Annual Chief Risk Officers Forum - October 2011

Annual Chief Risk Officers Forum - October 2011

A key event on the annual RMA calendar, the Chief Risk Officers forum provides an important opportunity for senior risk executives to explore common issues faced by our members in the management of risk and regulation across the industry.

Delegates at this years forum included the Group Chief Risk Officers from the major Australian banks along with CRO’s from our other member institutions, which we believe made this years event the most successful yet. The event was hosted by ANZ in their fabulous conference facilities in Docklands, Melbourne.

Guest speakers included Peter Warne, Non-Executive Director of Macquarie Bank and the ASX who spoke at a dinner hosted by KPMG on issues that are top of mind for Boards in Risk and Governance;

Wayne Byres, Executive General Manager Diversified Institutions at the Australian Prudential Regulatory Authority and newly appointed Secretary General of the Basel Committee for Banking Supervision discussed issues and challenges in prudential supervision.

Hugh Harley, Financial Services Leader at PwC facilitated a discussion based around three questions:

1. What is the biggest risk to Australia's financial sector profitability/sustainability over the next five years?

2. How far through the GFC are we? Does current CRO power/influence reflect that?

3. Is technology the soft underbelly for CRO's?

Chris Page, CRO of ANZ reflected on the influences that have shaped the industry over the past few years and Alden Toevs, CRO of CBA closed the forum with insights on the issues currently facing the industry.

The theme for this year was ‘Risk in the Business’ with breakout streams considering challenges in Retail and Commercial, Institutional and Wealth Management.

As the forum is conducted under strict 'Chatham House' rules, if you want to know the answers to the above questions or anything else that was discussed at the forum you will need to seek out one of the delegates.

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