| COURSE : CERTIFIED HOSPITALITY RISK MANAGEMENT PROFESSIONAL | |
|---|---|
| Course Overview | Changes in markets, techniques, technologies, and products have altered the landscape of Operations and fueled the explosive development of Operational Risk management. The regulators of financial and public companies are demanding a far greater level of disclosure and awareness by directors about the risks they manage and the effectiveness of the controls they have in place to reduce or mitigate these risks. There is also a greater realization that a major source of earnings volatility can be attributed to the way a firm operates and not “financial risk”. All these changes have triggered the need for an efficient Operational Risk Management system in organizations. |
| Training Duration | Total Training Hours : 12 Hours Training Duration : 1 Week Total Training Days : 2 Working Days |
| Training Schedules | Weekdays (Sunday to Thursday) WeekEnds (Friday & Saturday) |
| Certifications: | 1) Certificate from Laurels Training Institute, Attested by Knowledge & Human Development Authority (KHDA) government of Dubai, UAE OPTIONAL 2) Certificate from American Institute of Professional Studies (AIPS) from USA (After 15 Days of course Completion which will couriered to the attendees office address) |
| Tests | Yes |
| Learning Aids | Yes |
| Course Material | Hard & Soft Copies of Study Material |
| Language of Instruction | English |
| Instructor Helpline | Yes 1. Email 2. Social Media (For Emergency requirements) |
| Registration Requirements | 1. Passport Copy 2. Curriculum Vitae 3. Passport size photographs 4. Course Fee |
| Mode of Payment: | Cash / Cheque / Credit Card / Bank Transfer. |
| Eligibility Criteria (Who should attend this training) | • The basic qualification is high school completion certificate. • Proficiency in English language to understand, read and write. |
| Course Benefits | 1. Position to fully understand the need for the creation of operational risk frameworks and their impact on the strategy and processes 2.To develop the understanding of operational risk management necessary to manage, comment and understand an institution’s own risk management plans and reports 3.To provide a practical and realistic approach to the implementing of an effective, best-practice operational risk management programme and the creation of the necessary risk culture |
| Course Contents / Outline | Introduction to Operational Risk Objectives Defining operational risk Significance of operational risk Addressing operational risk Measuring and modeling operational risk Basic Concepts Objectives Loss events Risk Factors, loss types and event/ factor controllability Dependencies between Risk Factors and Events Attribution of Loss Operational Risk in Various Hotels Introduction and Spectrum of Risks Accounting policies, costing and pricing model Developing objectives and identifying risks Objectives Risk Management Agenda Risk Management Targets Risk Management Organization and Policies Benchmarking Internal Processes and Resources Identifying Process and Resource Risks Identifying Risk Factors Identifying and Categorizing Loss Events Estimating potential losses – Data Objectives Challenges to Operational Risk analysis General measurement techniques Historical analysis Subjective risk assessment Estimating potential losses – Loss distributions Objectives Overview of probability distributions Building a distribution Probability distributions Estimating risk factors Choosing an event distribution Operational Risk database Analyzing risks Objectives Aggregating risks Monte Carlo loss simulation Risk management alternatives Analyzing loss events Analyzing risky processes and resources Analyzing risk factors Loss prediction and prevention Objectives Loss prediction Loss prevention Process reengineering and work restructuring Product redesign and automation Human factors engineering ERP and reliability maintenance Loss control Objectives Introduction Diagnostic controls and Inventory management Redundant systems and boundary systems Computer security and physical security management Internal and external audit Loss reduction and risk avoidance Objectives Legal risk reduction and loss isolation Contingency Planning Crisis Management Risk avoidance Quality management Human resources management Organizational design, Culture and relationship management Risk financing Objectives Introduction Financial restructuring Asset-Liability Management Corporate diversification Insurance Self-Insurance Hedging using derivatives Contractual risk transfer Measurement framework ORM cycle Framework criteria and assumptions Current framework approaches Role of technology Enterprise-wide risk information systems Challenges to ERM Project Management for an ERM system Basic and causal models Objectives Operational Risk Management (ORM) model Top-down risk models Bottom-up risk models Selecting a risk model Causal models Security risk Systems design, implementation, and maintenance flaws Customer misuse of products and services |