How to Build and Use a Risk Bow Tie
Bowtie is a risk assessment method used to analyze and establish causal relationships in high risk scenarios. The method is named after the shape of the diagram created, which looks like a men’s bowtie. Bowties provide an excellent visual representation of the potential causes and consequences of a risk scenario and help ensure that all relevant information is identified and properly assessed.
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Virtual Live Training
Presented By: Mario Mosse
Simulated Live Date: Thursday, May 24, 2018
Time: 24-hour interactive on-demand access, 12:00 am-11:59 pm EDT
Session Length: 90-minutes
About This Course:
A Bowtie diagram can produce a visual summary of all plausible threats that could exist around a vulnerability or risk event, and identify the possible consequences. It also serves to identify control measures and other mitigating strategies developed to reduce the risk of those scenarios to an acceptable level or deal with the consequences should one of the scenarios materializes. Once the control measures are identified, the Bowtie method also highlights the ways in which control measures might fail.
Bowties can be used during scenario analysis workshops to capture the group’s consensus on probability of the various events that might cause harm to your organization given a certain scenario, and the impact of the identified potential consequences. They are also very helpful in the determination of root causes so that long-lasting solutions can be developed and implemented.
Areas to be covered during this session:
• What should go in the middle of a bowtie – identifying the problem/hazard
• Causes – what they should include, and how to use and present them
• Root cause analysis and other techniques
• Consequences and likelihood – constructing a business case for managing the bow-tied risk
• Controls - identifying and linking with action management and risk ownership
• The Swiss Cheese model
• What can be measured in a bowtie – the role of compliance
• When the bowtie model is appropriate
Registration Fee
Sustaining Member $89.00 | Contributing Member $99.00 | Non-Member $109.00
Who Should Attend:
Banks, Asset Managers, Broker/Dealers, Insurance Companies and all other financial institutions. Supervisors, Financial Officers, Risk Officers, Internal Auditors, Operational Risk Managers, Internal Auditors, Board members, Compliance Officers, Financial Officers, Internal and External Auditors, Regulators who supervise or examine banks or financial institutions, CFOs (Chief Financial Officers), COO (Chief Operating Officers), CRO (Chief Risk Officers), CIO (Chief Information Officers), CPAs (Certified Public Accountants), CBAs (Chartered Bank Auditors)
About Our Expert
Mario Mosse is the President of MMosse Consulting, LLC, a company that provides risk management advice and training to the financial services industry. Mosse has significant experience in the areas of enterprise risk management, regulatory compliance, internal audit and project management at major financial services companies. He also has extensive knowledge of U.S. and international financial services and products (retail and corporate banking, securities brokerage, investment banking, asset management and life insurance) as well as risk management and internal control frameworks such as Basel III, Solvency II and COSO.
Mosse spent 18 years with Prudential Financial, Inc. where he was in charge of the company’s operational risk management program. Prior to that, he was the Chief Internal Control Officer for Prudential Securities and Vice President, Management internal Control of Prudential Investments. Prior to joining Prudential, Mosse spent 19 years with The Chase Manhattan Bank, N.A. where he was in charge of risk management and compliance for the Corporate Finance Sector, South America Regional Audit Executive, and Vice President, General Auditing.
Continuing Risk Learning Credits: 1
PRMIA Continuing Risk Learning (CRL) programs provide you with the opportunity to formally recognize your professional development, documenting your evolution as a risk professional. Employers can see that you are not static, making you a highly valued, dynamic, and desirable employee. The CRL program is open to all Contributing, Sustaining, and Risk Leader members, providing a convenient and easily accessible way to submit, manage, track and document your activities online through the PRMIA CRL Center. To request CRL credits, please email [email protected].
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