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Agenda - New York

Tuesday 28th September, The Westin, New York

08:00	Registration and Refreshments

08:55	Chairman's opening remarks Michael Imeson, Contributing Editor, The Banker

09:00	Banking: improving risk management to withstand future shocks 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? How do you manage risk in times of great uncertainty. 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, the American Bankers Association and other industry bodies. External discipline: what international and national regulators – such as the Basel Committee on Banking Supervision, the US Treasury and the Federal Reserve Board – are doing to oblige banks to strengthen their risk management frameworks. 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. The drawbacks: higher capital and liquidity requirements will reduce lending capacity. David Coxon, Incoming Chairman, Risk Management Association and CRO, State Bank of Georgia

09:20	Insurance: building more resilient institutions Predicting the future – the insurance, credit, market and operational risks that are in store for insurers. The extent to which risk management practices are being improved to cope with these risks, including advice from industry associations such as the American Insurance Association. Defining risk appetite, setting risk limits, measuring risk, improving internal governance, allocating appropriate levels of capital, and embedding risk management in all activities across the enterprise. Meeting regulatory requirements at international, federal and state levels. Is a US version of the European Union’s Solvency II directive needed to improve insurers’ risk and capital management? Carol Siegfied, CRO, Americas, Zurich Services Corporation

09:40	Operational Risk Management Rick Parsons, Executive Vice President Operational Risk, Bank of America

10:00	Regulation: helping financial institutions to help themselves 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. International regulatory initiatives from the Financial Stability Board, the Basel Committee (“Basel III”), IOSCO, IAIS, the Joint Forum, the Senior Supervisors’ Group, the IASB and others. US regulatory initiatives: from the US Treasury, the Federal Reserve, the Securities and Exchange Commission and others. Areas of focus: risk modelling; 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. Mary Frances Monroe, Vice President, Office of Regulatory Policy, American Bankers Association

10:20	Panel Session: The rise and rise of the CRO Does the CRO in a financial services organisation now have enough power and authority? 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 where the Chief Risk Officer (CRO) fits in. The CRO’s over-arching role – to head up an independent and authoritative risk management function with direct access to the boards. The CRO’s specific duties – to identify and manage risks in individual entities, and across the enterprise, using appropriate systems and controls. Panel Moderator: Michael Imeson, Contributing Editor, The Banker Panellists: Martha Cummings, Chief Risk Officer, New York, Banco Santander Bennett Golub, MD, Head of Risk and Quantitative Analysis, Blackrock Dr Elliot Noma, Managing Director, Garrett Asset Management Michael Stefanick, Director, Risk, SAS

11:05	Concluding Remarks Alastair Sim, Senior Director, SAS

11:15	Networking Refreshments

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