Theme: Value creation through embedding risk culture in the organization

The Nigerian Chapter held a very successful Annual Operational Risk Conference at Ikeja Sheraton Hotels and Towers on December 3, 2014. The theme was: “Value creation through embedding risk culture in the organization”. An all day event which was kicked off by Edima Ben Ekpo (Nigeria Chapter Head) with the Opening address that centred on information about IOR, Nigeria Chapter, benefits of joining the body and Conference content.

The 1st paper titled “An overview of the new Basel changes in operational risk capital calculation and the building blocks for compliance” was presented by Ademola Adeniran Director, Deloitte. The presentation gave a simplified view to the computation of OR Capital under the revised Standard Approach highlighting the differences between TSA and RSA. Kevin Ugwuoke, CRO Mainstreet Bank Limited presented a paper “The Three Lines of Defence is Integral to the DNA of the Firm. Kevin was able to demystify the 3 lines of defence that has become a recurring decimal in Risk Management Frameworks without the tangible benefits espoused. It was a truly enriching session as there were contributions here and there and the whole conference was in agreement that a lot needs to be done in ensuring the adequacy of the 3 lines of defence.

A presentation on Operational Risk and Strategic Planning anchored by Eneni Oduwole was enriching as this came from the perspective of the Financial Services Professional now in the Manufacturing Sector. SAP and Northern Sparks Limited also made presentations on supporting Operational Risk Management within GRC framework of an organisation. There was a break out session of 2 teams coordinated by Niyi Olalemi on Sustainable Banking.

The event was sponsored by SAP, Northern Sparks and Deloitte. There were 50 attendees in all.

The conference was a success as attested to by various participants and the take away is unquantifiable.

Presentations from the event are available to members. Click here to view the presentations.

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