On the same team – achieving greater synergies between Risk, Internal Audit and the business

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Date/Time
Date(s) - Thursday, May 30, 2019
3:30 pm - 6:00 pm

Location
Deloitte LLP

Category(ies)


Overview

Firms have implemented different approaches and continue to evolve their risk management, oversight and assurance arrangements in order to support their evolving strategic and operational ambitions.  However, for many firms, their historical efforts have failed to deliver effective holistic risk management outcomes.
Some of the key contributing factors have included gaps in risk communication and understanding, ineffective allocation or acceptance of roles and responsibilities, and a consequential lack of sustained engagement and adoption of desired risk management practices.
In this session, we look at some of the key challenges firms have faced in harmonizing across the 3 lines of defense, including:
• Consistency in the risk definitions between IA and the RMF / Risk function
• Ownership of control matters across the first, second and third lines: allocation of design, implementation, testing, thematic validation and remediation responsibilities
• Accountability for and quality of risk profile and risk appetite reporting to the Board
Key takeaways:
• Harmonising Operational Risk Management across the Three Lines of Defense
• Achieving alignment: Can it work in practice?
Agenda
15:30 – 16:00 Registration
16:00 – 16:15 Welcome and Introduction
                       Kent Mackenzie – Partner, Deloitte
                       Bill Stirling – IOR Scottish Chapter Committee member
16:15 – 17:00 Harmonising Operational Risk Management across the Three Lines of Defence
                        Terri Fielding – Audit Partner, Deloitte
17:00 – 17:45 Q&A and Wrap up 
                        Bill Stirling – IOR Scottish Chapter Committee member
17:45 – 18:00 Networking
Bookings will be accepted on a first come, first served basis.

Bookings

Bookings are closed to the public for this event. Members should login to reserve a space.

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