Keynote Address: Emerging Risks Joe Iraci

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Overview

Volatility and disruption is the new normal and extreme risks are manifesting themselves at an alarming rate.  Firms need to be aware of emerging risks and to take these extreme but plausible risk events into consideration as part of the strategic planning process.  This presentation will discuss emerging risks and how to build a framework to help manage them..

Speaker

Joe Iraci, Managing Director Financial Risk Management, TD Ameritrade

Operational Resilience – Key Considerations for a World Class FrameworkGreg Matthews
Paul Fagone

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Overview

Events of recent months have challenged Financial Services firms with multiple disruptions at a far greater duration and breadth than were anticipated or planned for by Operational Resilience teams. Financial services firms reacted and responded swiftly to address the challenges posed in parallel across the organization. That said, the multi-faceted disruptions reflected dislocations – rather than a widespread lack of availability across any of the critical assets below. In short, while early analysis suggests firms were able to cope with the fallout from the disruption caused by COVID-19, and BCP plans for the most part were effective at mitigating disruption, strategies that address more widespread and longer duration scenarios are needed. Crucial to a successful Operational Resilience program is a framework that provides the necessary governance and focus, while enable a process that identifies and defines critical organizational services and assets, performs appropriate testing and assessment of those assets, and provides ongoing reporting of service remediation and enhancement.

Speakers

Greg Matthews, KPMG
Paul Fagone, KPMG

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Keynote Address: A Framework for Managing Technology Risk Erika Crandall

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Overview

With the continually changing technology environment and ongoing maturity of our understanding of risk, we developed a structure to enable a holistic look at technology risks that may be present in your environment and across the industry.  This framework enables you to collapse/expand based on your size, complexity and business structure, and works in conjunction with other risk frameworks available through the RMA..

Speaker

Erika Crandall, Chief Compliance Officer and Head of Risk, Reserve Trust

Bias in Machine Learning Models and Corrective MethodsKevin Oden

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Overview

All models but in particular Machine learning (ML) models run the risk of incorporating bias or unfairness in their outcomes. This is often driven by the underlying data used to train or calibrate the model. Since these models are not only increasingly used to make important decisions in our financial lives but also in other aspects like granting university admission, social benefit assignment, predicting risk of criminal recidivism, and part of hiring tools to review job applicant’s resumes, these biases have social, ethical as well as legal implications. This lecture gives a brief overview of the definitions of fairness used in the industry and some of the methods used to correct for unfairness in ML models.

Speaker

Kevin Oden, Kevin D. Oden & Associates, LLC

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Keynote Address: What Your Bank Needs to Know about Bank M&A Transactions Richard J. Parsons

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Overview

In 2019 the banking industry witnessed the highest rate of bank mergers in the U.S. since Congress passed the Riegle-Neal Interstate Banking Act of 1994 that opened the floodgates to interstate banking.  Some banking pundits believe the pace of bank mergers will accelerate over the next several years as the industry transitions into a new era of banking that requires greater scale and access to next-generation talent expert in the digital economy and Big Data.  This session will overview M&A trends as well as the forces shaping merger activity.  In addition, this session will introduce RMA’s new M&A Playbook which includes:   Five Questions Risk Executives/Bank Boards Should Ask and Debate Before a Bank Begins Merger Discussions   Ten Material Matters Every Bank Due Diligence Team Needs to Consider Before Acquiring a Bank   Merger Checklists  Two Often Overlooked M&A Risks .

Speaker

Richard J. Parsons, author of “Investing in Banks: Strategies for Bankers, Directors and Investors”

Engaging Your Line of Business for Information Security InitiativesKaitlyn Archibald

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Overview

Security cannot be done in a silo. The extent and nature of data shared across line of business functions both internally and externally fuels instances of system and organizational vulnerabilities. GRC must transcend the traditional lines of defense, specifically risk managers and audit professionals. In this webinar we’ll discuss roles and responsibilities of effective risk management practices. What can businesses do to better align key stakeholders? How can businesses incorporate Security by Design process and practices and where can technology support with structured data sets and automation?  What you will learn: Aligning organizational goals, and department objectives to translate risk into business impacts. Automating GRC touchpoints into your line of business functions. Integrating Audit to document and support continuous improvement initiatives. 

