Workshop C:
Governance, Risk & Compliance (GRC) and Successful
Operational Risk Management
Led by Nomura and BPS
Introduction
Governance, Risk and Compliance (GRC) is the new ‘hot topic’. Financial institutions throughout the world are talking about the need to streamline governance, risk and compliance processes, while operational risk measurement and management issues remaining one of the key risk features within your organization. Faced with oversight failures in financial disclosure, mounting regulatory criticism and increasing pressure to eliminate redundant costs, organizations are driven to develop an enterprise-wide structured approach to integrate the disciplines of operational risk with governance, risk and compliance.
When devising and implementing an effective operational risk and GRC strategy, where do you start? How long will it take to draft, implement and reap the rewards? How much will it cost? What will be the cost savings, and could you profit from its implementation? Attend this interactive one-day workshop to discuss the key considerations in developing and implementing an operational risk and GRC plan. Learn from others who have started, stopped, and restarted the journey.
DEFINITION AND DRIVERS OF
- Operational risk measurement and management
- Governance, Risk and Compliance
GOVERNANCE AND POLICY
- Examples of effective corporate structures for operational risk management
- Escalation procedures
CULTURE AND AWARENESS: Training, marketing and communication, incentives
LOSS DATA COLLECTION
- Internal data: Standards, practicalities of collection, effective use of loss data, action tracking
- External data: Sources of external data, uses of external data
RISK AND CONTROL SELF ASSESSMENT: Methods, challenges, case studies
KRIs: Identifying true KRIs and using KRIs effectively
ASSESSING RELEVANCE OF OPERATIONAL RISK AS A DISCIPLINE WITH THE ADVENT OF GOVERNANCE, RISK AND COMPLIANCE
- Benefits from a GRC approach
- Challenges: practical, cultural and business
- Systems integration: one system or many?
- Reporting: who needs to know?
GOVERNANCE, RISK AND COMPLIANCE – OPPORTUNITIES AND CHALLENGES
- Issues and policy enforcement
- Quick wins for integrating the silos
- Benefits of a GRC framework
Dominic Wu is the Head of Operational Risk Management with the Nomura Group based in Hong Kong. His role is to put the global operational risk strategy into practice by integrating operational risk activities into daily business operations and fulfilling regulatory requirements. Dominic has more than 15 years of extensive experience in the investment, commercial, consumer and private banking practice gained from Japanese, European and US banks, and also in an international accounting and consulting firm specializing in information and operational risk management formulation and execution.
Mark Opausky is the CEO of BPS. He was the originator of the convergence process model – a lean process, conceptual approach to reducing risk and overcoming obstacles during the execution of complex undertakings and projects. Mr. Opausky has worked and lived in several countries managing large scale projects and new product launches for some of the world’s premiere companies. Mr. Opausky was educated at McMaster University in Ontario, Canada where he graduated with distinction with a bachelor of engineering majoring in biomedical and device material processing.
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