In the advent of the COVID Pandemic, regulators issued "Sound Practices to Strengthen Operational Resilience".
According to Sound Practices, "Operational resilience is the ability to deliver operations, including critical operations and core business lines, through disruption from any hazard." Furthermore, "It is the outcome of effective operational risk management combined with sufficient financial and operational resources to prepare, adapt, withstand, and recover from disruptions."
The regulators suggest that banks integrate the Sound Practices into their existing Operational Risk Management, stress testing, and ERM frameworks. The Regulators plan to engage in a dialogue with the various stakeholders to ascertain Best Practices of the Sound Practices.
This panel will shed light on the areas of the Sound Practices that relate to Operational Risk Management. It will address questions such as, how are banks responding to the Sound Practices? Have the Sound Practices been incorporated in the Safety and Soundness examinations fully? Are best practices of the Sound Practices beginning to emerge?
Moderator:
Bob Kostakopoulos
Deputy Program Director and Lecturer, ERM Program
Panelists:
Ramy Farha
Partner, Oliver Wyman
Michele Ushkowitz
Americas Head of Operational Risk, Société Générale
RSVP HERE
For event-related questions, please contact Jay Hirsch, [email protected].