Speaker

Kaitlyn Archibald, Product Marketing Manager, OneTrust

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People Risk?  What you need to know to take a strategic approach to understand, measure and mitigate risk. Jennifer Aydelott

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Overview

People are considered an organization’s greatest asset; however people can also create significant risk for an organization if not understood, managed and measured.  This session will provide a different way of thinking about people risk through culture, conduct and metrics.  

Speaker

Jennifer Aydelott, Senior VP and Human Resources Control Executive, Wells Fargo

Cyber and the C-Suite: What Top Management Needs to Know About Cybersecurity Michael Carpenter

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Overview

What would one cyber breach do to your financial institution? How would your senior management team respond? This program will explain the responsibilities of executives and board members when it comes cybersecurity and disaster recovery resiliency. The risk posed by third-party vendors & why they must be managed The FFIEC Cybersecurity Assessment Tool Risk management as prevention Best practices for vendor due diligence rules and contract management How to work with your regulatory agency both during and between your exam cycles The operational, financial, and reputation risk costs of a cyber breach are staggering, making attendance for your financial institution’s C-suite essential.

Speaker

Michael Carpenter, CAMS, NCRM, NCCO, Ncontracts

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Board and Committee Reporting - An Art not a Science Anne Furlong

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Overview

Effective Board and Senior Management reporting is critical to ensuring your meetings are effective and you are leveraging the expertise the participants bring to the discussion.  It is more of an “Art” than a “Science”.    This session will provide an focus on three key reporting principles:  1) Knowing your audience,  2) Effective Reporting and 3) Overcoming Reporting Challenges and will include a discussion of best practices that could be applied to any institution.

Speaker

Anne Furlong, Senior Vice President - Risk Management & Compliance, U.S. Bancorp

Creating the foundation for Optimal Risk Decision-Making within a Complex Environment filled with Black Swans and Black Turkeys Stephany Head

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Overview

Most organizational infrastructures span a diverse range of service portfolios delivered through a large and widely distributed technical/digital structure. The scale and distribution of modern organizations has required that they function in a federated manner, with capabilities “customized” to accommodate needs at the enterprise, and the portfolio level. Today’s infrastructures have the characteristics of a “cyber ecosystem.” A cyber ecosystem comprises a variety of diverse participants – suppliers, processes, users, and digital and technology assets – that interact for multiple purposes to achieve a common organizational goal/strategy. Within a cyber ecosystem, the impact of risk may vary between the organization (principal) and the various components (agents) of its ecosystem. Traditional concepts of resiliency may not apply to a cyber ecosystem, and the fragility resident in the system itself may span and vary depending on the agent’s relationship to the principal. However, risk, particularly cyber risk is a human endeavor, the efficacy of security cannot be solely defined by use of automated cybersecurity tools. It is the human (risk manager) that uses the various toolsets, and data to support risk decisions (from mitigation to investments). This conference topic discusses the need understand, or at a minimum, acknowledge that there is a cognitive component to the identification, and management of cybersecurity risk; and this cognitive behavior in risk decisions may be a major determinate in the effectiveness and performance of the risk management process. “Cognitive risk management is the multidisciplinary focus on human behavior and the factors that enhance or distract from good outcomes.” Cybersecurity and resilience within the Enterprise Risk Management (ERM) framework, require that the organization add assumptions concerning cognitive limitations designed to account for specific anomalies in risk decisions. In other words, even with the best cybersecurity toolsets and data, it is still the risk manager’s ability to remove cognitive bias, and issues related to bounded rationality to ensure that the approach to risk management is optimal. Research has demonstrated that the central characteristic of risk managers is not that they reason poorly, but that they often act intuitively. And their behavior is not guided by what they are able to compute, but by what they happen to see and comprehend at a given moment. Understanding the cognitive component of risk decisions is even more critical to managing risk within the complexity of a cyber ecosystem, requiring first, second, and third party risk management.

