Risk Management Information and Reporting - 22/11/2018
The Training Environment For Financial Services

Risk Management Information and Reporting

22 Nov 2018, Dublin

10:00am to 4:00pm

Course Outline & Objectives

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.

If you are responsible for risk management, monitoring or reporting in a financial institution, this practical workshop will help you identify and develop meaningful and relevant risk MI and so enhance risk and compliance management in your organisation.

Attending this practical workshop will help you to:

  • Understand what the Board, CBoI and other stakeholders expect from your risk MI
  • Review the latest 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 is a consultant who specialises in assisting financial services companies with enterprise-wide risk management. She is a Chartered Enterprise Risk Actuary, with over 20 years’ experience in the financial services industry in a variety of risk and financial management roles, and holds a BA in Mathematical Sciences from Trinity College, Dublin.

Eithne spent most of her career with Irish Life and Permanent, initially in Dublin and later in the UK, where as CFO/CRO of the UK subsidiary company she designed and implemented appropriate risk MI for the Board, before ultimately being appointed as CEO. As well as her training and consultancy work, 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 organisations
  • 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 consumer protection risks, particularly in light of the CBoI's March 2017 guidance in this area
  • 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.

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