RMA will present the Third Annual Operational Risk Forum in New York City, November 20-21, 2002, at the Citigroup Executive Center
Philadelphia (November 6, 2002)— RMA-The Risk Management Association will present the Third Annual Global Operational Risk Forum in New York City on November 20-21, 2002, at the Citigroup Executive Center. The forum will focus on the latest organizational developments in the measurement and management of operational risk.
As bankers across the globe prepare for implementation of the new international Capital Accord, the ability to measure and manage operational risk has become even more essential. Regulators will assess institutions a charge for operational risk when the new Accord is implemented in 2006. Last year the Forum was presented by the Association of German Banks in Berlin. The first Forum, presented by The British Bankers Association, was held in London in 2000. Operational risk is defined in the Basel Accord as the risk of direct or indirect loss resulting from inadequate or failed internal processes, people, and systems, or from external events.
The keynote speaker is Suzanne B. Labarge, vice chairman and chief risk officer, RBC Financial Group. Also speaking is Donald K. Truslow, chief risk officer, Wachovia Corporation, who will discuss the relationship between operational risk and enterprise-wide risk.
The Forum includes sessions that are tracked for either measurement or management of operational risk. Topics to be discussed by senior bankers, regulators and consultants include:
- Boundaries in operational risk and enterprise risk.
- Opportunities and solutions in data collection and integrity.
- Best practices in self-assessment.
- Role of the centralized operation risk management unit.
Eric Rosengren, senior vice president, Federal Reserve Bank of Boston, will discuss the Basel Committee's current position on operational risk and the implementation challenges facing regulators and the industry when the new Accord goes into effect.
More information about the Third Global Operational Risk Forum is available on the RMA Web site. Registration can be completed on online or by calling RMA Customer Care at 1-800-677-7621.
RMA is the leading professional association to promote effective risk management practices across the entire financial services industry. Headquartered in Philadelphia, RMA is comprised of 3,000 financial institutions. More than 16,000 commercial loan, credit and risk management professionals are individual members of RMA in North America, and in London, Hong Kong, and Singapore. For more information, contact Kathie Beans at 215-446-4095.