Risk and Control Self Assessments (RCSAs) Masterclass
Conducting a refresh of RCSAs? Auditing an RCSA process? This essential masterclass provides a practical, step-by-step guide to effective Risk and Control Self-Assessments (RCSAs), a core tool of the Operational and Enterprise risk framework. While widely used by many firms, RCSAs are frequently perceived as a tick-box exercise simply not delivering enough value.
Learn from Elena Pykhova, the expert who facilitated over 100 RCSAs over 25 years. From designing the right methodology, to formulating risks and controls, to producing the final report that makes a real difference, this masterclass delivers a succinct overview of the RCSA process, examining common pitfalls and providing solutions that have proven effective over time to derive the maximum value out of the exercise.
The course is based on Elena’s book: “Operational Risk Management in Financial Services”, which enables continuous learning.
This session hosted in collaboration with Euronext Academy.
Course objectives
- Learn how to conduct risk assessments effectively
- Find meaningful ways to formulate risks and controls
- Examine the common pitfalls and find practical solutions
- Develop a plan on how to make a difference in your workplace
Course outline
- RCSAs and their role in the Operational Risk Framework
- Why RCSAs fail and how to avoid common pitfalls
- Step 1: Designing the right approach and methodology
- Step 2: Risks – avoiding proliferation, pollution and dirty data
- Step 3: Controls – it’s all about building bridges and testing the temperature
- Engaging the audience and producing the ultimate product: 3-page report
- Measures of success: what works and what doesn’t
- Live poll and discussion: RCSA experience
- Wrap-up: Conclusions and key take-aways
- Make a Difference: Next steps and building an individual action plan
Logistics
- When: June 24th 2026 from 9:30 to 12:30 CET
- Where: Virtual via Zoom
- Duration: 4 hours
- Price: €450
- For whom: Risk Professionals in the 2nd Line Risk Department, 1st Line Risk Champions, Internal Audit professionals, and all individuals involved in a Risk & Control Self-Assessment process
- Prerequisites: None
- Certification: Certificate of attendance