CSFI: Effective Risk Management - Guidance For Boards
Panel Discussion
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Failings in risk management are always part of the explanation for corporate collapses and scandals. And there has been no shortage of those while the Risk Coalition – a network of professional bodies and other risk experts – has been working on best-practice guidance for boards. At Thomas Cook, for instance, the auditor EY had pointed to “certain weaknesses in internal controls”, which the board tried to address in 2018…
The Risk Coalition is publishing its final report, Raising the Bar, in December. The first part provides principles and guidance for board risk committees to follow - including aligning risk strategy and management incentives with the organisation’s purpose and values, and safeguarding the independence of the chief risk officer. The second part drills down into the activities of chief risk officers and their risk functions. Its intention is to challenge the way a company’s leaders think about risk and to act as an antidote to the view that so much of risk management is nothing more than a compliance exercise.
Two of the Coalition’s co-founders, Hanif Barma and Christopher Burt, have agreed to set out the report’s conclusions, and to field questions. Hanif, a founding partner of Board Alchemy, is an expert on board evaluation and at reviewing the effectiveness of risk and audit functions. Chris is a principal at Halex Consulting and specialises in providing risk effectiveness and transformation services. Chris instigated and is principal author of the Risk Coalition's forthcoming guidance
They will be joined by:
- Alderman & Sheriff Michael Mainelli, co-founder and Director of Z/Yen, a commercial think-tank and venture firm specialising in finance and technology. He is a qualified accountant, computer specialist and management consultant, as well as being an Emeritus Professor and Trustee of Gresham College, and Sheriff of the City of London 2019-2020.
- Charlotte Morgan, a NED and chair of the audit committee at Sumitomo Mitsui Banking Corporation Europe and formerly a board member at Ford Credit Europe. A chartered accountant, she is also a member of the Association of Corporate Treasurers’ Council.
- Julia Graham, Deputy CEO and Technical Director at Airmic and formerly Director of Risk Management and Insurance at DLA Piper UK LLP. She was head of risk management and insurance for DLA Piper International: Europe including the UK, Middle East, Africa and Asia Pacific, and a NED on the board of the firm's captive.
Do come and share your thoughts and concerns about a corporate problem that is due a fresh approach. Let the CSFI know by emailing alex@csfi.org or phone on 020 7621 1056. As usual, there will be wine and sandwiches.
Date
Wednesday, 11 December 2019
Time
12:30 - 14:15 GMT
Cost
Free
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Speaker(s):
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Hanif Barma
Co-Founder
The Risk Coalition
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Chris Burt
Co-Founder
The Risk Coalition
Panellist(s):
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Alderman & Sheriff Professor Michael Mainelli
Executive Chairman
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