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Oversight and Management of Operational Risk

Explains the principal roles for board of directors and senior leaders when establishing an operational risk governance program. Identifies the importance of effective challenge by the board, risk culture and appetite, three lines of defense, and methods for measuring operational losses, and definition of economic capital. Covers the criteria for key risk indicator (KRI) selection.

Reviewed: June 2018 (no updates necessary)

What You'll Learn

After successfully completing this course, you will be able to:

  • Describe the principles of effective operational risk governance and the roles of the board and senior management in overseeing operational risk programs
  • Identify the elements of an effective operational risk governance program
  • Describe the three lines of defense approach and its role in establishing effective management and oversight of operational risk across the organization
  • Identify the methods used in measuring operational risk
  • Describe criteria for key risk indicator (KRI) selection and best practices in monitoring and reporting operational risk


Risk and internal audit professionals; third-party service providers and state/federal examiners; first-line risk and operations managers with responsibilities for operational risk management, including implementing, managing, monitoring, reporting, auditing and/or supporting an effective operational risk management program, policies and procedures.

Course Credits

ABA Professional Certifications: 1.25 CAFP, CERP, CRCM, CSOP​

ABA Certificates​: This course applies to the ABA Certificate in Operational Risk Management

Your Instructor

Cliff Rossi
Professor of the Practice and Executive in Residence at the Robert H. Smith School of Business, University of Maryland

Cliff Rossi was Managing Director and Chief Risk Officer for Citigroup's Consumer Lending Group where he was responsible for overseeing the risk of a $300+B global portfolio of mortgage, home equity, student loans and auto loans, with 700 employees under his direction.


​Questions? Please contact ABA Training​ for more information.



Purchase for a Team
To license this course to your bank for multiple learners, please contact ABA Training.


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