Cyber Risk Management

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Enabling Cyber Risk Management- Many of the fines issued by the FCA over the past few years can be attributed to poor information management. The threats from external cyber-attack and malicious insiders are escalating, with your corporate and client information being the primary target of the cyber criminals. The legal requirement on UK businesses will evolve with the proposed EU data protection regulation likely to come into force next year. It is therefore critical to implement robust information risk management. This recorded webinar will discuss the risks and highlight some practical steps to develop and integrate information risks into your ERM.

Cyber Risk Management

Cyber Risk Management

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"A Holistic Approach to Managing Risk amidst Global Uncertainty" The RMA/Cass Business School 10–14 February 2013 Advanced Risk Management Programme Organised by Andrew Smart & Nicholas Hawke In today’s fast-moving, complex environment, risk executives must cultivate an understanding across all risks and businesses. Business problems are multifaceted, interrelated, and increasingly global. Executives must possess enhanced skills to identify and address a wide range of risks with an integrated approach and enterprise-wide perspective. The RMA/Cass Advanced Risk Management Programme, led by the faculty at Cass, one of the UK’s top business schools, exposes participants to a rigorous, yet inspiring blend of theory, practice and cutting-edge research, instilling knowledge and skills applicable to the real world of global business. In addition to its focus on the known and quantifiable risks of credit, market, and operational, the programme concentrates on the unknowable and difficult to measure risks, including business, strategic, and reputation. Cass has excellent links to the City of London firms and institutions and is able to complement Cass faculty with guest faculty and senior level business practitioners, considered by their peers to be industry thought leaders Areas of focus for The RMA/Cass Advanced Risk Management Programme include: • Risk management as a strategic competitive strength • An integrated approach to risk management • Fostering a culture and climate that openly communicates risk • A framework for rapidly responding to known risks and unraveling the complexities of the unknown • A focus on risk informed by global perspectives.

Integrating Strategy and Risk Management

Integrating Strategy and Risk Management

Integrating Strategy and Risk Management

Making Conduct Risk [Good] Business As Usual

Making Conduct Risk [Good] Business As Usual

Making Conduct Risk [Good] Business As Usual

Governance Culture & Incentives- Fundamentals of Operational Risk

Governance Culture & Incentives- Fundamentals of Operational Risk

Governance Culture & Incentives- Fundamentals of Operational Risk

StratexPoint Risk Management Solution Intro Video

StratexPoint Risk Management Solution Intro Video

StratexPoint Risk Management Solution Intro Video

Andrew Smart will briefly explain risk appetite and how it can be linked into the overall strategy and risk management process of an organisation. He will then go on to clarify how Risk Appetite statements work alongside Vision statements; creating the right ‘tone from the top’, and how that can be cascaded through the organisation in the form of Risk Tolerances and KRI's. The webinar will conclude with a demonstration of how to enable and embed change, leveraging your SharePoint investment. Please contact andrew.smart@stratexsystems.com for more details about the presentation or to have a talk about our software solutions.

Shaping Your Culture via Risk Appetite

Shaping Your Culture via Risk Appetite

Shaping Your Culture via Risk Appetite

A practical approach to defining indicators within an integrated ERM Framework Workshop Overview Many organisations have made considerable progress in the area of enterprise and operational risk management since the financial crisis in 2007/2008. However events over the last few years have demonstrated, and continue to demonstrate the need to make improvements in organisational risk management capabilities and tools. One area of weakness and, particular challenge for many organisations is around indictors, specifically developing and managing with Key Risk indicators (KRIs). KRIs have a vital role to play in monitoring and managing risk exposure within any organisation, and should be developed and deployed in the context of a wider indicator suite which includes Key Performance Indicators (KPIs) and Key Control Indicators (KCIs). Workshop Objective This interactive workshop provided attendees with a deep understanding of developing and managing with Key Risk Indicators. We started by providing an overarching management framework which integrated strategy execution and risk management. We then moved on to clarify the role of KRIs, alongside KPIs and KCIs. Using a combination of presentations and practical examples, we were able to: Learn how to define robust suite of indicators, including the different between Leading and Lagging, and Financial and Non-Financial indicators Understand how to use a well-structured risk definition to guide the definition of KRIs Understand the relationship between risk appetite and KRIs, and however Risk Appetite should influence the definition of KRIs Understand the role KRIs play in scenario analysis Understand the role of KRIs in the risk assessment process Understand the role of KRIs within the risk, regulatory and management reporting Who Attended: CROs, Directors, General Managers, Senior Management and Managers of: Operations, Operational Risk Management, Enterprise Risk Management, Internal Audit, Compliance, Operational Risk, Strategy and Performance. Please contact andrew.smart@stratexsystems.com for more details about the presentation or to have a talk about our software solutions.

