Modelling of operational risk capital and insurance

  • Operational risk
View Agenda

Key reasons to attend

  • Stay up to date with the latest regulatory guidelines
  • Explore the integration of insurance in operational risk management
  • Gain practical skills in risk and insurance optimisation using Microsoft Excel

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Customised Solutions

Does your team require a tailored learning solution on this or any other topic?

Working with the portfolio of expert tutors and’s editorial team, we can develop and deliver a customised learning to make the most impact for your team, from initial assessment to final review. 

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About the course

Gain comprehensive insights into the modelling of operational risk capital and insurance with this interactive learning experience. 

Guided by subject matter experts, this course delves into the evolution of operational risk models, emphasising the regulatory framework with a focus on the new standardised measurement approach (SMA) and advanced measurement approach (AMA). Participants will explore advanced data analysis techniques essential for understanding and managing these risks. 

The course also explores the role of insurance, discussing its function from loss mitigation angles to the technicalities of risk transfer. A standout feature is the hands-on Microsoft Excel demonstration, equipping attendees with practical tools to apply concepts in their professional environments. 

This course ensures a solid understanding of the theoretical underpinnings and tangible skills necessary for effective risk management. 

Pricing options:

  • Early-bird rate: save up to $800 per person by booking in advance (refer to the booking section for the deadline)
  • 3-for-2 rate: save over $2,000 by booking a group of three attendees (applicable to this course)
  • Subscriber reward: save 30% off the standard rate if you are a subscriber (use code SUB30)
  • Season tickets: save over $1,000 per person by booking 10 or more tickets (available on selection of courses)

*The 30% subscriber reward discount is applicable only to current subscribers. If this criteria is not met, we reserve the right to cancel the booking and issue an invoice for the correct rate. Discounts cannot be applied to already registered participants.

Learning objectives

  • Analyse data for internal loss data (ILD) and external loss data (ELD)
  • Employ Monte Carlo simulations in risk modelling
  • Aggregate losses and understand units of measurement
  • Leverage insurance for loss mitigation and capital deduction
  • Map insurable risks to Basel event types
  • Optimise insurance strategies through various modelling parameters

Who should attend

Relevant departments may include but are not limited to:  

  • Risk management 
  • Insurance modelling 
  • Operational risk departments 
  • Financial analysis 


March 13–14, 2024

Live online. Timezones: Emea/Americas


  • Regulatory guidelines for operational risk capital modelling
  • Loss data and scenario analysis 
  • Aggregation of losses and UoMs
  • Insurance in operational risk
  • Risk transfer mechanics and simulations
  • Excel modelling

View detailed agenda


Eelco van Dijk

Operational Risk Analyst Capital Management

Independent Consultant

View bio

Eelco van Dijk has had a significant career in the financial sector, notably at ING Bank where started working in 2008. At ING he worked in the modelling and scenario team of group operational risk. He handled the complexities of internal loss events, including data quality and completeness.

Before ING, Eelco spent nearly 20 years at ABN AMRO in various risk roles.

He also previously held a position on the Risk Committee of the Dutch VBA CFA chapter.

Eelco currently volunteers at Hendrick de Keyser, showcasing his commitment to both professional and community endeavours.


Ruben D Cohen

Howden Group Holdings

View bio

Ruben’s career in the financial industry began in 1999 at Citi, London, working in Asset Management, Corporate Finance, Audit, Compliance, Operational and Credit Risk Analytics and, finally, Model Validation. After Citi, he had a spell at Bank of America working in Model Audit and prior to joining Howden Group in January 2022, Ruben worked at Aon for three years, where he was the technical lead on a number of operational risk and credit risk engagements.

Prior to entering the financial industry, Ruben spent 10 years on the faculty of Mechanical Engineering & Materials Science at Rice University in Houston, specializing in Fluid Mechanics and Thermodynamics.

Ruben has a BEng and an MS in Mechanical Engineering, an MA in Economics from McGill University, Canada; and a PhD in Mechanical Engineering from MIT.

Pre-reading materials

The resources below have been selected to enhance your learning experience:

  • Machine learning for categorization of operational risk events using textual description - Read article
  • The information value of past losses in operational risk - Read article
  • Measuring tail operational risk in univariate and multivariate models with extreme losses - Read article

A subscription will provide you access to these articles. Alternatively, register for free to read two news articles a month.

Enquire about:

  • Agenda and registration process
  • Group booking rates
  • Customisation of this programme
  • Season tickets options

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