In the current economic and political environment, there are many potential sources of disruption to test the ERM capabilities of our financial institutions. Combining these forces with the rapid pace of technological change means that how we respond to risk is critical, as reputation as well as financial consequences are often at stake.

During the past 12 months, there have been a number of well publicised local and international examples with a large range in the quality of companies’ responses – with some less than optimal.

Given this background, we believe that the theme of this year’s ERM Seminar, “Responding to Risk” is very timely. The organising committee is again assembling another excellent program for the purpose of providing useful assistance to ERM practitioners.

The seminar will also include the presentation of the findings of our first CRO survey.

Quick Links

Program

CEO Letter

Delegate List

Keynote Address

Ian Laughlin - Chairman of ANZ's OnePath life and general insurance companies and ANZ lenders mortgage insurance company  and Chairman of the Advisory board of risk management and board performance advisory firm Blackhall and Pearl.

(Fake)n News, Social Risk, and more

The nature and sources of risk in financial services continue to change in a world that is evolving very quickly. Is this one reason why we are seeing such criticism of financial services businesses? Do established risk management models cope well with the current world?  What might be done to adapt?  What might be done to give boards and management earlier and deeper insights into risks in their business?

Conduct Risk

Plenary 1: Conduct Risk

Darren Williams - Head of Risk, Wealth Advice and Distribution, ANZ
Edward Emanuel - Partner, Oliver Wyman

Conduct has been a global issue for several years now, with a significant impact on the affect firms. Conduct risk interacts with risk culture, remuneration structures, risk management more generally and community expectations. In this session two speakers will provide their perspectives on this risk and the industry response.

 

Plenary 2: Regulatory Update on Risk Culture

Fahmi Hosain - Head of Governance, Culture & Remuneration, APRA
Greg Yanco - Senior Executive Leader - Market Supervision, ASIC

In recent years both APRA and ASIC have increased their focus on risk culture.
APRA’s Information Paper in October 2016 describes its intention to strengthen its capacity to assess various institutions’ risk culture, and where necessary to provide supervision for those institutions that need assistance.
ASIC likewise is also very interested in governance, conduct and culture and is particularly focused on organisations that are undergoing change either through technology or from new regulations.
This regulatory update from representatives of APRA and ASIC is therefore very timely and relevant for all organisations in enhancing their ERM response plans. The session will include an update on APRA’s pilot reviews on risk culture.

 

 

Paradigm

Plenary 3: Responding to Paradigm Changes

Warren Dresner - Director – Head of Broking, Willis Re
Stephen Britt - Senior Manager Economic Capital, IAG

While the traditional ways of modelling and capital management have been effective in the past, will they continue to be in the future?
There are a number of risks which challenge old paradigms in the current environment and for the more disruptive risks, the financial and non-financial consequences can be costly if they are not managed appropriately.
The focus of this session will be twofold, firstly, there are the practical considerations when capturing the changing external environment in models. Secondly, we will consider current low interest rate, the resulting changes in sources of capital and capital management.

 

Plenary 4: How Resilient Organisations Respond to Risk

Tony Harb - Director, InConsult
Saskia Goedhart - Chief Risk Officer, AMP
 Eric Pinkerton -  Regional Director NSW, Hivint

Being robust and able to recover quickly from risk events is crucial to how any business ensures a successful outcome when the worst happens. We will hear from three speakers on key factors associated with being resilient  - strategic planning, business continuity and how to protect your business and its data in the cloud.

 

Plenary 5: CRO Survey

In recent months the Actuaries Institute ran its inaugural CRO survey. This asked the CROs of Authorised Deposit-Taking Institutions (ADIs), life insurers, general insurers and private health insurers a short series of questions about their approach to risk management. In this session we will summarise the responses and discuss their implications.

Plenary 6: Organising the Response to Risk

Nicolette Rubinsztein - Vice President, UniSuper
Jacob Mamuti - Principal, Finity
Rob Curtis -  ASPAC Insurance Risk & Regulatory Lead, KPMG
Dominique Fox - Executive Manager, Risk and Compliance, at Westfund Health Insurance

Do current organisational structures support sound risk management? Alternatively, how can governance structures be enhanced to assist organisations in responding to risks? What lessons can be learned from overseas best practices?

Can a lack of board or management renewal hinder sound risk management?

Our concluding session will address these and other important issues about the interaction between management and the Board.

 

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Keynote and Plenary Speakers

 Stephen Britt Warren Dresner Saskia Goedhart Tony Harb Paul Hurrell Fahmi Hosain Jacob Mamutil  Greg Yanco