11/5/2014 NORTH AMERICA NEW YORK THE RISK CONFERENCE FOR THE INSURANCE COMMUNITY

Transcription

1 REGULATION ORSA PRODUCT DEVELOPMENT ALM STRESS TESTING MODEL RISK ERM 11/5/2014 NEW YORK THE RISK CONFERENCE FOR THE INSURANCE COMMUNITY insurancerisknorthamerica.com Insurance Risk North America provides a forum for the industry to share best practice and address key regulatory, financial and operational challenges. This year s event will focus on the most urgent issues facing practitioners and the evolving role and the future of CROs working in the insurance industry. Lead sponsor Presentation sponsors Hosted by

2 Welcome... Dear colleague, Insurance Risk is pleased to announce that our annual Insurance Risk North America conference will take place in New York on November 5th. Bringing together some of North America s leading thinkers and experts in risk management and regulation, the comprehensive agenda for this year s event will include cutting-edge sessions and in-depth discussions providing insight and practical advice that will benefit your business. Insurance Risk North America will help you stay up-to-date with the latest developments, benchmark against your peers and implement practical solutions to today s challenges. Main topics to be addressed include: Regulatory challenges and implications for the business Risk management s role in new product development ALM in the current environment ORSA best practice Model risk and model governance Measuring and communicating the value of risk management Strengthening strategic planning through stress testing With a blend of lively debate and incisive commentary, delivered through panel discussions, practical case studies and in-depth presentations, Insurance Risk North America is not to be missed. I look forward to welcoming you to New York. Yours faithfully, Rob Mannix Editor, Insurance RIsk To secure your place please contact our customer representative on: Tel: liza.roure@incisivemedia.com

3 11/5/2014 NEW YORK Who should attend? JOB TITLES INCLUDE... Chief Risk Officers Chief Financial Officers Chief Investment Officers Chief Information Officers Chief Technology Officers Chief Actuaries Heads of ALM Heads of Asset Allocation Heads of Audit Heads of Compliance Heads of Investment Management Heads of Operational Risk Heads of Risk Treasurers Why attend? Hear solutions to the major issues facing the life and non-life insurance industry in 6 main areas: The next generation of regulation ORSA best practice ALM and new product development Operational risk management Model risk governance The value of risk management FROM COMPANIES SUCH AS... Insurance companies (life and non-life insurance) Reinsurers Regulators Asset managers Consultancies Investment banks Rating agencies Technology providers Benefit from practical examples from senior risk managers from across North America, via in-depth presentations and lively panel discussions Opportunity to meet with your peers, leading regulators and practitioners to ensure you are up to date with the latest developments & challenges and make sure you stay ahead by gaining an insight into new opportunities Get answers to the questions you want answered by our expert speakers Speakers include KEYNOTE SPEAKER: Nick Silitch Senior Vice President, Chief Risk Officer, PRUDENTIAL FINANCIAL Danny Saenz Deputy Commissioner, TEXAS DEPARTMENT OF INSURANCE Rahim Hirji Executive Vice President & Chief Risk Officer, MANULIFE FINANCIAL Joe Celentano Chief Risk Officer, PACIFIC LIFE INSURANCE COMPANY Todd Daniels Chief Risk Officer, AFLAC John Langione Chief Risk Officer, QBE NORTH AMERICA Steven Verney Executive Vice President and Chief Risk Officer, ALLSTATE Robert Rupp Executive Vice President and Chief Risk Officer, THE HARTFORD FINANCIAL SERVICES GROUP Lori M Evangel Chief Risk Officer, GENWORTH Steven A. Zabel Senior Vice President and Chief Risk Officer, UNUM

