Road to Strong Operational Resilience at Regulated FIs

This webinar, Road to Strong Operational Resilience Management at Regulated Financial Institutions, will cover key aspects of a journey towards developing and maintaining a strong operational resilience at FIs.  The prominent panelists will discuss the evolution of regulation and the frameworks from a narrowly defined operational risk capital and solvency adequacy towards the enterprise’s operational resilience.
 
  Date:
May 22, 2024

  Time:
10:00 - 11:00 a.m. EST
3:00 - 4:00 p.m. GMT
 

  Presented By:
Moderator:     Dr. Alex Shipilov, University of Toronto

Panelists:       

Elspeth Bowler, Managing Director, OSFI
Jean-Baptiste Petit, Head of Group Operational Risk Management, AXA
Tracey Chinman, VP, Operational and Non-Financial Risk, Home Trust Company
Dr. Rafael Cavestany, CEO, The AnalytiX Boutique

 Session Length:
60 minutes

 

About This Webinar

There has been a shift in the paradigm at regulated financial institutions (FIs) from stability towards resilience management. The stability assumed implicitly a static, predictable and rigid business model that has all kind of buffers and cushions to withstand possible shocks in a stable environment. The operational and financial resilience, on the other hand, is the ability of an FI to dynamically handle ongoing internal and external disruptions in an efficient and effective manner.

In summary, an FI’s stability is related to maintaining normal operations in ideal, stable conditions, while the resilience is more focused on managing disruptions and recovering from setbacks in a sustainable manner.

The need for resilience management at FIs and changes in the supervisory frameworks are driven by destabilizing market and geopolitical events happening over the recent history. They included unprecedented injections of liquidity, COVID responses, speed of change in interest rates, regional war conflicts, and breakage of global supply chains. All major regulators in North America, Europe, and the U.K. have recently published specific policies, target rules, draft guidelines, and regulations where they expressed their expectations with respect to the Operational Resilience Management in respective financial sectors.

This webinar will cover key aspects of a journey towards developing and maintaining a strong operational resilience at FIs.  The prominent panelists will discuss the evolution of regulation and the frameworks from a narrowly defined operational risk capital and solvency adequacy towards the enterprise’s operational resilience. Some basic questions and practical implications will be reviewed:

·       What would it take to develop and maintain a strong operational resilience with respect to the FI’s governance, people, key processes, technology, third-parties, cyber and data management?

·       How should all three risk and control lines be aligned to ensure an agile and effective operational resilience?

·       What do we need to review and modify internally to move from a rigid stability focus to an adaptable and strong resilience?

About Our Experts  

  
 
 

Dr. Alex Shipilov is an Adjunct Professor at University of Toronto and a co-founder of PRMIA and IMODX. Alex has held executive positions with banking, insurance and accounting firms and led risk management, internal audit functions, and quantitative risk advisory practices. He has also consulted financial institutions, cryptocurrency exchanges and corporate treasuries in Canada, the U.S., the U.K., Spain and Russia.

 

Elspeth Bowler is a Managing Director, Operational Risk Division, with the Office of Superintendent of Financial Institutions (OSFI) that regulates and supervises approximately 400 federally regulated financial institutions and 1200 federally regulated pension plans in Canada. Prior to joining OSFI, Elspeth had extensive experience in the financial services industry in the areas of reporting, planning, financial initiatives, and capital.

 

Jean-Baptiste Petit has 20 years of experience in Risk Management in the Financial Service industry. He is currently Group Head of Operational Risk Management at AXA Group. Previously, he had various roles within Operational Risk and Financial Risk Management areas. AXA is a multinational insurance and asset management company headquartered in Paris, France. AXA operates in 51 countries and serves over 93 million individuals and businesses worldwide.

 

Tracey Chinman has over 20 years’ experience in the financial services industry, with global experience in both ERM and Internal Audit.  She joined Home Trust Company in 2013, and is currently the VP, Operational and Non-Financial risk.  Tracey is responsible for building organizational capacity for managing non-financial risks and promoting a sustainable risk culture.  Prior to joining Home Trust Company, Tracey held various senior positions in medium sized and large financial institutions in South Africa and Canada, including leading operational risk model validation team, operational risk internal audit team, and leading an ERM function. Tracey has a Bachelor of Science, a Bachelor of Accounting Sciences and has a CPA, CA and ICD.D designations.  Tracey is a Board Member of two not-for-profit organizations, providing her expertise in risk management and finance.    

 

Dr. Rafael Cavestany is a founder and CEO of The AnalytiX Boutique – a software vendor specializing in Operational Risk and Resilience software solutions, that is ranked as one of the top solutions by Chartis in 2024. It has also been earning the Operational Risk Technology awards from Risk.net for several years. Rafael has over 20years of experience in the financial services industry. He has worked on projects for leading financial institutions in the USA, Canada, Europe, Latin America and South Africa in the development of risk management analytics solutions, with a special emphasis on economic capital and operational risk modelling. Rafael authored "Operational Risk Capital Models", RiskBooks, 2020, 2nd Ed



 

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When
5/22/2024 10:00 AM - 11:00 AM
Eastern Daylight Time
Where
Thought Leadership Webinar
 

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