Date: Thursday, 23rd September 2021
Time: 11.00 am – 12.30 pm
Place: Virtual
Conduct Risk, is the risk that inappropriate actions or inactions by financial services providers cause poor and unfair customer outcomes and / or market instability. In 2020, The Central Bank of Ireland (the “Central Bank”), refocused its activities on Conduct Risk concerns in the Insurance Sector, in particular in respect of Differential Pricing and Business Interruption Insurance. In addition, in its Consumer Protection Outlook report of March 2021 it set out its future areas of focus, including establishing a consumer centric culture, robust oversight, transparency of information to and suitability of product design for customers. Moreover, the introduction of the Conduct Standards under the proposed Individual Accountability Framework will require Regulated Financial Services Providers (“RFSPs”) to hold in-scope individuals accountable for their actions in ensuring good customer outcomes and market integrity.
Therefore, establishing a robust Conduct Risk Framework is key to ensuring that financial services providers have the necessary governance structures and tools in place in order to effectively manage Conduct Risk, safeguard customers and meet the Central Bank’s expectations.
Our event, the Conduct Risk Framework Masterclass, will be hosted by KPMG and as part of this event we will discuss the following:
- The function of an effective Conduct Risk Framework within the firm’s overall Risk Management Framework
- The key elements of an effective Conduct Risk Framework, including approach to Design and the importance of Management Information
- Common challenges in embedding an effective Conduct Risk Framework
- The interlock between the Conduct Risk Framework, Consumer Protection Risk Assessment and the proposed Conduct Standards
In addition, the Masterclass will include facilitated discussions in order to allow attendees to share common experiences and challenges. This will equip you and your firm with the knowledge and insights in order to ensure that you can design and embed a Conduct Risk Framework that is both appropriate for your business model and effectively manages Conduct Risk and addresses the Central Bank’s expectations.
Speakers
KPMG has extensive experience in working with clients on Conduct Risk related engagements and therefore, will bring the latest insights on key challenges and lessons learned from Conduct Risk related issues with expert speakers:
- Yvonne Kelleher, Director, KPMG in Ireland
- Gillian Kelly, Partner, KPMG in Ireland
- Bríd Cannon, Director, KPMG in Ireland
Please note that this Masterclass will be limited to 30 attendees and places will be taken on a first come first served basis.
This event is open to Insurance Ireland members only. For further details or to attend please contact events@insuranceireland.eu