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Emerging Risk Task Force

Emerging Risk Task Force. Kickoff Meeting For Management Call Program June 6 th , 2007. Task Force Mission Statement.

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Emerging Risk Task Force

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  1. Emerging Risk Task Force Kickoff Meeting For Management Call Program June 6th, 2007

  2. Task Force Mission Statement • Create infrastructure/framework to identify, collect, measure, monitor and report the emerging risks (i.e., risks associated with business in transition) to RMC. Measure and monitor impact of these emerging risks identified for North America Enterprise-wide. Report the impact/actionable items to the RMC members.

  3. Purpose of Client Calls • Due to the current M&A activity around the Bank, new risks are emerging that aren’t typical in a Business As Usual environment. • In addition to the emerging risks, BU NA also is striving to have the “Best Performance Ever”. This includes meeting all of our goals. • The objectives for these calls are as follows: • Help management focus on the new and increasing risks; • Implement a process to show regulators that management is in control; • Provide a comprehensive report to RMC.

  4. Emerging Risks • Risk associated with business in transition and uncertainty. • Known Challenges • Client Retention • New Client Sales • Physical Assets Loss • Corporate Card Fraud • Strategic Business Reviews • Sabotage • Decreased Focus/Productivity

  5. Additional Emerging Risks • Decreased Focus on Controls • Reduced Focus on Global Standards • Insufficient Protection of Proprietary Data • Best Performance Ever • Hiring Limitations • Attrition • Shifting Attention of Key Suppliers • Target for Internet Attacks

  6. Emerging Risk Call Program • Who • RMC • RMC-1 • Select Line of Business Managers • Interviews to be Conducted by a Group Audit and Risk Professional (See Handout for Interview Assignments) • When • Beginning Immediately • At Least Monthly • More Frequently as Risk Indicates

  7. Emerging Risk Call Program (cont.) • How • Use Standard List of Questions Developed by Group Audit, Risk, Finance, Legal, Compliance, Security, and HR • Conduct Interviews in Teams with One Auditor and One Risk Professional • Consult Practice Directors for Meetings with RMC to Determine Inclusion • Report All Results Centrally to Sabrina Seminetta (Template to Be Provided) • For Issues Requiring Urgent Attention, Inform Your Practice Director and Tom McNally, Immediately • Interview Results Will Be Consolidated for RMC

  8. Interview Questions • See Handout of Interview Questions

  9. Questions?

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