Monitoring risk on an enterprise-wide basis in financial firms
Despite unimaginable amounts of regulation and legislation, the walls came tumbling down during an unprecedented crash in September 2008. More regulation was called for, more risk management, and also more supervision!
One and a half years later, we still live with the impact of this crash. One thing becomes more apparent, we do not necessarily need more regulation or more supervision, we need more insight, and more understanding. We need to link seemingly separate events and understand their impact and exposure in a broader context. Risk management is at the core of every business – without risk, there is no reward, and in general, this is not a life-threatening situation. However, banks, insurance and pension companies are not normal businesses – they should be compared to surgeons. When something goes wrong, it impacts the lives of people and society at the very core.
During this Congress, we will take a broad look at the true drivers around risk management in the current environment, and focus on laying a new foundation for the future. Understanding current, evolving and new risks will thus drive decisions in any company and financial institution around the world. Dr. Thorniley (who has worked with governments and large institutions over the years) looks at issues around the world and why things are different in our industry. Prof. Eijffinger will look at the broader systemic risk: not just the institutions but the industry and even our economy are at risk if we do not change the way we approach risk today. And what happens when the talking is over, when new regulations are in place? Just how do we implement this? Not just in the compliance unit, but also the business operations. Rudy Hoskens, partner at PWC, deals on a daily basis with implementing and embracing all of this, when the workload in risk management and compliance is already high. Finally, George Möller who has effectively 'retired' since he left Robeco as their CEO, will share his insights with us. His experience in the world of high finance has led him to establish a new degree course on Financial Ethics. He will explain why and how this can be instrumental in helping to improve our grip on risk.
In the afternoon, a series of workshops will provide answers to the questions generated in the morning sessions. For example, what tools are available for obtaining an enterprise-wide view? What type of organization can best support effective risk management – centralized or decentralized? How do you turn detection into prevention when it comes to risks like fraud?
We conclude the day with a lively top-level debate where the gloves come off. Conny Dorrestijn, conference chair, will be joined by a very distinguished international panel comprising Prof. Dr. Sylvester C.W. Eijffinger, Prof. Dr. Peter Praet from the National Bank of Belgium.
Come and join us and be inspired by new insights from experts inside and outside the industry, join the workshops and learn, stay for drinks and network – you are most welcome!
Michel Klompmaker, Publisher
Conny Dorrestijn, Conference Chair