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 Two - Creating Value from Operational Risk Management
Wednesday, October 8, 2008
| 8:00 - 8:45 |
Continental Breakfast |
8:00 - 8:45 |
8:45 - 9:00
Opening Remarks from the Chair
Ken Swenson, Principal, CRA International; former Senior Examiner, Operational Risk, Federal Reserve Bank Chicago
9:00 - 10:00
Maximizing Value from a Scenario Analysis Program
Tara McLenaghen, Executive Director, Canada, Risk Business International
Bryan Campbell, Vice-President, Finance Group, Centre for Interuniversity Research and Analysis of Organizations (CIRANO); Associate Professor, Economics, Concordia University
- What should a scenario analysis program look like?
- Issues in ensuring maximum value is derived from scenario programs
- How technology can provide support
- Emerging thinking on quantitative models, and how they drive scenario workshops
| 10:00 - 10:15 |
Networking Break |
10:00 - 10:15 |
10:15 - 11:00
Looking ahead: Where Will ORM Be Five Years down the Road?
Anthony "Tony" Peccia, Operational Risk Policy and Implementation, Citigroup
- Future risk predictions and threats to the financial services sector
- Global factors affecting operational risk management frameworks
- What you should do now to prepare
- Moving forward: linking operational risk activities to business objectives and performance management
11:00 - 12:00
Convergence and Integration of ORM with Other Governance, Risk, and Compliance (GRC) Initiatives
Hubert Huang, Associate Director, Protiviti
- Value proposition and imperative for integrating ORM with other GRC initiatives
- Challenges to integrating GRC initiatives
- Role of systems in GRC integration
- Practical ideas for integrating GRC
- Leveraging enterprise risk management to sustain GRC integration
| 12:00 - 1:00 |
Luncheon Break |
12:00 - 1:00 |
1:00 - 2:00
Case Study
Convergence in the IT World
John Heaton, Associate Partner, Security and Privacy Services, Enterprise Risk, Deloitte & Touche LLP
- Integrating multiple risk and compliance requirements into one framework
- Best practices to provide a single view of the requirements and processes to manage IT risk
- What organizations are doing to aggregate risks and understand the future threats
- How you can move to an "assess once, satisfy many" approach
2:00 - 3:00
Canadian and U.S. Perspectives on ORM and Its Challenges
Anthony "Tony" Peccia, Operational Risk Policy and Implementation, Citigroup
Ken Swenson, Principal, CRA International; former Senior Examiner, Operational Risk, Federal Reserve Bank Chicago
Rick Simons, Director, Operational Risk, Bank of Montreal Financial Group; Vice-President, Operational Risk, Harris Bank
- U.S. and Canadian differences
- Improving operational risk management: key challenges on both sides of the border
- How to overcome the challenges
| 3:00 - 3:15 |
Networking Break |
3:00 - 3:15 |
3:15 - 4:15
Panel Discussion
Creating a Sustainable Risk Culture
Kathleen MacDonald, MBA, CCSA, Operational Risk Consultant
Paul McDowell, Managing Director, Financial Services, BearingPoint
Johanne Gelinas, Partner, Corporate Responsibility and Sustainability Services, Deloitte & Touche LLP
- Conceiving, planning, and implementing a sustainable risk culture: challenges and opportunities
- Ensuring a continuous and consistent (i.e., sustainable) risk culture
- What and who needs to be involved: multi-stakeholders are key
- Engaging stakeholders
- Integrated capacity building
- Why culture is more important than structure
4:15 - 5:00
Solvency II: EU Requirement for Insurers
Kerry Reinke, Senior Manager, Enterprise Risk, Deloitte & Touche LLP
- Comparing Basel II and Solvency II: understanding the three-pillar approach
- What Solvency II means for Canadian institutions: impact of increased scrutiny on risk and capital management in the financial services sector
- Roles of Solvency II and ORM
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