NEXUM ORM MODEL: FROM THEORY TO PRACTICE part 2-The System(EN) Tomas Sinicki

NEXUM ORM MODEL: FROM THEORY TO PRACTICE part 2 (EN) Tomas Sinicki, Nexum IT Lithuania, 09.10.2008

Practical Operational Risk Management

WHY ORM MAKES SENSE?
- Basel II requirement
- 15% of gross profit is a price of ignoring it
- how large capital needed?
- a way to reduce capital requirements
CHALLENGES
- quantifying operational risks
- collecting appropriate data
- choosing a framework
- getting board involvement
DEADLINES
January, 2009 for banks
~2011 for insurance companies
NEXUM ORM ENSURES
lower capital set-asides
risk mitigation and high involvement
step-by-step implementation
high degree of outsourcing


AUDIENCE
CEO, CFO, Risk management


MANAGING RISKS ACROSS ENTERPRISE (EN)
Larisa Golicina, Ernst & Young Baltic, Senior consultant
NEXUM ORM MODEL: FROM THEORY TO PRACTICE (EN)
Tomas Sinicki, Nexum IT Lithuania, CEO

SPECIAL SPEAKER
Maris Krastins, SWEDBANK, the Head of Operational Risk Management Department – “ORM Experience”

Hotel Bergs, Berga Bazars

Elizabetes street 83/85, Riga
October 09, 2008
10:00-14:00

MORE INFORMATION
www.nexum.lv/orm.pdf info@nexum.lv +371 67609275

Nexum Insurance Technologiies
Product Manager: Mihails Galuska, +371 29137360, mihails.galuska@nexum.lv

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Education

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