4 PROGRAM MORNING SCHEDULE 07:40 Registration and refreshments 08:40 Chairman s welcome address: Rob Mannix, Editor, INSURANCE RISK 08:50 KEYNOTE ADDRESS Nick Silitch, Senior Vice President, Chief Risk Officer, PRUDENTIAL FINANCIAL 09:30 PANEL: Regulatory challenges and implications for the business The development and calibration of global insurance capital standards (BCR and ICS) Bridging the gap between the US and Europe on Solvency II equivalence The role of the Federal Insurance Office and its implications Evaluation of ComFrame Principle-Based Reserving Preparing for the next generation of regulation Rahim Hirji, Executive Vice President and Chief Risk Officer, MANULIFE FINANCIAL Further panelists to be confirmed, please visit the event website for further updates 10:20 Morning break and opportunity to network 10:40 PANEL: Risk management s role in new product development How to identify risk in products Strategies for managing risk in investment products Product design best-practice Balancing the risk/return trade-off Joe Celentano, SVP, Chief Risk Officer, PACIFIC LIFE INSURANCE COMPANY Todd Daniels, SVP, Global Chief Risk Officer, AFLAC Gideon Pell, Chief Risk Officer, INVESTMENTS GROUP NEW YORK LIFE 11:25 PANEL: ALM in the current environment Portfolio optimization and strategic asset allocation Finding yield Connecting ALM limits to risk appetite Scenario and stress testing Hedging strategies for rising interest rates Managing tail risk in the portfolio MODERATOR: Doug French, Managing Principal, ERNST & YOUNG Bryan Boudreau, Senior Vice President and Global Head of ALM, METLIFE Jared Klyman, Head of Insurance Strategy, Vice President, GOLDMAN SACHS John Rhodes, Chief Risk Officer, LINCOLN FINANCIAL GROUP 12:10 PANEL: ORSA best practice How to comply with the regulation Process vs report Use test: how to add value through ORSA. Using ORSA to set capital targets Determining when the ORSA is aligned with strategic company objectives Managing to ORSA capital and/or regulatory capital levels Board/Senior Management involvement and responsibilities Steven Verney, Executive Vice President and Chief Risk Officer, ALLSTATE James K. Gilligan, President and CEO, BLUE CROSS LIFE INSURANCE COMPANY OF CANADA Steven A. Zabel, Senior Vice President and Chief Risk Officer, UNUM Danny Saenz, Deputy Commissioner, TEXAS DEPARTMENT OF INSURANCE; Chair, ORSA Committee, NAIC 12:55 Lunch and opportunity to network

5 PROGRAM AFTERNOON SCHEDULE 1:45 PANEL: Model risk and model governance Key components in the process Model validation Model development Independent model challenge and vetting Model risk policies Roles and responsibilities - Board/Risk Management/Internal Audit MODERATOR: Chad Runchey, Senior Manager, ERNST & YOUNG Meyrick Douglas, Managing Director, Chief Market Risk Officer, PRUDENTIAL Lori M Evangel, Chief Risk Officer, GENWORTH Gary G Venter, Head of PC Model Validation, AIG 2:30 Cloud computing for the insurance industry: benefits and challenges The benefits and challenges of using the Cloud for enterprise applications Comparison of various Cloud ecosystems/services currently available Data security policies and regulatory concerns The results from the Insurance Risk / IBM survey Solvency II and the Cloud to see how insurers in Europe are leveraging the Cloud to address parts of Solvency II Curt Burmeister, Director, Buy Side and Cloud Solutions, IBM Risk Analytics 3:10 Afternoon break and opportunity to network 3:30 Strengthening strategic planning through stress testing Integrating dynamic assumptions from the business lines Incorporating stress scenarios into the financial forecast Optimizing strategic asset and liability allocations Brian Rhoads, Practice Leader for Insurance, QUANTITATIVE RISK MANAGEMENT 4:10 PANEL: Operational risk management and measurement Operational risk management systems Fed s requirements for operational risk management infrastructure Capital models related to operational risk Latest strategies in risk event capture Integration into risk appetite frameworks Practical challenges in managing operational risk Mary Molloy, Senior Managing Director of Operational Risk, AIG Brad Hoffman, Head of Operational Risk, Enterprise Risk Management, MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY Chad Mentzel, Director of Enterprise Operational Risk Management, TIAA-CREF 4:55 PANEL: Measuring and communicating the value of risk management How do we know that ERM creates value? How to communicate value creation How to operationalise ERM Beyond a regulatory compliance exercise John Langione, Chief Risk Officer, QBE NORTH AMERICA Robert Rupp, Executive Vice President and Chief Risk Officer, THE HARTFORD FINANCIAL SERVICES GROUP Todd M. Jones, Vice President and Chief Risk Officer, NORTHWESTERN MUTUAL 5:40 Bringing it all together: key take-aways from the conference Bill Spinard, Executive Director, ERNST & YOUNG 6:00 Chairman s closing remarks. Cocktail reception

