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Creating a Strategic ERM Process

Date: Tuesday, February 12, 2013
Time: 8 am Pacific | 11 am Eastern
Duration: 1 hour

Join this panel discussion, where Holly Kay Vavrek, Chief Audit Executive of Noranda Aluminum will discuss with Michael Bechara, Corporate Risk Expert & Managing Director of Granite Consulting Group Inc, Shai Grabie, Project Manager at Granite Consulting Group and Vinay Bapna, Sr. Director of Product Marketing at MetricStream about how Noranda's CAE took a routine, check the box, survey centered enterprise risk process and created a strategically focused risk evaluation process that became embedded in the business, setting the direction for future internal audits and serving as a guide for operational improvement.

Attendees will learn to go beyond linear "top 10" surveys and to incorporate macroeconomics, comparable company risks and sophisticated analyses of internal company views that focus on achievement of company goals as opposed to risk mitigation for the sake of risk mitigation. After attending this session attendees will be able to:

  • Use macroeconomic trends to identify external environment risks
  • Compare comparable company risks
  • Understand how to use analytical tools to develop more valuable insights into company risk surveys
  • Understand how to combine these tools to identify the most significant risks

Panelists

Holly Kay Vavrek, CFE, CPA - Chief Audit Executive (CAE), Noranda Aluminum
Ms. Vavrek is the Chief Audit Executive (CAE) for Noranda Aluminum, a publicly traded NYSE company. She has built and transformed Noranda's internal audit function over the past 3 and a half years including being part of the team that took the company public. In addition to being CAE, Ms. Vavrek currently serves on several key senior management committees, including the disclosure and risk committees. Her previous background includes Internal Audit management positions in the defense & aerospace industries.

Michael Bechara - Corporate Risk Expert & Managing Director of Granite Consulting Group Inc.
Mr. Bechara is a Managing Director of Granite Consulting Group Inc. and the principal author of The Weekly Reconciliation blog (www.weeklyrecon.com). Mr. Bechara advises clients on risk assessment, internal audit and profitability issues. Granite's risk assessment methodology continues to garner interest from practitioners interested in a practical and business oriented approach to Enterprise Risk Management (ERM). His recent work in the area of risk assessment has been featured in major publications and at IIA national events.


Shai Grabie - Project Manager, Granite Consulting Group Inc
Los Angeles native Mr. Grabie has always been interested in the way the world works. He pursued this interest by majoring in Economics to better understand the interplay of economic actors and by traveling to corners of the earth to see life there firsthand. Combined with a first class finance training at Deutsche Bank and NYU, Mr. Grabie has developed a unique ability to synthesize disparate data points and create solutions.

Mr. Grabie was part of a Mergers & Acquisitions team that helped grow a defense and aerospace manufacturer from a sub-$500 million revenue company to over $1 billion within 3 years and then again as a Director of Mergers & Acquisitions at Thomson Reuters Tax & Accounting, helping drive revenue from just over $700 million to over $1 billion in under 3 years. Current projects have included developing a hedging strategy for a commodity based business and a risk assessment for a major airline.

Vinay Bapna - Sr. Director of Product Marketing, MetricStream


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