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Tuesday 5th October, Principe di Savoia, Milan
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Registration and refreshments
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08:55
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Chairman's opening remarks
Michael Imeson, Contributing Editor, The Banker |
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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 Associazione Bancaria Italiana (ABI, Italian Banking Association).
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External discipline: what international and national regulators – such as the Basel Committee on Banking Supervision, the Committee of European Banking Supervisors and the Italian regulatory 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
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09:20
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Insurance: building more resilient institutions
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Predicting the future – the insurance, credit, market and operational risks that are in store for insurers.
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The extent to which risk management practices are being improved to cope with these risks, including advice from industry associations such as the European Insurance Federation (CEA) and Italy’s Associazione Nazionale fra le Imprese Assicuratrici (ANIA, the National Association of Insurance Companies).
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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.
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Meeting regulatory requirements at international and national levels, including the European Union’s Solvency II directive which is intended to improve insurers’ risk and capital management.
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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 have improved their risk management since the financial crisis, including risk governance and taking and enterprise-wide approach.
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How the financial crisis has changed the way portfolio risk is managed
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The use of stress-testing techniques in asset management.
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What next for risk management
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Domenico Mignacca, Head of Risk Management, Eurizon Capital |
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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”), IOSCO, IAIS, the Joint Forum, the Senior Supervisors’ Group, the IASB and others.
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Italian and European regulatory initiatives.
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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.
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10:20
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Panel Session: The rise and rise of the CRO
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Does the CRO in a financial services organisation 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 where the Chief Risk Officer (CRO) fits in.
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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:
Michael Imeson, Contributing Editor, The Banker
Panellist:
Andrea Romano, Head of Risk Management, CMB Banque Privée (Suisse) |
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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
Official Publication
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