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Effective use of Key Risk and Control Indicators in managing operational risk led by Theresa O'Rourke, Managing Director, Operational Risk Management
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8:30
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Registration and breakfast
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9:00
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Setting the Foundation
- Terminology - Importance of a Common Language
- How Indicators Fit into the Operational Risk Framework
- Understanding Organization Level Importance (Board versus business reporting)
- Turning OR data elements (losses, issues, evaluation findings) into Indicators
- Practices on setting thresholds & triggers
- Roles and Responsibilities for the 3 Lines of Defence
- Interactions with other Metrics Initiatives
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10:30
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Morning coffee break
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11:00
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Usage of Indicators in Operational Risk Framework (Part I)
- Risk & Control Assessments - both general and targeted
- Portfolio Analysis - Correlation, Anomaly & Similarity
- Scenario Analysis & CCAR
- Capital Process
- Reward & Penalty Structures (ie incentive compensation)
- Governance & Oversight (eg resource decision making, escalation)
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12:30
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Lunch
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Panel discussion: KRIs - case studies, practical advice and success stories
- What other institutions are currently doing within their oprisk programs
- What Indicators are used
- Gathering information and putting the plan into action
- How to implement, obstacles and challenges
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3:00
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Afternoon coffee break
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Usage of Indicators in Operational Risk Framework (Part II - continuation)
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4:00
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Lessons from recent enforcement actions
- Recent enforcement actions and your policies and procedures
- International enforcement trends
- Managing AML successfully
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5:00
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End of workshop
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