Compliance Round Table – 26th July 2006
The first in a series of 6 round tables organised by QUMAS in London.
Visitors from ABN AMRO, Alpha Bank, Barclays Bank and Capital, Brewin Dolphin, Calyon, Commerzbank, Commonwealth Bank, First State, Fortis, Great Lakes, HBOS, Investec, Legal & General, Lloyds TSB, Mizuho, Morley, New Start, Schroder, Swiss Re, Wachovia and WestLB joined QUMAS at The London Capital Club in the City and commented:
"Best peer group meeting I've attended, very relevant" – Stuart Latto, Head of Compliance, Fortis Private Investment Management
"A really good event, will definitely come to the next one" – Andrew Sheppard, Senior Compliance Manager, Commonwealth Bank
"Very useful insight and good/unusual to have open debate and opinions from a wide range of disciplines" – Clare May, Investec Bank (UK) Ltd
Bringing Compliance Departments into the World of Risk Management. An opportunity for all concerned,or a curse to be avoided?
- Will the Head of Risk Management be the Head of Compliance in future?
- Will Compliance departments have to report and manage their work like other risk management functions?
- What are the implications for Compliance department organisation and process?
Other topics being covered in the round table series are:
- MiFID – 5 key practical considerations for banks and brokers – 27th September 2006
- Basel II for compliance officers – what impact does it have on you?
- Responding to regulatory consultation and framing new policy is a process, not just an art – upstream risk management?
Review
A full review of the evening can be downloaded now.
Round Table Summary (.pdf)
On Wednesday 26th July 2006 QUMAS ran the first in its series of Compliance round tables, giving senior compliance professionals the forum to hear two industry spokespeople present both sides of a debate on how Compliance and Risk are coming together, and to express their opinions amongst peers "around the table".
The evening went according to the agenda, starting with Cocktails & Canapes in the London Capital Club at 5pm and a prompt start at 5.30. Kevin Ludwick introduced the evening's programme and the first of the 2 speakers; Lindsay Thomas.
Lindsay put his side of the debate to the audience: The regulatory challenge to the industry: it's all about senior management identifying and controlling risk from a regulatory standpoint. Who is going to help them achieve it?
Lindsay Thomas's presentation may be downloaded now.
In response, Michael Blane presented his opinion: The unique challenges to compliance in identifying and managing those risks.
Michael Blane's presentation may be downloaded now.
At half past 6, when both sides of the debate had been presented, the round table discussion offered an opportunity to raise questions about themes highlighted in the earlier presentations. The debate proved to be so captivating that attendees carried on well beyond the scheduled timeframe.