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Insurance Ireland’s – Milliman CRO Fora 1
March 12, 2015 @ 12:00 am
Agenda
| 07.30am | Registration – Tea and Coffee/Refreshments |
| 08.00am | Tom Barry, Actuary and INED – What the Risk Committee and INEDs are looking for |
| 09.00am | Networking – Tea and Coffee/Refreshments Break |
| 09.30am | Use of the Own Risk and Solvency Assessment (ORSA) – Facilitated Peer Debate |
Note – Please feel free to join the Forum at the 9am break if that time is more suitable for you.
Main Information
| Time: | 7.30am – 10.30am |
| Location: | Chartered Accountants Building, 47 Pearse Street, Dublin 2 |
| RSVP: | Friday, 6th March, 2015 by emailing – ann.oleary@insuranceireland.eu |
The topics for this session are as follows:-
Ø ”CRO : what the Risk Committee and INEDs are looking for – Tom Barry, actuary and INED”
Ø Use of the ORSA – Facilitated Peer Debate
The first agenda item is a discussion with Tom Barry, who is an actuary and experienced Independent non-executive director, currently Chair of Audit on the board of New Ireland Assurance Company and Chair of Risk with Aegon Ireland. He was Managing Director of Canada Life from 2001 to 2009 and more recently was on the Board of Directors of Irish Life (and Chair of Risk) until its takeover by Great West Lifeco in 2013. Tom is a former President of the Insurance Ireland and former Chairman of Setanta Asset Management. Tom will provide insight into what Risk Committees and INEDs want from the CRO including :
– which current issues are most concerning for INEDs
– what are the traits of a good CRO
– a short discussion on the 3 lines of defence model
– what is the working relationship between CRO and Chair of the Risk Committee
This session will also incorporate a questions and answers session with Tom, allowing the CRO community the opportunity to discuss board risk issues and priorities in a relatively small gathering.
The second agenda item looks at the how the ORSA can (and should) be used as part of the decision-making process in your organisation, and how this use can be demonstrated to external stakeholders. All companies performed an ORSA during 2014 (the Forward Looking Assessment of Own Risks) and reported the results to the CBI. Many of those companies are currently working on their 2015 ORSA. These are not stand-alone processes though, culminating in an ORSA report, but rather ongoing processes which impact many aspects of the internal working of the organisation. In this session we will discuss how the ORSA can be used in practice and how this use can be demonstrated.
The CRO Forum is designed to be a high-level discussion group exclusively formed and attended by Chief Risk Officers of Insurance Ireland Member and Associate Member companies. The purpose of the series is to engender debate and discussion, facilitating peer learning, network building and the sharing of experience and knowledge in this community.
The nature of future events falling under this series will be informed by your inputs and feedback, to ensure the series continually delivers value to the network it is designed to engage.
This Insurance Ireland Event is open to Insurance Ireland members only or by invitation from our CEO.