An Irish Life Insurance Company invited me to deliver an in-company workshop on best practices of Key Risk Indicators (KRI’s) for their risk management and internal audit staff. The training was delivered in Dublin in March 2013. We covered the following topics: risk identification through process mapping, features of key risks indicators, selecting and designing predictive indicators step by step (using an exclusive methodology), KRI governance and risk aggregation.
The participants had the chance to reassess their current use of KRI’s. Some departments realised that they actually were using preventive KRI’s to monitor the risk in their business, even though they were not calling them as such. Others got ideas for new KRI’s and another department took a fresh look at its current risk reporting and identified ways to make it more proactive.
All were happy with the day.
KRIs, Risk Management, Training Programme