Ready. Steady. Risk. 2 months to go!
Announcement posted by Reconnect PR 25 Sep 2016
RMIA National Conference to deliver an impressive array of keynote speakers
Ready. Steady. Risk. 2 months to go!
RMIA National Conference to deliver an impressive array of keynote speakers.
25th September 2016, Sydney, Australia, The Risk Management Institution of Australasia conference takes place on the 16th-18th of November 2016 at The Crowne Conference Centre in Melbourne.
One of the keynote speakers, Chris MacKinnon, from Lloyd’s will examine Emerging Risk.
MacKinnon states: “Lloyd’s defines an emerging risk as an issue that is perceived to be potentially significant but which may not be fully understood or allowed for in insurance terms and conditions, pricing, reserving or capital setting. It is important to understand that in some cases the threat itself is not emerging, but our vulnerability to the risk it poses is.
Human Pandemic is a good example – The Spanish Flu pandemic in 1918 killed nearly 100m people. Modern medicine, response coordination and communications have significantly improved the risk, but global society, and international movement of people increases the threat for the fast spread of disease dramatically. Spanish Flu took three months to go global – Swine Flu took three weeks.”
Keynote speaker, Kate Hughes, Chief Risk Officer at Telstra will review the differences between risk management between public and private sector organisations.
Kate Hughes gives us a taste of what will be discussed by highlighting the following:
“There are a few differences, some of it is driven by different stakeholders but there is also the issue of transparency and that can drive different approaches to risk appetite and risk management.
Most privately held companies are not required to disclose their financial information and they don’t need shareholder approval for their strategy so can possibly choose to pursue more (or less) risk.
This can mean that they can shift their focus more simply, potentially focusing more on long term growth rather than making sure shareholders are receiving their dividends. However private companies may struggle to attract directors with risk management experience as they often have smaller boards and the regulatory requirements around governance aren’t so obvious, so there may be a disconnect between management and board about how risk should be managed, and yet in some cases given the lack of capital markets support, it’s arguable that risk management practices should be stronger.
You could argue that in publicly listed companies the board is required to very visibly manage risk and there is greater transparency about how they do that but these organisations tend to be larger with strong capital markets supporting them whereas in private companies the board is less visible and there are fewer requirements around risk management and disclosure of governance practices.
Generally speaking, public corporations are more likely to be subject to regulatory scrutiny, particularly those with specific regulatory risk requirements relating to their operations. All of these things will influence the risk tolerance and appetite and ultimately the types of risk management strategies the company employs.”
The RMIA conference will be a conduit for ideas, debate, networking and discussion which will become part of the matrix for a better business environment in the Asia Pacific and the international risk community.
For more information and to book go to: http://rmiaconference.com.au
Media Enquiries:
Candice Meisels
candice@candicepr.com
RMIA National Conference to deliver an impressive array of keynote speakers.
25th September 2016, Sydney, Australia, The Risk Management Institution of Australasia conference takes place on the 16th-18th of November 2016 at The Crowne Conference Centre in Melbourne.
One of the keynote speakers, Chris MacKinnon, from Lloyd’s will examine Emerging Risk.
MacKinnon states: “Lloyd’s defines an emerging risk as an issue that is perceived to be potentially significant but which may not be fully understood or allowed for in insurance terms and conditions, pricing, reserving or capital setting. It is important to understand that in some cases the threat itself is not emerging, but our vulnerability to the risk it poses is.
Human Pandemic is a good example – The Spanish Flu pandemic in 1918 killed nearly 100m people. Modern medicine, response coordination and communications have significantly improved the risk, but global society, and international movement of people increases the threat for the fast spread of disease dramatically. Spanish Flu took three months to go global – Swine Flu took three weeks.”
Keynote speaker, Kate Hughes, Chief Risk Officer at Telstra will review the differences between risk management between public and private sector organisations.
Kate Hughes gives us a taste of what will be discussed by highlighting the following:
“There are a few differences, some of it is driven by different stakeholders but there is also the issue of transparency and that can drive different approaches to risk appetite and risk management.
Most privately held companies are not required to disclose their financial information and they don’t need shareholder approval for their strategy so can possibly choose to pursue more (or less) risk.
This can mean that they can shift their focus more simply, potentially focusing more on long term growth rather than making sure shareholders are receiving their dividends. However private companies may struggle to attract directors with risk management experience as they often have smaller boards and the regulatory requirements around governance aren’t so obvious, so there may be a disconnect between management and board about how risk should be managed, and yet in some cases given the lack of capital markets support, it’s arguable that risk management practices should be stronger.
You could argue that in publicly listed companies the board is required to very visibly manage risk and there is greater transparency about how they do that but these organisations tend to be larger with strong capital markets supporting them whereas in private companies the board is less visible and there are fewer requirements around risk management and disclosure of governance practices.
Generally speaking, public corporations are more likely to be subject to regulatory scrutiny, particularly those with specific regulatory risk requirements relating to their operations. All of these things will influence the risk tolerance and appetite and ultimately the types of risk management strategies the company employs.”
The RMIA conference will be a conduit for ideas, debate, networking and discussion which will become part of the matrix for a better business environment in the Asia Pacific and the international risk community.
For more information and to book go to: http://rmiaconference.com.au
Media Enquiries:
Candice Meisels
candice@candicepr.com