Conference will be held March 13-15, 2007, at New York City’s Grand Hyatt. It’s a “must-attend” event for risk managers who want to understand global operational risk.
Philadelphia, PA (August 1, 2006)—The Risk Management Association (RMA) and Operational Riskdata Exchange Association (ORX) will host a Global Conference on Operation Risk (G-COR) in New York City at the Grand Hyatt on March 13-15, 2007. This two-day event features plenary panels and sessions designed to help risk managers better understand global operational risk and its role in financial institutions.
Conference topics range from modeling operational risk capital to best practices, and how global operational risk fits in the larger enterprise-wide risk management picture. The financial services industry is well represented with speakers from all areas, including U.S. and international banks, accounting firms, and regulators. Featured speakers include Roger Cole, acting director, Federal Reserve System; Jay G. Newberry, managing director and head of operational risk, Citigroup; Eric Rosengren, executive vice president, Federal Reserve Bank of Boston; Joseph A. Sabatini, managing director, JPMorgan Chase and chairman of ORX, and Yousef A. Valine, executive vice president, Wachovia Corporation, chairman of AMA Group.
RMA Director of Operational Risk Charles Taylor describes the conference as a “must-attend event” for risk managers who need to understand global operational risk. “The most senior chief operational risk managers in the industry will discuss their concerns and current priorities,” he said. “Attendees also will find answers to some of the most critical issues facing the industry today.”
These questions include:
- How will ORM, Compliance and ERM come together?
- How close are we to defining best ORM practices?
- What makes RCSA programs really effective?
- Can we ever make scenario analysis rigorous?
- How can institutions really validate operational risk data? What does it really mean to pass the use test?
- How can reporting really help senior management make better decisions?
- What is the difference between tools and techniques that work and those that don’t?
Conference participants will:
- Get updated on the latest quantitative and qualitative techniques for measuring and managing operational risks.
- Develop key new insights from leading practitioners and experts from outside financial services.
- Master practical steps to improve their performance in operational risk management.
- Appreciate exactly what the users want from operational risk management (ORM)—the business unit leaders from major financial institutions, Board members, CROs and the regulators.
- Learn about the emergent patterns and trends in losses and what is driving them.
- Understand how external and internal data should be combined in capital estimation and allocation.
- Catch up on the latest developments in insurance and the transfer of operational risks.
- Gain key insights into when culture goes wrong – why controls and other risk management practices prevent loss in some units and fail in others.
- Listen to leading experts debate the role of training in delivering effective operational risk management.
- Assess second-generation IT solutions for operational risk management.
- Know how the regulators plan to implement Basel, integrate it with financial management compliance and where they will go next.
Three pre-conference programs will be held on Tuesday, March 13, 2007. They will include a Key Risk Indicator Forum, The Advanced Quantification Forum, and The Operational Risk Master Class. The conference will be on Wednesday & Thursday, March 14 & 15, 2007
For more information about the conference, contact RMA Director of Operational Risk Charles Taylor, ctaylor@rmahq.org, 215-446-4126. In Europe, contact RMA European Director of Operational Risk Simon Wills swills@rmahq.org (44) 1225 731 340.
About RMA
Founded in 1914, The Risk Management Association is a not-for-profit, member-driven professional association whose sole purpose is to advance the use of sound risk principles in the financial services industry. RMA promotes an enterprise approach to risk management that focuses on credit risk, market risk, and operational risk.
Headquartered in Philadelphia, Pa., RMA has 3,000 institutional members that include banks of all sizes as well as nonbank financial institutions. They are represented in the Association by 17,000 risk management professionals who are chapter members in financial centers throughout North America, Europe, and Asia/Pacific. Visit RMA on the Web at www.rmahq.org.
About ORX
The Operational Riskdata eXchange Association is an institutionalized forum for the exchange of operational risk-related loss information among its members in a standardized, anonymous and quality assured form.
ORX, a not-for-profit and member-owned organization is incorporated in Zurich as a Swiss Association. ORX provides its members:
- Close alignment with regulatory requirements for business lines and loss categories
- High quality data of operational risk-related loss information
- Anonymization of data by an independent custodian
- Expert scaling and aggregation of data prior to redistribution to members
- High security levels for data transmission
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Contact:
Kathie Beans
RMA Public Relations Manager
215-446-4095
kbeans@rmahq.org