evans - Blog - Global Risk Community2024-03-28T19:58:47Zhttps://globalriskcommunity.com/profiles/blogs/feed/tag/evansmarcus evans to Host the Innovation in Insurance Pricing Conference on May 23-24, 2018 in New Yorkhttps://globalriskcommunity.com/profiles/blogs/marcus-evans-to-host-the-innovation-in-insurance-pricing2018-03-13T19:39:26.000Z2018-03-13T19:39:26.000ZAmanda Pinkhttps://globalriskcommunity.com/members/AmandaPink<div><p><strong>marcus evans</strong> will host the <strong>Innovation in Insurance Pricing Conference on May 23-24, 2018 in New York.</strong> This conference will give insurance firms a critical insight and the practical expertise to innovate their pricing techniques within their personal lines. Delegates will understand how to enhance their data analytics and leverage big data to augment the quality and efficiency of current pricing strategies, in order to out price their competitors. You will develop your strategy to align insurance pricing innovations with regulatory requirements to ensure compliance for your firm.</p><p></p><p><strong>Learn From Key Practical Case Studies:</strong></p><ul><li><strong>Economical Insurance</strong>will maximize data quality to ensure accurate pricing</li><li><strong>Blue Cross and Blue Shield of Illinois</strong> will assess strategies to ensure the seamless integration of machine learning into your firm</li><li><strong>TD Insurance</strong> will optimize the calculation of the client level price to ensure your firm achieves the optimum profit margin</li><li><strong>Combined Insurance</strong> will evaluate the best method of developing customer friendly products at a competitive price</li><li><strong>AIG</strong> will integrate big data to accelerate the achievement of your business goals</li></ul><p> </p><p><strong>Key Speakers Include:</strong></p><ul><li>Daniel Blau, Head of Personal Lines Pricing, <strong>The Main Street America Group</strong></li><li>Imir Arifi, Head of Artificial Intelligence & Machine Learning, <strong>Blue Cross & Blue Shield of Illinois</strong></li><li>Larry Doyle, Global Personal Insurance Operations Executive, <strong>AIG</strong></li><li>Alex Faynberg, Senior Vice President, Chief Actuary, <strong>Combined Insurance</strong></li><li>Christopher Cooney, Vice President, Pricing, <strong>TD Insurance </strong></li></ul><p><strong> </strong></p><p>For more information, please visit: <a href="http://bit.ly/2Hv1Vqs">http://bit.ly/2Hv1Vqs</a> or you can contact Amanda Pink at apink@global-fmi.com.</p><p> </p><p><strong><em>marcus evans</em></strong> <em>conferences annually produce over 2,000 high quality events designed to provide key strategic business information, best practice and networking opportunities for senior industry decision-makers.</em></p><p><em> </em></p></div>Ensuring NERC Compliance is Managed Accordinglyhttps://globalriskcommunity.com/profiles/blogs/ensuring-nerc-compliance-is-managed-accordingly2015-06-12T14:41:42.000Z2015-06-12T14:41:42.000ZMonique Filardihttps://globalriskcommunity.com/members/MoniqueFilardi<div><p><i>Interview with marcus evans speaker, <b>John D. Rhea</b>, Compliance Officer and Attorney, OGE Energy Corporation<a href="{{#staticFileLink}}8028234058,original{{/staticFileLink}}"><img width="750" src="{{#staticFileLink}}8028234058,original{{/staticFileLink}}" class="align-right" height="230" alt="8028234058?profile=original" /></a></i></p><p></p><p>With the emergence of NERC’s new Risk Based Compliance Program come many unanswered questions and hesitations on how to move forward within a company’s structure. This recent launch has worried companies in utilities with security and workload concerns. Although the cons may weigh heavily, the Risk Based Compliance benefits companies with promoting a customizable audit.</p><p> </p><p><b>John Rhea</b>, Compliance Officer and Attorney, OGE Energy Corporation recently spoke with marcus evans about key topics to be discussed at their upcoming <b>Risk Based Compliance & Reliability Assurance for Utilities</b> conference on August 25-27, 2015 in Washington, DC.</p><p> </p><p><b>With NERC’s recent launch of the new risk based approach, what is your professional opinion on the customization from One Size Fits all to a Tailored fit to better align utilities with regulators?