full lifetime access to learning material

  • Certificate of attendance

How it works?

Workshops take place on Hapeiron, an Interfima e-learning platform.

  1. Enroll to the class from this page

  2. After enrollment you'll receive a registration link to access the platform 

  3. Complete all learning material

  4. Get your certificate of attendance

Do you want this class in-house?

We can deliver this class in-house for your organization's employees.

CPD Recognition

The syllabus of this workshop is eligible for 7 CPD hours in Risk. 
Criteria and CPD hours are verified directly by your association, regulator or other bodies which you hold certification or membership.

What you will learn

By the end of the programme, participants will be able to:

  • Describe the risk management process

  • Describe the bow tie layout

  • Name and describe the constituent elements of a bow tie layout

  • Name and formulate hazards and events

  • Formulate threats and their root causes,  consequences and their impact

  • Formulate, describe and correlate preventive, detective and protective controls

  • Formulate and describe escalation factors and barriers

  • Develop integrated bow tie risk management diagrams for credit, market and liquidity risk

  • Identify, select, explain, justify and document preventive, detective and recovery controls

Introduction to risk management

  • The Risk Management process

  • Scope, Context, Criteria

  • Risk Assessment

  • Likelihood and consequences

  • The Risk Matrix

  • ALARP (As Low as Reasonably Practicable)

  • Risk Treatment

  • Risk reduction and controls

What is a bow tie diagram?

  • Applications of the bow tie risk assessment

  • Goals of the bow tie diagram

  • History of the bow tie

  • Advantages and limitations

  • The bow tie diagram

Describing:

  • Hazards and top events

  • Sources of risk

  • Threats and their root causes

  • Consequences and their impact

Identifying and describing barriers (controls)

  • Preventive barriers

  • Detective barriers

  • Recovery/Protective barriers

  • Hierarchy of controls

  • Escalating factors and escalating factor barriers

Practical examples/case studies

Construction of bow tie diagrams for credit, market and liquidity risks

Step 1 – Identifying and formulating credit, market and liquidity risks

  • Risk identification techniques

  • Describing the risk and top event

  • Risk statements

Step 2 – Identifying top events

  • Guidelines

  • Identifying credit, market and liquidity risk top events

Step 3 – Identifying threats credit, market and liquidity threats

  • Direct threats

  • Sufficient and independent threats

Step 4 – Identifying the consequences and impact of credit, market and liquidity risk

Step 5 – Identifying preventive controls

Step 6 – Identifying Detective and recovery controls

Step 7 – Identifying escalation factors and controls

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