ERM in Insurance SIG webinar - How can risk management support the search for value in operational resilience?
Click here to register for the webinar
The PRA and FCA published their final rules on operational resilience, including the PRA outsourcing requirements on 30th March. Insurers have now a year to identify vulnerabilities in operational resilience through the identifications of important business services and setting impact tolerances and three more years to ensure that they are operating within those tolerances.
This is probably the first time that insurers have been asked to assume disruption and focus on the response and readiness rather than its prevention. Equally important is the focus on value reflected in the supervisory cooperation, the focus on outcomes and achieving these in a manner that is proportionate to the size, scale and complexity of the business. This focus on value puts into a sharper focus the importance of risk management and the trade-offs between costs and resilience.
This roundtable session brings together practitioners to discuss the benefits from operational resilience. They will discuss the sources of benefits to business from prioritising resilience over costs and will offer practical suggestions to capture those benefits by supporting, for example, digital transformations. This will help attendees understand the role that risk management can play in the implementation of operational resilience and the consideration of the trade-offs that will inevitably arise.
Agenda and speakers
- Strategic risk management and operational resilience, Iain Wright, Chief Risk Officer, Canada Life Group
- Impact of operational resilience on Enterprise Risk Management, Rachael Ward – Risk Specialist and Acting Head of Operational Resilience, FNZ UK
- The role of board governance in the implementation of operational resilience, Philippa Herz, Chief Risk Officer, OneFamily
- Delivering and maintaining operational resilience, Dr. Jenny J Birdi, Head of Operational Risk & Risk Strategy, HSBC UK Bank PLC
- Question and answer session
For a full agenda and speaker bios, click here
Attendance at this event is worth 1.30 hours of CPD