Track: Education

Day 2 16 October 2017


08:00 — 09:30 Education

Masterclass - Risk management information systems in the age of Big Data

Big Data is here. This master class, dedicated to the topic of Risk Management Information Systems, (RMIS), draws inspiration from the enormous quantity of data that we can now use to develop advanced methods of risk identification, measurement and monitoring. It will look at the Big Data environment, its origins, and its importance for risk management and the related risks and opportunities. It will illustrate the need for risk management information systems, and when and how to implement them. The class will conclude with a case history based on the experience of Prysmian Group, with specific reference to the application of a risk management information system for the management of project risk assessment and the analysis of group risk exposure to the entire project portfolio.
14:00 — 15:15 Education

The 4th industrial revolution, a blessing or a curse?

Each industrial revolution has brought out fear and progress of humanity at the same time. There were times when people were worried to walk into a lift which was not operated by a lift operator any longer but was controlled automatically. People have adapted. This workshop will explain what has triggered the 4th industrial revolution and will elaborate on how it will change and impact life, business and communication likewise. It will put a particular focus on how a risk manager and a company can long-term survive in the new risk and opportunity environment.

Day 3 17 October 2017


09:30 — 10:15 Education

Keynote Speech

11:30 — 12:30 Education

The role of education in developing tomorrow's risk leaders

The next generation of risk leaders will need a broader, more analytical mindset and a deeper understanding of technology. This requires skills and experience that can be certified and so recognized, combined with continuous learning to keep knowledge up to date and relevant. The panel will consider how education can support risk managers to face future challenges with the necessary skills.
14:00 — 15:15

Workshop Sessions 3

Cyber risk: challenges and governance Education
How to be resilient in an unstable political environment Education
New capital for innovative risk transfer solutions: friend or foe? Education
16:00 — 17:00

Workshop Sessions 4

Big data: the reality, the risks and risk management Education
Protecting human capital, your most important asset Education
Seeking Sustainability – creative risk management and insurance solutions Education
Challenges and opportunities for captives – in the post-BEPS world Education
08:00 — 09:30 Education

Masterclass - Integrating Internal Control Self Assessment (ICSA) and risk management integration approach

Every manager is supposed to be the risk manager of his/her own process, but getting operational management involved in the risk management process is a challenge in most organisations. Sometimes the methodology and incentives to progress towards an effective integration of the risk management and internal processes are simply missing. ICSA can help in developing such management involvement. This masterclass is an opportunity for Risk Managers to come closer to the operations of their organization and to adopt a “process” approach for their risk management techniques. Going down to the operational aspects of the risk mitigation actions, in partnership with the operational management, is a way to achieve this integration. The business case illustrates the implementation of the self-assessment approach in a personnel and payroll services company. Self-assessment initiatives were managed at a very decentralized level, making the exercise even more interesting by demonstrating the role of operational management in the internal control process.  
14:00 — 15:15 Education

Cyber risk: challenges and governance

Data breaches and ransom attacks continue to increase, and so does the annual cost of cybercrime. Insurance programs and pre-and post-loss response services are not yet mature. Some data breaches and ransom attacks are unavoidable. It is crucial to learn from them, prepare beyond the obvious, challenge your enterprise risk management approach and insurance purchases, and stress test your readiness internally and externally. This workshop will be interactive and practical. A real European cyber case will help us address fundamental questions, such as (a) what to do after a data breach, (b) how do you quantify, (c) how do you test the value of insurance, (d) how can you apply and share these new skill sets in your own value proposition across the corporation, and (e) what are the regulatory issues?
14:00 — 15:15 Education

How to be resilient in an unstable political environment

Everybody talks about the importance of resilience, but how do we know what this means in practice for business? How can organisations not just survive but thrive in a changing and uncertain political environment? Resilience is the ability to adapt and take advantage of the sort of dramatic changes that now face us. It is not easy to achieve, but emerges as a crucial skill for high-performing professionals. Come and learn the skills needed to develop a shared vision of the emerging risks and how to manage them to get a step ahead.
14:00 — 15:15 Education

New capital for innovative risk transfer solutions: friend or foe?

