We are close to our final Forum of the year on December 11th and look forward to seeing our CROs again on the day and welcoming those who have not had the opportunity to attend thus far.
The topics for this session are as follows:-
Ø Risk Management and the regulator – Mark Burke Central Bank of Ireland
Ø The value added dimension of the role of CRO – facilitated peer debate
The first agenda item is a discussion with Mark Burke, Head of Life Insurance Supervision with the Central Bank of Ireland (relevant to both life and non-life companies). Mark will begin by providing an outline of the CBI’s observations and feedback on existing risk management practices. He will also outline some potential development opportunities and CBI expectations in relation to a number of topics including:
• Facilitating Board engagement in the ORSA process
• The role of the Board in setting risk strategy and risk culture
• The importance of clarity of expectations for the various stakeholders
• Skillset and positioning of the CRO
• Role of the CRO in the development of enterprise-wide risk management
This agenda item will also incorporate a questions and answers session with Mark, allowing the CRO community the opportunity to discuss risk issues and priorities in a relatively small gathering. We intend to compile a list of primary questions in advance of the meeting. Therefore, please send in any specific risk management or Solvency II related questions that you would like to ask Mark. Questions received in advance of the forum will receive priority but some time will also be allocated to discuss questions raised on the day of the meeting itself.
The second agenda item looks at ways in which the CRO can add real value to the organisation. There is sometimes a perception that the principal role of the CRO is to avoid and reduce risk and, in so doing, to place constraints on the business. This session offers an opportunity to discuss the many ways in which CROs are actually operating far beyond this level, encouraging the business to take the ‘right’ risks and making a meaningful contribution to the strategic direction and success of the organisation. We will also discuss ways in which this value-adding dimension to the role can be made more visible throughout the organisation.
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.
Please note registration is at 7.30am (with refreshments) and the Forum will run from 8.00am to 10.30am sharp (with a coffee break).
We hope you can join us on the morning of the 11th, please register your interest below.
For and on behalf of Insurance Ireland in partnership with Milliman,
Laura Farrell
Director of Membership Services and Event
Insurance Ireland