€340 - €1,025
Live Online
18 CPD Units | 18 Hours
HRDA Subsidised
The EIMF Live Online Learning Experience
Participants will receive access to the recorded sessions of the course.
EIMF subject-matter experts deliver engaging and interactive courses across a broad spectrum of areas, that can be enjoyed in the comfort of your own chosen environment. Read more
Course Overview
This course provides a comprehensive and practical understanding of operational risk management within financial institutions, focusing on the environments in which risks arise, and the frameworks used to manage them.
Participants will explore governance structures, risk identification and assessment methodologies, incident management processes, and regulatory expectations, including Basel standards. Through real-life examples and practical tools, the course equips professionals with the skills required to effectively identify, assess, mitigate, monitor, and report operational risks while strengthening organisational resilience and supporting sound risk governance.
This learning manual relates to syllabus version 6.0 and will cover examinations from 11 November 2025 to 10 November 2026.
Why Choose the CISI Managing Operational Risk in Financial Institutions?
Specialist qualification – covers all key aspects of compliance and can be taken as a stand-alone qualification or as part of the Investment Operations Certificate (IOC)
Globally portable – addresses international issues and best practice techniques
Free CISI Student membership – become associated with a Chartered professional body and take advantage of an extensive range of benefits
Access to Associate membership and ACSI designatory letters
Training Objectives
By the end of the programme, participants will have an international understanding of:
Explain the concept, scope, and key drivers of operational risk in financial institutions, including its relationship to broader enterprise risk management (ERM).
Identify and distinguish key sources and types of operational risk events, including people, processes, systems, external events, fraud, system failures, and conduct risk.
Describe key regulatory frameworks and expectations governing operational risk (e.g. Basel framework) and explain their relevance to financial institutions.
Explain the structure and purpose of operational risk governance models, including the Three Lines framework, and clarify related roles and responsibilities.
Explain the importance of operational resilience and its role in strengthening risk management frameworks.
Apply operational risk tools and methodologies, including Risk and Control Self-Assessments (RCSAs), Key Risk Indicators (KRIs), and scenario analysis.
Conduct basic operational risk assessments, including identifying, analysing, and documenting risks in line with organisational and regulatory expectations.
Rank and evaluate risks based on likelihood and impact using established risk assessment frameworks.
Develop and interpret risk assessment outputs, including scenario analysis results and incident investigation findings.
Organise and prepare operational risk documentation, reporting, and records to support monitoring and compliance requirements.
Evaluate and select appropriate risk mitigation and control strategies in line with organisational risk appetite.
Justify and defend risk treatment decisions, including the effectiveness of internal controls during reviews or audits.
Correlate operational risk findings with other risk categories within the broader ERM framework to support informed decision-making.
Training Outline
The Operating Environment
Definition and scope of operational risk
Internal and external drivers of operational risk
Industry trends and emerging vulnerabilities
Digital transformation and technology risk
Third-party and outsourcing risks
Operational resilience concepts
Organisational Considerations
Governance structure and the “Three Lines” model
Roles and responsibilities across the institution
Risk culture and behaviour
Communication and escalation pathways
Integration with enterprise risk management (ERM)
Skills, competencies, and staffing considerations
Operational Risk Management
Overview of operational risk frameworks
Risk identification techniques
Risk and control self-assessment (RCSA)
Key Risk Indicators (KRIs)
Scenario analysis and stress testing
Control design and effectiveness evaluation
Approaches for risk mitigation and acceptance
Risk Management Process
Risk identification → assessment → mitigation → monitoring → reporting
Tools and methodologies for assessment
Workflow and governance of the risk cycle
Documentation, evidence, and audit expectations
Integration with strategy, change management, and product development
Operational Risk Incidents
What constitutes an operational risk event
Incident detection, capture, and classification
Root cause analysis and lessons learned
Loss data collection and reporting
Near misses and their value
Case studies: fraud, IT failures, conduct breaches, third-party failures
Regulation of Operational Risk
Basel II/III/IV requirements and capital frameworks
Supervisory expectations (e.g., OCC, PRA, ECB)
Operational Resilience regulations
Requirements for reporting, governance, and documentation
The shift to the Standardised Measurement Approach (SMA)
Emerging regulatory themes (cyber risk, third-party oversight, resilience testing)
Who Should Attend
The programme is suitable for:
Risk Managers
Directors
CCOs
Head / Deputy Heads
Senior Managers
Regulatory compliance officers
AML / KYC Officers
Chief legal officers
Legal advisors
Internal auditors
Training Style
The programme is delivered through a highly interactive and practical approach that combines theory with real-world application. Participants are encouraged to actively engage throughout the course through discussions, case studies and practical exercises. Teaching Techniques include:
Instructor presentations
Interactive discussions
Practical case studies
Scenario analysis
Regulatory examples
Knowledge quizzes
Questions and answers
Continuous feedback
Participants will also have access to 40 online revision questions with answers, which can be ideal for candidates pursuing the respective exam.
