Risk and Control Self Assessment
Course Number: RCSA1
Course Code: n/a
Explains the risk and control self assessment (RCSA) process and its role in a bank’s risk culture. Convers establishing the primary objectives of the RCSA process, identifying risks and appropriate control environment, determining relative priorities, and the overall purpose and benefits of an RCSA.
After completing this course, students will be able to:
-Define operational risk, identify control frameworks, and describe the purpose and benefits of conducting a risk and control self-assessment (RCSA)
-Identify considerations for effective implementation of the RCSA
-Describe approaches for assessing and prioritizing risks
-Describe methods for managing and controlling risks
-Identify techniques and resources to gather data, perform the RCSA, and monitor and report results
Audience: 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.