Auditing Financial Institutions - MIS Training
Auditing Financial Institutions - MIS Training Auditing Financial Institutions - MIS Training
Auditing Financial Institutions Day Two Wednesday 16th May 2007 * To be Confirmed Day Two Agenda 08.30 Registration & Coffee 09.00 Chairman’s Opening Remarks 09.10 CASE STUDY Buy Control Culture Get Good Internal Controls for Free • What is the control culture? • How is it different to the control environment, control framework? • How can it be harnessed? • How can internal audit use it as its main tool? Iraj Amiri, Head of Group Internal Audit, Schroders Iraj Amiri is a Partner of the London Internal Audit Group of Deloitte and one of the firms recognised experts in Internal Audit and Risk Management. For the past five years he has been on secondment with Schroders as Head of their Global Group Internal Audit. He has held leadership positions in Internal Audit Departments in a variety of financial sector and other institutions. He also specialises in, and has carried out quality reviews of numerous major internal audit departments around the world, many in the financial institutions. He is a regular speaker at major internal audit conferences around the world on topics related to Internal Audit, Internal Control, Governance, and Risk Management. Iraj has been a member of the Internal Audit Committee of the Institute of Chartered Accountants in England and Wales for a number of years. 09.50 CASE STUDY Integration of Assurance & Risk Management across the Organisation • The benefits of an integrated risk management approach • Practical steps to integration • Stakeholders • Skills • Development of a risk assessment framework • Technology required • Integrated reporting • Operational tasks • Assessing the effectiveness of risk management Clive Novis, Head of IT Audit, Investec Plc Clive graduated from the University of Cape Town, South Africa with an Information Systems Honours degree. After university, he worked for a ‘big 4’ auditing company in their risk management division, performing IT audits and consulting on various forms of IT risk. Clive then joined an international outsourcing and professional services company where he consulted on IT and project risk management. His industry experience includes healthcare, manufacturing, retail, utilities and financial services. After heading up the IT Internal Audit function at Investec plc, Clive was appointed IT Risk Manager for the Group. 10.20 CASE STUDY The New Role of Internal Audit Function in Managing Operational Risk • Internal audit as a key source of challenge for operational risk management • What should your internal audit function do and what shouldn’t it • The independence review of the internal audit function • Preparing the audit programme Luc Aerts, Program Manager, Internal Audit, KBC Luc Aerts is Program Manager in the Internal Audit Department of KBC Group, a leading Bankassurance Group in Belgium and Europe. Since 2004 he is responsible for the Quality Assurance & Improvement Program covering all KBC internal audit departments (about 300 auditors in 20 countries). This group-wide Quality Assurance & Improvement program was created after an external assessment in 2003 of the Internal Audit Departments of KBC Head Office and of the major subsidiaries in Central Europe. Before taking on this function, he was 6 years chief auditor Financial Markets, responsible for the coverage of all financial markets activities in KBC Group 11.00 Morning Coffee 11.20 CASE STUDY Project Risk Review • Introducing Project Risk Review • Project risks • Selecting projects to be reviewed • Planning, executing, reporting • Closing reviews Ben Amado, Program Director of Audit & Risk Review (ARR), Citigroup* Ben Amado is a Program Director in Citigroup’s Audit and Risk Review (ARR) with responsibility for Technology and Project audits of Citigroup’s Corporate and Investment Banking arm in EMEA. Ben has extensive software development, project management, information security, and auditing experience that he gained in various roles in financial services firms in the city such as NatWest Bank, Dresdner Kleinwort Wasserstein and NCR. 12.00 PANEL SESSION Governance & Risk Management in the 21st Century - How Can Audit Keep Up To Speed with New Market Risks, Models & Practices? How can audit keep up with redefined games and credit risk models of the market? How are you integrating and embedding risk management practices, with personal accountability and an understanding of the financial impact of operational risks on capital management? Hear expert commentary from these audit practitioners. • Integrating risk management for audit: credit, market, operational, nonfinancial risks • Is independence compromised by integration of risk management & assurance providers? • Developing key risk indicators & key control indicators in line with business needs • Challenges of non-financial risks - corporate social responsibility, reputational risk • External assessment quality reviews - update on compliance realities with IIA Standards Iraj Amiri, Head of Group Internal Audit, Schroders Clive Novis, Head of IT Audit, Investec Plc Luc Aerts, Program Manager, Internal Audit, KBC Ben Amado, Program Director of Audit & Risk Review (ARR), Citigroup 12.40 Lunch 13.45 The Hidden Risk of End User Computing • What is the extent of the EUC problem? • How do we discover the risks caused by EUC? • How can we control the seemingly uncontrollable and help our organisations minimise their EUC risk? Roger Cooper FIIA, MIIA, QiCA, RJC Limited Roger has over 30 years of audit experience within both the Public and Private Sectors. Having started his audit career in the Inland Revenue, he moved into the Private Sector in 1988 as Chief Internal Auditor of the Guardian Building Society. The challenge of computer auditing caught his imagination in 1990 and he has specialised in that area ever since. Roger has worked as a Senior Manager with the Lloyds TSB Group where he provided the advice and guidance that ensured that End User Computing across the Group’s various divisions and business units was compliant with Sarbanes Oxley legislation. He also made a significant contribution to the Group’s approach to SOX related Business Application and General Computer Controls in addition to co-authoring the Group’s End User Computing policy, standards and guidelines 14.25 CASE STUDY Auditing Challenges: Outsourcing, JVs, Procurement Christopher Spackman, Head of Audit 3rd Parties, Barclays Internal Audit* 15.10 Establishing Effective Internal Controls to Comply with AAF 01/06 & how to Avoid Disclosure of Weaknesses Issued by the Institute of Chartered Accountants England & Wales Audit, the Assurance Faculty (AAF 01/06) will replace the FRAG 21 report, for periods ending on or after 31 March 2007. This provides guidance to reporting accountants on undertaking an assurance engagement & providing a report in relation to internal controls of a service organisation. AAF 01/06 does not constitute an auditing standard, but has great impact for auditing investments. Hear exactly how to apply the guidance, as directors of all 3rd party service organisations, including pension administrators, could have their internal controls investigated in response. • Testing the design & effectiveness of your controls • Linking internal controls to your risk management framework • Demonstrating accountability & transparency of controls • Preparing for the new AAF 01/06 assurance report & internal controls code of practice • Evaluating & documenting the effectiveness of your internal controls • What legal assistance should you seek? • How to avoid disclosing to market Bernard Kenny, Deloitte 15.50 Afternoon Tea 16.10 CASE STUDY Mitigating Operational Risk Through Merchant Fraud Prevention In The Banking Industry - A BNZ Acquiring Perspective A case study illustrating merchant liability & how the Bank of New Zealand mitigates its risk through global risk policy. • Bank of New Zealand’s fraud education strategy for high risk merchants: analysing current fraud hotspots, high risk countries & scams • Minimising non-lending losses through robust prevention methods. • Steps to minimise credit card fraud • Merchant requirements for securing stored data – payment card industry data security standard John Crookes, Operational Risk & Compliance Manager, Domestic & International Payments, Bank of New Zealand 16.50 Do You Know if Your Organisation Is Living up to its Ethical Values? • Compliance, culture and values • Making ethical decisions • Recent survey findings • Developing ethical assurance in your own organisation Paul Moxey, Head of Corporate Governance & Risk Management, ACCA Paul Moxey is Head of Corporate Governance and Risk Management at ACCA contributing to developments and thinking at committees, events and projects on corporate governance and risk around the world. He is a qualified accountant and MBA. Formerly a company secretary and group financial controller of a UK plc, before joining ACCA, he was corporate governance consultant. 17.30 Chairman’s Closing Remarks and Close of Conference To Register Call +44 (0) 20 779 8944, Fax +44 (0) 20 7779 8293, Email: mis@mistieurope.com or Visit www.mistieurope.com/bankaudit
