ORM Maturity Model - What Does Good Look Like?

Instructor: Craig Spielmann
Product ID: 703768
  • Duration: 90 Min

recorded version

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Read Frequently Asked Questions

Regulators, executives, and boards have raised the bar for operational risk programs. There has been frustration from all key stakeholders with the perceived lack of value. It’s critical that there is a realistic expectation and picture of a truly mature program. It is in everyone’s interest to agree upon a true maturity level that is sustainable, attracts talent and is attainable in line with business direction.

Why Should You Attend:

Business management and regulators are, in general, dissatisfied with ORM’s performance; it has created obstacles for the profession and caused frequent management changes, budget cuts, talent shortfalls, and job dissatisfaction.

This webinar will focus on building confidence and branding of a strong operational risk program. It will cover the key aspects of realizing a favorable maturity model such as tone from the top, culture, compensation, training, external interactions and disclosure, key committees, policies, three lines of defense, policies, event management, key risk indicators, capital modeling and ORM technology. The course will also discuss the steps needed to transform ORM into being more business relevant and sought after by organizations.

Areas Covered in the Webinar:

  • Define the goals of an effective and efficient ORM program
  • Identify obstacles to success
  • Understand the potential value proposition to the organization
  • Board and senior management involvement in the process
  • Key stakeholder information flows - develop an effective information life cycle
  • Delineate roles and responsibilities of the ‘three lines of defense’
  • Maximize the organization’s return on investment
  • Discuss the potential impact on business profit and loss and regulatory capital
  • Critical metrics to know if you’re on the right path

Who Will Benefit:

  • Financial Officers
  • Risk Officers
  • Internal Auditors
  • Operational Risk Managers and Staff
  • Risk Management Professionals
  • Board Members
  • Risk and Audit Committee Chairs and Members
  • Chief Risk Officers
  • Heads of Market, Credit, and Operational Risk
  • Chief Compliance Officers
  • Chief Audit Officers
  • Actuaries
  • Treasurers
  • Auditors (External & Internal)
  • Bank Regulators and Examiners
  • Payroll Personnel

Instructor Profile:

Craig Spielmann is CEO and founder of RiskTao, LLC. He has over 30 years of operational risk management, business development, and technology and audit experience gained from working with the world’s top financial institutions (RBS, Citigroup, J.P. Morgan, Dean Witter, & Merrill Lynch). Mr. Spielmann manages RiskTao, LLC which specializes in risk training and advisory services.

Prior to this, Mr. Spielmann was RBS’s global head of operational risk systems and analytics. He was responsible for providing strategic direction and oversight of all RBS operational risk systems and headed up their ORM risk data aggregation initiative. In addition, Mr. Spielmann and his team developed a strong analytical engine (Aggregated Risk Intelligence Dashboard) and automated committee decks and critical reports. He also headed RBS’s operational risk management for North and South America, where he was responsible for driving compliance for the ORM Federal Reserve’s Cease & Desist Order, and 2nd line challenge over the divisions, and for managing regulatory relationships.

Mr. Spielmann designed and implemented major changes to RBS’s compensation program to align with the Federal Reserve’s compensation initiative and Dodd-Frank. He also implemented regional level scenario analysis on major industry exposures such as DDO, foreclosures practices, and a program for model risk management, etc. Additionally, he co-chaired the regional risk committee and was a member of the divisional new product approval committees, IT Risk Committee and ORM Capital and The Vendor Management Committee.

Topic Background:

The ORM Maturity Model attempts to be a road map to excellence and paints a vision of ORM practice maturity. The main goal should be to “keep businesses focused on achieving their goals in line with risk appetite.” This approach can transform ORM into a powerful and sought after force.

Most institutions have struggled with an attractive ORM vision which would encourage business buy-in. This has resulted in frequent questioning of ORM’s value proposition, which ORM has struggled to define. In addition, regulators have been challenged to set realistic and consistent guidance that can position ORM to be a valuable organizational entity.

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