Speaker

Stephany Head, Ph. D., President, OpRisk Associates, LLC

Preparing for the LIBOR Transition - Key Considerations for the end of 2021 KPMG

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Overview

Panel discussion with KPMG and industry practitioners to discuss the key challenges and considerations for the LIBOR transition as we enter the next phase of market development and planning.

Speaker

Ashley Schmider, KPMG; Chris Dias, KPMG; Chris Palmer, JP Morgan Chase; Jeff Kuzbel, Capital One; Edina Cavalli, TD Bank

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Digital Transformation of the Second Line of Defense Praful Mainker

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Overview

Compliance and risk functions can enhance their oversight of Financial Services by using some of the same principles which have transformed business operations over the last decade.

Speaker

Praful Mainker, Head of Compliance Monitoring–Analytics, Automation, Machine Learning, JP Morgan Chase

The Importance of AI and Privacy amid COVID-19 Swapna Maleker

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Overview

Artificial intelligence and Data have become an integral part of Fintech and other industries to provide exponential customer value and optimize experiences across multiple channels. However with data and AI come the risks of privacy breaches and unfair unethical usage for commercial purposes.  With the rise of COVID, governments, public health companies and other organizations are leveraging personal data to detect, monitor and prevent the spread of infections across the world. However is the use of AI ethical and conscious during this pandemic? Did we anonymize data, limit the collection of personal information, maintain individual’s right to privacy and eliminate biases from the equation? How can we create products and services that strike the right balance between providing immense customer value while maintaining individual right to freedom and privacy? This talk will focus on managing risks and creating customers experiences that leverage AI and data for the public good, both in fintech and beyond.

Speaker

Swapna Maleker, Senior Manager, Product, RBC

Business Driven Risk Management in a Digital World Ken McPherson

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Overview

In today’s complex and digital environment business leaders and CEO’s are required to anticipate and proactively mitigate risks before they occur. Yet the ever-increasing business essential Digital Transformation projects have tempted many organizations to circumvent their GRC/IRM program and rush into projects without a clear picture of the new risks they are taking on, or without the controls needed to manage those risks. Business leaders and CEOs can set their companies up for sustained growth and the benefits of Digital Transformation while keeping risk in check by quantifying the risk and prioritizing investments via business-driven decisions. Organizations that maintain a strong Integrated risk program for managing non-financial and compliance risk, whilst having the ability to present those business-driven dashboards and KPI reports to all stake holders will achieve desired outcomes promised by digital transformation.

Speaker

Ken McPherson, Chief Executive Officer and President, Iceberg Networks Corporation

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Interpretable Machine Learning Models: Managing data bias, conceptual soundness, implementation and change control Agus Sudjianto

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Overview

By this time Machine Learning (ML) has been widely adopted in Financial Institutions. The ML model is a non-parametric data driven approach as opposed to its counterpart of the traditional statistical model that has a tendency to be a parametric approach or at least with special care of functional form and input variable selection. To manage the risk of ML models, particularly in a regulated industry such as banks, special attention must be taken on their interpretability to ensure the soundness of the models. As ML models are very flexible to fit the data, unlike its parametric counterpart, models are changing when re-training is applied. Thus, model interpretability is also critical throughout the life-cycle of the models as model re-training is applied due to data shift.

Speaker

Agus Sudjianto, Ph.D., Executive Vice President, Head of Corporate Model Risk, Wells Fargo & Company

Agile Risk Management Azlina Wetmore

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Overview

The "Agile" methodology is said to have many benefits, including faster time to market, higher revenue growth, lower costs and more engaged workforce. However there have been few stories on how agile is successfully used by regulated financial institutions to implement change, especially in the context of risk management practices. The session discusses the opportunity and challenges faced by risk practitioners as they pivot from traditional methods to harness the benefits of Agile, as a way to operate in a dynamic environment.

Speaker

Azlina Wetmore, Head of Policy and Innovation, Capital One

Building a Change Risk Management Framework Mark Williams

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Overview

Given the amount and pace of change in our current environment, the need to effectively manage the risks associated with changes has never been greater. This session explores some ideas and approaches regarding establishing a framework to identify key changes in the organization and assess and monitor the risks associated with these changes. 

Speaker

Mark Williams, Chief Operational Risk Officer, Zions Bancorporation

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