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A lot of excellent information was presented. Great resource material to follow up on. - Associate Vice-President, Financial Services
University of Saskatchewan
 
 
 
13th Annual Event!

Operational Risk Canada 2018

Advance Your Knowledge in Operational Risk Practices in the Current Regulatory Environment

October 16-17, 2018 · Optional Workshop: October 15, 2018 · Toronto, Ontario
 
   
 
Day Two Program Agenda: Wednesday, October 17, 2018
   
8:00 - 9:00        Continental Breakfast
 
9:00 - 9:10
Opening Remarks from the Chair
Andrew Richardson, Former Vice-President, Enterprise and Operational Risk Management, Coast Capital Savings
 
9:10 - 10:10
How Operational Risk Can Create Value in Today's Risk Environment
Gerard McDonald, Head Risk Transformation, Canadian P&C, BMO
  • Execute a more proactive, integrated and sustainable approach to operational risk
  • Inform strategic decision making
  • Set clear objectives and maintain discipline around strategic priorities
  • Manage mature risks cost effectively to free up and reallocate staffing and investment
  • Create a strong predictive risk function to identify emerging risks
  • Articulate clear roles and responsibilities for each line of defense
  • Revise incentives to lock in the behavioural changes needed
 
10:10 - 10:30        Networking Break
 
10:30 - 11:30
Implementing a Three-Lines-of-Defence Model: Experiences and Challenges
Esther Tock, Senior Director, Global Operational Risk Management, CIBC
  • A simple concept but not so simple model
  • Although it seems like we have all been at this for a very long time it really has not been all that long in a historical sense
  • Struggles with taxonomy and overlapping risk types
  • Ensuring people understand the importance and concepts associated with three lines
  • It's a marathon and not a sprint to get it right and the maturity model
  • The importance of clarity and the need not to over complicate the three lines of defence
  • What's next?
 
11:30 - 12:30
Financial Crimes: An Update on the Current Landscape
Andres Betancourt, Senior Audit Manager, AML specialist, and Certified Financial Crime Specialist, Scotiabank
  • Auditing perspective on virtual currency
    • point of entrance into financial institutions: assessing risk identification and monitoring
    • multiple jurisdictions
  • Cannabis-related business - new legislation - establishing a robust identification framework
  • Anti-money laundering (AML) approach to identifying and monitoring new players in financial institutions
  • Private-public partnerships
    • active participation with law enforcement to mitigate emerging risks to financial institutions i.e. Project Protect, Project Guardian,
    • Project Chameleon, Project Organ
    • enhancing awareness about emerging risk throughout the institution
    • improvements to monitoring of transactions and typologies
 
12:30 - 1:30        Luncheon Break
 
1:30 - 2:30
Key Risk Indicators (KRIs) for Data Analytics
  • In-depth understanding the value adds and objective a KRI process
  • Key components of a KRI capability in the context of data analytics
  • How KRIs integrate into the ERM framework
  • Identifying and designing an effective and powerful group of relevant KRIs
  • Various types of KRIs and how to categorize them
  • Identifying and implementing strong leading KRIs
  • Designing a KRI process from collection and recording to reporting
  • Setting appropriate thresholds to reflect risk appetite and risk tolerance
  • Reporting KRIs in a meaningful way
  • Predictive analytics and the value to big/good data
  • Carrying out effective KRI identification workshops with management teams
 
2:30 - 2:45        Networking Break
 
2:45 - 3:45
Emerging Practices in Operational Risk Management Tools
  • Operational risk taxonomy: a common language of sources aids with consistency of risk identification and assessment activities
  • Risk and control assessments: typically used to assess inherent operational risks and the design of mitigating controls
  • Change management risk and control assessments
  • Internal ops risk event collection and analysis
  • External ops risk event collection and analysis
  • Risk and performance indicators
  • Material business process mapping
  • Scenario analysis
  • Quantification/estimation of ops risk exposure
  • Comparative analysis
 
3:45 - 4:45
CASE STUDY
EDC: Implementing Three Lines of Defence Governance at a Federal Crown Corporation
Jackie McGinn, Director, ERM Transformation, Export Development Canada
Marion Beckett, Senior Risk Analyst, ERM Transformation
  • Key drivers for change
  • Implementing sound governance in a non-regulated environment
  • Evolving a risk aware culture
  • Challenges in managing transformational change
  • Approach to operational risk management
 
4:45 - 5:00
Closing Remarks from the Chair
 
5:00        End of Day Two
 
 

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Operational and compliance risks have become more complex and entwined, increasing the potential for failed processes that govern control breakdowns. Silo mentality is in itself a risk and the operational risk leader is in a unique position to provide their enterprise with a holistic governance approach that brings together the entire risk portfolio. You need mitigate risks with an eye on the big picture. Cybersecurity ranks as the #1 priority for financial institutions today, permeating the breadth of every function across your organization. Many risk leaders without technical skills are overwhelmed by the scale of the potential threat.

Infonex's annual Operational Risk Canada will provide you with strategies to focus your cyber efforts. Canadian financial institutions, once immune to the scandals plaguing out of country, are now in the spotlight for their misconduct and mis-selling. Hear how you can improve conduct, culture, and customer experience; not in isolation, but combined to truly seize a competitive advantage. As big data drives the demand for financial institutions to be like tech companies, your risks under the technology umbrella, increase. You need best practises on how to keep up with the moving target of IT risk. Third-party risk management is an ongoing area of concern and we have thought leaders to address what is emerging on this front, into 2018.

Our Operational Risk Canada agenda provides something for early to advanced learners in ops risk, tokens of wisdom for various stages of OpRisk implementation, as well as focused areas for risk so your entire team will be engaged. As OpRisk Leaders, you have been honing the discipline of enterprise risk as a matter of practice. Your contributions to the strategic risk mitigation of your organization have never been more in focus.

As a leader with risk oversight you are in a constant need to strengthen your systems against dynamic, ever-changing risks. Join us in Toronto and get guidance on your most pressing operational risk challenges. Register today!

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