Implementing Integrated Risk Management

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Integrated Risk Management: A Case Study of Federal Home Loan Bank of Chicago Date: Tuesday, August 28, 2012 Time: 8 am Pacific \| 11 am Eastern Duration: 1 hour

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Looking back at the financial crisis of 2008, the Banking and Financial Services Sector is unanimous in their analysis that the lack of an understanding of their risk exposures was one of the prime reasons for the crisis. What followed were a series of measures driven by regulators and supported by Banking and Financial Services (BFS) Institutions to ensure that there is a single view into the risk profile across risk categories and across business lines, product lines and business processes. BFS Institutions, from the largest to the medium and small sized institutions, for the last few years have adopted industry best practices and innovative technologies to provide higher risk visibility and better risk intelligence to drive their business decisions in an attempt to be better prepared for future macroeconomic shocks.

Federal Home Loan Bank of Chicago has been one of the pioneers in implementing an integrated risks and controls re-engineering program for an integrated and organization-wide risk governance structure. The program involved creating a framework of industry best practices to provide greater transparency and consistency to the risk and governance process across the organization, particularly to managers, executives and the Board. Federal Home Loan Bank of Chicago successfully changed the "compliance focused" culture to a "risk management" culture. Federal Home Loan Bank of Chicago's initiative helped them streamline their risk management processes, build a consistent and sustainable risk management approach, enhance visibility into risks, and integrate risk into decision-making.

The webinar will provide further insights into the best practices implemented by Federal Home Loan Bank of Chicago to integrate their risk management and GRC program which, in turn, won them the 2012 OCEG GRC Achievement Award.

The speakers will discuss the following learning objectives:

How a successful integrated Governance, Risk and Compliance management program is being implemented in BFS Institutions to provide strategic advantages
Best practices in building a risk management culture and processes in the organization
Steps in planning and implementing a strategic approach to risk management
Building a cost effective infrastructure for an integrated governance framework for the organization
Federal Home Loan Bank of Chicago's path towards successful GRC integration and technology implementation

Panelists

Tom Harper - EVP and General Auditor at FHLB Chicago
Prior to joining FHLB Chicago as Audit Director in June 2005, Mr. Harper worked for JPMorgan Chase (formally Bank One). Mr. Harper was in charge of the teams supporting Capital Markets & International Treasury Services, Commercial and Corporate areas, and Investment Banking. Latterly, he was accountable for the audit of JPMorgan's Corporate areas based out of New York. Prior to coming to Chicago, he was a manager on the International audit team based in the UK. Mr. Harper has managed business and technology audits and brings a proactive and creative product and business knowledge to all projects. Prior to JPMorgan/Bank One, he worked for BZW (a securities house) and prior to that KPMG for 5 years.

Mr. Harper is a Chartered Accountant, Certified Information Systems Auditor, Certified Internal Auditor and a Certified Financial Services Auditor. He is a member of the Institute of Chartered Accountants in England and Wales, the Information System Audit and Control Association, the Institute of Internal Auditors and the National Association of Corporate Directors. He is a graduate of the Imperial College of Science and Technology, London.

Susan Palm - Vice President of Industry Solutions, MetricStream
As the VP of Industry Solutions, Ms. Palm is responsible for driving growth for MetricStream in specific industries including Financial Services. Ms. Palm comes to MetricStream with over 27 years as a practitioner in Governance and Risk Management. Most recently, as the Senior Vice President of Audit and Risk at Sterling Savings Bank, Ms. Palm was responsible for Audit, Compliance, Fraud, Credit Review and Enterprise Risk Management. She has also spent several years in consulting. Prior to that, Ms. Palm spent over two decades at Norwest and Wells Fargo where she served as the Senior Vice President of Enterprise Governance and Risk Management. She was actively engaged with the Board of Directors, Federal Reserve, the OCC, other regulatory bodies, and has led various National Operational Risk committees eg BITS Regulatory Overlap Reconciliation and the Basel ANPR. She is a regular speaker at several forums in Governance Risk and Compliance (GRC). Ms. Palm received her B.A. in Economics from Lawrence University, and graduated from the Stanford Graduate School of Business' Executive Program.

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Integrated Risk Management: A Case Study of Federal Home Loan Bank of Chicago