presents Auditing Financial Institutions Conference 2007 14th – 16th May 2007, Hilton Docklands, London Delivering Business Agility & Risk Assurance in Banking, Insurance & Investment Management To keep you fully up to date with the latest audit tools and technology in the fast world of finance, MIS Training EMEA presents this new focused conference for Audit Directors and Managers in the banking, financial services and insurance sectors. In just two intensive days you will learn cutting-edge strategies from industry leaders on how to monitor risk, control and governance processes across your organisation. Highlights from the agenda include: • Your complete regulatory round-up: ensure you are fully up to speed with the implications for internal audit of Basel II, MiFID, Sarbanes Oxley and IFRS • Case study experiences of how leading companies approach risk management and control • In-depth analysis of how to overcome the challenges of auditing outsourced operations: find out what steps you should take to measure and monitor security and reputation risks • Expert insights on how to ensure you understand and meet the expectations of your audit committee • Join the compliance debate: how does internal audit have to change to adapt to the new regulatory environment? Plus, benefit from targeted tracks for the banking, insurance and investment management sectors, helping you delve deep into focused topics. Supporting Associations Governance ‘Governance’ is the leading international monthly newsletter on corporate governance, shareholder activism, and boardroom performance. At this time of rapid change in the regulatory and best practice regimes, ‘Governance’ is an essential and authoritative resource of analysis and opinion for board directors, senior executives, investment professionals and advisers. Governance Publishing, Watchfield House, Watchfield, Highbridge, Somerset, TA9 4RD Tel: 01278 793300, Fax: 01278 783750, e-mail: info@governance.co.uk, web:www.governance.co.uk ISACA Netherlands ISACA has become a pace-setting global organisation for information governance, control, security & audit professionals. Its IS auditing & IS control standards are followed by practitioners worldwide. Its research pinpoints professional issues challenging its constituents. Its Certified Information Systems Auditor (CISA) certification is recognised globally & has been earned by more than 48,000 professionals since inception. The Certified Information Security Manager (CISM) certification uniquely targets the information security management audience & has been earned by more than 6,000 professionals. It publishes a leading technical journal in the information control field, the Information Systems Control Journal. It hosts a series of international conferences focusing on both technical & managerial topics pertinent to the IS assurance, control, security & IT governance professions. Together, ISACA & its affiliated IT Governance Institute lead the information technology control community & serve its practitioners by providing the elements needed by IT professionals in an ever-changing worldwide environment. Members live & work in more than 140 countries & cover a variety of professional IT-related positions. ISACA has more than 170 chapters established in over 60 countries worldwide, & those chapters provide members education, resource sharing, advocacy, professional networking & a host of other benefits on a local level. ORRF The Operational Risk Research Forum (ORRF) Limited is internationally recognised as a leading risk advisory organisation. It was established, with tacit support from the FSA, in April 1999, as an independent think-tank; its aim being to drive forward the boundaries of knowledge in the field of risk management. ORRF has held leading-edge forum events in collaboration with the FSA, the Bank of England, BaFin, the OCC, and the New York State Banking Department, as well as with professional bodies such as the British Bankers Association, ISDA, Institute of Actuaries, the Securities & Investment Institute, and many others. Research by ORRF has won international acclaim. Through its association with the British Library it gives access to one of the largest collections of risk information in the world. ORRF now provides a range of advisory services and products in the field of risk management including leading edge research, consultancy, executive resourcing and systems. To discover more, visit www.orrf.org Media Partners AuditNet AuditNet® is the premier Web portal for integrating the Internet into auditing. The site contains resources, tools and links including audit work programs, questionnaires, checklists, audit guides, audit topical index, job listings and much more. www.auditnet.org Compliance Monitor Compliance Monitor filters through the mass of releases from the FSA and provides condensed highlights along with authoritative analysis and practical advice for implementation. 