Webcast: A New Paradigm For Risk Governance - Rethinking Risk After The Pandemic
We’ve always known that risk is all around us. Some risks, however, are not readily anticipated and may be thought to be unlikely to materialise. Certain risks are assessed to have a major impact and can be highly disruptive. And, at times, risks can necessitate new ways of doing things or even give rise to new opportunities. The Covid-19 pandemic has undoubtedly affected all businesses substantially, whether in financial services or not. It’s been an event thought to be unlikely to occur – but it has had a huge impact and required a scale of response till now unseen. Importantly, the pandemic raises major questions about the effectiveness of firms’ risk oversight and monitoring activities.
At the end of 2019, the Risk Coalition published its principles-based guidance for risk committees and risk functions in financial services. Raising the Bar was published in December 2019 with the support of the regulators. At this discussion event, we’ll introduce you to the Risk Coalition’s work. Our panel of experts will discuss whether the Risk Coalition’s guidance might have better prepared financial services firms for the consequences of the pandemic, and consider how firms’ approach to risk oversight and risk management will need to change in future.
The online event will start at 1.00pm on 22 July 2020 and run for ninety minutes. The panel will discuss the issues and respond to questions and comments from participants for the first 60 minutes. The remaining 30 minutes will showcase the Risk Coalition’s new online tool, GABI (Gap Analysis and Benchmarking Insights), which enables firms to self-assess against the principles and guidance set out in Raising the Bar.
Hanif Barma is a co-founder at the Risk Coalition and partner at Board Alchemy. In relation to the Risk Coalition’s work, he developed the ‘coalition’ concept and led industry/regulatory stakeholder engagement. Hanif has over fifteen years’ experience in governance, working with boards, risk and audit/assurance focusing – aiming at reducing complexity and on achieving good outcomes. He also holds a number of board roles and is a member of various audit and risk committees. Hanif is also an Honorary Visiting Fellow at City University’s business school.
Liz Sandwith, is the Chief Professional Practices Advisor at the Chartered Institute of Internal Auditors. Liz has been an internal auditor for 30+ years and has a vast background in internal audit for both the public, private and financial sectors having worked at Bupa, Information Commissioner’s Office, Channel 5 as well as a number of local authorities and central government departments. She carries out training globally on behalf of training provider MISTI as well as for the Chartered IIA.
Robert Beattie is a senior audit and risk executive with a career spanning Banking, Insurance, and Nuclear Power. As Risk COO for Virgin Money, Robert believes passionately that well designed products coupled with fantastic customer experience can change lives and make our customers “Happier About Money”. Robert is in the process of re-casting the role of Virgin Money’s Risk function basing much of the development on the Risk Coalition guidance. His three mantras in the role are to: 1. Get Organised; 2. Get Fit (Digitally); and 3. Get Ahead. Purposeful leadership and building an incredible team to drive the change agenda are central enablers to transition through COVID-19 to our new operating model.
Cosette Reczek is an experienced risk management professional having worked in the field in financial services for over 25 years. In addition to her board governance and risk management advisory work as Founder of Permuto Consulting, she also works with risk in a non-executive capacity including Chair, Audit & Risk Committee and Board Trustee with Unicef UK. She is a Certified Company Secretary and a Form Tutor and examiner with the Financial Times Non-Executive Directors diploma programme.
22nd July 1pm to 2.30pm.
Panel Discussion: 1-2pm
GABI Demonstration: 2-2.30pm