Taking Enterprise Risk Management to the Next Level: ERM 2019
The practice of enterprise risk management is maturing in Canada. But in a world where hard to predict and severe risks are the new normal, Enterprise Risk Management (ERM) has to up its game. Come and learn where Canadian organizations are at in their ERM practices and what you can do to make ERM an essential tool for growth in your organization.
Registration and Continental Breakfast
Opening Remarks from the Co-Chairs
Michael J. Bassett
The State of ERM in Canada: From Mitigating Risk to Driving Value
In this opening panel, participants will hear from leading organizations actively engaged in advancing ERM in Canada. Speakers will explore the results of the 2018 ERM Benchmarking Survey carried out by the Conference Board of Canada in collaboration with CPA Canada and the Global Risk Institute. The study, which gathers the perspectives of leaders of ERM from across Canada, points to the need to further embed ERM into strategy and decision-making in organizations.
Participants will also hear about key gaps in the ERM toolbox as highlighted by the study. This panel will discuss the implications of the results for the future of risk management in Canada.
Linking Strategy and Risk—A Leadership Perspective
Strengthening the connections between enterprise risk management and strategy is a key goal for embedding ERM. However, achieving this connection is often challenging. A crucial component is moving ERM from a discussion of threats into one that also focuses on opportunities.
Sonia Baxendale, GRI’s CEO, will engage in a wide-ranging conversation with high profile corporate leader Barbara Stymiest who will share a C-suite and board perspective on the benefits and challenges of ERM integration. Drawing from her deep experience as a corporate executive and board member, Barbara will reflect on how to move the needle on ERM integration and unleash ERM’s full potential. She will also share some thoughts on how ERM practitioners can demonstrate more effectively the true value that ERM brings to their organizations.
Emerging Risks—Disruption is the New Normal
Mitigating the potential impact of emerging risks is challenging enough for organizations, let alone tapping into the opportunities that may lie behind those new risks. To deal with the unknown, organizations have adopted a range of tools and approaches. The speakers on this panel will discuss what is required of ERM to deal with emerging risks, draw from their own experiences in planning for the unknown and share real-life strategies that will better equip participants to operate in an environment where unknown unknowns are no longer the exception.
Stranded in Excel—Time to Move Beyond Basic Technology for ERM?
The 2018 ERM Benchmarking Survey shows that despite the wealth of tools promising to integrate risk management, many practitioners continue to rely on basic office tools for their ERM program.Technology can facilitate greater integration of risk management. Yet, few Canadian organizations have embraced the power of enterprise wide use of technology for ERM. In this panel, providers and users of risk management software will discuss the potential of technology as well as the barriers to implementation.
Ollie de Boer
Meltdown—Why Our Systems Fail and What We Can Do About It
Due to their incredible complexity, our modern systems—from health care to travel, finance to media—are primed for failure. And things are only getting worse. In his book Meltdown, András Tilcsik offers a timely remedy. Not only a convincing diagnosis of why complexity creates failure in systems, it's a practical guidebook to preventing the next disaster—before it strikes.
Reputation and its Impact on Risk Management
The role of intangible assets in company valuations continues to rise, and with it the critical role of reputation in risk management. Findings of 2018 ERM Benchmarking Survey show that a vast majority of respondents give high or very high priority to reputational risk pointing to a high degree of concern for protecting a firm's brand and reputation. Drawing on extensive international and company-specific reputation management databases, Stephen Hahn-Griffiths, Chief Reputation Officer of the Boston-based Reputation Institute will discuss some of the macro-trends highlighted in the Reputation Institute's most recent RepTrack survey and explain how these impact Canadian organizations.
Linking Risk Management and Compensation
The Financial Stability Board, established in the wake of the 2008 financial crisis, recommends that a sound risk culture should include mechanisms to subject senior management to incentive structures that may include impacts on compensation, role and responsibilities, or even termination. Yet, the Conference Board of Canada's 2018 ERM Benchmarking survey notes that even in the financial sector where this notion has gained more currency, the practice of linking risk management activities and compensation is not widespread and is practically non-existent in other sectors. Richard Leblanc will provide his views on why this linkage is essential to effective ERM programs and discuss the growing attention that board of directors across Canada are giving to this issue.
Closing Remarks from the Conference Chair
Hosted by: The Conference Board of Canada's Strategic Risk Council
Chief Reputation Officer
Author and Associate Professor of Strategic Management
University of Toronto Rotman School of Management
Director, Strategy, Risk and Performance
Chartered Professional Accountants of Canada
Director, Governance Integration
Risk Management Strategist, Risk Management Solutions,
RSA, a Dell Technologies
Take time in your busy schedule to spend a day with risk professionals who speak your language and understand your challenges:
Sheraton Centre Toronto Hotel
Sheraton Centre Toronto Hotel
123 Queen St W
Toronto ON M5H 2M9
Conference fees don't include accommodations. Please contact the hotel directly for reservations, and mention The Conference Board of Canada to receive the preferred rate of $354.00, available until Tuesday, February 5, 2019.
Cancellation 72 hours prior to arrival with no penalty.
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