SINGAPORE – A senior operational risk expert from the US Federal Reserve will deliver a keynote address on how Basel II implementation and other regulatory initiatives in the US will affect the operational risk landscape in Asia, at the OpRisk Asia conference in Singapore on June 3 and 4.
Adrienne Haden, assistant director of operational and IT risk, and special activities, banking supervision and regulation at the Federal Reserve Board, serves on the Basel Committee’s Accord Implementation Group – Operational Risk (AIG-OR). Within the Fed, she co-ordinates the implementation of financial institution supervisory policy related to operational, information technology, information security, business resiliency, payment systems, outsourcing, fraud, internal controls, audit, insurance, and fiduciary risks.
OpRisk Asia 2008, hosted by OpRisk & Compliance magazine, has a broad range of regulatory speakers on the programme from around the region. Tsuyoshi Oyama, deputy director-general in the financial systems and bank examination department of the Bank of Japan, will speak on “Operational risk management using external data in Japan”. The talk will include the importance of external data for op risk management, and the challenges in using external data or pooling data.
Presenting the opening keynote address on the second day of the event is Tony Chew, director in the technology risk supervision department of the Monetary Authority of Singapore (MAS). Chew will be discussing the authority’s supervisory directions on technology risk management and the IT security lessons that are emerging from the Société Générale trading scandal.
Chew’s responsibilities include the development of strategies, programmes, standards and guidelines for the purpose of regulating and supervising financial institutions in respect of technology risk management requirements and information security processes at the MAS, but he is also an adjunct associate professor at the National University of Singapore, where he has developed and taught a course on cyber crime.