PRMIA Event: Deriving Risk Appetite and translating it into a meaningful set of limits
The Luxembourg Chapter of PRMIA (the Professional Risk Managers International Association) has invited avantage Capita to hold a series of four risk management events. The fourth event will be held on Thursday 29 January 2009.
| What |
|
|---|---|
| When |
Jan 29, 2009 from 06:30 PM to 08:30 PM |
| Where | Hotel Le Royal, Luxembourg |
| Add event to calendar |
vCal
iCal
|
The need to understand the tradeoff between risk and reward followed by senior management of an enterprise is (arguably) more acute in the prevailing volatile economic environment. An effective communication of the risks actively managed in pursuit of value creation starts with a meaningful articulation of risk appetite at an enterprise level. The events of 2007/8 suggest that the application of risk appetite as a meaningful set of limits with which to operate a business is not well understood. An article in a recent Harvard Business Review article cited “in most organizations the identification and management of risks is highly fragmented, so the Board and the CEO find it hard to engage in a meaningful and informed analysis; the CEO usually ends up relying on his or her gut instinct”. (Owning the Right Risks, by Kevin Buehler, Andrew Freedman and Ron Hulme, Harvard Business Review, September 2008.)
The presentation will start with a recap on the definition of risk appetite in the context of an accepted enterprise risk infrastructure (with reference to the Enterprise Risk Management – Integrated Framework developed by The Committee of Sponsoring Organisations of the Treadway Commission (COSO)), provide a recap on current practice in non financial enterprises, before moving on to present an approach for the quantification and use of the defined risk appetite in order to make improved risk adjusted business decisions. The presentation will be followed by a question and answer session.
Agenda:
18:30 Welcome and Introduction, Laurent Denayer, PRMIA Luxembourg
Georges Hübner, Deloitte Professor of Financial Management, Department of Accounting, Finance and Law, HEC-University of Liège
Andrew Nord, Director, avantage Capita Limited
Barry Smith, avantage Capita Limited
19.25 Question and answer session, Manish Patel, avantage Capita Limited
19:45 Cocktail
Download a copy of the invitation and registration form here or register by email to luxembourg@prmia.org.
For additional information, please contact Event Admin.