</b></p><p><b> </b></p><p><b>JR:</b> I am cautiously optimistic about NERC’s implementation of its Risk Based Methodology. The old proverb, “the proof is in the pudding” comes to mind when thinking about this because how the pudding tastes is the proof of how good it is. In other words, just like most everything in life it all comes down to execution. The two main tools NERC has for customizing the application of the risk based approach are the Inherent Risk Assessment (IRA) which is a review of risks posed by an individual registered entity to the reliability of the bulk power system and the Internal Controls Evaluation (ICE) which reviews a registered entity’s- internal controls associated with the risks applicable to that entity and for identifying, assessing and correcting noncompliance with NERC Reliability Standards and the effectiveness of such controls. Based on the outcome of its IRA and ICE a registered entity’s audit scope should be adjusted. Whether or not this actually results in a better alignment with our regulators is yet to be determined. As with our proverbial pudding, the application of IRA and ICE by the Regional Entities may leave an unpleasant taste with registered entity depending on what the chef sends out of the kitchen.</p><p> </p><p><b>In what ways has/will this recent launch affect your role as NERC Compliance Officer internally?</b></p><p><b> </b></p><p><b>JR:</b> We created a Compliance Monitoring Program designed to address the constantly changing regulatory environment in which we operate daily, so my responsibilities as Compliance Officer remain steady even as the regulations change. We have accomplished this by developing effective compliance governance policies and procedures to recognize the company’s evolving compliance obligations. We have created and implemented an accountability structure to ensure all regulatory obligations have an identified responsibility matrix and I am charged with enforcing that accountability. We also have a compliance assurance function reviewing processes and procedures as well as evidence of compliance to make sure the company has documentation to prove its compliance. Finally, we are leveraging our Compliance Management Tool to tie all of our internal controls together and store our documentation of compliance. As one of our company’s five Key Result Areas, compliance is baked into everything we do and I make sure it stays that way.</p><p> </p><p><b>How should companies address NERC compliance risk?</b></p><p><b> </b></p><p><b>JR:</b> Maintaining compliance with NERC standards and requirements is a major issue facing utilities. There are three things a company must do every day to mitigate its NERC compliance risk.</p><ul><li>Maintain awareness of regulatory exposure,</li><li>Develop and foster relationships with key people both inside the company and out,</li><li>Be prepared to take a stand when needed</li></ul><p>Although no one person can know the details of every NERC regulation, they can develop a set of tools to reduce the risk of missing something. Chief among those tools is developing relationships inside your company and within your industry. Maintaining relationships with subject matter experts in your company is the first step in the process. There must also be a healthy line of communication between subject matter experts. The next step is developing relationships with your regulators so that you can know how they view your company. Last but not least are your contemporaries in other companies in your industry. They are in the best position to know what you are going through. These colleagues can provide sage advice on dealing with your regulators, a heads-up for new issues they have encountered a safe place to explore ideas, and occasionally a shoulder to cry on.</p><p>The most important tool though is the willingness and ability to take a stand. You owe it to your company and yourself to hold the Company accountable to do the right thing for the right reason every day.</p><p> </p><p><b>You have spoken at a few marcus evans events before. What about this conference inspired you to speak?</b></p><p><b> </b></p><p><b>JR:</b> I have been a Marcus Evans speaker multiple times as well as a facilitator for this conference so it’s safe to say I believe in the value this conference brings. It provides an important opportunity for those subject to NERC regulation to get together and ask the questions they wouldn’t dare ask directly to an auditor. This event provides an opportunity for open sharing unavailable at NERC seminar. I encourage people from entities of all sizes to attend because I am confident everyone will find something that will make a difference for them this year.</p><p> </p><p> </p><p><b><i>John D. Rhea</i></b> <i>is the Compliance Officer at OGE Energy Corporation.</i> <i>Based in Oklahoma City, OGE Energy Corp. is the parent company of Oklahoma Gas & Electric (OG&E) which is an investor owned electric utility.</i> <i>Rhea is going on 15 years working for electric utilities as both an attorney and compliance leader. He has spent almost 8 years with OGE.