Risk and Compliance study plan

Map the governance framework landscape: define the board, senior management, and three-lines-of-defense roles in your own words

Explain how laws, regulations, and industry standards interact with internal policy and how policy hierarchy resolves conflicts

Identify the core components of a compliance program and describe what each one is meant to prevent

Draft a one-page glossary of governance terms you will reuse all eight weeks

Describe how a risk appetite statement is set, approved, and cascaded into tolerances and limits

Distinguish risk appetite from risk capacity and risk tolerance with a worked example for each

Explain how compliance risk is identified from regulatory change and obligations mapping

Outline the elements of an effective compliance monitoring and testing program

Explain the purpose and structure of a compliance risk assessment and how it feeds the plan

Compare training, monitoring, testing, and audit as assurance activities and state when each is appropriate

Describe escalation paths, whistleblowing channels, and how a speak-up culture is evidenced

Summarize regulatory examination and supervisory expectations and how firms prepare for them

Rehearse recalling definitions and framework elements from memory without notes

Diagnose which governance sub-topics still produce wrong answers and restate the correct reasoning

Explain how regulatory change management connects to policy updates and control changes

Define risk, hazard, and uncertainty and classify risks by type, including strategic, operational, financial, and compliance

Explain the risk management process end to end from identification through treatment and monitoring

Distinguish inherent, residual, and target risk and compute residual risk from a simple control-effectiveness rating

Describe the purpose and mechanics of a risk register and a heat map

Compare the main treatment options (avoid, reduce, transfer, accept) and justify selection for a given scenario

Explain control design versus control operating effectiveness and how each is tested

Describe key risk indicators, thresholds, and how KRIs differ from KPIs

Outline incident capture, root-cause analysis, and lessons-learned feedback into the risk register

Integrate governance and risk by explaining how risk appetite drives control selection and assurance scope

Calculate residual risk and expected loss figures for short scenarios under time pressure

Interpret a risk report: state what a variance means, who owns it, and what escalation it triggers

Practice scenario questions that combine compliance obligations with risk treatment decisions

Retake full-length mixed practice and raise the score over your week 7 baseline

Re-teach your weakest five topics aloud in under three minutes each without notes

Consolidate a one-page memory sheet of formulas, definitions, and framework steps

Review the error log and confirm every listed item is now answered correctly twice