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UdemyFinance & AccountingPaid courseIntermediate levelCertificate

Operational Risks Management ORM (Udemy.com)

Operational Risks Management ORM Case Studies for Risk Management, Compliance, Audit, IS Security, Banking Professionals

Created by: Governance Risk and Compliance GRC by GRC Professional

Last updated July 2023

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What you will learn

  • You will learn about Risks and different types of Risks
  • You will learn about the Operational Risk Management ORM Principles and Framework
  • You will learn about Losses and Avoidable Losses related to ORM
  • You will learn about the Operational Risks, Events, Losses and Exposures
  • You will learn about operational risk management tools and techniques
  • You will learn about 7 Different Case Studies of Operational Losses and Exposures etc.
  • You will learn how Artificial Intelligence (AI) may help in performing effective Operational Risk Assessment in a bank

How it compares

Against the other 376 rated Udemy courses in Finance & Accounting on CourseDuck:

  • Rating4.4 out of 5higher than 28% of them
  • Reviews3,611#43 of 377 by number of reviews
  • Length2.2 hoursshorter than 75% of them
  • Last updatedJuly 2023earlier than 71% of them

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Course Description

Risk is inherent in every process and system that a company use, Due to the complexity of business operations, advancement of technology, increased customer expectations, and complex regulatory requirements the identification and management of operational risks have become a challenge for companies and organizations. 

On an overall basis, due to the weak operational risk management practices, the institutions lose millions of dollars each year.

Operational Risks are the most significant risks that companies and institutions are exposed to. Most of the business failures that occurred in the past are due to mismanagement of Operational Risks, Events, and Losses. Companies and institutions are, therefore, focused on managing their respective operational risks and this is now a regulatory requirement as well for banks, financial insinuations, and corporate organizations.

WHY OPERATIONAL RISK MANAGEMENT IS IMPORTANT?

Operational Risk Management ORM is relevant for almost all of the companies and organizations such as banks, insurance companies, brokerage houses, investment companies, FMCGs, Pharmaceuticals, Leasing Companies, Heath Sector Companies, Service Industries, etc. These organizations spend millions of dollars on a yearly basis, to identify and manage their operational risks, to remain competitive and operational in the industry. Operational Risk Management is linked with Enterprise Risk Management ERM, therefore, all big consultancy firms in the world provide operational risk advisory services, to companies. Operational risk consultants charge, millions of dollars as consultancy fees, from these companies.


WHAT WILL YOU LEARN?

This course is divided into two Modules:

In this course, you will learn about core areas of Operational Risk Management ORM such as:


Module 1: OPERATIONAL RISKS, EVENTS, LOSSES, EXPOSURES, EXAMPLE ETC.

- Risk and adverse impact concepts,

- Operational risks, components, and examples,

- Categories of operational risk,

- Operational loss events, types, and examples,

- Operational loss exposures,

- Avoidable operational losses

- Operational loss exposure avoidance by companies

- Operational risk management ORM

Module 2:  7 DIFFERENT CASE STUDIES RELATED TO OPERATIONAL RISK

- Case Study 1: A Biscuit Manufacturing Company - Operational Loss Exposures and Losses

- Case Study 2:  Hijack of Bank's Core Application System and Operational Losses

- Case Study 3:  Luxurious Car Manufacturing Company and Operational Losses

- Case Study 4: Bank's Regulatory Requirements (Regulatory Risks) and Operational Losses

- Case Study 5: Risk Appetite Level - A Technology Company

- Case Study 6: Internal Fraud in a Bank and Operational Losses

- Case Study 7 - Use of Artificial Intelligence (AI) by the ORM team, to Perform Operational Risk Assessment


In this course, you will also learn special risk management terminologies used in ORM.


BENEFITS OF ATTENDING THIS COURSE:

By attending this course you will:

- be able to understand, how companies face Operational Risks and Calculate their exposures Assessment and Management

- be able to talk confidently with risk management professionals and consultants regarding Operational risks and related domains

- be able to work in consultancy firms or organizations in their risk management departments, especially ORM departments

- get a certificate of completion of this course

- be able to perform research and analysis on operational risks and management cases 

- be able to pursue a career progression in operational risk management.


WHO SHOULD ATTEND THIS COURSE?

This course should be attended by:

  • Risk management professionals

  • Operational risk heads or managers

  • Compliance professionals

  • IS Security professionals

  • Bankers

  • Risk Advisors and consulting firms

  • Branch managers / Operation managers

  • Internal auditors

  • Internal controls professionals

  • CFA / FRM / CA / ACCA / CAMS or Finance students and

  • Others who want to learn risk management and its components

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Instructor Details

Hello everyone, This is Osman.

