COVID-19 Pandemic Preparedness and Enterprise Risk Management

Key Takeaways

The coronavirus both impacts banks' operations and also manifests as increased credit and market risks, and these should be addressed by their ERM processes leveraging the existing risk management tools like Stress Testing and Forward-looking Scenario Analysis. Additionally, a health crisis presents unique operational challenges that often are not addressed by traditional business continuity management systems. Conducting a thorough analysis of specific operational risk scenarios is an important component of a pandemic preparedness plan.  Risk managers can contribute to this effort by leveraging some elements of the operational risk management programs such as scenario analysis, key risk indicators, and the issue tracking and resolution process.

Speakers/Panelists

Peter Plochan is Principal Risk & Finance Specialist at SAS Institute, assisting institutions in dealing with their challenges around finance and risk regulations, enterprise risk management, risk governance, risk analysis and modelling. Peter has a finance background (Master’s degree in Banking) and is a certified Financial Risk Manager (FRM) with 13 years of experience in risk management in the financial sector. He has assisted various banking and insurance institutions with large-scale risk management implementations, while working internally and externally as a risk management advisor (PwC).

Mario Mosse is the President of MMosse Consulting, LLC, a company that provides risk management advice and training to the financial services industry. Mr. Mosse has significant experience in the areas of enterprise risk management, regulatory compliance, internal audit and project management at major financial services companies. He also has extensive knowledge of U.S. and international financial services and products (retail and corporate banking, securities brokerage, investment banking, asset management and life insurance), as well as risk management and internal control frameworks such as Basel III, Solvency II, and COSO.

Previously, Mr. Mosse was with Prudential Financial, Inc. for 18 years where he was in charge of the company’s operational risk management program. Prior to that, he was the Chief Internal Control Officer for Prudential Securities and Vice President, Management Internal Control of Prudential Investments. Prior to joining Prudential, Mr. Mosse spent 19 years with The Chase Manhattan Bank, N.A. where he was in charge of risk management and compliance for the Corporate Finance Sector, South America Regional Audit Executive, and Vice President, General Auditing.

Ken Radigan, PRM is CEO of PRMIA. He has held high-level posts in prominent multinational insurance corporations, and acted as a risk management consultant in the financial industry.  From 2014 to 2015, he served as the Chief Risk Officer (CRO) of the US and Bermuda operations of Aspen, where he developed and administered a risk management framework and headed multiple global functions, including the operational risk department. Previous to that, he held a variety of positions at AIG, ultimately serving as CRO of the Casualty and Global Risk Solutions divisions. 

Ken holds a B.A. in Mathematics from the University of Dayton, as well as numerous professional designations, including:  Professional Risk Manager (PRM), Chartered Property Casualty Underwriter (CPCU), Associate in Risk Management (ARM), and Associate in Surplus Lines Insurance (ASLI). 

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