Enterprise risk management (ERM) can be viewed as a broad framework that unifies the many varied parts of central banking functions, process and policies. ERM provides a logical structure to link these areas together to form an integrated whole. In the process, ERM addresses critical issues such as operational risk, governance, business continuity planning, financial risk in reserves management and reputational risk in central banking.

Objectives: The Course enabled participants to apply critical components under the Enterprise Risk Management Framework to identify and manage operational, financial, reputational and policy risks of a central bank in accordance with  risk management practices and methodologies. At the end of this learning event, the participants were able to: (i) identify operational, financial, reputational and policy risks faced by central banks relating to the mandate and role of central banks; (ii) describe ERM and governance in central banks’ risk management; (iii) use risk management tools (e.g. risk profiling, hear map) to identify, manage and control operational risks; and (iv) analyse best practices, methodologies and approaches to mitigate risks; and (v) apply enterprise risk management methodologies using action planning approach for implementation in central banks.

Resource Persons: The faculty of resource persons comprised instructors and technical experts from the Bank for International Settlements (BIS), Banque de France, Bank Negara Malaysia, Bank of Thailand, Hong Kong Monetary Authority and University of Indonesia.

Target Group: The participants comprised middle to senior level officers of central banks/monetary authorities whose principal duties are to manage operational, financial, reputational and policy risks of their respective institutions. A total of 38 participants representing 13 institutions from 13 economies attended the Course.