I am a Governance, Risk, and Compliance GRC Professional with over 20 years of practical work experience. I have worked in Financial Services including, Banks, FinTechs, and Big 4 Advisory Firms. 


Positions I Served in Financial Institutions, Banks, and Other Organizations;

I served as the Head of AML/CFT Compliance, Head of Operational Risk Management, Head of Enterprise Risk Management ERM Implementation, and Head of Internal Controls.

I have worked with Financial Institutions, MSBs, VASPs, FinTechs, Open Banking Institutions, FMCGs, and Service Companies where I helped them align their policies,  procedures, structures, and internal controls with requirements laid down under COSO ERM Framework, ISO 31000 Standard, AML/CFT Regulations, FATF Recommendations, OECD Guidelines, ISO 27001 Standard, NIST Cybersecurity Framework, and other applicable regulatory requirements. 

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Reviews

4.4

3,611 ratings on Udemy

Select a bar to show only those reviews.Select the bar again to show every rating.

By Vanessa Austin-Claverie on 4/7/2026

I've had a very positive experience taking this course so far. The content is highly relevant to my role in due diligence and compliance, particularly in strengthening my understanding of operational risk framework, loss scenarios, and risk mitigation strategies.

By Randal Thomas on 3/3/2026

Great overview of operationalizing risk management in a practical manner. The different case scenarios drove home how the concepts translate to various industries, which we do not often. The examples and explanations were easy to follow. Great job putting together this body of work!

By Larry Basa on 1/5/2026

I truly enjoyed this ORM training. It helped me see operational risks from a more practical and realistic perspective, and I found myself connecting the lessons directly to situations I handle at work. The examples and explanations made the concepts easy to relate to, and I walked away feeling more confident in identifying and managing risks in my role. Overall, it was a very valuable learning experience for me.

By Anonymized User on 11/2/2025

Setelah mengikuti pelatihan ini, saya berkomitmen untuk mengimplementasikan beberapa hal berikut: Membangun kerangka kerja ORM yang sistematis di unit kerja, meliputi proses identifikasi, analisis, mitigasi, dan pelaporan risiko. Mengembangkan Key Risk Indicators (KRIs) untuk memantau potensi risiko secara proaktif sebelum terjadi kerugian. Mengintegrasikan manajemen risiko dengan proses bisnis utama, agar setiap keputusan operasional mempertimbangkan faktor risiko. Meningkatkan kesadaran risiko (risk awareness) melalui pelatihan internal dan komunikasi yang konsisten. Memanfaatkan teknologi pendukung seperti software risk management untuk dokumentasi, pelaporan, dan pemantauan risiko secara berkelanjutan. Dengan penerapan prinsip-prinsip ini, saya yakin dapat membantu organisasi memperkuat pengendalian internal, meningkatkan efisiensi operasional, serta meminimalkan potensi kerugian akibat risiko operasional yang tidak terkelola dengan baik.

By Lakshmi Prasanna Suresh Bavanala on 5/19/2025

Helps to understand ORM very clearly from a begginer perspective.A detailed and very informative session. The behavior of AI is explained in the case study. Along with it a small demo or pictorial representation of how the AI screening is done could more beneficial.

By Fatimah Yousef Albueisa on 5/17/2025

I benefited greatly from the Risk Management course, as it enhanced my understanding of identifying, assessing, and mitigating risks. It directly supports my role in the GRC field by strengthening my ability to align risk strategies with governance and compliance objectives.

By Dumisani Sibanda on 4/10/2025

I thoroughly enjoyed this course on Operational Risk Management. The instructor's teaching style was excellent, making complex concepts easy to understand through clear explanations and practical examples. The use of real-world scenarios to illustrate different aspects of operational risk management was particularly helpful in deepening my understanding of the subject. Thank you for delivering such a valuable and well-structured learning experience! Please add notes on your future courses.

By Shonette Kruger on 3/19/2024

this course was very relevant and made sense to my current role. Risks, Controls and identifying how to close and mitigate risk stood out . People, system and process risk is what I deal with daily and this just helps put into perspective what else to look at thanks , great insights

By Lidiya Yaneva on 11/17/2023

In my opinion this course is appropriate for children in school, and not at all for bank professionals. There is nothing about Basel standards for operational risk and the related fundamental principles of ORM or about the standardized approach to measure operational risk. The case studies in the main section are not real cases and are appropriate for children to understand the concept of risk.

By Anonymized User on 11/14/2023

I think it's a very good introductory overview, with plenty of case study examples. I feel that some acronyms could be explained in more detail and there could be some resource questions and answers to assess risk appetite. These would be additions, rather than faults. Thanks for the introduction!

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Overall Score : 88 / 100