6 SPONSORS Lead sponsor: ERNST & YOUNG EY is a recognized leader in providing assurance, tax, transaction and advisory services to life, health, property and casualty insurers and reinsurers worldwide. Our dedicated team of more than 9,000 insurancealigned professionals span many disciplines and offer a well-rounded understanding of business issues and challenges as well as integrated services to our clients. They include actuarial, risk, finance improvement, operations improvement, transactions, accounting and accounting implementation, financial reporting and business intelligence and analytics professionals with deep subject matter knowledge who assist clients in enhancing their business opportunities. In doing so, we play a critical role in building a better working world for our people, our clients and our communities. ey.com Presentation sponsors: IBM, RISK ANALYTICS IBM, Risk Analytics software delivers data-driven insights that help organizations work smarter and outperform their peers. This comprehensive portfolio includes solutions for business intelligence, predictive analytics and decision management, performance management, and risk management. Risk Analytics solutions enable companies to identify and visualize trends and patterns in areas, such as customer analytics, that can have a profound effect on business performance. They can compare scenarios, anticipate potential threats and opportunities, better plan, budget and forecast resources, balance risks against expected returns and work to meet regulatory requirements. By making analytics widely available, organizations can align tactical and strategic decision-making to achieve business goals. IBM.com QRM Quantitative Risk Management is the world s leading enterprise risk management consulting firm. QRM develops industry-leading risk management principles, practices, and models, and provides clients with the advice, knowledge, and tools necessary to adopt those innovations, thus increasing their risk-adjusted returns. For over 20 years, QRM has partnered with clients to enhance their ability to measure risk, identify profitable opportunities, and make sound financial decisions. With offices in Chicago, London, and Singapore, QRM has established over 250 long-term engagements with top financial institutions from the banking, finance, and insurance industries worldwide. qrm.com

7 VENUE We are proud to host this year s Insurance Risk North America at the Roosevelt Hotel. Venue Details: The Roosevelt Hotel, 45 EAST 45TH ST. AT MADISON AVENUE, NEW YORK, NY x 20+ Senior level speakers Tel: SPONSORSHIP OPPORTUNITIES For all sponsorship enquiries please contact Scott Harris on: Tel: +44 (0) scott.harris@incisivemedia.com Network with 120+ insurance professionals

8 11/05/2014 NEW YORK BOOKING FORM DELEGATE TYPE EARLY BIRD book by October 10th 2014 FULL RATE Insurance companies / Pension Funds / Regulators $999 $1199 Investment bank / vendor / consultant / other service providers $1199 $1399 REGISTRATION DETAILS Please complete your details below in block capitals TITLE FIRST NAME FAX ADDRESS LAST NAME JOB TITLE/POSITION DEPARTMENT COMPANY TELEPHONE POST/ZIP CODE COUNTRY PAYMENT DETAILS I enclose a cheque payable to Incisive Financial Publishing Ltd. Please debit my AMEX VISA MAESTRO MASTERCARD ISSUE NUMBER: VALID FROM: EXPIRES: card no. security no. VENUE The Roosevelt Hotel 45 EAST 45TH ST. AT MADISON AVENUE, NEW YORK, NY Tel: ACCOUNT ADDRESS (if different from above) SIGNATURE DATE Please sign here to confirm you have read, understand and agree to all the terms and conditions below SIGNATURE back to: conference.delegates@incisivemedia.com Fax back to: +44 (0) or book online at: insurancerisknorthamerica.com Disclaimer: We accept bookings on the understanding that if we cannot meet our obligations because of circumstances beyond our control, we will not be held liable for loss suffered by you or a third party. This includes (without limitation) a change in the programme or an alteration to the venue and/or speakers. Venue Rules:You must comply with all rules, regulations, and other reasonable instructions of the owner of the venue at which the event is taking place. Photography: Photography and/or recording (whether visual or aural) of the proceedings of the event without our prior written consent are strictly prohibited. Personal Effects: We are not responsible otherwise liable to you for loss or damage to your personal property while you are in attendance at the venue at which the event is taking place. Liability: Except in relation to personal injury/death arising from our negligence or fraud, we shall not be liable to you for any sum greater than the amount you are liable to pay to attend the event. Cancellation/Substitution: Cancellations must be received in writing more than three weeks before the event. If a cancellation is received within three weeks of the event the delegate fee will be payable in full. Cancellations more than three weeks before the event are subject to a 10% administration fee. A substitute delegate is always welcome, but the organiser MUST be notified in advance of the event to avoid incurring a charge. Delegate substitutions may NOT be made at the event. If you do not attend the event or notify us of your intention to cancel, the full fee will still be payable. Payment: Payment must be received before the event start date. If we have not received payment in full by the event start date, you will be required to provide a credit card guarantee on the day to gain entry. Data Protection: By registering for Insurance Risk North America, Incisive Financial Publishing Limited will send you further information relating to this event. In addition we will send you information about our other relevant products and services which we believe will be of interest to you. If you do not wish to receive other relevant information from Incisive Financial Publishing Limited via a particular medium, please tick the following relevant boxes: Mail Tel Incisive Financial Publishing Limited will also allow carefully selected third parties to contact you about their products and services. If you do not wish to receive information from third parties via any of the following media please check the relevant boxes: Mail Tel 4925/14