Education
For a copy of any of the sessions listed please contact Chris Banas, Educational Programs Administrator at 301.961.8816.
8:00-9:00am
Lessons Learned: Defining New Risk Management Practices
Hear from a senior executive of one of the best risk managers in
the world as he describes their journey through the greatest
financial crisis in a century. Ben Golub, head of BlackRock's Risk
& Quantitative Analysis Group, will explain how his
organization navigated the treacherous waters as the financial
markets were collapsing all around them, and provide his thoughts
on how to prepare for challenges yet to come.
9:00-10:30am
Identifying and Understanding Emerging Risks
The economic turbulence of past year has tested corporate risk
executives as never before. Picking up from the final session of
last year's risk forum, "The Future of Corporate Risk Management,"
this session will review the lessons learned from the recent
challenges that risk executives have faced, the successes that they
achieved, and areas that need improvement. The panelists will also
discuss how to anticipate upcoming risks, incorporate them into
existing frameworks, and stay one step ahead of the dangers on the
horizon.
Michel Bekkers
Global Director, Financial Risk Management
Dow Chemical
Martin Pergler, Ph.D.
Senior Risk Expert
McKinsey & Co.
- James Lam
President
James Lam & Associates
10:45am-12:00pm
Roundtable - Coping with High Volatility
Whether you're dealing with currency, commodity or interest rate
risk, the extreme volatility that all of these markets are
currently experiencing has greatly increased uncertainty for
hedging programs. Hear about some of the key lessons learned during
these tumultuous times, and discuss strategies you can employ to
guard against negative outcomes.
Roundtable - Demonstrating the Value of a Risk Management
Program
This session will discuss ways to demonstrate the value of a risk
management program to the organization, especially in the current
economic environment where costs are being closely scrutinized.
Corporate practitioners will review quantitative and qualitative
methods that they use to measure financial savings and strategic
value created by proactively managing liabilities. Learn how to
present the risk management function as a value-added resource that
should play an instrumental role in the strategic decision making
process of the organization.
Roundtable - ERM: How Has It Performed in the Past Year?
Given what has transpired in the financial markets over the past
year, instituting and sustaining an effective ERM program can seem
like an impossible task. In this session, corporate risk executives
will discuss the ins and outs of creating and maintaining a
comprehensive risk program, from assessment to implementation
through regular review and adjustment. If you have a program in
place, what has worked during this crisis, and what improvements do
you need to make? If you are in the beginning stages of
implementing an ERM program, learn tips and best practices from
fellow practitioners who have been in the trenches.
Peter Fahrenthold
Managing Director, Risk Management
Continental Airlines
Jean Furter
Treasurer
Brocade Communications
12:00 - 1:30
Luncheon Address - An Assessment of Economic Recovery
Efforts
FOMC member Dennis Lockhart will present an in-depth analysis of
recent measures taken by the Fed to address liquidity issues in the
financial system. He will then discuss the impact and effectiveness
of these initiatives, and share his thoughts on the economic
recovery process. With his vast experience in international
finance, Mr. Lockhart will provide an insightful overview of the
future of our economy and the new world of global banking.
- Dennis P. Lockhart
President & CEO
Federal Reserve Bank of Atlanta
1:30-2:45pm
Roundtable - A 360� View of Counterparty Credit Risk
Counterparty credit risk generally focuses on A/R, but with the
increase in far-flung global relationships, outsourcing, and
corporate interdependencies, other aspects of counterparty risk
have rapidly become just as important. To protect the integrity of
your business today, your selection of and relationship with
vendors and financial partners must also be conducted with intense
scrutiny. Hear how other risk practitioners are meeting the
challenges posed by all sides of the counterparty credit risk
equation.
Peter J. Pavluk, CPA
Chief Financial Officer
Superior Natural Gas Corporation
Gary Haberman
Director of Research
Global Credit Services LLC
Roundtable - ERM & Credit Rating Agencies Update
Major changes are underway in the credit rating process, with
significant implications for corporate risk practitioners. This
session will address the formal risk management assessments that
credit ratings agencies are currently implementing across
financial, non-financial and insurance companies. Standard &
Poor's will outline what they will be looking for in their
evaluations, and a corporate executive who has been through the
process will share their perspective.
