Day One: Tuesday, October 15, 2024
10:30
15 min
Welcome and Opening Remarks from the Chair
10:45
60 min
OSFI’s Operational Resilience and Risk guideline (E-21)
Elspeth Bowler, Managing Director, Operational Risk Division, OSFI
- Outline OSFI’s operational resilience requirements
- Address risk mitigation strategies
- Emphasize compliance with E-21 guidelines
11:45
60 min
Comparison of AI Regulations using Large Language Models (LLMs)
- Analyze existing AI regulations across different jurisdictions using LLMs to identify key differences and similarities.
- Evaluate the impact of various regulatory approaches on AI development and deployment with insights generated by LLMs.
- Synthesize recommendations for best practices in AI governance by leveraging the comparative analysis provided by LLMs.
12:45
45 minBreak
13:30
60 min
Awareness and Identification of Emerging Risks
- Conduct regular risk assessments to identify potential threats and vulnerabilities.
- Monitor industry trends and market fluctuations to detect emerging risks.
- Engage stakeholders and gather feedback to raise awareness of evolving risks and their potential impacts.
14:30
60 min
A Framework to Connect Risk Appetite, Risk Limits, and Key Risk Indicators
- Define risk appetite thresholds
- Establish risk limits for various scenarios
- Implement key risk indicators to monitor deviations
15:30
60 min
Integrating Social Risk into Operational Risk Management Frameworks
- Identify potential social risks by conducting thorough stakeholder analyses and community impact assessments.
- Develop comprehensive risk management strategies that incorporate social risk factors into existing operational risk frameworks.
- Implement training programs for employees to enhance awareness and responsiveness to social risks within the operational context.
16:30
End of Day One
Day Two: Wednesday, October 16, 2024
10:00
10 minWelcome and Opening Remarks from the Chair
10:30
60 minUnmasking Fraud: Strategies for a Proactive Defense
- Implement fraud detection systems
- Conduct regular audits and investigations
- Educate employees on fraud prevention
- Strengthen internal controls and monitoring
- Respond swiftly to suspected fraudulent activities
11:30
60 minFrom the Ground Up: Cultivating an Operational Risk-Aware Culture
- Instill risk awareness through training
- Foster open communication about risks
- Encourage proactive risk reporting
- Embed risk considerations in decision-making
- Lead by example in prioritizing risk management
12:30
45 minBreak
13:15
60 minManaging the Risks of Emerging Technologies
- Assess the potential risks of new technologies.
- Implement robust security measures.
- Monitor technology performance and vulnerabilities.
- Adapt risk management strategies to technological advancements.
- Collaborate with experts to stay ahead of emerging threats.
14:15
60 minIntegrating ESG Risks into Operational Resilience Strategies
- Incorporate ESG risk assessments into resilience planning
- Embed sustainability principles into operational frameworks
- Align business practices with ESG objectives
- Monitor ESG performance indicators
- Adapt resilience strategies to address ESG risks effectively
15:15
60 minStrengthening Operational Resilience Through Simulation
- Conduct comprehensive scenario simulations
- Analyze resilience gaps and weaknesses
- Identify opportunities for improvement
- Implement enhancements to operational resilience
- Test and refine resilience strategies iteratively
16:15
End of Day Two
Post-Conference Workshop: Thursday, October 17, 2024
10:00
180 min
Operational Risk 101
This half-day workshop is for newcomers to operational risk, those wanting a career in operational risk, and for those where operational risk is now a part of their role or responsibilities, and for those who need to have a good understanding of effective operational risk management (ORM) programs.
This workshop will provide you with a meaningful understanding of operational risk management through experiential learning. By the end of the workshop, you will be able to: understand increasing regulatory expectations, discuss your challenges with embedding an effective ORM program, describe ORM building blocks and be an intentional and effective operational risk manager.
- 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