THURSDAY, APRIL 7
8:15 a.m. – 9:30 a.m.
General Session I
ERM at Non-Corporate Entities: U.N. Case Study
Implementing ERM at a typical corporate entity has its challenges. However, for an organization that is a non-corporate entity, large, global, or complex, ERM becomes even more difficult. In this session, we explore a case study of how the United Nations – arguably one of the most complex, large, global non-corporate entities – addressed the challenge of implementing an ERM program. Stefano Losi of the U.N. will give an overview of the U.N. culture and organizational structure, discuss the special challenges it faced in designing and launching its ERM program, and report on progress to date, including a list of key risks the U.N. faces (as shown in its latest public report).
Attendees will learn:
- Challenges of implementing ERM at a non-corporate entity
- Special challenges of adapting an ERM approach for a large, global, and complex organization
- ERM approach at the U.N.
- Current state of ERM implementation at the U.N.
- Key risks the U.N. faces
Stefano Losi, Senior Management Analyst, Office of the Under-Secretary-General, Department of Management, United Nations, New York
4:15 p.m. – 5:30 p.m.
General Session II
SIFI or Not, Here They Come: Impacts of New Fed Regulatory
In this session, attendees will hear first-hand accounts from three insurers including AIG and MetLife who have recently been designated as Systemically Important Financial Institutions (SIFIs) by the new Financial Stability Oversight Council (FSOC), established by the Dodd-Frank Act in the wake of the financial crisis. Each insurer will describe their experience to date, including (a) initial gap analysis comparing current state to expected regulatory requirements; (b) steps put in place to remediate any identified gaps; (c) insurer reaction/approach to addressing the SIFI designation, which range from acceptance to litigation; (d) nature and extent of the actual regulatory requirements imposed; (e) challenges of educating regulators on the inappropriateness of applying banking rules to insurers; and (f) costs (and some benefits) to the business. Insurers will also share their thoughts on how Fed regulation is likely to filter down from SIFIs to smaller insurers, and the implications.
Attendees will learn:
- What a SIFI designation means
- Impacts to an insurer designated as a SIFI
- Varying approaches SIFI insurers are taking in reaction to the designation
- Likelihood and implications of Fed regulation filtering down to smaller insurers
Michael Bohm, Vice President, Prudential Financial
Jing Huang, Ph.D., FSA, MAAA, Global Head of ICALM, AIG
Brian Peters, Sr. Managing Director ERM, AIG
Robert Boyle, Deputy Controller and Regulatory Coordination Office Lead, Prudential Financial
FRIDAY, APRIL 8
8:00 a.m. – 9:15 a.m.
General Session III
Applying ERM Techniques to Enhance Cyber Security: Twitter Case
ERM programs are commonly used to enhance the sophistication of risk-reward decision making at the highest levels of an organization, using an integrated approach to sort out key threats from all sources. However, leading organizations are also using ERM tools and techniques to enhance decision making at the traditional silo risk management level. In this session, we explore a case study of how Twitter successfully applied an advanced yet practical ERM approach to enhance its cyber security. We begin with an introduction on global cyber security, followed by a discussion of Twitter’s approach to cyber threat management and investigations. We then discuss three key advantages of the value-based ERM approach, how Twitter applied value-based ERM tools and techniques to its cyber security risk management, and the results of this case study.
Participants will gain the following:
- Appreciate the magnitude and evolving nature of global cyber security risks
- Understand the cyber-attack life cycle
- Be familiar with Twitter’s approach to cyber threat management and investigations
- Learn the key advantages of a value-based ERM approach, and how to apply ERM concepts to enhance traditional silo risk management, such as cyber security
Ross Graber, Cyber Investigations Senior Manager on the Global Threat Management Team, Twitter
Sim Segal, President, SimErgy Consulting
2:00 p.m. – 3:15 p.m.
General Session IV
Generational Diversity and the Impact on Strategic Risk
Nora Spinks will offer insight, provide information and share best practices concerning generational diversity with regards to its impact on a company’s strategy. Using the latest information from brain science and human behavior, Spinks will address the importance of having a diversity of perspectives, beliefs and behaviors, and practical strategies for effectively targeting diverse and complex consumers, influencing and designing products and the unique challenges of servicing customers with various expectations. She will also highlight how ignoring the generational diversity might derail the long-term strategy of any organization.
Attendees will learn to:
- Appreciate the magnitude and evolving nature of generational diversity and its impact on strategy risk
- Understand the multiple layers of generational diversity faced by organization both internally and externally.
- Provide tools to start a meaningful dialogue around generational diversity and how it impacts product design within an organization.
Nora Spinks, CEO, Vanier Institute for the Family