Background:

Risk Management (RM) continues to evolve, marked by bouts of advancements, along with setbacks. Enterprise Risk Management (ERM) resulting largely from private sector initiatives, promises to potentially aid the advancement in RM and mitigate the risk of RM failures. Although ERM is yet to form part of the regulatory play book in an explicit sense, the recent regulatory emphasis on risk governance and risk culture are arguably the core components of ERM today. On another plane, while much of the risk management functions are largely dictated or influenced by regulations, ERM as an internal strategic program could potentially bind the silos of the risk management functions. In that direction, therefore, ERM could significantly raise the quality of banks’ ICAAPs which is the key component of Supervisory Review.

Objective:

This CAFRAL Virtual Program (VP) seeks to explore and deliberate upon these interesting dimensions of RM function, particularly in the intersections of strategy, performance, culture and, above all, governance and financial regulations. Starting with a quick review of the basics of ERM, the VP will expose participants to the new frontiers of risk related to cyber security, data privacy, outsourcing risk, climate change risk, reputation risk and strategic risk particularly, as part of conversations on Extended Enterprise Risk Management (EERM). This program is meant for top and senior management executives including directors on the Board and thus the learnings could have powerful impact on decision making at the highest level.

Highlights:

In the above backdrop, the Virtual Learning Program will be covering the following topics:

• ERM - Concepts and Evolution – Risk, Strategy and Performance
• COSO Framework, Basel Standards and ERM
• ERM - Risk Governance, Risk Culture, and Risk Messaging
• ICAAP, ERM and Supervisory Review
• Extended ERM of Third Party Risk and Cyber Risk Management
• Data Privacy, Data Risk and ERM
• Cloud Computing Risk and ERM
• ERM in the context of Controls, Audit and Compliance  
• Climate Change Risk and ERM