A practical approach to defining indicators within an integrated ERM Framework
Many organisations have made considerable progress in the area of enterprise and operational risk management since the financial crisis in 2007/2008. However events over the last few years have demonstrated, and continue to demonstrate the need to make improvements in organisational risk management capabilities and tools.
One area of weakness and, particular challenge for many organisations is around indictors, specifically developing and managing with Key Risk indicators (KRIs). KRIs have a vital role to play in monitoring and managing risk exposure within any organisation, and should be developed and deployed in the context of a wider indicator suite which includes Key Performance Indicators (KPIs) and Key Control Indicators (KCIs).
This interactive workshop will provide attendees with a deep understanding of developing and managing with Key Risk Indicators. We will start by providing an overarching management framework which integrated strategy execution and risk management. We will then move to clarify the role of KRIs, alongside KPIs and KCIs.
Using a combination of presentations and practical examples, we will:
- Learn how to define robust suite of indicators, including the different between Leading and Lagging, and Financial and Non-Financial indicators
- Understanding how to use a well-structured risk definition to guide the definition of KRIs
- Understand the relationship between risk appetite and KRIs, and however Risk Appetite should influence the definition of KRIs
- Understand the role KRIs play in scenario analysis
- Understand the role of KRIs in the risk assessment process
- Understand the role of KRIs within the risk, regulatory and management reporting
Who Should Attend
CROs, Directors, General Managers, senior Management and Managers of: Operations, Operational Risk Management, Enterprise Risk Management, Internal Audit, Compliance, Operational Risk, Strategy and Performance.
Date & Location
Tuesday, May 7, 2013
9:00 AM – 5:00 PM (GMT)
91 Waterloo Road
SE1 8RT London