Tackling Risk, Compliance and Reporting Challenges

In the aftermath of the crisis, regulators around the globe have introduced many new measures and have been demanding more details and frequent reporting from the financial institutions. Notably, there is a fundamental shift regarding the reporting requirements and regulators are looking at a much bigger picture and at times go beyond their traditional jurisdictions in accessing the financial health of the institutions.

Financial Institutions with high volume of business across a wide range of financial products spread across different countries will face a lot of challenges as they have a number of onerous regulatory reporting requirements to meet. They have to keep reports up to date with regulators’ requirements at all times to ensure the firm’s compliance with country-specific regulators. Additional challenges include auditing, reconciling and ensuring the consistency of the overall information reported. This all means that firms must have an effective and efficient system to be able to respond to these requests in a timely manner.

Our keynote speaker, Mr. Frederic Lau, will examine how the lessons learnt from the financial crisis have changed the approach of senior management on Risk Management and Compliance with particular focus on the importance of managing the strategic risk. Mr. Lau will outline how they affect the organization (People, Policies, Process and Technology). He will also look at how institutions can benefit from the capability to acquire a wider scope of information through the improved systems and processes.

In the practical area, our guest speaker, Mr. David Hatt, Performance Management Solutions Manager of IBM will look at the growing use of technology in information gathering, processing and how it offers greater efficiency and improved accuracy in reporting. Mr. Hatt will also share with the audience on how financial institutions in the US and Europe use XBRL, a messaging protocol recently made mandatory by the Ministry of Finance of China, to streamline the reporting process.
Speakers


Frederic Lau
Director
Dah Sing Banking Group

Frederic Lau is a Director of Dah Sing Banking Group and a member of the Board of Trustees of GARP. Until January 2011, he was Executive Director of Dah Sing Bank and Dah Sing Banking Group, which he joined in 2004, after two decades as a bank regulator and central banker in the United States and Hong Kong.

He joined the Hong Kong Monetary Authority in 1994 to build and lead the central bank's derivatives team. In 1999 he was appointed Head of Banking Policy Division. He was Chief Representative of the HKMA's New York Office from 2000 to 2002, before returning to Hong Kong as a division head of the Banking Supervision Department of the HKMA, supervising foreign and local banks.

Prior to joining the HKMA, Lau was a senior examiner at the Office of Thrift Supervision, in the United States. Before that, he was with Mitsubishi Bank of California.

His book 'Derivatives in Plain Words,' published by the HKMA in 1997, has been translated into other languages. Lau has a Ph.D. in Economics from the University of South Australia. He is also a Chartered Financial Analyst.
   


David Hatt
Asia Pacific Solutions Manager
Financial Performance Management
IBM Cognos Business Analytics Software

David has 20 years experience in Financial Management and Strategy roles split evenly between Corporate Finance in large public companies and the software solution space. David’s current role includes running the Performance Management operation strategy for Asia Pacific, Product Management for the Cognos Information Application and Performance Management Solutions, best practices and customer success, and industry expertise. He also manages a small team of PM SWAT experts across Asia Pacific for best practices and customer success.

David’s specific areas of expertise include Financial Management, Planning, Forecasting, Strategic Planning and Strategy, Financial Analysis, Statutory and Management Reporting, Statutory Accounting, ERP integration, Activity Based Management/Costing, Allocations, Profitability, Pricing, Project Management, Asset Management, Cashflow, Remuneration and Incentives. His experience covers dozens of industries, including large and small corporations and all tiers of government.

David has a certificate in Operational Risk Management with strong Operational and Credit Risk experience, primarily with Banking customers.

Based out of Sydney Australia, David regularly travels Asia-Pacific and advises hundreds of organizations across the region.
 
 
For enquiries, please contact Barbara Law of Plus Concepts at [email protected] or tel (852) 8203 6091.