Model Risk Management, Black Swan Events & What I Wish I Knew Before Becoming a Chief Risk Officer Package On Demand

Three webinar series package.

Model Risk Management

Current risk management practice is based on decades of quantitative theory and practice. But what happens next? Will the use of models continue penetrating expert-based disciplines? Will models and validations expand quickly - requiring more regulation? Will the transition to alternative risk-free rates dramatically change how we manage rate and credit risk?

For inside insight, join Wharton’s Dick Herring and risk expert Kevin Oden as they explain the evolution of Model Risk Management - from its introduction in the 1950s, through the impact of personal computing and explosion of applying quant approaches, to 2021 where risk means managing the risk of the firm - not just the trading book. You will also hear their predictions on how key banking areas will be impacted by advances in modeling over the next decade and explore how institutions can ensure effective model risk management (MRM) in the face of any disruption.

We will also: 

• Explore how automation reduces the burden of compliance 
• Learn about emerging modeling techniques used in fraud detection 
• Discuss best practices in validating artificial intelligence and machine learning (AI / ML) models
• Identify common models impacted by the transition from LIBOR
• Understand the expanded role of models in digital banking

About Kevin D. Oden, Ph.D., Managing Director, RMA Model Validation Consortium, LLC: As Managing Director of RMA Model Validation Consortium, Kevin is passionate about providing high-quality model validation services at a competitive price point for RMA member banks. Kevin holds a Ph.D. in math from UCLA and was a leader in risk management and model validation for Wells Fargo Bank.

Black Swan Events

In this virtual "fireside chat," Wharton's Dick Herring goes deep with Dr. Stephany Head - President of OpRisk Associates - about how to create the foundation for optimal decision-making in a complex world, and why it's critical in an environment full of Black Swan events and Black Turkeys.

By attending this session you will:

• Gain a deeper understanding of the cyber ecosystem
• Understand the role of resiliency and black swan events
• Learn how inherent biases influence risk decisions- creating black turkeys

Dr. Head has worked with the Federal Government and private industry implementing enterprise risk management (ERM), and corporate performance management (CPM) programs for the assessment of large-scale information technology (IT) investments, as well as supported global companies in the areas of: strategic sourcing, supply chain management, operational risk management, governance, policy development, and IT outsourcing. She has spoken at the Federal Reserve on organizational performance, the Risk Management Association on Trends in Cybersecurity, was recognized as one of the top 50 Most Important African Americans in Technology (2010), and Black Engineer of the Year (2001). She has received national awards for combining business acumen and informational technology expertise to develop and execute strategic information technology plans aligned with corporate goals. She has experience supporting the Federal CIO agenda (Governance, EA, Information Assurance, Emerging Technologies, IT Process Improvement Disciplines (such as ITIL, COBIT, SDLC, policy, and Operations, etc.).
 
As President of OpRisk Associates, LLC., Dr. Head has over sixteen years’ experience providing strategic planning, enterprise architecture analysis, and consulting services including portfolio and risk management. She has supported global companies in the areas of: strategic sourcing, supply chain management, outsourcing, and global business continuity management solutions. She has developed risk management solutions for the Federal Aviation Administration for programs impacting the operational effectiveness of airports. She has spoken at the Sandton Convention Centre, Johannesburg, South on Business Continuity, and Crisis Management, and Pandemic Planning.

What I Wish I Knew Before Becoming a Chief Risk Officer

When Spyro Karetsos was an aspiring Chief Risk Officer he thought he knew everything that the role entailed. Afterall, he was a dual-sport athlete in college, earned an MBA, held early-career positions with the Fed, then leadership roles in risk management at Vanguard, Goldman Sachs, Sun Trust and TD Ameritrade. He knew all about strategic planning and execution, communication and collaboration, team building and goal setting, but what didn’t he know that he wished he had? In this compelling story Spyro describes in detail his journey to becoming a CRO (and CCO), and how his eyes were opened to the magic that goes on behind the curtain to put on a great show for all stakeholders.

We will also cover: 

• How to partner with business units across the organization on identifying and managing credit, market, and operational risks
• Keys to positioning the organization to optimize the risk/return relationship within the boundaries of the risk appetite
• The role of the CRO/CCO in shaping the strategic focus of the organization