This presentation intends to outline and give better insights into the trend of innovative risk solutions entering the market and how they differ from traditional offerings. Attendees will learn about specific examples that could be applied to their own operations and consider how the new forms of capital can integrate with existing offerings to improve the overall protection offered to corporates.  At the end, what will the attendee’s conclusion be: friend or foe?
16:00 — 17:00 Education

Big data: the reality, the risks and risk management

The goal of this workshop is to investigate how companies can look forward at the potential of quantifying and managing risk through an innovative combination of data, analytics, and technology, and at the risks that come from data. The workshop will cover basic definitions and explain how new European legislation, particularly the General Directive on Data Protection, will have a material impact on how exposure and liability. Using our own claims data and analysis we will look at the risks we have seen, and predict future trends. More practically the session will then highlight the questions that risk managers should be asking their businesses in order to quantify their exposure. With a clearer idea of the threats that big data can pose, we will then look at mitigation. How can a company best prepare for a data breach incident, including the need for multi-jurisdictional response plans, brand protection and the requirements for notification?
16:00 — 17:00 Education

Protecting human capital, your most important asset

This session will present the key findings and recommendations from the 2017 version of the joint research paper by FERMA/International SOS Foundation “Workers on the move, managing new risks”. It will highlight the key issues for risk managers to consider to effectively manage today’s more diverse mobile employees and ensure success of international assignments. The report will identify emerging trends and innovative solutions for employees and their families. It will outline responsibilities for mobile workers and provide practical guidance from the experience of other risk managers, including a case study from a global company that has to communicate with more than 82,000 employees in 190 countries. There will also be an overview of global trends in international employee benefits, including what has proved its value and what is about to happen.  
16:00 — 17:00 Education

Seeking Sustainability – creative risk management and insurance solutions

Many companies have felt the pressure, from regulators and society at large, to become more sustainable. Some have seen this as a threat, while many others have view it as an opportunity and a way to strengthen brand image. In either case, becoming sustainable requires dedication, creativity, ingenuity, and new attitudes. This is particularly true for recent developments in the renewable energy sector, but new technologies in unfamiliar locations mean new risks to identify, understand, and manage. The role of insurers in boosting renewable energy is important, both through their own investments and providing state of the art risk financing solutions. Join us in a risk management and insurance exploration of advanced sustainable technologies.
10:15 — 11:00 Education

Europe at the crossroad

Just ahead of the 60th anniversary of the Treaty of Rome, Europe is facing heightened uncertainty about its future despite the European Commission’s unexpectedly positive Economic Outlook for 2017 and 2018.  We can safely predict that many changes will affect European companies between now and the FERMA Forum from 15-18 October, but we are far from being able to say exactly what they will be. On the horizon are the still-to-be clarified plans of the new US administration in key policy areas, numerous elections in Europe and the upcoming “Article 50” negotiations with the United Kingdom. These Brexit negotiations, combined with changing leadership in France, Germany, the Netherlands and perhaps Italy, could divert attention from other important issues such as the Greek debt and economic reforms. The panel will assess the risks and opportunities for Europe at the cross-roads. Will it make a new beginning or find itself at a standstill?
15:15 — 15:45 Education

Information session on cyber risk governance report

A joint working group, representing risk managers and internal auditors from 8 EU countries and  6 different economic sectors (bank, transport, defense, IT, food services and telecom) has developed recommendations for organizations on innovative ways to internally organize the management of cyber risks. These recommendations include a cyber risk governance model between the key internal stakeholders and the Risk and Audit Committees. The proposed model will increase cyber-resilience, define the key stakeholders and the conditions for success. Developing cyber governance principles for greater resilience is supported by the World Economic Forum, which published a report in January 2017: « Advancing Cyber Resilience: Principles and Tools for Boards ».
16:00 — 17:00 Education

Challenges and opportunities for captives – in the post-BEPS world

The OECD’s Base Erosion and Profit Shifting (BEPS) action plan creates for captives and their owners not only another challenge (soon after Solvency II), but also an opportunity to optimize how the captive is used as a group risk management tool. The session will address the current state of the captive industry taking into account the most recent changes that have impacted the market, such as, capital requirements post Solvency II, increasing premium rates, emerging risks facing multinational companies, and increased (re)insurance capacity. The session will also outline the OECD BEPS action plans and their potential impact on captives and their owners. Finally, the session will go through the initiative that has been proactively driven by FERMA and the outcome of its direct dialogue with the OECD.  This session will give risk managers an opportunity to firstly understand the state of the captive market, the potential challenges of BEPS and the steps that they could implement to take advantage of the opportunities to manage their group risks in an efficient and optimal manner.

Day 4 18 October 2017


08:00 — 09:30 Education

Masterclass - Beyond the spreadsheet Additional methods of analyzing and communicating risk

The training in this class will show how the methods used by one group of risk professionals can be applicable for risk managers in other sectors. In general, risk teams of alternative investment funds have to address three distinct requirements: 1. internal management demands for measurement and evaluation 2. regulatory and compliance risk demands and 3. the provision of risk data and reports to investors. Traditionally these challenges were met separately by risk, compliance and investor relations functions, but integrating report generation with risk calculations can give a highly flexible and powerful approach that allows risk management to provide the requisite metrics to distinct audiences. The presentation will cover the basis for the different requirements of risk audiences and the tools and methods to produce the risk metrics, as well as the reporting technology.
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