10 issues per year PLUS online access with a fully searchable 7-year archive. For a FREE sample copy visit www.informafinance.com/cm or email justine.boucher@informa.com Compliance Reporter Compliance Reporter is the only news-breaking source that exclusively covers compliance initiatives at broker/dealers and investment advisers, as well as regulations and enforcement actions from entities such as the National Association of Securities Dealers, the Securities and Exchange Commission, the U.S. Court of Appeals and state regulatory agencies. Compliance Reporter informs its readers of enforcement actions that are levied against their competitors. Knowing what the firm down the street was fined for may help you change your strategy and avoid a similar penalty. It also keeps you up on other firms’ strategies, giving you tips on what your peers are doing to stay on the cutting edge. For your free trial go to www.compliancereporter.com/freetrial Fraud Intelligence Fraud Intelligence is written by practitioners for practitioners and brings you expert guidance and practical solutions in combating fraud to your business. 10 issues per year PLUS online access with a fully searchable 7-year archive. For your FREE sample copy visit www.informafinance.com/fi or email justine.boucher@informa.com with your full details. Fraud Watch Fraud Watch covers all aspects of financial fraud, including regulatory changes, card fraud and money laundering. Subscribers get access to the www.fraudwatchonline.com site for daily online news and features. It is the essential early warning system for financial industry professionals. To subscribe call +44 (0)1572 820088 or email subscriptions@cm-media.net Professional Security Professional Security Magazine is the market leader in the U.K. and is backed by the resources of a strong editorial and production team. With its roots firmly based within the industry that it serves, Professional Security Magazine offers an online service for the security professional to access news, views and information on the move, at home or abroad. www.professionalsecurity.co.uk Security Park Security Park.net is the leading online News portal for the Security industry, with over 250,000 readers every month. Security Park publishes industry & product News on a daily basis, across the complete range of Security products & services: access control, biometrics, alarm systems, CCTV, computer / IT / network security, mobile security, manned guarding, perimeter protection, physical security, remote monitoring & surveillance. Security Park also publishes Security case studies, white papers & market reports, & provides a free job forum & classifieds service to security professionals. www.Security Park.co.uk Risk UK The UK’s premier monthly security and business continuity publication. The magazine addresses all aspects of risk that are faced by today’s business community, assisting those responsible for the security, safety and risk management of the UK’s largest companies. Areas covered by Risk UK are diverse, ranging from countering potential terrorist threats, through to preventing crime against the business and those within it, detecting espionage attempts, fire prevention, health and safety, business continuity, disaster recovery, data protection, insurance, eliminating breaches in legislation, avoiding litigation, etc. www.risk-uk.co.uk
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- Page 3: Auditing Financial Institutions Day
presents<br />
<strong>Auditing</strong> <strong>Financial</strong> <strong>Institutions</strong> Conference 2007<br />
14th – 16th May 2007, Hilton Docklands, London<br />
Delivering Business Agility & Risk Assurance in Banking, Insurance & Investment Management<br />
To keep you fully up to date with the latest audit tools and technology in the fast world of finance, <strong>MIS</strong> <strong>Training</strong> EMEA presents<br />
this new focused conference for Audit Directors and Managers in the banking, financial services and insurance sectors. In just two<br />
intensive days you will learn cutting-edge strategies from industry leaders on how to monitor risk, control and governance<br />
processes across your organisation.<br />
Highlights from the agenda include:<br />
• Your complete regulatory round-up: ensure you are fully up to speed with the implications for internal audit<br />
of Basel II, MiFID, Sarbanes Oxley and IFRS<br />
• Case study experiences of how leading companies approach risk management and control<br />
• In-depth analysis of how to overcome the challenges of auditing outsourced operations: find out what steps you should<br />
take to measure and monitor security and reputation risks<br />
• Expert insights on how to ensure you understand and meet the expectations of your audit committee<br />
• Join the compliance debate: how does internal audit have to change to adapt to the new regulatory environment?<br />
Plus, benefit from targeted tracks for the banking, insurance and investment management sectors, helping you delve deep into focused topics.<br />
Supporting Associations<br />
Governance<br />
‘Governance’ is the leading international monthly newsletter on corporate governance, shareholder activism, and boardroom performance. At this time of rapid<br />