Managing with KPI's and KRI's

Managing with KPI's and KRI's

Managing with KPI's and KRI's

The regulatory landscape for the UK Financial Services industry has undergone a fundamental change with the Financial Services Authority (FSA) splitting into two new regulatory bodies; the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). Focusing on the FCA and the Conduct Risk agenda, in this webinar, "Enabling Effective Conduct Risk", Andrew Smart demonstrates how firms can effectively manage conduct risk by taking an integrated approach to strategy and risk management, and how the StratexPoint solution can support firms as they seek to meet the challenges of conduct risk and engage effectively with the new regulator around this agenda. During the webinar, Andrew outlines: 'The Seven Key Challenges of Conduct Risk Management'; 1. Managing and embedding Governance into the business 2. Definition and embedding the Business Model 3. Definition and execution of the Business Strategy with customers at its heart 4. Enabling & embedding Conduct Risk specific processes 5. Process Management, and specifically New Product Development 6. Product level performance and risk management 7. Conduct incident reporting and analysis Andrew demonstrates during the webinar that Enabling Effective Conduct Risk Management is not about throwing everything that one currently does away and starting afresh but rather building on existing strategy execution and risk management processes and tools.

Enabling Effective Conduct Risk

Enabling Effective Conduct Risk

Enabling Effective Conduct Risk

Pulling together into a single framework the two separate disciplines of strategy management and risk management, and how it is possible to integrate it with Balanced Scorecard. This presentation provides a practical guide for organizations to shape and execute sustainable strategies with full understanding of how much risk they are willing to accept in pursuit of strategic goals. Please contact andrew.smart@stratexsystems.com for more details about the presentation or to have a talk about our software solutions.

Integrating Risk into your Balanced Scorecard

Integrating Risk into your Balanced Scorecard

Integrating Risk into your Balanced Scorecard

Middle east insurance market

Middle east insurance market

Middle east insurance market

Amnded stratexpoint screens1

Amnded stratexpoint screens1

Amnded stratexpoint screens1

HML Risk Transformation

HML Risk Transformation

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Greater Manchester Fire and Rescue Service Whitepaper

Greater Manchester Fire and Rescue Service Whitepaper

Greater Manchester Fire and Rescue Service Whitepaper

Integrating Risk Appetite With Strategy Feb 14 2011

Integrating Risk Appetite With Strategy Feb 14 2011

Integrating Risk Appetite With Strategy Feb 14 2011

Manigent Embedding Risk Appetite Within The Strategy Process

Manigent Embedding Risk Appetite Within The Strategy Process

Manigent Embedding Risk Appetite Within The Strategy Process

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Integrating Strategy and Risk Management

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Managing with KPI's and KRI's

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Amnded stratexpoint screens1

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Greater Manchester Fire and Rescue Service Whitepaper

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Integrating Risk Appetite With Strategy Feb 14 2011

Integrating Risk Appetite With Strategy Feb 14 2011

Manigent Embedding Risk Appetite Within The Strategy Process

Manigent Embedding Risk Appetite Within The Strategy Process

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Insurance IoT is a social good! Because: 🔵 Expected losses can be reduced structured programs with both real-time mitigation actions to solve a specific situation, and behavioral change mechanisms to promote safer behaviors (both in personal and commercial lines) 🔵 Rate can be matched to risks better: - Smaller and more accurate pricing clusters allow a large part of profiles to receive a lower rate - Even with the ability to price the individual probability of loss (cluster of one) the insurance foundation isn’t canceled (The risk of each policy will contribute to the expected losses of the portfolio; The premiums paid by many lucky policyholders will be used to pay the claims of the few unlucky policyholders who had an accident in a period of coverage) 🔵 IoT data can be used to increase the effectiveness and efficiency of the claim process, so improving the combined ratio ceteris paribus ⏩ Large part of the policyholders will pay less (and portfolios currently difficult to insure will become more insurable) Insurance IoT (and telematics) is not about providing a discount Insurance IoT (and telematics) is about creating economic value using the data and sharing part of this value with policyholders (and agents & brokers) An integrated holistic adoption of the IoT paradigm is a game changer for your insurance business and a social good: ◾ it allows to improve the availability and affordability of insurance coverages ◾while allowing the sector to write a profitable business Below you can enjoy a selection of best practices in both personal and commercial lines - written with some of the IoT Insurance Observatory members - that have already started to obtain results from their IoT business transformation journeys

Insurers' journeys to build a mastery in the IoT usage

Insurers' journeys to build a mastery in the IoT usage

Insurers' journeys to build a mastery in the IoT usage

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