This training program will cover the most significant standards and guidelines issued by the Basel Committee on Banking Supervision and discuss the most effective strategies for their implementation. We will also review proposed rules that will affect international banks and other financial institutions in the near future.
Risk management is a key component of every financial institution’s governance framework. To identify, assess and manage risk effectively, risk-data must be collected, processed, aggregated and reported in a secure and well-controlled environment. Additionally, compliance with regulations such as risk-based capital rules, specifically require challenging data quality and modeling standards to be met.
This seminar will also address best practices with respect to turning source data into reliable information that can be used to enhance risk management and decision-making processes at financial institutions, and to comply with federal regulations and international standards. During this session, we will review Risk Data Management along the spectrum of governance: identification, collection, tracking, modelling, internal/external reporting and impacts on regulatory capital.
Learning Objectives:
At the end of this seminar you should be able to:
- Describe the Basel capital accords and guidelines and how they affect banks and other financial institutions
- Understand the challenges and opportunities related to their implementation
- Prepare for changes that are scheduled to occur in the next four years
- Build a risk data management framework to support risk and capital reporting
- Develop a model risk management program, including an effective model validation process
- Understand the different methods used to assess and quantify risk
- Describe how regulatory capital is calculated and reported
Areas Covered:
- Regulatory Compliance
- Risk Management
- Corporate Governance
- Policy Management
- Capital Management
- Liquidity Management
- Financial Modeling
- Risk Data Aggregation and Reporting
Who will benefit:
This seminar will provide valuable information to individuals occupying the following positions in the financial services industry:
- Risk Officers
- Compliance Officers
- Internal and External Auditors
- Financial Controllers
- Corporate Treasurers
- Financial Officers
- Business Analysts
- Corporate Secretaries
Topic Background:
The Basel Committee on Banking Supervision (BCBS) is the primary global standard setter for the prudential regulation of banks. Since the financial crisis of 2008, the BCBS has published a new capital accord (Basel III,) and a number of guidelines governing risk data aggregation and reporting and internal modeling. BCBS is now introducing a series of enhancements to Basel III that have been nicknamed Basel IV.
- 8:30 to 9:00 AM: Breakfast & Introductions
- 9:00 - 10:15 AM - Overview of Basel III and IV
- Bank for International Settlements (BIS)
- Basel Committee on Banking Supervision (BCBS)
- Basel Capital Accords
- New capital and buffer requirements under Basel III rules
- New definition of capital
- 10:15 - 10:30 AM: Coffee Break
- 10:30 AM- 12:00 PM - Overview of Basel III and IV (cont.)
- Key differences between Basel II and III
- Proposed changes to the Internal Ratings Based Approach (Basel IV)
- Other significant changes being introduced
- Implementation Schedule
- 12:00 - 1:00 PM: Lunch
- 1:00 – 2:30 PM - Risk Data Management Framework
- Overarching governance and infrastructure
- Organization models for large, medium and small institutions
- Infrastructure options based on size, nature and geographic location
- BCBS 239 - Principles of Effective Risk Data Aggregation and Risk Reporting
- Data management tools and processes
- Level of complexity consistent with size of institutions
- Risk data aggregation capabilities
- 2:30 – 2:45 PM: Coffee Break
- 2:45- 4:30 PM - Risk Data Management Framework (cont.)
- Risk reporting practices
- Implementation process
- Comprehensive and streamlined processes
- Infrastructure for reporting key information
- Enhancing management information across business units and legal entities
- Facilitating aggregation and comprehensive assessment of risk exposures at the global consolidated level
- 9:00- 10:15 AM - Model Risk Management
- Background
- Model use
- Model development, implementation and use
- Model validation and verification
- Governance, Policies and Controls
- 10:15 - 10:30 AM: Coffee Break
- 10:30 AM- 12:00 PM - Model Risk Management (cont.)
- Three Lines of Defense
- Roles and responsibilities
- IT and Spreadsheet Controls
- Effective Challenge
- 12:00 - 1:00 PM: Lunch<
- 1:00 – 2:30 PM - Risk and Capital Reporting
- Risk and Control Assessments
- Key Risk Indicators
- Value-at-risk and Economic Capital Models
- Stress Testing and Scenario Analysis
- 2:30 – 2:45 PM: Coffee Break
- 2:45 - 4:30 PM - Risk and Capital Reporting (cont.)
