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Course Agenda
Agenda
September Course Agenda
Agenda timing is in BST
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Session one - 2pm BST/ 9am EDT
Session two - 3.15pm BST/ 10.15am EDT
End - 4.15pm BST/ 11.15am EDT
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14:00 – 15:00
Operational resilience and the regulatory landscape
- The role of operational resilience and its importance
- The regulatory story so far
- BCBS
- Americas
- EU
- UK
- Challenges and opportunities of operational resilience
- Building operational resilience into strategy and business plans
- The importance of a holistic approach to operational resilience
15:00 – 15:15
Break
15:15 – 16:15
Operational resilience frameworks
Jenny has worked in HSBC for 23 years and has had a number of roles within the Bank over that period. She worked initially within the IT function, focussing on project management and support. She then moved into Internal Audit, where she spent 10 years undertaking global and local business, IT and project audits. She then undertook a 12 month secondment to Vietnam to assist a local Bank in establishing a risk-based Internal Audit department, following which she returned to the UK in 2009 and joined the European Operational Risk team, oversighting the Banks supporting functions including IT. Since then Jenny has alternated roles between the second and third line of defence, with spells as the Head of Operational Risk Audit and more latterly the Head of Three Lines of Defence Execution, Operational Risk, responsible for implementing and embedding the Bank's Three lines of Defence model and the current operational risk management framework across the Bank.
14:00 – 15:00
Identifying and mapping importance business services
- Identifying and ranking most important business services
- Ascertaining the users of each service
- Developing a robust methodology for identification
- Mapping the people, processes, technology, facilities & information needed
- Expectations for firm’s mapping methodologies
Amy is a Senior Technical Specialist advising the development of operational resilience policy in the UK financial sector. She represents the UK on the Basel Commission on Banking Supervision (BCBS) Operational Resilience Group (ORG) in the development of international banking policy for operational resilience, and leads the ORG’s work to develop metrics for operational resilience. Amy also supports supervisors of UK firms in engaging on operational resilience, meeting with firms to discuss and challenge their resilience strategies.
Prior to this Amy led the development of PRA supervisory tools, ran the UK Financial Services Authority (FSA) resilience benchmarking initiative and was responsible for planning and logistics of the 2011 market-wide exercise. Before joining the FSA, Amy consulted with large corporates providing broader organisational resilience assessments and benchmarking.
Amy has a Ph.D. in ‘Measuring and Benchmarking the Resilience of Organisations’ from Canterbury University in New Zealand and a BSc in Development and Health in Disaster Management from Coventry University in the UK.
15:00 – 15:15
Break
15:15 – 16:15
Impact tolerances
- Difference between impact tolerance and risk appetite
- How to set impact tolerances
- Setting impact tolerances
- Challenges
- Benefits
- Who is responsible for setting impact tolerances?
- Which metrics should firms consider?
Michael Sicsic is a senior executive in the field of risk and regulation in the financial services sector. He has a deep understanding of business models in the retail financial sector and its related risks.
Michael has founded Sicsic Advisory, a London based boutique consultancy focusing on financial services risk and regulation, in 2019. His team has a unique combination of expertise gained through direct industry experience, consulting roles and regulatory supervision leadership role in the UK retail finance market. Michael is the former head of supervision for the general insurance retail sector at the Financial Conduct Authority (FCA). Previously, he held the position of Global Operational Risk Director at Aviva Plc., covering Life Insurance, Asset Management and Non-Life insurance.
Formerly, he worked for over 10 years at GE Capital in various senior risk and finance positions across commercial and corporate finance activities.
14:00 – 15:00
Scenario testing
- Developing a scenario testing approach
- Extreme but plausible disruptions
- Focusing on response and recovery activities rather than preventing incidents
- How to respond to disruptions
- Testing your firm’s ability to remain within impact tolerances
15:00 – 15:15
Break
15:15 – 16:15
Learning from operational disruptions
- Investigating reasons for failures
- Proactive learning from incidents
- Collaboration with regulators
- Aggregating data on failures and near misses
- Sharing best practice approaches and lessons from other industries
Charles is currently the Group Head of Operational Risk at Allied Irish Banks.
Previously, Charles was with UBS and held a number of roles including Head of Shared Services Operational Risk for the global Investment Bank and UBS UK, Group Head of Third Party Risk and COO for Data Operations & Technology and the Client Data Confidentiality programme. Before joining UBS, he was with Ernst & Young in the Risk & Regulatory Advisory practice. He has previously held roles managing risk, operations and technology for Goldman Sachs, JP Morgan and Barclays Capital.
Charles began his career at the United Nations managing technology and operations projects to support military peace-keeping operations and humanitarian relief programmes.
14:00 – 15:00
Effective communication
- Developing communication plans for plausible disruptions
- Clear and effective communication during a crisis
- Focus on timeliness, regularity, and clarity
- Informing internal and external stakeholders
- Proactive interaction with regulators
15:00 – 15:15
Break
15:15 – 16:15
Non-financial risk and operational resilience
- Non-financial risks and their characteristics
- How does non-financial risk and operational resilience overlap?
- Deep dive into resilience related risk types:
- Pandemic threats
- Cyber risk
- Technological innovation
- Third party risk
- Climate change risk