Solving the major problems of enterprise risk management (ERM) implementation is one of the topics to be addressed by Beaumont Vance, senior enterprise risk manager, Sun Microsystems, Inc., during a presentation to the Insurance Operational Risk Discussion Group in New York City on September 21, 2007. Early registration is advised.
Philadelphia, Pa. (August 3, 2007)—Beaumont Vance, senior enterprise risk manager, Sun Microsystems, Inc. will discuss how his company solved the major problems of enterprise risk management implementation during an address to The Risk Management Association’s (RMA’s) newly formed Insurance Operational Risk Discussion Group on September 21, 2007. The Discussion Group, which focuses on major industry challenges, will meet on September 20 and 21, 2007, in New York City at MassMutual’s Oppenheimer Funds location, Two World Financial Center.
Vance’s presentation will address these challenges:
- Adapting financial models to operational risk.
- Using frameworks (why they don't help much).
- Breaking down the huge, complex risks and quantifying them without data.
- Creating a dashboard for political risk in the supply chain.
- Handling reputation risk.
Vance, who is co-author of ERM for Dummies, was chosen by Treasury and Risk Magazine as one of its “Top 100 Most Influential People in Finance” in 2006 and 2007. Beaumont is a member of the board of directors and of the ERM Committee of the Risk and Insurance Management Society (RIMS).
During his presentation Vance will also discuss why centralized control won’t provide data-driven solutions to those classes of risk outside pure finance. He will encourage attendees to adopt solutions that already exist, such as those found in:
- The wisdom of the crowd.
- The swarm theory.
- Emergent behavior.
Although RMA primarily addresses risks faced by banking institutions, its director of operational Risk, Charles Taylor, initiated the Insurance Operational Risk Discussion Group because he believes industries can learn from each other. “Multi-disciplined forums for sharing solutions are important because each risk management group has invented part of the wheel,” said Taylor
For more detailed information about the agenda and for registration information, please visit the RMA Web site at www.rmahq.org or call RMA Customer Care at 800-677-7621. As seating is limited, early registration is advised.
About RMA
Founded in 1914, The Risk Management Association is a not-for-profit, member-driven professional association whose sole purpose is to advance the use of sound risk principles in the financial services industry. RMA promotes an enterprise approach to risk management that focuses on credit risk, market risk, and operational risk.
Headquartered in Philadelphia, Pa., RMA has 3,000 institutional members that include banks of all sizes as well as nonbank financial institutions. They are represented in the Association by 18,000 risk management professionals who are chapter members in financial centers throughout North America, Europe, and Asia/Pacific. Visit RMA on the Web at www.rmahq.org.
Contact:
Kathleen M. Beans
Public Relations Manager
215-446-4095