Operational Risk & Resilience: Best Practices in View of the Pandemic

In the advent of the COVID Pandemic, regulators issued "Sound Practices to Strengthen Operational Resilience."

According to Sound Practices, "Operational resilience is the ability to deliver operations, including critical operations and core business lines, through disruption from any hazard." Furthermore, "It is the outcome of effective operational risk management combined with sufficient financial and operational resources to prepare, adapt, withstand, and recover from disruptions."

The regulators suggest that banks integrate the Sound Practices into their existing Operational Risk Management, stress testing, and ERM frameworks. The Regulators plan to engage in a dialogue with the various stakeholders to ascertain Best Practices of the Sound Practices.

This panel will shed light on the areas of the Sound Practices that relate to Operational Risk Management. It will address questions such as, how are banks responding to the Sound Practices? Have the Sound Practices been incorporated in the Safety and Soundness examinations fully? Are best practices of the Sound Practices beginning to emerge?

Moderator

Bob Kostakopoulos, Deputy Program Director and Lecturer, ERM Program

Panelists

Ramy Farha, Partner, Oliver Wyman

Michele Ushkowitz, Americas Head of Operational Risk, Société Générale

For event-related questions, please contact Jay Hirsch, jh3975 [[at]] columbia [[dot]] edu.

For additional information about program offerings at the Columbia University School of Professional Studies, please contact an Admissions Counselor at 212-854-9666 or inquire [[at]] sps [[dot]] columbia [[dot]] edu.