</i></p><p><b> </b></p><p>This premier marcus evans <b>Risk Based Compliance and Reliability Assurance for Utilities</b> meeting provides a platform for utilities companies to enhance their GRC, CIP, and Reliability Compliance initiatives. For more information, please check out the <a href="http://www.marcusevans-conferences-northamerican.com/marcusevans-conferences-event-details.asp?EventID=22140&SectorID=3&utm_source=interviewJR&utm_medium=link&utm_campaign=22140_interviewJR_link#.VXb6wNJViko">conference website</a> or contact Monique Filardi, Marketing Coordinator, Media & PR, marcus evans at 312.540.6322 or <a href="mailto:moniquef@marcusevansch.com">moniquef@marcusevansch.com</a>.</p><p> </p><p><b>About marcus evans</b></p><p><i>Marcus evans conferences annually produce over 2,000 high quality events designed to provide key strategic business information, best practice and networking opportunities for senior industry decision-makers. Our global reach is utilized to attract over 30,000 speakers annually; ensuring niche focused subject matter presented directly by practitioners and a diversity of information to assist our clients in adopting best practice in all business disciplines.<br /></i></p></div>Discussing Risk Data Strategy: An Interview with Philip Chamberlainhttps://globalriskcommunity.com/profiles/blogs/discussing-risk-data-strategy-an-interview-with-philip2014-08-29T13:00:00.000Z2014-08-29T13:00:00.000ZAbby Wilsonhttps://globalriskcommunity.com/members/AbbyWilson<div><p align="left"><span style="font-family:arial, helvetica, sans-serif;" class="font-size-2">Risk data is an area that has been largely overlooked for many years. Today the situation is different and the area is facing increasing regulatory scrutiny, as Systemically Important Financial Institutions (SIFIs) rush to comply with the Basel 239 Principles for Effective Risk Data Aggregation and Risk Reporting. An enterprise’s success depends on its ability to analyze risk data efficiently and effectively, in ways that uncover both risks and opportunities. Being able to extract and escalate critical risk information is nearly impossible without a robust risk management framework supported by a strong technology infrastructure.</span></p><p><span style="font-family:arial, helvetica, sans-serif;" class="font-size-2"><a href="{{#staticFileLink}}8028229652,original{{/staticFileLink}}"><img width="750" class="align-left" src="{{#staticFileLink}}8028229652,original{{/staticFileLink}}" height="155" alt="8028229652?profile=original" /></a>Philip Chamberlain, Vice President, Risk Governance and Risk Appetite at the Prudential Insurance Company of America recently spoke with <strong>GFMI</strong> about key topics to be discussed at their upcoming <strong>Risk Data Aggregation, Governance and Reporting Conference</strong>, November 3-4, 2014 at the Double Tree by Hilton Metropolitan in New York City.</span></p><p><span style="font-family:arial, helvetica, sans-serif;" class="font-size-2">Why is risk data such a key issue for financial institutions now?</span></p><p><span style="font-family:arial, helvetica, sans-serif;" class="font-size-2"><strong>Philip Chamberlain</strong>:<font size="2" face="Calibri,Calibri"><font size="2" face="Calibri,Calibri">Relevant information about an institution’s exposure to loss, and about the product and financial markets around us, has always been critical to managing a financial institution. Two facts, however, focus the issue more sharply for us now. First, we are well into a data capture and storage revolution that raises the bar on what a financial institution can and should infer from its risk data resources. Some financial institutions will fully seize the opportunity; those who do not will find themselves operating at a big disadvantage going forward. Second, financial regulators have greatly expanded their requirements for analysis and reporting of risk data, as to volume, precision and timeliness. For the institutions subject to the higher-level requirements, required regulatory risk data is a critical challenge in itself, and a costly one.</font></font></span></p><p><span style="font-family:arial, helvetica, sans-serif;" class="font-size-2">What are the key challenges institutions are facing in creating a holistic view of risk data?