Roundtable - Business Continuity: Moving Beyond the Basics
Over the past several years the world has suffered numerous
catastrophic natural disasters, and we now face the greatest
financial crisis in a century. In these uncertain times, a
comprehensive disaster recovery plan is an absolute corporate
necessity. Discuss the components of a best-in-class plan, what has
worked and not worked during the recent crises, and how to take
your business continuity strategy to the next level.
Randy Kostroske, CPA
Vice President, Risk Management
Crescent Real Estate Equities, LLC
Eric P. Jones, CPA, CVA, CBCP
Assistant Vice President
FM Global
3:15-4:30pm
Roundtable - Protecting Your Corporate Reputation
A sound reputation is a priceless asset to every organization as
the business environment becomes increasingly competitive.
Corporate risk practitioners need to be proactive in maintaining
their company's good name because once tarnished, it can be
difficult or impossible to repair. This session will outline a wide
range of situations that can negatively impact an organization's
reputation, such as product liability, counterfeiting,
environmental and labor practices, accidents, and misconduct, and
discuss measures that risk executives can take to avoid reputation
damage before it happens.
Roundtable - Addressing Liquidity Risk with an Integrated Risk
Management and Financing Framework
The number one issue in the markets today is liquidity. As
everyone knows, with external sources of liquidity constrained,
generating cash from internal operations and managing working
capital tightly is a key aspect to survival and outlasting this
economic downturn. In this session, talk with your peers about what
they are doing to manage liquidity risk through accurate cash
forecasting, enhanced financial planning, identification of new
liquidity sources and banking relationships, changes to financing
strategies and tighter control over uses of cash.
Roundtable - The Future of the Insurance Industry
The insurance industry will not be left unscathed by the massive
changes that the entire financial system must undertake. This
roundtable provides the opportunity to discuss how insurance
companies might evolve in order to survive in this new environment,
and what impact these changes will have for corporations and their
use of insurance in risk management.
8:30-11:00am
Roundtable - Organizational Approaches and ERM Tools
for a New Risk Management Era
Organizations have commonly relied on outdated organizational
models and analytical tools. For example, they implement
quantitative tools such as value-at-risk models and RAROC, or
qualitative tools such as risk-control assessments and loss-event
database, as the backbone of their risk management programs.
However, as the volatility and global reach of the financial crisis
increased dramatically, many of these approaches and tools were
rendered almost useless. This session provides an opportunity to
discuss new organizational models and ERM tools that can help risk
executives increase the effectiveness and efficiency of their risk
management programs.
- James Lam
President
James Lam & Associates
Roundtable - Environmental Risks & New Reporting
Requirements
Environmental concerns are emerging as a primary concern in
government and the private sector. Risk executives must prepare for
the financial and non-financial implications of environmental
regulations such as carbon reduction on the horizon in order to
stay ahead of the curve. This session will also address ways to
have a voice in shaping environmental policy rather than just to
responding to it.
Roundtable - Risk Management as a Cultural Imperative
One of the greatest challenges facing corporate risk executives is
ensuring that risk management concepts are integrated into the
business across all functions - just one weakness left unaddressed
can result in serious damage. In this session, hear what other
practitioners are doing to integrate their risk management program
into the company culture, and to make it a critical component of
the strategic and daily decision-making processes throughout the
entire organization.
10:30am-12:00pm
General Session: A View from the Top: Survival Planning for the
Next 12 Months
Whether a company has a large, comprehensive ERM program, or a
basic structure with one or two staffers, the prolonged financial
tumult has thrust the risk management function into the spotlight
at organizations across the globe. Top executives find themselves
in a real bind as they try to mitigate revenue (customer) and
supply chain (vendor) risk, maximize liquidity, manage instability
in the markets, meet compliance and regulatory requirements, and
look for opportunities to gain competitive advantage. A panel
comprised of a CFO, a CRO, and an audit committee head will discuss
methods to overcome the obstacles posed by today's challenging
environment.
Jeffrey Jewell
Chief Risk Officer
DTE Energy
Brian P. Breen, CTP
Chief Financial Officer
The Service Companies, Inc.
Prakash Shimpi
Managing Principal, ERM
Towers Perrin