Risks, Controls and Oversight by the Board - 23/11/2017
The Training Environment For Financial Services

Risks, Controls and Oversight by the Board

23 Nov 2017, London

9:30am to 12:45pm

Outline & Objectives

In the aftermath of the financial crisis, and the implementation of the new UK regulatory framework, the performance of Boards and individual Board members in financial institutions is being scrutinised as never before – particularly in relation to risk management.

This focused half day event has been developed especially for Executive and Non-Executive Directors in firms prudentially regulated by the FCA, to help them understand their risk management responsibilities and the practical steps to fulfilling them, in the developing regulatory environment.

Attending this practical workshop will help you to:

  1. Know what the regulator expects from Boards and Board members in respect of risk management
  2. Identify the appropriate governance structures and models
  3. Understand your risk appetite
  4. Consider conduct risk and what the FCA anticipates Boards will be reviewing in this area
  5. Make sure you are receiving the right Management Information on your key risks and controls
  6. Embed risk awareness in the culture of the organisation

Who will benefit

The course is aimed at Directors in firms prudentially regulated by the FCA who do not have specific risk management responsibilities but who need to understand risks and controls as part of their governance and oversight role.

Training Approach

This workshop uses a combination of trainer input, interactive syndicate work and case studies. Group size is limited to ensure a high quality of learning and facilitate sharing of experience.

Workshop Leader

Eithne McManus has over 20 years' experience in the financial services industry in a variety of risk and financial management roles, many of them at board level. A qualified actuary, Eithne spent much of her career with City of Westminster Assurance, the UK arm of Irish Life and Permanent, where she was Chief Financial Officer before becoming Chief Executive. After the sale of CWA to Chesnara, Eithne assumed responsibility for risk management and capital assessment within the Chesnara group as a whole, before leaving in 2007 to establish her own consultancy advising companies and Boards on risk and capital issues. Eithne is also a non-executive director at a small mutual insurance company, where she chairs the Audit Committee and sits on the Risk Committee.

Workshop Programme

Session Aim Content
Introduction To establish directors’ shared responsibility for risk in a financial services regulated firm
  • What is meant by risk management for a financial services organisation
  • Regulatory expectations of directors in relation to risk
  • Understanding conduct risk
Risk governance structures To understand how the FCA expect boards and firms to be organised in order to manage and provide oversight of risk
  • How should the risk function fit within existing governance structures?
  • The '3 lines of defence' model
  • The roles of the Chief Risk Officer, the risk committee and the Board
The Board's responsibility for risk appetite To examine what is meant by risk appetite and why the Board should 'own' the risk appetite statement
  • What is risk appetite
  • What a risk appetite statement should contain
  • Syndicate exercise on risk appetite statements
Understanding risk management information To provide techniques to enable delegates to question and understand risk management information provided
  • Knowing your key risks
  • Key risk indicators
  • Risk dashboards
  • The role of qualitative information in risk management
The conduct risk agenda To know what the FCA means by conduct risk and how it monitors it
  • The relationship between conduct risk and TCF
  • Conduct risk assessment frameworks
  • Conduct risk MI
Ensuring risk management and awareness is embedded in the culture of the organisation To understand the Board's role in embedding risk management throughout the firm
  • Indicators of a strong risk culture within a firm
  • Techniques the Board can use to strengthen risk management

This course can be delivered in-house at a time and location to suit your business and tailored to suit your people and organisation. We can also create bespoke training when something very specific is needed.Please contact us to discuss your requirements in more detail and at no obligation.

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