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INSIGHT BLOG
IRM GRC SIG session on 16 January has Professor Mike Power talking about risk culture in financial organisations
You can now book your place for the next IRM GRC SIG Keep-in-Touch call on 16 January at http://bit.ly/1k7LoWx
Following on from the IRM GRC SIG’s own conclusions about the critical role of culture in influencing the effectiveness of a coordinated approach to governance, risk and compliance and IRM’s own recent risk culture thought leadership work, the SIG is privileged to have Professor Mike Power from LSE’s Centre for the Analysis of Risk and Regulation (CARR) with us for this session.
Professor Mike Power will lead a discussion on the topic of ‘risk culture in financial organisations’ drawing on the material in a report published in September 2013.
Key issues for consideration are:
– Risk culture: what is it and why does it matter?
– Understanding risk culture as a suite of trade-offs
– Risk culture and risk appetite: how do they relate to each other?
– Is risk culture really a regulatory culture?
http://www.lse.ac.uk/researchAndExpertise/units/CARR/home.aspx
Michael Power
Michael Power is Professor of Accounting and Director of the Centre for the Analysis of Risk and Regulation (CARR) at the London School of Economics. He was educated at St Edmund Hall, Oxford and at Girton College Cambridge; is a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW), an Associate member of the UK Chartered Institute of Taxation, and an honorary fellow of the Institute of Risk Management.
He has held visiting fellowships at the Institute for Advanced Study, Berlin and at All Souls College, Oxford. He is a non-executive Director of St James’s Place plc and St James’s Place International plc where he chairs the risk committees. He also has a number of advisory positions in public bodies and has given evidence to both the UK Treasury and the House of Lords Economic Affairs committees regarding the role of auditors in the banking sector.
Power has been awarded honorary doctorates from the University of St Gallen, Switzerland and the University of Uppsala, Sweden. His research and teaching focuses on regulation, accounting, auditing, internal control and risk management. His major work, The Audit Society: Rituals of Verification (Oxford 1999) has been translated into Italian, Japanese and French. Organized Uncertainty: Designing a World of Risk Management (Oxford 2007) has been translated into Japanese.
http://the-irm.org/t/FOL-21BBI-A99G7S-UECHT-1/c.aspx
You can book your place NOW using this link: http://bit.ly/1k7LoWx, either for a place in London at the IRM Offices or via our Audio/Weblink.
Dec 15 2013
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UPDATE: We had a great SIG session last week with very useful discussion and feedback … the presentation from Professor Mike Power from LSE’s Centre for the Analysis of Risk and Regulation (CARR) on “Risk Culture in Financial Organisations” was excellent and helped us debate where to focus our efforts over the coming months. One of the areas we will be researching in detail is how to demonstrate the value and associated opportunity costs from adopting a more coordinated, integrated and orchestrated approach to governance, risk and compliance. If you are interested in joining the SIG and being part of these discussions then let me know directly via email at robert_toogood@chaordicsolutions.com. In the meantime, you can download a copy of the presentation from last week’s session using this link: http://www.theirm.org/events/documents/GRCSIGpresentation160114.PDF