- Risk Management Oversight
21 November, 2019
9:30 am - 12:30 pm
- City of London
Effective risk management is key to running a successful business. The majority of business failures are not because firms took on too much risk, but rather they did not properly understand and control risk.
With so many aspects of risk management falling to the board to oversee and approve, it’s essential for members to understand how managing risk can affect company strategy and capital management.
This three-hour workshop will cut through the risk management jargon and help you clearly understand your role in identifying, understanding and overseeing risk in your firm.
- Recognise what the FCA/PRA expect when managing business risks
- Explore how to define and monitor risk appetite
- Discover what information you need to effectively oversee risk
- Understand the expectations for resilience and recovery planning
- Learn how to delegate effectively to third parties
Recognise how risk is embedded in your business and its culture
Better understand risk to make better decisions
Provide better oversight of your teams – Gaining a firmer grasp of risk management will help you ensure that the actions of senior managers are consistent with your firm’s corporate strategy, capital management and risk tolerance.
Outperform your competitors – You’ll take your firm beyond just keeping the regulator happy. Those senior teams that look at the big picture and effectively identify risks, challenge assumptions and build effective risk frameworks often gain a financial advantage over their competition.
Mitigate risk by getting better information – Learn when and how to challenge others in your firm to make sure you’re getting the information you need to make appropriate decisions (and become better at spotting when you’re not getting the true picture of events).
Focus on growing your firm – Fast track your knowledge and spend less time on the regulatory and compliance issues of risk management. So you can spend more time thinking about the steps you need to grow your business and secure its future.
The Course Agenda
- What is “risk management” for a financial services organisation?
- Overview of the key elements of a risk management process
- Regulatory expectations of directors in relation to risk
- The FCA’s focus on “conduct risk”
Risk governance structures
- How should the risk function sit within existing governance structures?
- Learn the “3 lines of defence” model
- The roles of the Chief Risk Officer, the Risk Committee and the Board
Understanding risk appetites
- What is risk appetite?
- What should a risk appetite statement contain?
- The role of the board in defining and using risk appetite
- How does risk appetite link with risk capital and strategy?
Understanding risk management information
- What does the board need to know about risk?
- Risk Dashboards and other summary information
- The role of qualitative information in risk management
Planning for resilience and recovery
- Regulatory expectations for resilience and recovery planning
- The board’s role in resilience and recovery planning
- Recent regulatory publications on delegation to third parties
Embedding risk management and awareness in your company culture
- Indicators of a strong risk culture within a firm
- Tips on how to embed a risk culture
Meet The Tutor
Eithne has over 20 years’ experience in the financial services industry in a variety of risk and financial management roles, many of them at board level. She works extensively briefing senior management and Boards on best practice in risk management. She also serves as a non-exec director for two insurers and an asset manager, including roles as Chair of Audit and Risk. A qualified actuary, Eithne spent much of her career with City of Westminster Assurance, where she was Chief Financial Officer before becoming Chief Executive. She left the company in 2007 to establish her own consultancy company. Eithne provides thoughtful insights into the usefulness of risk management theory and can draw on examples from her work to bring the topic to life.
Who is this course for?
This course is ideal for anyone operating at board and senior level, or with an interest in risk management (non-specialist), including:
- Executive/Non-executive Directors
- Chief Financial Officers
- Senior managers with oversight responsibilities
'A very thorough, knowledgeable and most importantly, practical approach to risk management.'
Training that makes a difference
Experienced engaging trainers
With first hand industry knowledge and an intimate understanding of the regulatory environment, we always guide you with an expert (and friendly) hand.
Packed with relevant information
We know you’re busy, so we’re careful not to waste a minute of your time. Our training courses are fast paced, insightful and filled with valuable information.
Get personalised attention
Sessions are practical workshops not PowerPoint lectures. All courses are limited to no more than 14 attendees, so we’re able to explain concepts in the context of your business.