• After the fire fighting, a reappraisal of how risk models are understood and used in the organisation.
• What are the longer-term implications for risk management of the regulatory response to the crisis?
• Preventing the next crisis: identifying systematic risk, the common cause of risk managers and regulators.
• The need for enterprise-wide risk management: suggestions for a strategic risk agenda.

Idzard Van Eeghen, Group Head of Integrated Risk Management, ABN AMRO Bank

• How plummeting asset values and liquidity shortages have put traditional and alternative investment managers under pressure, and made their risk management frameworks creak at the seams.
• What investment managers are doing to improve their risk management by, for example, following the recommendations on risk management in the Investment Management Association’s recent review of the industry, and in the Institute of International Finance’s report on market best practices.
• The implications of better risk management for investors – the customers.
• The impact of global regulatory reform on how risk and capital is managed in investment firms.
• Enterprise-wide risk management as a way of meeting the challenges.

Tomas Hazleton, Director of Risk Management Europe, AllianceBernstein

• How the turbulence in the financial markets stretched insurance companies’ risk management policies and procedures; lessons learned, including strengthening risk and capital management (eg the risk of uncertainty in the valuation of assets and liabilities); managing liquidity risk; the use of stress testing and scenario analysis compared to models; contingency action plans.
• The impact on customers: eg potential for increased lapses; more focus on the prevention and detection of fraudulent claims; heightened competition among insurers resulting in better deals for customers.
• What do the regulators have in store? Solvency II, Turner, Walker and other developments in insurance regulation and supervision in the UK, European Union and elsewhere will impact insurance companies’ approach to risk management. The new importance of Pillar 3.
• The importance of a holistic approach, spanning the entire organisation.

• CEBS's response to the crisis: an enhanced regime for controlling liquidity risk, and strengthened risk management practices.
• The future of financial regulation and supervision in Europe: the challenges ahead.

Arnoud Vossen, Secretary General, Committee of European Banking Supervisors

• Key imperatives of risk management: establishing the firm’s risk appetite, monitoring and enhancing the effectiveness of the risk framework, maintaining an enterprise-wide approach.
• Risk modelling, measurement, analysis and control: quantitative versus qualitative techniques.
• Getting it right with internal governance and clarifying responsibilities:
  • The CRO and the executive management board.
  • The supervisory board and the risk committee.