Day 2

DAY TWO: Thursday 22 April 2010

8.30 Registration and Coffee

8.50 Editor’s opening address

9.00 Keynote address

Alden Toevs, Group Chief Risk Officer, THE COMMONWEALTH BANK OF AUSTRALIA

9:40 Panel Discussion: Lessons for operational risk managers from recent extreme market conditions

Operational risk management deficiencies exposed by recent market events
How are firms changing their risk programs in response?
How have the priorities of operational risk managers changed?
Practical steps to prepare your firm for the next market crisis

Sergio Scandizzo, Head of Operational Risk, EUROPEAN INVESTMENT BANK
John Wertheim, EMEA Regional Head of Operational Risk, CITIGROUP GLOBAL MARKETS LTD
Lars Hansén, Chief Risk Officer, SEB LIFE
Further speakers to be confirmed

10.30 Morning coffee and networking break

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Day Two: Stream 1

QUALITATIVE VS. QUANTITATIVE APPROACHES TO OPERATIONAL RISK

11.00 Chairman’s Opening Remarks

11.10 Panel discussion: Panel discussion: Getting the balance right between qualitative and quantitative operational risk modelling techniques

Re-evaluating current models
Can operational risk really be modelled?
Incorporating qualitative risk management techniques
The role of judgment in AMA models and the delicate balance between the former and the quantitative approaches
The balance between internal and external data versus scenarios and BEICF

Davide Bazzarello, Group Head of Operational and Reputational Risk, Group Risk Management, UNICREDIT S.P.A.
Sergio Scandizzo, Head of Operational Risk, EUROPEAN INVESTMENT BANK
Andreas Jobst, Economist, Monetary and Capital Markets Department, INTERNATIONAL MONETARY FUND
Ian Morton, Quantitative Manager, SANTANDER

12.00 Presentation: Guest speaker: Parallels of risk management between the financial and engineering sectors

Explore the universal application of risk management philosophy, processes and tools to business and finance
Discussion of NASA’s new risk management techniques to manage operational risk on the development and operations of the new Space Shuttle replacement spacecraft, called Orion
Linking together various key risk facets and drivers to minimize vulnerability
Key lessons learnt from risk management implementation

Jeevan Perera, Technical Manager, Orion Spacecraft Office, NASA JOHNSON SPACE CENTER

12.40 Lunch and an opportunity to visit the exhibition

13.40 Presentation: Basel II Pillar 3 – implementing a coherent disclosure and communication strategy for operational risk

New public disclosure requirements
Steps to improve market reporting
Establishing appropriate internal controls on disclosure
Validation process requirements

Speaker to be confirmed

14:20 Presentation: Presentation: New insights in forecasting
tail events

Capturing tail risks beyond VaR
Measuring of joint tail risks
Dealing with higher moments

Andreas Jobst, Economist, Monetary and Capital Markets Department, INTERNATIONAL MONETARY FUND

Day Two: Stream 2

NEW THREATS AND OPPORTUNITIES FOR OPERATIONAL RISK

11.00 Chairman’s Opening Remarks

11.10Panel discussion: Progress towards Solvency II implementation by European insurance companies

What does CEIOPS' final advice look like?
How can the insurance industry plan for the introduction of Solvency II?
What do insurers need to be doing?
- Preparation for Pillar I capital requirements / QIS5 (Autumn 2010)
- Preparation Pillar II / ORSA requirements
Internal Model Approval Process: update on the pre-application process for internal models

Patricia Plas, Senior Vice President, Public Policy & Regulatory Affairs, AEGON N.V.
Laurent Voignac, Head of the Department of Economic and Market Studies, FRENCH SUPERVISORY AUTHORITY, and SCR subgroup leader, CEIOPS FINANCIAL REQUIREMENTS EXPERT GROUP
Sophie Lloret, Policy Advisor, Financial Regulation and Taxation, THE ASSOCIATION OF BRITISH INSURERS (ABI)

12.00 Presentation: Can insurance and derivatives mitigate operational risk?

Is this only relevant for AMA firms?
Making it work
The advantages and disadvantages
What do the regulators think

Andrew Sheen, Manager, Operational Risk Policy Team, FINANCIAL SERVICES AUTHORITY (UK FSA)

12.40 Lunch and an opportunity to visit the exhibition

13.40 Presentation: Internal model approval - a regulatory viewpoint

Statistical quality standards
Use test
Model governance
Documentation and data requirements
The role of external models

Mohamed Lechkar, Project leader Solvency II Internal Model Approval, DE NEDERLANDSCHE BANK /DUTCH CENTRAL BANK

14.20 Presentation: Improving risk governance throughout the organization

New range of risk and emerging operational risk managers culture
How has the culture perception and role of operational risk managers changes
Opportunities created by the crisis
Has it became easier to communicate with top management

Speaker to be confirmed

15.00 Afternoon refreshments with the opportunity to network and visit the exhibition

15:20 Panel discussion: How can we improve the use and effectiveness of loss data?

Moving beyond the regulatory requirements – opportunities to better link LDC to financial records
A joined up escalation and LDC process
Capturing important risks that are outside the definition of capital?
Landing LDC in the business. Data quality vs. embedding?
The role of data consortia in leading industry wide efforts to improve data quality and availability
Appropriate uses of loss data and its limitations

Ralph Nash, Operational Risk and Financial Crime Director, BARCLAYS COMMERCIAL BANK
Andrew Gascoyne, Chief Risk Officer, ALLIANZ INSURANCE
Claudia Pasquini, Secretary General, ITALIAN OPERATIONAL RISK DATA CONSORTIUM
Simon Wills, Executive Director, OPERATIONAL RISKDATA EXCHANGE ASSOCIATION (ORX)

16:10 Panel discussion: Operational risk challenges for 2010 and beyond

What are the emerging risks facing the industry?
How should the industry address the deficiencies in operational risk management exposed during the financial crisis?
The operational risk manager’s role in protecting their firm against future global pandemics
Identifying key priorities for operational risk managers

Christine Estager, Managing Director, Global Head of Operational Risk Management, NEWEDGE GROUP
Robert Huebner, Deputy Global Head Operational Risk Management, DEUTSCHE BANK
Günther Helbok, Head of Operational Risk & Risk Integration, BANK AUSTRIA – MEMBER OF UNICREDIT GROUP
Further speakers to be confirmed

17:10 End of conference