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8:45 AM Opening Remarks
Jeanne Hollister, Managing Principal, Towers Perrin
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9:00 AM The Impact of the Financial Crisis on ERM Practices
The need for companies to take a sobering look at their approach to risk management and put words into action has never been more evident. There are many lessons to be learned about risk governance, risk tolerance and the importance of
transparency. How can insurers best manage their business in this challenging environment?
Prakash Shimpi, Managing Principal, Towers Perrin
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9:45 AM Keynote Address: Navigating a Challenging Market: Life Insurance Industry Perspective
Historic developments of recent months have redefined the financial services landscape and put ERM at the top of the priority list for every insurance company. Gideon Pell will share his views on how New York Life is managing its enterprise risk in the face of these changes and provide insights on what is working and what’s not.
Gideon Pell, SVP & Chief Risk Officer, New York Life Insurance Co.
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10:30 AM Networking and Refreshment Break with Exhibitors
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11:00 AM Now What? The Regulatory View on ERM
How are U.S. regulators thinking about ERM? What are the issues they are examining? What do they feel about issues of transparency and accountability? What will the developments of recent months mean for future regulations?
Jan Voigts, Examining Officer, Federal Reserve Bank of New York
Tim Nauheimer, Chief Risk Management Specialist, Capital Markets Bureau, New York State Insurance Dept
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11:45 AM Reinventing Risk Management in the Wake of the Sub-Prime Credit Crisis
The banking industry has historically been ahead of the curve on ERM, but then there was the subprime crisis. What lessons can insurers learn from this experience? This session will explore how so many financial institutions took a tremendous hit as well as the few that were able to relatively remain on track.
Dennis F. Kraft, Vice President, US and Global Fixed Income, Goldman Sachs Asset Management
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12:30 PM Networking Lunch
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Afternoon Program: Critical Components of Driving ERM within Your Institution
This afternoon’s sessions will delve into the critical components of driving ERM within your institution. Featuring best practices, practical opportunities for implementation and real life examples, attendees will get first hand insights on how to push their ERM agendas.
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1:45 PM Governance and Culture —The Essential Underpinning of a Risk Program
Risk management culture underpins the efficacy of the entire risk management process. A clear governance structure is essential to ensure buyin, accountability, independence and company commitment to the ERM program.
Ellen Cooper, FSA, CFA, Managing Director, Global Insurance Asset Management Group, Goldman Sachs Asset Management
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2:30 PM Risk Appetite—Defining the Boundaries for Risk
Risk appetite provides the reference point against which to benchmark all risk taking within the organization, by defining the boundaries for risk-based decision-making. Without a clearly articulated statement and process for managing risk, institutions can end up with a very different risk profile than anticipated.
Jeanne Hollister, Managing Principal, Towers Perrin
Terri Dalenta, EVP, Risk and Actuarial, Aviva North America
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3:15 PM Networking and Refreshment Break with Exhibitors
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3:45 PM Economic Capital—Driving Risk-Based Decisions and Value Creation
While insurance companies have made some good progress in integrating ERM into their business processes, more work is needed before economic capital (EC) is used universally to guide riskbased decisions. This session will focus on how successful companies are linking EC use to value creation.
Stephen Lowe, Managing Director, Towers Perrin
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4:30 PM Panel Discussion: ERM from the Experts
In this roundtable conversation, attendees will hear industry executives discuss current challenges, explore innovative techniques, and share best practices.
Moderator:
Hubert Mueller, Principal, Towers Perrin
Panelists:
Tracey Dedrick, Senior Vice President, MetLife
Lawrence P. Moews, Vice President and Corporate Risk Officer (CRO), Allstate
Mark Puccia, Managing Director, Standard & Poors
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| 5:30 PM Networking Cocktail Reception |
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