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From Risk Control To Risk Management
- An obligation becoming more critical: keeping everybody safe
- Road barriers and car steering wheels
- The ISO risk framework and its limitations
- A framework for handling identified risks
- The focus on capital requirements
- A few scenarios for the post-pandemic banking world, together with recommendations for handling these scenarios
Overview of the webinar
This can lead to following regulation to the detriment of managerial principles.: the former aims at keeping averting the most dramatic impacts, whilst the latter helps towards optimizing the risk profile of the enterprise at all times. Such confusion inevitably leads to using soothing risk management patches rather than fully understood solutions, to complacency in risk management, and it prevents progress towards understanding risk appetite.
Financial institutions, having to focus on risk regulation, often end up being content with identifying risk and maybe engaging into some mitigation measures after a significant mishap has occurred or when regulatory authorities get nervous. Keeping potential impacts within risk capacity limits becomes the key. However, whilst it keeps everybody at their jobs most of the time, this does not lead towards risk optimization.
We detail a framework for handling identified risks, highlighting the measures that are apt to merely satisfy regulators and the measures that fully take into account tail risks as well as routine risks, and the costs and benefits of controls. We also highlight the measures that merely consist at blindly throwing resources at risks.
Using the whole set of risk management tools, financial institutions can aim at a better understanding of potential profits and risks, likelihoods and potential impact, and hence be able to take the right amount of the risks that need to be taken, within their own risk appetite.
Who should attend?
- Risk Methodology
- Credit risk, counterparty Risk
- Market Risk Management and Analytics
- Risk Internal Audit — Quantitative Analysis
- Regulatory and Economic Capital
- Basel III
- Regulation & Compliance
- Operational Units Managers
- Financial Institutions Advisory
- Bank Supervision and regulation
Why should you attend?
Risk control and risk management: both terms are often taken interchangeably. Due to practical, managerial and brain-saving reasons, financial institutions have been accustomed to this simplification. This hasty assimilation of risk control and management is akin to, on the road, mixing up side barriers and the steering wheel. Neglecting the differences will have nasty consequences, especially in these unprecedented times. We highlight here the practical and financial benefits of digging into the difference, and the insights and benefits this could bring.
Faculty - Mr.Fred Vacelet
Fred Vacelet is a Financial Risk Management Consultant with international expertise in Risk Management methodological frameworks. His experience spans some 20 years, advising banks, software houses and others on risk management. Fred holds various degrees, including from London Business School, with post-graduate studies at the Technische (then West)-Berlin and Keio (Japan) universities. A qualified Islamic Finance person (IFQ), he is a magazine author on risk management and Basel Accords, and a regular speaker at conferences.
The client list includes ABN Amro, Barclays, CDC Paris, Credit Suisse, DePfa, Deutsche Bank, a few City hedge funds, IBM Consulting (Banking and Finance), Sungard, Lloyds TSB, National Bank of Egypt, the UK Regulatory body (now PRA), Reuters, and numerous other institutions of various countries and sizes. Fred runs training courses and workshops with participants from various banks around the world.