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.

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?

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?

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.  

Just ahead of the 60^th 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?

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.

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.