ART of CROs

1 FINANCIAL SBILITY AT ION NEWSLETTER RISK MANAGEMENT ART of CROs by Michael Steel The first Annual Round Table of CROs was held in 2003 as a forum for Chief Risk Officers to gather to debate the practical challenges in the implementation of a risk framework and to discuss the emerging role of the CRO within the insurance industry. As the CRO community has developed since this time, it was adapted to sit alongside the CRO Assembly as an event to discuss the practical implications of risk management in a more intimate setting. At the event CRO’s and member of a CROs staff focus on the questions around “How does it work in practice?” and “What were the challenges faced in implementing the theory?” rather than on the macro-level topics discussed at the CRO Assembly. Topics such as the risk management through the financial crisis, risk management challenges in product development, measuring/managing risk culture and use of indexes to hedge natural catastrophe risks are among the varied topics that have been discussed over its 12-year history. Over the years the wall of regulator changes has dominated the CRO landscape so in 2016, as we cross the Solvency II implementation hurdle, the ART of CROs will focus on “Risk Management beyond Solvency II”, allowing us to get back to the roots of risk management and focus on the value-enhancement associated with good risk management practices. ANNOUNCEMENT of 2016 ART of CROs The 2016 ART of CROs meeting will be held in Copenhagen from 13 to 15 April 2016. Our host will be Annette Olesen, CRO at Nordea, and the title of this year’s conference is “Risk Management beyond Solvency II”. The aim of the conference is to discuss the benefits of risk management as a value creator within organisations and move forward from the experiences of the Solvency II implementation which has dominated our risk management landscape for the last few years. No. 56 December 2015 @TheGenevaAssoc HEALTH AND AGEING