</span></p><p><span style="font-family:arial, helvetica, sans-serif;" class="font-size-2"><strong>PC:</strong> <font size="2" face="Calibri,Calibri"><font size="2" face="Calibri,Calibri">Like computers and computer programs, much financial reporting amounts to processing facts by established rules, as may be seen in external financial reporting statements, regulatory report filings and income tax returns. Risk is different, at least for management use. Risk is analysis, and analysis needs to be consistent over the enterprise in order to have comparable facts in your risk equation. This is a challenge of common concepts, vocabulary and measurement, all of it difficult in a larger financial institution. Doing a thorough job of capturing material risk data is also costly, and must be done with consistent leadership over years, not months. Finally, there is the trap of aiming for regulatory compliance as the objective. Difficult as it may be, each institution needs to define a risk data environment that best meets its risk management needs—a superset beyond regulatory requirements.</font></font></span></p><p><span style="font-family:arial, helvetica, sans-serif;" class="font-size-2">What is the importance of standardizing terminology for risk data</span></p><p><span style="font-family:arial, helvetica, sans-serif;" class="font-size-2"><b><font size="2">PC:</font></b> <font size="2" face="Calibri,Calibri"><font size="2" face="Calibri,Calibri">High-quality risk analysis always depends on clear definitions, starting with terminology and extending to all risk data captured. If one has a problem involving apples, oranges and pomegranates, so to speak, it does no good to discuss the problem in terms of "fruit." Managerial (non-regulatory) definitions are the most challenging, and the most critical. With a diverse group of analysts and managers, an institution needs to insist on the clear focus of consistent terminology.</font></font></span></p><p><span style="font-family:arial, helvetica, sans-serif;" class="font-size-2">What do you think attendees will gain from attending this event?</span></p><p><span style="font-family:arial, helvetica, sans-serif;" class="font-size-2"><strong>PC:</strong> <font size="2" face="Calibri,Calibri"><font size="2" face="Calibri,Calibri"><font size="2" face="Calibri,Calibri">Attendees will benefit from the perspectives and priorities of professionals who have worked in organizing and reporting financial data on a grand scale. I have had the privilege of working alongside some of the other speakers, and can attest to their skills, experience and insight. The next best thing to acquiring experience personally is to borrow it from speakers and participants at programs like this one.</font></font></font></span></p><p><span style="font-family:arial, helvetica, sans-serif;" class="font-size-2">Philip Chamberlain will be leading the session "Normalizing Risk Data Terminology to Ensure an Enterprise-Wide Risk Data Strategy" on Monday, November 3, 2014 at the <strong>GMFI Risk Data Aggregation, Governance and Reporting Conference</strong>.</span></p><p><span style="font-family:arial, helvetica, sans-serif;" class="font-size-2">For more information regarding this conference, including pricing and registration, please contact</span></p><p><span style="font-family:arial, helvetica, sans-serif;" class="font-size-2"><b><font size="2">Abby Wilson</font></b><font size="2" face="Calibri,Calibri"><font size="2" face="Calibri,Calibri">, Media & PR Coordinator, at (312) 894-6313 or abbyw@global-fmi.com</font></font><font size="3" face="Calibri,Calibri"><font size="3" face="Calibri,Calibri">.</font></font></span></p><p><span style="font-family:arial, helvetica, sans-serif;" class="font-size-2">About Philip Chamberlain</span></p><p><span style="font-family:arial, helvetica, sans-serif;" class="font-size-2">Mr. Chamberlain is a Financial Risk Engineer focused on the issues of large financial institutions. He is currently Vice President, Risk Governance and Risk Appetite in Enterprise Risk Management at Prudential Insurance. Until 2010, he was a Managing Director in the Bank of New York Mellon's Risk Management Sector. Responsibilities included firm-wide Basel II implementation, functional leadership for BNY's Basel II credit implementation, stress testing, economic capital, economic credit portfolio model, return on credit risk and internal ratings models, risk data warehousing, and credit risk data generally. A graduate of Yale and New York Universities, Mr. Chamberlain's career with the Bank of New York reached back to 1973, with the last ten years focused on Basel II implementation.</span></p><p><span style="font-family:arial, helvetica, sans-serif;" class="font-size-2">About Global Financial Markets Intelligence</span></p><p><span style="font-family:arial, helvetica, sans-serif;" class="font-size-2">GFMI is a specialized provider of content-led conferences for the financial markets. Carefully researched with leading financial market experts, our focused quality events deliver key bottom-line value through targeted presentations, interactive discussions and high-level networking opportunities.</span></p></div>