The Center for Staff Development (CSD) in collaboration with Risk Management Office (RMO) at SQU organized Operational Risk Workshop from 23 to 25 October 2018. Operational Risk has been at the forefront of the Risk Management and became the essential role of Risk Management during the recent years. The risk of loss resulting from the inadequate process/systems, failure process or systems, fraudulent activities of people but better visualize from the execution of an institution’s business functions/activities. Operational Risk persist in every organization regardless of the structure and size, complexity from large scale into small domestic scale. In the recent years, there is a huge focus on the process of managing the Operational Risk.
An effort to review the necessary information on Operation Risk has been made during the three-day workshop. The speaker was Dr. Ariane Chapelle, Director of Ariane Chapelle Consulting Ltd. who is a fellow member of the Institute of Operational Risk (FIOR) and Member of Institute of Risk Management (MIRM). Dr. Ariane is active in Operational Risk since the year 2001. He is an honorary reader at University College London on Operational Risk and expert in Operational Risk to the PRA, FCA, and Bank of England. Dr. Ariane Chapelle also held the position of Head of Operational Risk Management at ING group SWE (Sweden) and Head of Insight & Operational Risk Framework Analyst at Lloyds Banking Group (UK). The session ended with discussion and felicitated by Dr. Salim Al Harthi, Director of Risk Management Office.
As many as people including staff and students from all the SQU colleges and units participated in the Public lecture.Dr. Al Harthi thanked the CSD in organizing this event and hoped that the event would help the SQU community in the future. “The Risk Management Office is committed, will continue to strive many more workshops on Operational risk management in the future, he said. We also would like to recognize the hard work, contributions and commitment made by all the participants in the workshop. The Risk Management Office and Center for Development did a creditable job in steering this massive effort all along the way through their absolute commitment to quality, technical accuracy, and dedication to the professional practice of Operational Risk”, he said.