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Risk Metrics - Identifying, Evaluating and Managing Risk Conditions
- Understand Risk Metrics
- Provide a conceptual framework to comprehend the value of risk metrics
- Establishing risk metrics as a key element of risk management
- Defining Risk Metrics
- Review the basic elements of risk metrics
- Types of Risk
- Review of risk metrics in the context of different types of risk
- Risk Metrics Applicability
- Review risk metrics in the context of risk environments
- Best Practices for Addressing Risk Metrics
- Thought process for establishing a set of risk metrics for a business activity
- Consequences of Ineffective Risk Metrics
- Potential impact of unidentified risk conditions
- Review of Actual Risk Metrics
- Display of a large sampling of generic risk metrics and risk metrics specific to a business activity
- Management of Risk Metrics
- Review how risk metrics should be monitored and evaluated and how risk conditions identified should be
addressed
- Role of business management and the risk management function to address risk conditions
Overview of the webinar
Risk is present in all businesses. The ability to identify the potential cause of a risk event occurring and take corrective action is critical to the risk management of a business or any operating entity. The cause of risk is typically the result of the presence of a risk condition which is a weakness in the conduct or management of a business activity that can precipitate the occurrence of a risk event. For each operating unit and business activity of an organization, as part of its risk management oversight, there should be a set of indicators that will help identify risk conditions in the organization. These indicators are called risk metrics.
There are a number of generic risk metrics that typically apply to any business activity and then there are others that apply to a specific business activity. Risk metrics should consider all types of risk which would include: market risk, credit risk, operating risk, technology risk, fiduciary risk, client relationship risk, legal/regulatory risk and guideline observance risk. Once a risk metric identifies a risk condition, it is then the responsibility of business management, together with its risk management unit, to undertake corrective action to address the condition. This risk identification and corrective action process will eliminate or reduce the potential occurrence of a risk event.
Who should attend?
- Executive Managers
- Business Managers
- Risk Managers
- Compliance Managers
- Auditors
- University Risk Management Educators
- Regulatory Staff
Why should you attend?
The US business environment as well as those of other counties have experienced significant risk events with substantial risk consequences over the years. In recent times there have been a considerable number of risk episodes. To the extent the risk conditions that caused a risk episode to occur could have been identified and immediate corrective action taken, the risk event may have been prevented or modified. Sound risk management practices together with a set of effective risk metrics could have possibly avoided or modified many of the risk episodes that were experienced.
This presentation allows the participants to reflect on the concept of risk metrics, to provide a blueprint for creating a set of risk metrics and to be given a large sampling of risk metrics that are employable. It is intended that the risk metrics displayed would help participants consider the generic risk metrics that would apply to their business as well as being helpful in considering risk metrics that could be used in their specific activities. This presentation is designed to help the formulation of a specific aspect of an organization’s risk management and should prove to be a helpful as a continued learning experience for individuals with responsibility for overseeing risk, for managing the risk environment and for providing risk education. Lastly, it provides an actual case study that will establish how a major risk event could have been avoided or modified, if Risk Metrics had been effectively employed.
Faculty - Mr.Robert Geary
Robert Geary is the founder of Greenwich Risk Management Advisory Services, LLC, and serves as the principal consultant on many of the firm’s consultancy mandates. He has been a banking and finance industry professional for 41 years and has spent 34 years with JP Morgan Chase & Co in various roles pertaining to senior treasury, financial market, asset management and risk management.
Earlier in his career, Mr. Geary managed Chase Manhattan Bank’s Euro and other offshore funding activities and was the bank’s first Asia/Pacific area treasury and financial markets executive located in Hong Kong. There for five years, he had overall functional management responsibility for the treasury, currency trading/sales activities and securities portfolios of Chase’s branches in nine countries in the region that included the major centers of Japan, Hong Kong and Singapore.
He has served on the board of directors of Chase Manhattan Overseas Banking Corporation as well as on numerous senior committees that included Chase’s Portfolio and Investment Strategy Committee, Tax Committee, International Asset/Liability Management Committee, Chase Investment Policy Committee, and Capital Markets & FX Risk Management Committee. Prior to joining Chase, he held positions at Chemical Bank, Chrysler Financial Corporation and National Bank of North America. Mr. Geary holds a BA degree in economics from Pace University and did graduate studies in finance at New York University Graduate School of Business. He is also currently a member of the Executive Advisory Board of St. John’s University Department of Accounting and Taxation.