Seminars

Seminars will be offered on the topics of:


Seminar I – Three Lines of Risk and Control Defense: Challenges and Industry Practices

View Presentation
By Leon Bloom

View Presentation
By Colin Lawrence

View Presentation
By Sean Lyons

View Presentation
By Stephan Schenk

View Presentation
By Alexander Shipilov

This seminar will address the issues and challenges faced by insurance companies and banks in building mature integrated risk governance frameworks which are aligned with the industry standard three lines of defense (3LD) model. The lines of defense need to be designed to clearly delineate risk taking activities, the development of risk management and risk measurement capabilities, quality control and validation processes and practices. This said, definition and implementation of risk governance activities based on the 3LD model has proven to be a formidable challenge for many financial institutions.

Industry practitioners representing all three lines of defense and regulatory supervisors will provide insight, guidance and lessons to be learned in building risk governance structures that align with the 3LD model. Interactive sessions and a panel discussion will cover leading industry practices in implementing robust enterprise risk and control and assurance functions.

All participants of the Seminar are invited to join open LinkedIn Group – 3 LINES OF CORPORATE DEFENSE. The Group’s objective is to facilitates free exchange of information and discussion on the Three Lines of Risk and Control Defense.

The sessions will cover:

  • Risk governance framework design and alignment with the three lines of defense (LDs)
  • Division of 3LD roles, responsibilities and accountabilities: From front office to board of directors
  • Assessment of the maturity of risk, control and assurance functions
  • Application of the 3LD governance framework to risk segments and audit: operational, underwriting, credit, market and model risk
  • Calibration of risk appetite and risk limits
  • Triangulation of risk appetite, risk limits and key risk indicators

Moderator:
Alexander Shipilov, TD Insurance

Faculty:
Dr. Colin Lawrence, The Financial Services Authority (FSA)
Leon Bloom, Deloitte & Touche LLP
Stephan Schenk, TD Bank
Bogie Ozdemir, SunLife Financial
Sean Lyons, R.I.S.C. International (Ireland)

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Seminar II: Improving the Forecasting and Management
of Extreme Events

View Presentation (Block 1)
By Guntram Werther

View Presentation (Block 1)
By Max Rudolph

View Presentation (Block 2)
By Guntram Werther

View Presentation (Block 3)
By Guntram Werther

View Presentation (Block 3)
By Tom Edwalds

View Presentation (Block 4)
By Guntram Werther

This forward-thinking seminar builds off previous research and projects implemented by Dr. Guntram Werther, and considers and contrasts with thinkers like Nassim Taleb (The Black Swan, Antifragile: Things that Gain from Disorder), Nate Silver (The Signal and the Noise: Why So Many Predictions Fail – But Some Don’t) and Frank Partnoy (Wait). The nontechnical discussion will encourage discussion of best practices and helping identify leading indicators for emerging rare, outlier events.

This interactive seminar will discuss practical research, and focus on helping attendees focus on other rare events about which risk managers should be aware Attendees will leave the seminar with competitive advantages related to identification tools for large scale large impact rare events (LSLIRE). Practitioners Max J. Rudolph, FSA, CFA, CERA, (Rudolph Financial Consulting, LLC) and Tom Edwalds, FSA, ACAS, MAAA, (assistant vice president at Munich American Reassurance Company) will complete the faculty at this event and bring their real world experiences to the discussion.

Dr. Guntram Werther, Ph.D., professor of strategic management at The Fox School of Business at Temple University, has developed approaches to better anticipate rare events through years of working with military, intelligence, police, oil/gas, insurance and other Fortune 10 to 500 corporate practitioners. He presented an overview at a general session during the 2012 ERM Symposium and has since expanded it into a sponsored research paper, written with co-author Tom Herget. The paper, When Black Swans Aren’t: Holistically Training Management to Better Recognize, Assess, and Respond to Emerging Extreme Events, will be available for download prior to the event.

Faculty:
Max J. Rudolph, FSA, CERA, CFA, Rudolph Financial Consulting
Tom Edwalds, FSA, ACAS, MAAA, Munich American Reassurance Company
Dr. Guntram Werther, Ph.D., The Fox School of Business at Temple University

http://www.soa.org/BlackSwans/

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