August 09, 2007
PRMIA join with CBRC for operational risk forum
On the 26th July, 2007, the PRMIA Beijing Chapter organised its inaugural event – a whole day forum on operational risk management practices with an emphasis on practical aspects of implementation relevant to Chinese requirements.
The forum was held at and under the endorsement of the China Banking Regulatory Commission (CBRC), the Chinese regulator for banks, and was attended by an invited audience of over one hundred of those responsible for operational risk in banks in the Beijing area as well as delegates from those universities in the process of forming affiliations with PRMIA or incorporating PRMIA’s accredited risk management qualification, the PRM, in their teaching plans.
Four powerful speakers with international experience of implementing operational risk management practices were invited to speak:
Jordi García Ribas, Head of Operational Risk at Banco Bilbao Vizcaya Argentaria (BBVA) and Vice Chair of the Operational Riskdata Exchange Association (ORX)
Walter Dutschke, Head of Operational Risk Management at West LB
Robert Verity, Operational Risk Consultant at HSBC, at previously implementation manager of operational risk processes at American Express
Santiago Carrillo Menendez, Professor of Risk Management at the University Autonoma of Madrid (RiskLab)
The forum was hosted and chaired by Luo Ping, Acting Head & Deputy Director General, Training Center & International Department at the CBRC who also summarised the presentations, and was moderated by Stephen Fox, Manager for Operational Risk Solutions at Algorithmics (Australasia) and David Millar, Chief Operating Officer at PRMIA.
At the request of the CBRC, the forum would focus on issues relevant to the Chinese situation, i.e. how to implement operational risk across a large number of users, and can we learn from the experiences of others – and to concentrate of the Basic and Standardised Approaches to operational risk capital quantification as China would not be implementing the Advanced Measurement Approach until later.
The speakers followed a logical pattern: Verity described the project management criteria of developing and implementing an operational risk programme for a (Basel II) Basic/Standardised Approach; Carrillo then looked at the data collection and data management issues encountered by a firm implementing the lower Basel II operational risk approaches; Garcia then looked at the setting up of the risks, events and losses databases and the use of external data; and Dutschke described the various possible incentives that could be used to ensure accurate data and motivated management.
The slide presentation of the four speakers are avaliable at the Beijing "Past Events and Presentations" link on the left side bar.
Videos of the introductory presentations, most of the above presentations and the final panel discussion are available from this page.
Posted by at August 9, 2007 02:50 PM