Creating Value from Operational Risk Management
Strengthening Your ORM Practices to Protect Your Financial Institution
Conference: October 7 and 8, 2008
Radisson Admiral Harbourfront Hotel · Toronto, Ontario
Day One - Creating Value from Operational Risk Management
Tuesday, October 7, 2008
| 8:00 - 8:45 |
Registration and Continental Breakfast |
8:00 - 8:45 |
8:45 - 9:00
Welcome and Opening Remarks from the Chair
Tara McLenaghen, Executive Director, Canada, Risk Business International
9:00 - 9:30
ORM Plans and Priorities for the Coming Year in the U.S.: A View from a Former Banking Regulator
Ken Swenson, Principal, CRA International; former Senior Examiner, Operational Risk, Federal Reserve Bank Chicago
- Regulations in the U.S.
- Range of practice
- What's next
9:30 - 10:30
Case Study
New Risks and Emerging Areas of Concern in Operational Risk Management
Penny Cagan, Managing Director, OpVantage, a Division of Fitch Risk
- Identifying new risks and emerging risk areas
- Future risk predictions
- "The Past Is Prologue: Lessons from the Stock-Parking Events of the 1980s" and other case studies: how to examine past frauds and apply the lessons learned to present-day events
| 10:30 - 10:45 |
Networking Break |
10:30 - 10:45 |
10:45 - 11:45
Ensuring Senior Level Buy-In for ORM Activities
Anthony "Tony" Peccia, Operational Risk Policy and Implementation, Citigroup
- What to report, and how
- What does the board want and need to know?
- Use of dashboard "at a glance" measurements
- Proving the added value of ORM implementation
| 11:45 - 12:45 |
Luncheon Break |
12:30 - 12:45 |
12:45 - 1:45
Basel II Standardized Approach: Challenges and Opportunities
Rick Simons, Director, Operational Risk, Bank of Montreal Financial Group; Vice-President, Operational Risk, Harris Bank
- Basel II implementation: comparing different approaches and the challenges they present
- Recent developments
- Effectively integrating your Basel II initiatives with the rest of your ORM program
1:45 - 2:45
Getting More out of the Risk Control Self-Assessment (RCSA) Process
Tara McLenaghen, Executive Director, Canada, Risk Business International
- Challenges associated with existing RCSA methodologies
- "Second generation" approach to RCSA: more structure and standardization
- Leveraging RCSA to support governance, risk, and compliance (GRC) convergence
- How to use ORM to make your institution more risk-aware
| 2:45 - 3:00 |
Networking Break |
2:45 - 3:00 |
3:00 - 4:00
Getting Total Value from Your ORM Implementation
Dragica Grbavac, Principal, riskWaves corporation; Program Director, Centre of Excellence for Enterprise Risk Management, Schulich School of Business
- Making the value of ORM clear to the whole organization
- Getting the implementation aligned with organizational objectives
- How value is affected by your decision-making approach
4:00 - 5:00
Discovering the Value of Loss Event Information
Steve Weinstein, Senior Manager, Operational Risk Management, TD Bank Financial Group
- Does management care about loss data? Why should they?
- Challenges
- Opportunity: how to get management interested
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