Lessons learnt for Op Risk managers from the Global Financial Crisis and identifying key emerging threats

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Date/Time
Date(s) - Thursday, September 18, 2014
8:30 am - 11:00 am

Location
Mitsubishi UFJ Securities International plc

Category(ies)


The Institute of Operational Risk is pleased to invite you to a specialised workshop on the lessons learnt for Op Risk managers from the Global Financial Crisis on September 18th, from 8:30 am to 11:00 am, generously sponsored by Mitsubishi UFJ Securities International, a member of MUFG.

The title of the event is Lessons learnt for Op Risk managers from the Global Financial Crisis and identifying key emerging threats.

The Global Financial Crisis was marked by a spike in large Operational Risk losses. This interactive workshop session will be presented by Michael Grimwade and Maura O’Sullivan of Mitsubishi UFJ Securities International and will discuss the following topics:

–        Understanding why large Op Risks spiked during the Global Financial Crisis:

  • Which economic factors are drivers of some Operational Risks – Loss of liquidity? Falling markets? Rising credit defaults & unemployment?
  • How ‘real options’ can explain these sensitivities; and
  • What drove the scale of these losses – Length of time to discovery? Industry consolidation? Regulatory inflation? Depth of economic recession? Systemic industry-wide issues?

–        Identifying & discussing key emerging threats, including: regulatory change & new operating models; macroeconomics; new technology; and societal & political change.

–        Discussion of the lessons learnt for Op Risk Managers:  “Insanity is doing the same thing over and over again but expecting different results.” In the aftermath of the Global Financial Crisis Op Risk managers need to consider what they should do differently going forwards.

Michael Grimwade is International Head of Operational Risk for Mitsubishi UFJ Securities International. He has almost 20 years of experience in Operational Risk Management gained from senior roles at RBS and Lloyds TSB, and before that a decade as a management consultant working primarily at PwC and Deloitte Consulting.

Maura O’Sullivan is an Operational Risk Manager at Mitsubishi UFJ Securities International, with more than 10 years of professional experience in Risk Management. She started her career as an Operational & Market Risk analyst at EDF Energy, and has also worked for KPMG and Bank of New York Mellon.

 

Event agenda:

8:30 to 9:00: Coffee, pastries & networking

9:00 to 09:45: Understanding why large Op Risks spiked during the Global Financial Crisis

9:45 to 10:30: Identifying & discussing the key emerging threats

10:30  to 11:00: Discussion of the lessons learnt for Op Risk Managers

This event is free to IOR members.

For non-members there is a charge of £50.00. 100% rebate against membership fees is offered if joining the IoR within 1 month of attendance.

Location: 2nd floor Atrium, Ropemaker Place, 25 Ropemaker Street, London, EC2Y 9AJ.

Date:  Thursday 18th September 2014

Time:  8.30 – 11.00

It is anticipated that this will be a popular seminar and there is a limited number of spaces therefore you are encouraged to register as soon as possible.

We look forward to welcoming you on 18th September.

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