Risk Management Information and Reporting - 21/05/2019
The Training Environment For Financial Services

Risk Management Information and Reporting

21 May 2019, London

10:00am to 4:00pm

Course Outline & Objectives

"All Board members and senior management would like to receive MI which is clear, thoughtfully designed and easily understandable. The design of MI is critical, particularly when Boards need to be sighted on and understand the risks an organisation faces on an ongoing basis, and where it is relevant to risk appetite."

FCA (December 2018)

Identifying, gathering and presenting appropriate management information (MI) in a timely and accessible form remains an ongoing challenge for financial services organisations, particularly in relation to risk.
This practical one-day workshop will help financial services professionals responsible for  risk management, monitoring and reporting understand and apply the principles of effective management information, recognise and develop meaningful and relevant MI in their business and so enhance risk and compliance management in their organisation. Attending this practical workshop will help you to:

  • Understand what the regulators, Board and other stakeholders expect from your risk MI
  • Review current approaches to risk reporting and select the appropriate technique for different risk categories
  • Design an effective Key Risk Indicator framework
  • Address the challenges of reporting complex risk information to the Board, including Risk Culture, Cyber and Emerging Risks
  • Take away practical ideas for improving your risk MI and reporting framework

Who will benefit?

This course will be of value to anyone who has risk management, monitoring or reporting responsibilities, particularly those who are new to the area or seeking a refresher of the fundamental principles and approaches.

Training Approach

This workshop uses a combination of trainer input, interactive syndicate work and case studies. Group size is kept to a maximum of 16 to ensure the quality of learning and facilitate sharing of experience.

Course Leader

Eithne McManus has over 20 years’ experience in the financial services industry, in a variety of risk and financial management roles and is now a consultant specialising in risk and capital management, particularly in relation to outsourcing. 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, including the design and implementation of appropriate MI for the Board, before leaving in 2007 to establish her own consultancy company. Eithne is a non-executive director at two insurance companies and an asset manager.

Course Programme

Session Aim Content
Purpose of risk MI Understand why risk MI is so important and some of the challenges in designing an effective risk MI pack
  • The importance of Enterprise Risk Management for financial services organisation
  • Where risk reporting links into the overall risk management framework
  • Requirements of different stakeholders for risk management information
Risk reporting tools and techniques To provide an overview of the different tools and techniques available to firms when designing their approach to risk reporting
  • Options for risk reporting
  • Strengths and weaknesses of different approaches
  • Choosing the 'right' reporting tool for different risk categories
Key Risk Indicators and Key Control Indicators Key Risk Indicators will be a significant element of any risk reporting pack. This session will focus on the specific techniques and challenges associated with designing and implementing an effective KRI/KCI framework
  • Characteristics of effective KRIs and KCIs
  • Approaches to the selection of indicators (Top down versus bottom up)
  • Leading and composite indicators
  • Issues for data collection (cost, accuracy, aggregation)
  • Defining the Risk tolerance Levels (RTLs) for the KRIs
  • Syndicate exercise on the design of a KRI framework
Requirements of Boards for appropriate risk MI and some current key themes in this area The regulator has a keen interest on how firms ensure the Board receives and understands relevant MI. This session covers current themes in this area: (risk culture and conduct risk, cyber risk, emerging risks and horizon scanning) and considers how these can be linked into an overall Board reporting framework
  • The challenge of presenting complex risk information to a Board in a meaningful way
  • The assessment and reporting of risk culture and conduct risks
  • Applying the risk reporting framework to cyber risk
  • Dealing with emerging risks and horizon scanning to ensure a ‘forward looking approach'
Conclusion Using your risk information to drive management action and business strategy
  • Review of your current approach to risk MI
  • Questions and close

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.

Bottom Banner
© 2014 Corporate Training Partnerships. All Rights Reserved. Terms and Conditions | Privacy Policy