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Tuesday 9th November 2010, The Establishment, Sydney
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Registration and refreshments
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08:55
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Chairman's opening remarks
Lachlan Colquhoun, Sydney-Based Writer, Financial Times and Editor, Insto magazine
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| 09:00 |
Banking: improving risk management to withstand future shocks
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Is the world about to experience more financial market turmoil, possibly sparked by a sovereign debt crisis… or are we witnessing the beginning of a sustained recovery?
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How do you manage risk in times of great uncertainty?
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Self-improvement: what the banking sector is doing to put its own house in order, including implementing the risk management recommendations of the Institute of International Finance and the Australian bankers’ association.
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External discipline: what international and national regulators – such as the Basel Committee on Banking Supervision, and the Australian authorities – are doing to oblige banks to strengthen their risk management frameworks.
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The benefits: better risk governance, greater integration of all risk activities, more accurate risk data and modelling, robust stress-testing and changes in pay and bonus policies to reduce excessive risk-taking.
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The drawbacks: higher capital and liquidity requirements will reduce lending capacity.
Dirk McLeish, Group General Manager, Risk, Westpac Banking Corporation
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09:20
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Insurance: building more resilient institutions
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Predicting the future. What emerging risks are out there, and how are insurance companies dealing with these risks?
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ERM evolution. How are enterprise risk management practices evolving in insurance companies to cope with ever increasing internal and external demands?
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ERM embedding. How can risk management be embedded in the activities across the enterprise?
George Thwaites, Chief Risk Officer, Group Executive, QBE Insurance Group
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09:40
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Asset Management: plotting new directions
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Where next for financial markets and asset values?
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How asset managers – traditional and alternative – have improved their risk management since the financial crisis, including risk governance and taking an enterprise-wide approach.
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The work of asset management/capital markets industry associations like the International Capital Market Association (ICMA) and the Alternative Investment Management Association (AIMA).
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How regulation is shaping investment firms’ attitude to risk, including recommendations from Australia’s regulatory authorities and the International Organisation of Securities Commissions (IOSCO)
David O’Reilly, General Counsel, Legal and Compliance, Financial Services Council |
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10:00
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Regulation: helping financial institutions to help themselves
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What regulators are doing to encourage firms to improve their risk management strategies and practices – and increase their capital and liquidity cushions – to be better prepared for the next crisis and to promote global financial stability.
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International regulatory initiatives from the Financial Stability Board, the Basel Committee (“Basel III”) and others.
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Austalia's regulatory initiatives.
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Areas of focus: eg stress-testing; leverage ratio; increasing transparency to reduce risk in the financial system; addressing counter-cyclicality; aligning salaries and bonuses with long-term value and risk management; building adequate and integrated IT systems; risk governance.
Tony Burke, Policy Director, Australian Bankers’ Association
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10:20
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Panel Session: Risk governance and the rise of the CRO
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Do the Chief Risk Officer (CRO) and other senior risk managers in financial services now have enough power and authority?
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Enhancing corporate governance practices in banks and other financial institutions: mandatory and self-regulatory measures to define the role of the supervisory board and the management board, especially in relation to approving and overseeing the organisation’s risk strategy, and understanding the roles of the CRO and other risk executives.
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The CRO’s over-arching role – to head up an independent and authoritative risk management function with direct access to the boards.
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The CRO’s specific duties – to identify and manage risks in individual entities, and across the enterprise, using appropriate systems and controls.
Panel Moderator:
Lachlan Colquhoun, Sydney-Based Writer, Financial Times and Editor, Insto magazine
Panellists:
Andrew Huszczo, Chief Actuary and Chief Risk Officer, Allianz Australia Insurance
Tim L'Estrange, Group General Manager Governance, ANZ
Brendon Smyth, Director, Financial Services Strategy, SAS
Manda Vulic, Chief Risk Officer, MLC and NAB Wealth
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| 11:05 |
Concluding remarks
Alastair Sim, Senior Director, SAS
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11:15
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Networking refreshments
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Presented By
In Association With
Media Partner
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