Non-Financial Risks and Operational Resilience

New York: The GARP New York Chapter will host an exciting event to explore recent trends and non-financial risks, through two of these risks particularly impacted by the current context: cybersecurity and model risk. Rise of external threats, renewed attention from regulators, new technologies, increased sophistication. These two risk types exemplify trends that can be observed in most non-financial risks.

We will first explore the intersections between operational resilience and information security through three strategic lenses by:

• Operational Resilience & Business Continuity: Examining organizational vulnerabilities within key supplier ecosystems, dependencies on mission-critical business processes, and emerging threats from compromised data integrity.
• Supply Chain Risk Management: Analyzing sophisticated attack vectors that exploit multi-tier relationships within interconnected financial networks.
• Information Security Governance: Addressing evolving threats including data poisoning techniques, emerging governance frameworks, and advanced technical risk mitigation strategies.

Then the other speakers will focus on the transformative journey undergone by Model Risk Management (MRM):

• The convergence of MRM with other non-financial risks, including event and issue management, as well as risk assessment, evolving from a gatekeeper role to that of a risk assessor.
• New technologies coming for MRM as for other risk types, and MRM coming for them.
• The importance of data governance and quality: is MRM becoming an operational risk like any other?
• Stress testing and scenario analysis: managing model risk for extreme conditions.

The opportunity to socialize and network with colleagues will follow the discussion. 

Registration is required as seats are limited. Priority will be given to GARP Individual Members.