Agenda

Day One: Tuesday, October 25, 2022

10:30

15 min

Welcome and Opening Remarks from the Chair

11:45

60 min

Achieving Enterprise Resilience

Katherine Macpherson, Associate Partner, Canadian Non-Financial Risk Leader, Ernst & Young LLP

Pranathi Praveen, Manager, Financial Services Consulting, Ernst & Young LLP

  • Background & regulatory landscape
    • Global regulatory landscape
    • New and pending Canadian expectations
  • Operational Resilience ecosystem
    • “Operational Resilience” as a framework vs “operational resilience” as an outcome
    • Relationship between Operational Resilience and existing operational risk programs (i.e., ORM, IT/Cyber, TPRM, BCM/DR, and Conduct Risk)
    • Need for well defined interaction model
  • Practical tips and lessons learned from global implementations
    • 3 steps to establish your program
    • Lessons learned from implementing across the end-to-end operational resilience life-cycle
    • Demonstrating operational resilience

12:45

45 min

Break

13:30

45 min

AI Risk Management for Financial Institutions

Isaac De Souza, Artificial Intelligence & Emerging Technology Risk Officer, BMO Financial Group

Artificial Intelligence (AI) is one of the most powerful technologies being adopted today and will significantly impact the financial industry and society at large. In this session we will demystify the “black box” of AI, discuss the incremental risks it brings and how it impacts risk management, and what regulators and BMO are doing to ensure we safely and securely use AI.

15:45

45 min
Corina Farbacher

Risk Response Strategies

Corina Farbacher, Chief Governance and Risk Officer, Corporate Secretary, Affinity Credit Union

In order to effectively respond to operational and emerging risk, Risk management teams must stay on top of diverse and dynamic risks, constantly assess risk exposure, and provide practical guidance to their organizations on risk mitigation and response.

This presentation will also discuss  Board reporting and ensuring Boards of Directors expectations are met in their oversight responsibilities of operational risk.

16:30

Closing Remarks from the Chair

Day Two: Wednesday, October 26, 2022

10:30

min

Welcome and Opening Remarks from the Chair

11:30

60 min
Mandeep Mangat

Operational Risk and Financial Reporting Risk

Mandeep Mangat, Chief Control Officer, HSBC Bank Canada

  • Is Financial Reporting Risk same as SOX
  • Is Internal Control over Financial Reporting framework only for publicly traded companies
  • How Operational Risk Management principles apply to managing Financial Reporting Risk
  • Engaging key stakeholders and having regular meaningful conversations
  • What are the challenges and opportunities

12:30

45 min

Break

14:15

60 min
Beth Armstrong

2B or Not 2B: A Case for Line 2B

Beth Armstrong, Manager, Global Operational Risk Management, Manulife

In this topic we will explore the use of line 2B as an effective mechanism for risk management in both a mature and developing risk organization. Within the presentation, I will discuss:

  • What line 2B is within the 3 lines of defense model
  • The business case for 2B
  • What the regulators have to say about it
  • Key considerations for rolling out a 2B
  • My personal experience and lessons learned in developing the line within an enterprise level organization

16:15

Closing Remarks from the Chair

Workshop: Monday, October 24, 2022

13:00

180 min
Workshop

Operational Risk 101

Katherine Macpherson, Associate Partner, Canadian Non-Financial Risk Leader, Ernst & Young LLP

Sachin Baviskar, Senior Manager, Enterprise Risk Services, Ernst & Young LLP

  • Regulatory landscape
  • Operational Risk ecosystem
  • ORM value proposition
  • Foundational elements of ORM
    • Operational Risk Appetite
    • Operational Risk Taxonomy
    • Operational Risk Events (ORE)
    • Risk & Control Self Assessment (RCSA)
    • Key Risk Indicators
    • Scenario Analysis
    • Issue Management
    • Operational Risk reporting
  • User centric training
  • Characteristics of an effective operational risk manager

16:00

End of Workshop