Pre-conference workshop 2, March 23, New York

WORKSHOP 2: Data quality and data integrity - trends in simplifying operational risk and obtaining a better quality data - Implications for foundation risk management

Moderator: Diane Maurice, Operational Risk, FEDERAL RESERVE BANK OF SAN FRANCISCO

8:30 Registration and breakfast

9:00 Catching the right data and developing models for all data issues

  • Developing risk metrics to track drivers of operational risk (i.e. volatility and strategic change measures)
  • Data sources, limits of ILD, capturing Risk Control Self Assessments and other metrics
  • Alignment - operational and market risk data trends

Jitendra Rathod, Senior Examiner, FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)

10:30 Morning coffee break

11:00 Financial metrics, risk appetite metrics and data for scenario analysis

  • Tracking volatility trends and alignment with strategic risks
  • Risk appetite, financial trending, back to basics

Jack Freund, PhD, Lead IT Risk Manager, TIAA-CREF and Member, ISACA

12:30 Lunch

1:30 Losses: History repeats itself if lessons are not learned

  • Common mistakes and faulty assumptions in analyzing loss events
  • Why it's so important to get it right, including business performance and regulatory perspectives
  • How transparent are the interdependencies between business drivers, processes, risks and controls? Can causal or other contributing loss factors be practically traced back to the underlying process, risk and controls?
  • Systemic views, including incentives and understanding potential unintended impact (e.g. hidden risks)
  • Sources of best practices

Robert J. Gerden, Author and Former Senior Risk Executive at Wells Fargo, PNC, Nortel, Kroll Consulting

3:00 Afternoon coffee break

3:30 Big data analytics and how do you use it for operational risk

  • Quality assurance, engaging business perspective
  • Technology tracking and automation of trending
  • Lessons from market risk - does VaR matter for operational risk

John Sabath, Vice President of Regulatory and Operational Risk, GE CAPITAL

5:00 End of workshop

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