Managing Operational Risk – What every professional needs to know

By Stanley Epstein

"Operational risk is probably one of the most misunderstood risks in the whole of the risk spectrum.

While risks such as “credit risk”, “liquidity risk”, “market risk” are easily understood by business and other professionals, “operational risk” is a poor relation when it comes to grasping what it really means.

The starting point, of course, is to define what we mean when we speak about operational risk.

My favourite definition is that formulated by the “Basel Committee on Banking Supervision” in its “Principles for the Sound Management of Operational Risk” (BIS - June 2011).

The definition reads;

“Operational risk is defined as the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events.” 

 

To read the rest of this article please visit ILLUMEO's Blog >> HERE

Blockchain Unmasked

By Stanley Epstein

"For many of us, as we advance further and further into this new digital world, we are assailed by a plethora of new technologies, new terms, new ways of thinking and new ways of processing transactions.

One of these technologies is the blockchain.

Few people really understand what the blockchain is, but banks, financial institutions, IT organizations, consultants and even the general public are all abuzz about blockchain technology and how it is going to revolutionize finance."

To read the rest of this article please visit ILLUMEO's Blog >> HERE

On-line CPE Certified Training Courses

Citadel Advantage is proud to be associated with Illumeo, a provider of continuing education courses and webinars.

If you are one of the millions of certified professionals in the corporate world, it's critical to you, your current job, and your future career aspirations to remain certified and continuously improve your skills. For managers it’s increasingly important to hire and retain certified professionals in critical roles.

Illumeo delivers continuing education courses and webinars of the highest quality, for over two dozen of the most popular certification types for corporate professionals, at an incredibly affordable price.

Citadel Advantage is a providing a growing range of professional courses that are being marketed under the Illumeo brand.

Most of our Citadel Advantage’s Illumeo courses carry CPE credits for CPA, CPD, CMA, CFE, CGFM, CIA, CRMA.

Citadel Advantage’s two Principal Associates, Richard Barr and Stanley Epstein are both certified Illumeo instructors.

We list below titles of our growing range of on-line courses presented through Illumeo.

If you register through ourselves we are able to offer you a great 10% discount on course fees. Just use Coupon Code Citadel10 when registering.

For more information on each course and to start the registration process simply click on the course title.

Key Elements in Managing Operational Risk

Understanding the Blockchain

Understanding Supply Chain Finance

Business Continuity Planning Risk vs Reward 

Enterprise Risk Management (ERM) - A Comparison of COSO & ISO

Foreign Corrupt Practices Act Compliance

International Trade - Part 1: Trade Finance Instruments

International Trade - Part 2 - Payment Instruments

International Trade - Part 3 – International Payment Systems

International Trade - Part 4 - Supply Chain Finance  

Principles for the Management of Operational Risk in the Financial Industry

Understanding FinTech – Part 1 (FinTech Basics) 

Understanding FinTech – Part 2 (Financial Service Functions & Innovation Clusters) 

Understanding FinTech – Part 3 (Blockchain, Bitcoin & Other Cryptocurrencies) 

Understanding Operational Risk in Financial Institutions

Globalization, Finance and the Supply Chain 

New On-line Courses from Citadel Advantage

INTERNATIONAL TRADE FINANCE (a full course in four parts)

Although the full course is divided into four parts, which together form a complete picture of international trade, its various instruments, its operations and its financing, each part may be
studied as a stand-alone unit.

This course will be of especial interest to banking, business, and import/export professionals who wish to expand their knowledge base as well as enhance their expertise and advance their careers in or gain a deeper understanding of the international trade finance arena.

The course provides a comprehensive foundation for understanding all aspects of International Trade Finance in a global context, covering the key principles, concepts, infrastructures, practices, issues, and current developments.
Part 1 - Trade Finance Instruments

Part 2 - Payment Instruments

Part 3 - International Payment Systems
 
Part 4 - Supply Chain Finance 

Please click on the Part Title for more information

NEW On-line Course from Citadel Advantage

INTERNATIONAL TRADE - PART 2: PAYMENT INSTRUMENTS

Join Citadel Advantage’s Stanley Epstein in this ILLUMEO on-demand training course.

This course provides a comprehensive foundation for understanding all aspects of International Trade in a global context. This is the first of four-part collection, covering the key principles, concepts, infrastructures, practices, issues, and current developments in the world of International Trade Finance.

Part 2 of the course covers:

• The key concern in International Trade in providing a safe conduit for the transfer of ownership of the shipment in return for payment.
• A comprehensive examination of the different payment Instruments that may be used to settle International Trade transactions, including the process, the advantages/disadvantages and the risks attached to each.

 For Details & Registrations

On-Line Training - Understanding FinTech

From start-ups in California, New York, London, Europe, the Middle East, Asia and Africa, entrepreneurs are applying their creativity and technical ingenuity all along the financial services value chain.

The current wave of innovation promises a revolution in the production and consumption of financial services.

Aptly combining the words “financial” and “technology” the FinTech revolution promises changes that will democratize financial services.

 

Part 1 - FinTech Basics
Part 2 - Financial Service Functions & Innovation Clusters
Part 3 - Blockchain, Bitcoin & Other Cryptocurrencies

The FinTech revolution holds much promise. This three part course is a basic primer to understanding FinTech in all its forms and guises and presented in conjunction with Illumeo by Citadel Advantage Principal Associate Stanley Epstein.

For Details & Registrations please click on the course title.

On Demand Course – Understanding Operational Risk in Financial Institutions

Join Citadel Advantage’s Stanley Epstein in this ILLUMEO on-demand training course.

This course examines each of the seven operational risks categories, and provides a detailed explanation on each risk explaining what it is, what type of events are involved, why these activities pose a risk, and provides participants with clear practical examples.

For Details & Registrations CLICK HERE