Day One - 7 May 2012

08:30 Registration and coffee

09:00 Modern ORM - From Compliance Exercise to Strategic Imperative I

  • The Changing Regulatory Environment
  • Modern ORM - the New Risk Management Paradigm
  • Aligning Risk Assessment and Risk Measurement
  • How to Use Risk Information in Decision Analysis
  • The Evolutionary Path - From Compliance Exercise to Value Adding Discipline
  • Why Modern ORM is a Strategic Imperative for the Financial Services Industry

Ali Samad-Khan, President, Stamford Risk Analytics

10:30 Morning break

11:00 Creating a framework for the identification and management of operational risk

  • Examining the key elements for implementing a robust operational
    risk management framework
  • Identifying and assessing the risks
  • Operational risk mitigation techniques
  • Creating mechanisms and schedules for monitoring and responding to indicators and controls
  • Accessing sufficient internal and external loss data
  • Ensuring lessons learnt from losses go back into the monitoring process

Saskia Goedhart, Chief Risk Officer, AVIVA NORTH AMERICA

12:30 Lunch

13:30 Maximising results from risk control self assessments

  • Why RCSA's are an important ERM/ORM tool
  • Structuring and preparing for the RCSA
  • Conducting the RCSA - dos and don'ts
  • Risk quantification
  • Maximising the value from the RCSA
  • Evaluating the results and developing accountabilities and an:
    Action Plan

Rich Brownstein, Head of Risk, ICAP

15:00 Afternoon break

15:30 Maximising results from risk scenarios

  • What is the correct role for scenario analysis in managing
    operational risk?
  • Building the foundations for credible scenarios and developing scenarios with sufficient granularity
  • Ensuring there is enough data to compile them
  • Evaluating the results to manage the risk
  • Ensuring they add value - obtaining buy-in from line managementand other key stakeholders
  • Implementing scenarios into the capital model

Mark Ames, Partner, Oliver Wyman

17:00 End of day one

Day Two - 8 May 2012

08:30 Registration and coffee

09:00 Quantifying oprisk exposures and capital requirements

  • Why is operational risk often considered to be unquantifiable?
  • Is operational risk sufficiently important when setting capital to be
    worth the trouble?
  • What loss data is available for modelling purposes?
  • What other sources and techniques can be used to augment actual loss data?
  • Lessons learnt so far
  • Operational risk and Solvency II

Tara Skinner, Principal Solutions Architect, Americas Risk Practice, SAS INSTITUTE

10:30 Morning break

11:00 Ensuring operational risk efforts bring value to the business II - Case discussion

  • Modern ORM - the New Risk Management Paradigm
  • Aligning Risk Assessment and Risk Measurement
  • How to Use Risk Information in Decision Analysis
  • The Evolutionary Path - From Compliance Exercise to Value Adding Discipline
  • Why Modern ORM is a Strategic Imperative for the Financial Services Industry

Ali Samad-Khan, President, Stamford Risk Analytics

12:30 Lunch

13:30 Embedding oprisk awareness into the organisational culture

  • Building appropriate teams down and across the organization
  • Working with actuaries
  • Integrating operational risk management into the governance
    structure from senior management down
  • Establishing success measures for the firm's OpRisk management
    strategy
  • Creating a period review process for measuring risk and return
  • Implementing a monitoring and feedback process
  • Developing a continuous improvement process for the ERM
    framework
  • The role of reinsurance
  • Disclosure and internal reporting; is there a role for market
    discipline?

Bogie Ozdemir, Vice President, Economic Capital, SUN LIFE
FINANCIAL GROUP

15:00 Afternoon break

15:30 Case study: an evaluation of AMA for effective quantification and management of Operational Risk

  • Earlier practices and lessons learned
  • Designing an effective AMA framework, quantitative and qualitative
    elements
  • Necessary components and their interconnectivity: Internal and
    external
  • Data, RCSA and Scenario Analysis
  • Operationalizing the framework
  • Validation and governance to ensure consistent, defendable results
  • Management buy-in and driving business benefits

Bogie Ozdemir, Vice President, Economic Capital, SUN LIFE
FINANCIAL GROUP

17:00 End of course