ORM Designation case studies
ORM Designation · Put your knowledge to work in context.
The CORM (Certificate in Operational Risk Management) is a professional certification administered by the Institute of Operational Risk (IOR), a membership body that describes itself as promoting and developing the discipline of operational risk management, with chapters internationally. The certificate is aimed at practitioners who work in risk-related roles, or who want a structured grounding in operational risk as a discipline, and who want a recognised credential rather than only on-the-job experience. The ORM Designation case studies are 5 cases and about 3,290 words.
1RCSA Rating Dispute in Payments Operations
Westbridge Retail Bank operates a payments unit processing 2.1 million outbound transfers a month. In the latest RCSA, the first line rated control C-14 - manual reconciliation of three suspense accounts - as 'Strong' and the residual risk as 'Medium'.
729 words, about 4 min2KRI Breach: Recalibrate or Escalate?
Meridian Digital Bank's onboarding fraud team uses KRI-FR-02: 'percentage of high-risk onboarding alerts not reviewed within five business days'. Amber is set at 10%, red at 15%, and the current level is 23%.
632 words, about 3 min3Critical Outsourcing Concentration and Subcontractor Risk
Harbourline Insurance outsources 68% of motor claims handling to Vendor A. Vendor A subcontracts document processing to a centre in another country; the subcontractor is listed in the contract but was not separately assessed in the third-party risk register.
622 words, about 3 min4Near Miss, Loss Data and Scenario Analysis
Atlas Global Bank's treasury operations uses a spreadsheet of 1,800 standing settlement instructions (SSIs) to populate payment templates. In six weeks there were three failed settlements caused by outdated SSIs after counterparties changed custodians; each was caught by the counterparty or a manual check, so no loss was recorded.
668 words, about 3 min5Business Continuity Gap Before Call Centre Consolidation
Calder Wealth Management is consolidating two call centres into a new single site, moving 120 client order-taking staff in six weeks. The business impact analysis sets a maximum tolerable disruption of four hours and an RTO of four hours for client order taking; client contracts promise 99.5% availability and 'best efforts' business continuity.
639 words, about 3 min