EY Banking & Capital Markets Webcast
Rethinking risk management:
Banks focus on non-financial risks and accountability
Our annual risk management survey of major financial institutions, scheduled for release on 8 October, finds 89% of banks increasing their focus on non-financial risk and 64% citing weaknesses in oversight and controls as the main cause of non-financial losses.
Nearly 70% of G-SIBs surveyed reported losses of more than US$1b from non-financial risks in the past three years, while 25% experienced losses up to US$20b.
Rising litigation costs, steep fines and reputational damage, along with regulatory and investor pressures, have compelled banks to change their approach to risk by re-examining non-financial elements and making front-office staff more accountable.
Our panelists will discuss findings from the survey and five key changes major banks are making to overcome challenges, improve risk management, and build profitability.
Watch the one-minute recap
Patricia Jackson leads the EY Prudential Advisory practices across Europe, Middle East, India and Africa (EMEIA).
Patricia joined EY in December 2004 and has been instrumental in building the banking risk and regulatory practice, focusing on Basel II, credit risk, liquidity risk, board training and stress testing.
In 2008 Patricia chaired a global industry working group for the Institute of International Finance looking into the causes of the financial crisis involving structured products and, in particular, the originate to distribute model. In 2014 she conducted a worldwide survey of changes being made by the banking industry in response to the crisis.
Prior to joining EY, Patricia was a senior official of the Bank of England and was head of the Financial Industry and Regulation Division. She represented the UK on the Basel Committee for Banking Supervision for seven years and led part of the development of Basel II, including the world wide QIS studies and calibration.
Peter Davis is a Principal and co-leads the EY Financial Services Advisory practice. He has worked extensively with many of the largest financial institutions in the enhancement of their risk and capital management processes.
In recent years, Peter has worked with institutions in enhancing their governance and risk management frameworks and introducing new capabilities related to Basel II, enterprise stress testing, capital adequacy assessment, recovery and resolution planning and management reporting.
Peter continues to work closely with institutions on initiatives resulting from the financial crisis, assisting numerous global banks in the development of their recovery and resolution plans, the implementation of their Basel II programs, the build out and enhancement of their capital management adequacy assessment process and the enhancement of their enterprise stress testing frameworks, models and processes
Peter is in regular dialogue with the regulators and the industry on risk management and regulatory issues. He also routinely speaks and writes articles on credit risk, capital management and supervisory initiatives.
Peter received a BA from Pepperdine University and an MPM from the University of Maryland.
Institute of International Finance (IIF)
Andrés Portilla is the Managing Director of Regulatory Affairs at the IIF. He is in charge of leading the activities of the Regulatory Affairs department, which covers the whole spectrum of regulatory policy issues of interest to internationally-active financial institutions. His work covers topics related to prudential standards (both on capital and liquidity) for banks and insurance companies, systemic risk, cross-border resolution, financial infrastructure, international accounting, securities as well as regulatory policy issues in the context of emerging markets. The Department also spearheads the dialogue and interaction with international regulators and policy makers in the above areas.
Andrés has over 21 years of experience on financial regulatory issues. In his native country, Colombia, he occupied positions in the regulatory affairs departments at the national Banking Association as well as commercial financial institutions. He also practiced law in the area of banking and financial markets.
Andrés holds a JD and a Specialized Degree on Banking Law from University of Rosario in Colombia, a Masters in Comparative Law LL.M from Pennsylvania State University in the US and a MBA from Bocconi University in Italy.
Tom Campanile is a partner in EY’s Financial Services Office (FSO) Advisory Services practice of Ernst & Young LLP. He leads the risk governance team for our Financial Services Risk Management practice, advising multiple clients on requirements, industry practices and supervisory expectations for risk governance, ERM and internal controls.
Tom brings close to 20 years of experience providing a broad range of business and risk advisory services to a number of global priority clients in the banking, capital markets, insurance and asset management sectors. He has extensive knowledge of front-office, compliance, operational and enterprise risk management leading practices in banking, as well as deep experience in capital markets products and processes across front, middle and back-offices.
Tom has led a variety of projects focused on the benchmark of risk management and governance processes against industry peer group leading practices, and advised on the implementation and remediation of frameworks and tools to support risk management requirements at both the enterprise and line of business level.
Tom is a graduate of New York University's Stern School of Business and is a Certified Public Accountant in the state of New York