An economic crisis situation, such as COVID-19, has serious implications for companies and financial institutions. With the arrival of IFRS 9/CECL, banks have to work even harder to assess the potential financial impact of such crises on the overall economy and their balance sheet, loan and policy portfolios, and take risk mitigation decisions accordingly. These new accounting standards are being stress-tested by a live crisis and the resulting financial figures recently posted by leading banks are clear proof of the volatility and sensitivity embedded in these standards. Furthermore, behind these forward-looking calculations there are modelling assumptions, which prevail in normal times, however, may prove impaired in the context of extraordinary uncertainty. As a result, these institutions and their decisions are  increasingly exposed to model risk. At the same time, the emergence of Climate Change Risk management and the related regulatory initiatives are creating yet another set of challenges for ERM professionals to address. The regulatory climate risk stress testing exercises are a clear example of the attention given the Climate Change topic by the leading global regulators. 

Key topics addressed in this webinar: 

• Recent industry & regulatory developments
• Forward-looking Risk Management during crisis period
• Impact of Climate Change Risk Stress Testing & Scenario Analysis on ERM
• Increasing relevance of Model Risk Management for ERM
• Next steps in ERM & future outlook

About Our Expert
		Peter Plochan is the EMEA Principal Risk Management Advisor at SAS. He helps financial institutions deal with their challenges around finance and risk regulations, enterprise risk management, risk governance, forward-looking risk analysis, stress testing, model risk management, risk modelling, as well as climate change risk management. Peter has a finance background, a Master’s degree in Banking, and is a certified Financial Risk Manager (FRM) with 14 years of experience in risk management in the financial sector. He has assisted various banking and insurance institutions with large-scale risk management implementations while working both internally and externally as a risk management advisor (PwC). Since joining SAS in 2014, Peter has served as a global acting domain expert—leveraging the latest trends in risk analytics and technology with his deep risk management and finance expertise. Peter is also a Risk Management trainer for PRMIA where he develops and deliversd training on Model Risk Management and ERM & Stress Testing for the global risk community. Peter regularly speaks and presents at risk events, webinars, and publishes risk management thought leadership materials.

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