Risk Management Courses, Preventing Absent Training

[Joseph Wilcox]

The US business environment as well as those of other countries have experienced over the years significant risk events with significant negative risk consequences. In recent times there have been a plethora of risk episodes in the corporate world.

Many of these episodes could have been avoided or modified if the entities experiencing the risk episode had in place sound risk management practices. This presentation starts with a review of a risk management thought framework that supports the effective risk management standards that an entity should maintain.

It then places this risk management framework in a real-world context by examining actual risk episodes that were experienced due to the absence of sound risk management practices. The absent practices will be discussed in detail in the review of each case. In addition, the roles of an entity's Risk Management and Compliance functions will be brought out in each review.

Risk management education is typically provided via textbooks and classroom presentations, but education in these forms remain pretty much as theory to the learner. However, the use of Risk Management case studies as an educational vehicle provides an immediate understanding of risk management practices in the real world and takes them from being theory to being practical management tools. In addition, the identification of the severe consequences that resulted from a risk event will reinforce the value of having sound risk management practices.

This presentation displays nine real-life case studies each of which will define the risk event experienced, the background to the event, the negative consequences the event generated, the underlying risk conditions and causes that lead to the event and the risk management preventives that were absent.

The case studies collectively will aid in understanding the need for appropriate risk management policies, procedures and practices as well as serve as a blueprint for the employment of an organization’s Risk Management and Compliance functions. Lastly, it will address the concept of risk metrics.

Participants will not only find the case studies to be highly educational, but also extremely interesting pieces of corporate history.

Speaker Profile

Robert Geary is the founder of Greenwich Risk Management Advisory Services “LLC” and services as the principal consultant on many of the firm’s consultancy mandates.

Robert has been a banking and finance industry professional for 49 years with 34 years serving in a variety of senior Treasury, financial markets, asset management and risk management roles at JP Morgan Chase & Co. During his career with JP Morgan Chase he served in the following positions: 

• Head of Chase Manhattan Bank’s euro and other offshore funding activities
• Chase’s first Asia/Pacific Area Treasury and Financial Markets Executive located in Hong Kong with responsibility for the treasury, currency trading/sales activities and securities portfolios of Chase’s branches in nine countries that included the major centers of Japan, Hong Kong and Singapore
• Western Hemisphere Area Treasury and Financial Markets Executive with similar responsibilities for Chase’s branches in South America, Canada, Panama and Puerto Rico
• National Sales Manager for Chase Securities
• Treasury and Financial Markets General Manager for Chase AMP Bank in Australia
• Risk Management and Treasury Executive for Chase’s Asset Management and Private Bank organizations
• Head of the risk management oversight function of Market, Credit and Operational Risk for Chase Asset Management
• Managing Director and Head of Fiduciary Risk Management for the Corporation

During Robert’s career he has served on the Board of Directors of Chase Manhattan Overseas Banking Corporation as well as having served on numerous senior committees that included Chase’s Portfolio and Investment Strategy Committee, Tax Committee, International Asset/Liability Management Committee, Chase Investment Policy Committee, and Capital Markets & FX Risk Management Committee.

Robert holds a BA degree in Economics from Pace University and did graduate studies in finance at New York University Graduate School of Business. He has held Series 7 & 24 registrations and currently retains a Series 65 registration.

He is a certified FINRA Arbitrator and is a member of the Executive Advisory Board of St. John’s University Department of Accounting and Taxation.

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