Operational
Risk
A unit of the Investment
Operations Certificate
(IOC)
What is the Operational Risk? Studying for Operational Risk
Operational Risk is one of 15 technical units available as part of the We recommend 80 hours of study time for the unit. You can
Investment Operations Certificate (IOC) which has more than 12,000 chose to self-study for the exam using the CISI learning manual,
exams taken annually worldwide. The unit offers an introduction to accompanying elearning and sample paper or have formal training
the nature of operational risk, its causes, consequences and impact with one of our Accredited Training Partners (ATP); to find an ATP
and the arising of operational risk in the trade cycle and other major near you visit cisi.org/atp
risks.
The CISI’s learning manual policy requires, where available, the
most up-to-date CISI learning manual to be purchased when
Who should study for the booking an exam, including by an ATP on your behalf. This applies
to all candidates sitting CISI exams in the UK (includes Northern
qualification? Ireland, Guernsey, Jersey and Isle of Man). Candidates sitting CISI
exams outside of the UK will receive the most up-to-date learning
This unit is aimed at operations and administration staff who need manual for that subject in PDF format and this is included in the
knowledge of Operational Risk and how it relates to their job role. international exam price.
Candidates who are not currently CISI members receive one year’s
Assessment free CISI student membership and enjoy access to an extensive
range of professional benefits. Visit cisi.org/membership
A one-hour, 50 multiple-choice question exam taken by computer
based testing (CBT). A worldwide network of test centres is available.
Visit cisi.org/cbt to find your nearest venue.
“Completion of the IOC enables our employees to achieve valuable external recognition and
accreditation. Through this course of study they develop their industry, product and regulatory
knowledge, equipping them to better serve our clients. Completion supports career progression
and employee retention, providing a broad understanding of the business as a whole and not
just how to perform a function.”
Steve Hayes-Allen, Manchester Site Executive and Regional Head,
Northern UK, BNY Mellon
1/20
What is the IOC?
The IOC is one of the CISI’s longest established qualifications and is taken by practitioners globally to enhance their knowledge and skills of the
administration and operations areas of the financial services industry.
It is the first step in the CISI’s operations qualification pathway and is achieved by passing any three units from an offering of 17 introductory,
regulatory and technical units, providing you with great flexibility.
The IOC is increasingly used as a benchmarking tool by major banks and investment firms to ensure that staff possess practical knowledge
which can be immediately applied to business activities.
Summary Syllabus The Support and Control Functions
• The independent risk function
The Causes, Consequences and Impact of Operational Risk • The Middle/Back office functions
• The root causes and consequences of operational risk events • The compliance function
• The impact of operational risk • The financial and regulatory reporting function
• Near miss identification and reporting • The HR, legal, IT and internal audit functions
• The product development and marketing function
Operational Risk Arising in the Trade Cycle • The project management and change management function
• Set-up
• Execution
Operational Risk in the Regulatory Environment
• Pre-settlement phase
• Achieving common standards and protection
• Settlement phase
• Regulatory capital requirements
• Post-settlement phase
How to register
Online: cisi.org/ioc By phone: +44 20 7645 0777 Via email: customersupport@cisi.org
Visit cisi.org/prices for current prices.
cisi.org/ioc +44 20 7645 0777 customersupport@cisi.org
