Risk Management – “Best Practices” / Management Roles and Responsibilities
Robert Geary is the founder of Greenwich Risk
Management Advisory Services “LLC” and services as the principal
consultant on many of the firm’s consultancy mandates.
Robert has been a banking and finance industry professional for 49 years with 34 years serving in a variety of senior Treasury, financial markets, asset management, and risk management roles at JP Morgan Chase & Co. During his career with JP Morgan Chase, he served in the following positions
- Head of Chase Manhattan Bank’s euro and other offshore funding activities
- Chase’s
first Asia/Pacific Area Treasury and Financial Markets Executive
located in Hong Kong with responsibility for the treasury, currency
trading/sales activities and securities portfolios of Chase’s branches
in nine countries that included the major centers of Japan, Hong Kong,
and Singapore
- Western Hemisphere Area Treasury and Financial Markets Executive with similar responsibilities for Chase’s branches in South America, Canada, Panama, and Puerto Rico
- National Sales Manager for Chase Securities
- Treasury and Financial Markets General Manager for Chase AMP Bank in Australia
- Risk Management and Treasury Executive for Chase’s Asset Management and Private Bank organizations
- Head of the risk management oversight function of Market, Credit and Operational Risk for Chase Asset Management
- Managing Director and Head of Fiduciary Risk Management for the Corporation
During Robert’s career he has served on the Board of Directors of Chase Manhattan Overseas Banking Corporation as well as having served on numerous senior committees that included Chase’s Portfolio and Investment Strategy Committee, Tax Committee, International Asset/Liability Management Committee, Chase Investment Policy Committee, and Capital Markets & FX Risk Management Committee. Prior to joining Chase, he held positions at Chemical Bank, Chrysler Financial Corporation and National Bank of North America.
Robert holds a BA degree in Economics from Pace University and did graduate studies in finance at New York University Graduate School of Business. He is a Past President of the New York Athletic Club and is currently a member of the Executive Advisory Board of St. John’s University Department of Accounting and Taxation.
The key to effective risk management in a corporation or other operating entities is knowing and understanding the types of risk present in its business activities, the ability to identify operating weaknesses that may generate a risk condition, and having formal mechanisms for addressing an identified weakness with the objective to eliminate or modify the associated potential of a risk event. The first line of defense within a business or function in managing risks is Risk Management and the Compliance functions with risk oversight of the business or functional activities. However, it is critical that business and functional managers and their staff, executive management, and Board members regularly engage in the risk management oversight process and have the knowledge to address risk management issues and the effectiveness of any required corrective actions.
Risk is present in all businesses and can take many shapes and forms. The management of risk within a business rests with
- The Board of Directors
- Executive management
- Senior business management
- Dedicated risk management organizations
- Dedicated compliance organizations and
- The audit function
Learning Objectives
To provide an in-depth understanding of risk in terms of
- Risk management thought the spectrum
- The risk environments of a business
- Types of risks
- Risk Conditions
- Causes of risk
- Risk preventives
Areas Covered
- Understanding Risk
o Provide a conceptual framework and thought the process to address the management of risk - Types of Risk
o Identify and delineate eight primary kinds of risk - Presence of Risk
o Review risk in the context of risk environments - Risk Events
o Discuss what constitutes a risk episode - Risk Consequences
o Discuss the four primary ways the results of a risk event can be manifested - Risk Conditions
o Address the circumstances that can generate a risk event - Causes of Risk
o Discuss what constitutes a cause of risk emanating from a risk condition and provide a large sampling of causes of risk - Risk Preventives
o Discuss what constitutes a risk preventive and provide a large sampling of risk preventives - Risk Management and Compliance Functions
o Reviews the differences in the roles of each function as well as their interaction - Actual Significant Risk Episode
o Review a major actual risk event in terms of consequences as well as the causes and risk preventives that were lacking. Places the elements of risk management is a powerful real-life context
Who Should Attend
This webinar will provide valuable assistance to all personnel with responsibility for
- Overall management oversight of an entity’s businesses
- Business and function-specific management
- Risk management at the corporate level
- Risk management and Compliance within a business or function
- Auditing businesses
- Regulatory oversight
- Educational programs at the university level
Why Should You Attend
The US business environment, as well as those of other counties, has experienced significant risk events with significant risk consequences over the years. In recent times there have been a plethora of risk episodes. Many of these episodes could have been avoided or modified if the entities experiencing the risk episodes had in place sound risk management practices. This presentation allows the participants to step back and reflect on all aspects of the risk management spectrum with an emphasis on the causes of risk and risk preventives. It is designed to help the formulation of risk management processes in a business or other operating entity and to educate participants on risk management methodologies.
The presentation also addresses the roles of the Risk Management and Compliance functions and establishes how the roles differ. Lastly, at the end of the presentation is a case study of an actual risk event that will generate significant insight into the consequences of a risk episode, the causes of the risk episode, and the risk preventives that were lacking. This case study will drive home the importance of the risk management practices addressed earlier in the presentation and this case study by itself will serve as a substantial risk management educational experience.
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$200.00
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