Masterclass in Entreprise Wide Intregrated Risk Management
| Course Provider |  |
| Dates Duration | 2-4 November 2010 3 Days |
| Venue | Insititute of Bankers, 1 North Wall Quay, IFSC, Dublin 1 |
| Course Fees | Full Fee: €2100 Network Members Fee: €1260 |
Programme Introduction
The recent financial crisis acquired unparalleled proportions and inflicted long-term damage on economies, exposing many weaknesses in existing risk management frameworks within financial services. The development of tools and models for assessing risk arguably lulled people into believing risk was now easier to control. Amongst the many lessons the crisis has highlighted is the need to improve enterprise risk management strategies and, particularly, implementation of those strategies at institutional levels in the financial services industry. Strong Enterprise Risk Management (ERM) is acknowledged as one of the key differentiators of organisations by all stakeholders from rating agencies to regulators.
ERM is different from traditional approaches to risk management. These operate within specific risk types or silos (e.g.) credit, market, operational, business, compliance, and are rarely managed with a view to the overall exposure of the business. ERM seeks to be different. Its objective is to consider all risks in a holistic way using this perspective to identify gaps in risk management and opportunities to diversify or self-hedge within and across risks.
Strong ERM will enable an entity to:
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Promptly identify, measure, manage, report and monitor risks that affect achievement of strategic, operational and financial objectives;
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Adjust an entity’s risk profile in line with its risk tolerance to respond to new threats and opportunities in order to optimise returns;
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Embed risk management into strategy and decision-making processes;
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Protect capital by not taking risks beyond an entity’s risk tolerance;
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Enhance value creation and achieve an optimal risk-return profile by efficiently deploying capital;
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Support decision making processes by providing consistent, reliable and timely risk information; and
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Protect an entity’s brand and reputation by fostering the core values and promoting a sound culture of risk awareness and disciplined and informed risk taking.
By the end of this Master Class it is expected that candidates will have an understanding of the essential elements of a strongly rated ERM framework and what effective implementation of such a framework looks like. This is a unique opportunity for the candidate to experience how leading practitioners address the individual elements of a financial institutions Enterprise Risk Management framework.
This Master Class will appeal to candidates in such roles as:
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Chief Financial Officers
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Regulatory Reporting Officers
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Auditors
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Risk Managers (in all risk disciplines)
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Existing and aspiring non-executive Directors
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Compliance Managers
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Legal Professionals
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Corporate Bankers
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Trustees
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Wealth Managers
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Consultants / Advisers
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Research Analysts
Topics Overview
This Master Class will address topics such as measurement of firm-wide risk; identification of those risks where the firm has a competitive advantage and those that the firm should hedge; natural diversifications among the firm’s positions and business activities; allocation of risk capital; implementation and evaluation of risk management systems.
Examinations and Assessment
There are no examinations or assessments for this Master Class in Enterprise-Wide Integrated Risk Management.
Master Class Leader - Clive Kelly
Clive Kelly is the Chief Risk Officer of Zurich Insurance plc. He is an external lecturer and examiner at University
College Dublin and also lectures on a number of Executive Masters programmes at the Institute of Bankers School of
Professional Finance. He is a Chartered Insurer and holds a BBS from Trinity College Dublin.
Clive has extensive experience in all areas of insurance and reinsurance having served on the executive team of Zurich’s Irish general insurance business for 10 years before moving to his current position as CRO and executive team member of Zurich Insurance plc. (the EU Head Office of Zurich Financial Services with revenues of €11 billion). He is a member of the ZFS Global Risk Management Leadership Team.
Mr Kelly is the author of “Compliance Management” an Association of Compliance Officers in Ireland text book and has published a number of articles in national press and industry journals in Ireland. He has lectured extensively both in Ireland and in Europe on the topics of Risk Management and Compliance.
To Register
The closing date for registrations is Friday, 10th September 2010. To register, please click BOOK THIS COURSE and complete all sections of the Application Form.