Course description
Risks are inescapable in any business. If left unattended to and unresolved by tackling them at their very roots, they affect organizational performance – a summation of unflattering individual performances caused by these same risks. Hence, it is essential to be informed about risks, appropriate management approaches, and tools to address them and evade reoccurrences.
What does financial risk mean?
Financial risk arises from any loss or instability in the financial market that negatively affects a business’s ability to manage its loans and fulfill other financial obligations, resulting in financial loss. Financial risks can be divided into four broad categories; credit risk, which is associated with oversized debt from loans and credit cards; economic risk from micro and macroeconomic factors when doing business in another country; a specific risk that is faced by selected few companies on issues relating to capital and financial transactions, and operational risk that can arise from the business’s internal operations.
Upcoming start dates
Suitability - Who should attend?
Who Should Attend?
The Financial Risk, Root Cause Analysis and Problem Solving Training Course by Rcademy course matches business and other professionals in any managerial role looking to add risk and business problem identification and problem-solving to their skill toolbox. The following personnel can enroll for the course:
- Company presidents and leadership teams:tasked with management, administration, and the achievement of goals in a business
- Risk managers:responsible for managing the risks to an organization, its reputation, employees, customers, assets, and interests of investors and shareholders
- Financial managers and operators:tasked with the responsibility of managing financial risks
- Project managers:who identify, analyze, and respond to risks that may arise over the life cycle of their projects
- Quality management and assurance professionals:responsible for an organization meeting the compliance standards and working towards improvement in efficiency and efficacy of strategies
- Product managers:responsible for assessing and calling our risks in the several stages of a product lifecycle
- Designers and engineers:who need to consider risks in their projects
- Professionals:responsible for dealing with risks and are responsible for risk assessment procedures
- Students:interested in building any of the careers stated above
Outcome / Qualification etc.
The Financial Risk, Root Cause Analysis and Problem Solving Training Course by Rcademy aim to help participants achieve the following objectives:
- Develop the abilities necessary to recognize, comprehend, and manage diverse types of business and financial risk
- Identify the main factors to determine the actual root causes of problems
- Employ Root Cause Analysis and implement practical resolutions to business problems
- Locate, collect, and manage essential data for problem-solving
- Apply diverse problem-solving tools and approaches, and put the strategic problem-solving process to use
- Ensure a thorough risk management culture in the origination that contributes to the elimination of the recurrence of business problems
Training Course Content
Module 1: Financial Risks
- Definition of Risk
- Meaning of Financial Risk
- Types of Financial Risk – Credit Risk – Economic Risk – Specific Risk – Operational Risk
Module 2: Measurement of Financial Risks
- Debt-to-capital ratio
- Debt-to-Equity (D/E) ratio
- Interest coverage ratio
- Degree of Combined Leverage (DCL)
- Value at Risk (VaR)
- Conditional Value at Risk (CVaR)
Module 3: Risk Management
- Meaning of risk management
- Definition of risk management strategy
- Developing a risk management strategy
- Implementing a risk management strategy
Module 4: Risk Management Techniques
- Overview of risk management techniques
- The three risk management techniques – Assess the Risk – Manage the Risk – Monitor the Risk
Module 5: Root Cause Analysis
- Definition of Root Cause Analysis
- Types of Root Cause Analysis
- Benefits of Root Cause Analysis
- Applying Root Cause Analysis
- Determining the Root Cause
- Examples of Root Cause Analysis Tools and Techniques
Module 6: The 5 Whys Analysis
- The 5 Whys Analysis – Definition
- Features of the 5 Whys
- Benefits of the 5 Whys – Application of Root Cause Analysis
- Steps to Performing the 5 Whys
- Case Study of an Application of the 5 Why Analysis
Module 7: Fishbone Diagram
- Definition of the Fishbone Diagram
- Features of the Fishbone Diagram
- Advantages of the Fishbone Diagram
- Steps in Creating a Fishbone Diagram
- Case study of an application of the Fishbone Diagram
Module 8: Pareto Chart
- Overview and Description of a Pareto Chart
- The principle guiding its technique for Root Cause Analysis
- Features of a Pareto Chart
- The benefit of using a Pareto Chart as a Root Cause Analysis technique
- How to build a Pareto Chart
- Case study of an application of the Pareto Chart
Module 9: The Plan-Do-Check-Act (PDCA) Cycle
- What is the PDCA Cycle?
- Characteristics of the PDCA Cycle
- Advantages of using the PDCA Cycle as a Root Cause Analysis tool
- How the PDCA Cycle is performed
- Case study
Module 10: Failure Mode and Effective Analysis (FMEA)
- What is an FMEA, and what does it document?
- Features of the FMEA
- The benefit of the FMEA as a Root Cause Analysis tool
- Procedures to perform the FMEA
- Case study
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