PRMIA meeting at AIF on Risk Appetite
26 May 2014
The PRMIA Netherlands Chapter meeting held at AIF on May 26 attracted around sixty Risk Managers interested in learning more about implementing a Risk Appetite Framework.
Implementation of a Risk Appetite Framework is a strategic project for any Financial Institution. This meeting considered the challenges in defining and implementing such a framework.
A Risk Appetite Statement expresses the maximum amount and type of risk that a company is prepared to accept in the execution of its strategy. The Risk Appetite Statement is therefore an important instrument to guide the operations of the company and - at the same time - it is an expression of the philosophy and identity of the company. Certain Risk Appetite Statements readily translate into meaningful capital allocation strategies and limit setting; other risk appetite statements require the more nuanced consideration of non-financial risks.
During the meeting, Risk Appetite was considered from four different perspectives. Remco Spigt (DNB) provided an overview of emerging best practices and supervisory expectations. Marius Messer (ABN Amro) described the specific experiences of embedding a Risk Appetite Framework within ABN AMRO. Alex Dowdalls (AXVECO) addressed the specific question of how non-financial risks are to be included, and Cor Jan Dasselaar (KAS BANK) provided a compliance perspective.
Cor Jan Dasselaar (KAS BANK) spoke about the compliance perspective
Speakers - Remco Spigt, Marius Messer and Alex Dowdalls
The meeting was followed by networking drinks