- Integrating qualitative and quantitative tools
- Board and management reporting
- Dashboard reports and technologies
- Regulatory Capital calculation and reporting
Mario Mosse
President of MMosse Consulting, LLC
Mario Mosse has over 40 years of experience in operational risk management, internal audit and regulatory compliance at financial services companies. He is the president of MMosse Consulting, LLC, where he provides risk management advice and training to the financial services industry. Previously, he was the head of operational risk management at Prudential Financial, Inc. Prior to joining Prudential, Mr. Mosse was with The Chase Manhattan Bank, where he held several senior positions in internal audit and risk management.
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Local Attractions of Newark, NJ
Newark Museum:
The Newark Museum, in Newark, Essex County, is the state's largest museum. It holds fine collections of American art, decorative arts, contemporary art, and art from Asia, Africa, the Americas, and the ancient world. Its extensive collections of American art include works by Hiram Powers, Thomas Cole, John Singer Sargent, Albert Bierstadt, Frederick Church, Childe Hassam, Mary Cassatt, Edward Hopper, Georgia O'Keeffe, Joseph Stella, Tony Smith and Frank Stella. The Newark Museum's Tibetan galleries are considered among the best in the world. The collection was purchased from Christian missionaries in the early twentieth century.
Prudential Center:
Prudential Center is a multi-purpose indoor arena in the central business district of Newark. Opened in 2007, it is the home of the National Hockey League's (NHL) New Jersey Devils and the NCAA's Seton Hall Pirates men's basketball team. The arena seats 16,592 patrons for hockey and 18,711 for basketball. Fans and sports writers have affectionately nicknamed the arena "The Rock" in reference to the Rock of Gibraltar, the corporate logo of Prudential Financial, a financial institution that owns the naming rights to the arena and is headquartered within walking distance. In December 2013, the arena ranked third nationally and ninth internationally for self-reported annual revenue. It is located two blocks from Newark Penn Station in downtown Newark, just west of Newark's Ironbound district, making it easily accessible via New Jersey Transit, PATH, Newark Light Rail, and Amtrak.
Branch Brook Park:
Branch Brook Park is a county park of Essex County, located in the North Ward of Newark, between the neighborhoods of Forest Hill and Roseville. A portion of the park is also located within the Township of Belleville. At 360 acres, Branch Brook Park is the largest public park in the city of Newark. The park is noted for the largest collection of cherry blossom trees in the United States, with over 4,300 in more than fourteen different varieties collectively called Cherryblossomland, as well as its spectacular Cherry Blossom Festival each April. The festival attracts approximately 10,000 visitors each April. During World War II, the park's grounds served a tent city for recruits, as well as a landing strip for airplanes of the United States Postal Service. To the park’s east is the Cathedral of the Sacred Heart Basilica, one of the largest cathedrals in the United States.
Cathedral Basilica of the Sacred Heart, Newark, New Jersey:
The Cathedral Basilica of the Sacred Heart, the fifth-largest cathedral in North America, is the seat of the Roman Catholic Archdiocese of Newark. It is located at 89 Ridge Street in the Lower Broadway neighborhood of Newark, New Jersey. Envisioned as a fitting monument to the faith, construction began in 1899 and was finished in 1954. The original design called for an English/Irish-gothic church, but plans were later modified in favor of a French-gothic style. The Cathedral Basilica holds concerts open to the public throughout the year and it has the largest pipe organ ever built by the Schantz Organ Co. which includes 154 ranks playable from two consoles.
Newark Symphony Hall:
Newark Symphony Hall at 1020 Broad Street in Newark, Essex County, New Jersey, was built in 1925 and added to the National Register of Historic Places in 1977. Originally built by the Shriners at a cost of more than $2 million as Salaam Temple and colloquially known as The Mosque, the four-story building has been Newark Symphony Hall since 1964. The interior features Greek and Egyptian motifs, marble columns, a crystal chandelier, gold-leaf fret work and two-columned side promenades. The neo-classical building was design by Frank Grad, a prominent Newark architect, whose work includes the Lefcourt Newark Building and many others downtown. The 3,500-seat main concert hall is named for Sarah Vaughan, a native Newarker, and is renowned for its acoustics.
Military Park:
Military Park is a 6-acre city park in downtown Newark. It is a nearly triangular park located between Park Place, Rector Street and Broad Street. From 1667, when the city was planned, until 1869 it was a training ground for soldiers. In 1869, it became the town commons. The New Jersey Historical Society, Military Park Building and the New Jersey Performing Arts Center are located across Park Place from the park. A $3.25 million renovation was announced in February 2012 and the park reopened in June 2014.
