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Euromoney Learning Solutions

The Financial Academy - Chief Risk Officer

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Description

Fast-track your development to executive and board level with this in-depth programme designed specifically for current and aspiring Chief Risk Officers. This course is designed to help participants understand the best-practice essentials of undertaking modern and strategic, executive-level risk management (i.e. Chief Risk Officer duties).

You will learn how to implement an effective risk management framework. The course explains the simple step by step approach to succeeding in identifying the enterprise wide risks, what causes them, how to measure and predict the future (much easier than many risk professionals appreciate), and how to implement an appropriate risk culture in order to make best use of the framework.

You will learn the real reasons behind the failures of most banks’ risk management frameworks, and why many banks still rely on ineffective/dangerous approaches to risk management. You will learn how to identify the potential failures/deficiencies in your existing approach, and how to fix this.

Key course highlights include:

  • A simple step-by-step guide on how to implement an effective risk management framework
  • How to introduce and monitor the effectiveness of governance across the organisation
  • Full explanation (with rationale) as to the various roles & responsibilities within the organisation, including the three lines of defence.
  • Examples and practical exercises which are designed to develop a risk management strategy which aligns with the goals of the firm
  • Demonstration and examples of various tools and techniques for developing an effective risk management culture
  • Practical exercises designed to improve the effectiveness of the CRO during key board meetings and risk committees, including sample agendas, scripts, and terms of reference
  • How to determine if the risk management strategy is working, and how to fix it if not
  • How to ensure that all risks are identified and managed in accordance with risk appetite
  • How to identify deficiencies in the framework, including common reasons why most organisations fail to manage their risks effectively
  • The CRO role in relation to regulators, including what could/should a CRO do to prepare for regulatory interactions
  • A review of the most effective tools that should be used to determine the risk profile of the organisation.
  • How to implement stress testing, ICAAP and prepare for SReP
  • The future of risk management, some insights.

Day 1

Introduction

• What is the value of risk management when implemented correctly? • What is the cost when not?

The Role of the CRO

• Defining the CRO role and championing the importance of effective risk management in the organization • How to make risk a factor in strategic decision making • Risk culture • Defining the CRO Role • What is distinct about the CRO role? • How to ensure clarity, capability, and motivation? • What are the levers for a CRO to effect change? • Confusion with the other lines of defence (what are the business heads’ roles, and what are the roles of audit, and how do they differ? • In class exercise and practical examples • Using risk to make strategic decisions o Using Key performance indicators o Using Key risk indicators o Measuring the success of balancing risk o Effective risk management framework, the essential building blocks • What is the Role - Business as usual for the CRO - Managing expectations with the business areas • How to run effective meetings • Agreeing appropriate roles & responsibilities • What are the key challenges and how to overcome them

  Day 2

Building the Risk Function

  • Creating and/or restructuring the risk team
  • The relevant governance structures
  • Implementing an effective Board Risk Committee

    • Who should be on the committee?
    • What are their roles & responsibilities
    • What is the agenda
    • Questions to be asked and answered
    • Terms of reference and agenda items
    • Roles and responsibilities
    • Scripts for managing an effective meeting
    • Managing risk appetite
    • Developing a relevant reporting structure
  • Content of a solid, risk strategy report

  • The Executive-level structures

    • The CRO and the interaction with EXCO
    • Voices v votes
    • Supporting risk due diligence of strategic initiatives
    • Mapping out strategies
    • Strategic analysis
  • How do they relate to the CRO and to their other executive bosses?

  • Working independently with other executive-team members

  • Interacting with the heads of business, legal, and audit

  • Building trust

  • Creating gravitas   Day 3

Measuring risk

  • What is measurement? (Think you know? Think again)
  • Why is this the key skill of any risk professional?
  • How to measure anything
  • How to measure risk
  • How to predict future events
  • How to control future events
  • How to report risk to the board
  • How to use risk profiles to reduce costs, increase revenue, and keep the bank safe?
  • Comparing the existing dangerous approaches to risk measurement
  • How existing confident decisions are mostly wrong, and how to make the necessary changes in your organisation
  • Using credit, market, operational, and new proposition launches, discover how this approach to measurement can transform the way you manage risk.

Day 4

Building the risk framework

What are the various risk management framework essentials?

  • Risk and control assessments
  • Scenarios
  • Stress testing
  • Certifying your control environment
  • Assurance and testing
  • Playbooks
  • Risk modelling techniques and the pros and cons of each
  • Tolerances v appetite
  • o Agreeing effective risk appetite statements
  • o Reporting and governance

How to implement these effectively

  • Understanding their purpose
  • Common pitfalls
  • How to address common mistakes in an existing framework
  • Why your existing framework may be creating a future disaster
  • Achieving the correct balance between risk and reward

How to sell their importance and ensure buy-in across the organisation

How to test the effectiveness of the framework

What are the common problems with current methodologies and tools

  • Case studies
  • Examples

How to manage risk during the period of transition

Day 5

Developing awareness of the relevant risks

Operational risk

  • What are the most material operational risks?
  • What causes them?
  • Examples from other banks
  • What can you learn from this?
  • How to predict the events, and prevent them accordingly

Credit risk

  • What are the most material credit related risks?
  • What causes them?
  • Examples from other banks
  • What can you learn from this?
  • How to predict the events, and prevent them accordingly

Market risk

  • What are the most material market risks?
  • What causes them?
  • Examples from other banks
  • What can you learn from this?
  • How to predict the events, and prevent them accordingly

Reputational risk, compliance risk, conduct risk: how to manage these?

Stress testing, ICAAP and SRep

Compliance (Examples)

  • Basel 3/4/5 and beyond
  • IFRS 9
  • Dodd-Frank
  • SOx

Course summary and close

Experts

Allan is a highly experienced leader, speaker, and risk professional. He has advised and held some of the most senior risk roles in global retail banks, fund managers, and investment banks, including Barclays, Lloyds, Fidelity, JP Morgan, Mellon, Citizens, and is currently a trusted adviser to RB...

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