Developing and Implementing Key Risk Indicators |Smart

Overview

Why Attend

When developing Key Risk Indicators, or KRIs, knowledge of the organization and its operations—plus knowledge of its potential risks, threats, and vulnerabilities—are the essential starting points. Without an understanding of the organization, it is difficult to identify where it may be at risk. This course provides an internal and external view of Key Risk Indicators and how to map them to critical operational aspects of the organization to identify how those key attributes could be disrupted and effectively managed to ensure sustainable growth.

Course Methodology

This course is highly interactive, with participants engaged in identifying risks, threats, and vulnerabilities the organization faces and developing action plans to improve a firm's ability to mitigate such events. Participants will rank the business attributes based on how important they are to the organization and the risks based on how much damage they could do. They will then link them, as well as the metrics and review processes, using relevant exercises, tools, templates, and case studies.

Course Objectives

By the end of the course, participants will be able to:

Explain key components of effective KRI capability and how to integrate them into the overall Enterprise Risk Management framework
Identify and design an effective and robust set of relevant KRIs, and rank them based on their criticality to the business
Develop strong KRIs with efficient processes related to data collection, recording, and reporting
Set appropriate thresholds to reflect risk appetite/tolerance, and report them in a meaningful way
Develop critical skills to carry out KRI identification workshops with management teams

Target Audience

This course is ideal for operational risk managers, risk analysts or officers, risk modeling experts, risk appetite and culture advocates, risk reporting officers, internal auditors, and compliance officers.

Target Competencies

Identification of Key Risk Indicators
Risk management
Risk analysis
Risk compliance
Risk avoidance
Risk management
Risk reporting
Business process analysis
Risk assessment and quantification
Business understanding

Course Outline

KRIs as Part of an ERM Framework
- Revisiting risks and controls — what are we “indicating”?
- The risk bow tie: Causes, events, and impacts
- A risk framework – where do KRIs fit?
- The KRI framework
- KRI roles and responsibilities
- Case study: Developing a risk bow tie
Defining and Identifying KRIs
- What is a KRI? Comparing KRIs, KCIs , and KPIs
- Defining the objectives of KRIs
- What are we trying to track?
- Identifying KRIs
- Identifying key risks: How?
  - Mapping key risks to identify “red flags” and “symptoms”
  - Identifying KRIs around the key risks
  - Criteria to assess the quality of KRIs
  - KRIs to track ERM performance
- Types of KRIs
  - Single KRIs
  - Composite KRIs
  - Qualitative KRIs
  - Generic and specific KRIs
  - Leading and lagging KRIs
  - Case Study: Identifying KRIs
The KRI Library and Assessing the Quality of a KRI
- Purpose of a KRI library
- Maintaining and improving the library
- Using the library
- Assessing the quality of KRIs
  - Strength of relationship to what is being tracked
  - The importance of risk velocity
  - Leading or lagging
  - Ease of collection
Setting Up KRIs and the KRI Process
- Linking KRIs to risk and controls
- Setting KRI thresholds
- Determining collection and reporting frequency
- Assigning responsibility
- Case study: Setting up KRIs
- The KRI process
  - Collecting KRIs
  - Evaluating and scoring KRIs
  - Investigating and explaining KRIs
  - Escalation, follow up, and workflow
  - Case Study: Conducting a KRI collection procedure
Reporting and Using KRIs
- Types of reports: Aggregated dashboards and drill down reports
- Using KRIs in an overall risk profile
  - As a risk monitoring tool
  - As a feedback and incentive tool
  - As a management tool
  - As an input into the risk quantification and capital modeling
  - As a benchmarking tool
- KRIs in an integrated risk management process
- Linking KRIs to risk and controls self-assessment, compliance, incident management, and action tracking

Schedule & Fees

2026 Schedule & Fees

1 - 5 Nov, 2026

English

Per participant USD 2,900

1 - 5 Nov, 2026

Arabic

Per participant USD 2,900

15 - 19 Nov, 2026

English

Per participant USD 2,900

15 - 19 Nov, 2026

Arabic

Per participant USD 2,900

2027 Schedule & Fees

31 Jan - 4 Feb, 2027

English

Per participant USD 2,900

31 Jan - 4 Feb, 2027

Arabic

Per participant USD 2,900

14 - 18 Feb, 2027

English

Per participant USD 2,900

14 - 18 Feb, 2027

Arabic

Per participant USD 2,900

2 - 6 May, 2027

English

Per participant USD 2,900

2 - 6 May, 2027

Arabic

Per participant USD 2,900

16 - 20 May, 2027

English

Per participant USD 2,900

16 - 20 May, 2027

Arabic

Per participant USD 2,900

1 - 5 Aug, 2027

English

Per participant USD 2,900

1 - 5 Aug, 2027

Arabic

Per participant USD 2,900

15 - 19 Aug, 2027

English

Per participant USD 2,900

15 - 19 Aug, 2027

Arabic

Per participant USD 2,900

31 Oct - 4 Nov, 2027

English

Per participant USD 2,900

31 Oct - 4 Nov, 2027

Arabic

Per participant USD 2,900

14 - 18 Nov, 2027

English

Per participant USD 2,900

14 - 18 Nov, 2027

Arabic

Per participant USD 2,900