Roundtable on Operational Risks

The upcoming Roundtable on Operational Risks will focus on key developments and practical approaches to strengthen operational resilience in the financial sector.

Process map as a basis for BCM and operational resilience

In its Circular 2023/1, FINMA frequently refers to “critical processes”, thus making an implicit reference to an underlying process map that serves as the basis for various requirements.
By means of some project examples, we will show how a process map can improve the effectiveness of BCM, operational resilience as well as internal risk and control system (IRCS) frameworks.

Risk and control taxonomy

Many banks work with traditional risk taxonomies which are often too extensive and complex. It is best practice to streamline any old taxonomies and adequately describe the main risk types by including a control taxonomy with clear control objectives. The project examples will illustrate how a streamlined risk taxonomy in connection with a control taxonomy can increase IRKS transparency and effectiveness.

IRKS modernization / automation

An optimized IRKS is the basis for its subsequent modernization and automation. In this part of our session, we will explore how modern AI tools can help automate IRKS to reach the next level of maturity. We will have a look at further project examples to show the opportunities to improve effectiveness, transparency and quality.

Agenda:

08.45 | Registration and coffee
09.00 | Welcome and introduction
09.15 | Process map as a basis for BCM and operational resilience
09.55 | Risk and control taxonomy
10.35 | IRKS modernization / automation
11.15 | Summary and conclusion
11.30 | Apéro riche

Additional information:

• Attendance is by personal invitation only
• This event will be held in German