CPD Recognition
This programme may be approved for up to 18 CPD units in Law. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
Optional Exam
Managing Operational Risk in Financial Institutions is a separate Level 4 qualification that builds on the knowledge covered in the IOC Operational Risk unit. It is designed for practitioners seeking a more advanced understanding of operational risk management.
It also serves as a progression route to the Level 6 Diploma in Investment Operations. In fact, the Diploma is achieved by passing:
Operational Risk (IOC unit),
Managing Operational Risk in Financial Institutions (Level 4), and
· Global Operations Management (*Global Operations Management exam is withdrawn after the Winter 2026 session. It is strongly recommended the final sitting on 26 November 2026 is for resits only and not for first time candidates.
The exam is Multiple Choice Computer-Based, consisting of 40 questions and lasts 1 hour. The pass mark is 70%
The CISI one- time membership processing fee and the one- off charge for the first qualification are not included in the above package price.
These fees are subject to change at any time at CISI’s discretion and without prior notice. Accordingly, EIMF will charge candidates based on the applicable fees in effect at the time of registration.
Any discount applies only to the course fee.
Exam and membership fees are subject to change at any time at CISI’s discretion and without prior notice. Accordingly, EIMF will charge candidates based on the applicable fees in effect at the time of registration.
Any discount applies only to the course fee and not to the exam fee. Any special promotions/discounts apply exclusively to the course training fee. The exam fee is not eligible for discounts.
To learn more about the Qualification click here.
Chartered Institute for Securities & Investment (CISI)
The CISI is the leading professional body for securities, investment, wealth and financial planning professionals. Formed in 1992 by London Stock Exchange practitioners, they have a global community of circa 45,000 members in 104 countries. The CISI sets standards of professional excellence, providing qualifications and promoting the highest level of competence.
CISI and EIMF
The CISI and EIMF have a long-lasting collaboration in organising training and development events and promoting opportunities that are of value to the CISI members as well as to securities, investment, wealth and financial planning professionals. The CISI has awarded the EIMF the “Authorised Training Provider” status, which allows EIMF to offer quality preparation courses for participants pursuing the CISI certificates, such as the CISI Global Financial Compliance.
Chartered Institute for Securities & Investment (CISI)
The CISI is the leading professional body for securities, investment, wealth and financial planning professionals. Formed in 1992 by London Stock Exchange practitioners, they have a global community of circa 45,000 members in 104 countries. The CISI sets standards of professional excellence, providing qualifications and promoting the highest level of competence.
CISI Membership at EIMF
As a member of a Chartered professional body you will benefit from an enhanced status in the financial services sector globally. You will become a part of an organisation which holds the respect of governments and firms around the world, and can communicate with the public on an authoritative and clear level. Find more information
In-house Training
For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.
Panayiotis Antoniou
Panayiotis Antoniou is a Managing Director at the Global Risk Management and Prudential department of Complyport. He is a professional with 25 years experience in the Financial Sector. He is currently the managing Director of Complyport Global Risk Management and Prudential, a large Advisory Group specialising in prudential risk and Compliance matters for Banks, Investment Firms, Investment Funds and Payment Institutions. Panayiotis is a holder of CySEC’s AML and Advanced Certificates, a Certified Anti-Money Laundering Specialist (CAMS), a Chartered MCSI at the Chartered Institute of Securities and Investments (CISI), a member of the Project Management Institute (PMI). He is also a HRDA accredited trainer. Panayiotis holds a Bachelor degree in Computer Science from State University of New York, USA, a Master’s degree in Information Systems from Virginia Tech, USA as a Fulbright Scholar, a Master’s in Business Administration (MBA) and a Master’s in Public Sector Management (MPSM).
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