change in the regulatory and best practice regimes, ‘Governance’ is an essential and authoritative resource of analysis and opinion for board directors, senior<br />
executives, investment professionals and advisers. Governance Publishing, Watchfield House, Watchfield, Highbridge, Somerset, TA9 4RD<br />
Tel: 01278 793300, Fax: 01278 783750, e-mail: info@governance.co.uk, web:www.governance.co.uk<br />
ISACA Netherlands<br />
ISACA has become a pace-setting global organisation for information governance, control, security & audit professionals. Its IS auditing & IS control standards are<br />
followed by practitioners worldwide. Its research pinpoints professional issues challenging its constituents. Its Certified Information Systems Auditor (CISA)<br />
certification is recognised globally & has been earned by more than 48,000 professionals since inception. The Certified Information Security Manager (CISM)<br />
certification uniquely targets the information security management audience & has been earned by more than 6,000 professionals. It publishes a leading technical<br />
journal in the information control field, the Information Systems Control Journal. It hosts a series of international conferences focusing on both technical<br />
& managerial topics pertinent to the IS assurance, control, security & IT governance professions. Together, ISACA & its affiliated IT Governance Institute lead the<br />
information technology control community & serve its practitioners by providing the elements needed by IT professionals in an ever-changing worldwide<br />
environment. Members live & work in more than 140 countries & cover a variety of professional IT-related positions. ISACA has more than 170 chapters<br />
established in over 60 countries worldwide, & those chapters provide members education, resource sharing, advocacy, professional networking & a host of other<br />
benefits on a local level.<br />
ORRF<br />
The Operational Risk Research Forum (ORRF) Limited is internationally recognised as a leading risk advisory organisation. It was established, with tacit support<br />
from the FSA, in April 1999, as an independent think-tank; its aim being to drive forward the boundaries of knowledge in the field of risk management.<br />
ORRF has held leading-edge forum events in collaboration with the FSA, the Bank of England, BaFin, the OCC, and the New York State Banking Department,<br />
as well as with professional bodies such as the British Bankers Association, ISDA, Institute of Actuaries, the Securities & Investment Institute, and many others.<br />
Research by ORRF has won international acclaim. Through its association with the British Library it gives access to one of the largest collections of risk<br />
information in the world. ORRF now provides a range of advisory services and products in the field of risk management including leading edge research,<br />
consultancy, executive resourcing and systems. To discover more, visit www.orrf.org<br />
Media Partners<br />
AuditNet<br />
AuditNet® is the premier Web portal for integrating the Internet into auditing. The site contains resources, tools and links including audit work programs,<br />
questionnaires, checklists, audit guides, audit topical index, job listings and much more. www.auditnet.org<br />
Compliance Monitor<br />
Compliance Monitor filters through the mass of releases from the FSA and provides condensed highlights along with authoritative analysis and practical advice for<br />
implementation. 10 issues per year PLUS online access with a fully searchable 7-year archive. For a FREE sample copy visit www.informafinance.com/cm or<br />
email justine.boucher@informa.com<br />
Compliance Reporter<br />
Compliance Reporter is the only news-breaking source that exclusively covers compliance initiatives at broker/dealers and investment advisers, as well as<br />
regulations and enforcement actions from entities such as the National Association of Securities Dealers, the Securities and Exchange Commission, the U.S. Court<br />
of Appeals and state regulatory agencies. Compliance Reporter informs its readers of enforcement actions that are levied against their competitors. Knowing what<br />
the firm down the street was fined for may help you change your strategy and avoid a similar penalty. It also keeps you up on other firms’ strategies, giving you<br />
tips on what your peers are doing to stay on the cutting edge. For your free trial go to www.compliancereporter.com/freetrial<br />
Fraud Intelligence<br />
Fraud Intelligence is written by practitioners for practitioners and brings you expert guidance and practical solutions in combating fraud to your business.<br />
10 issues per year PLUS online access with a fully searchable 7-year archive. For your FREE sample copy visit www.informafinance.com/fi or email<br />
justine.boucher@informa.com with your full details.<br />
Fraud Watch<br />
Fraud Watch covers all aspects of financial fraud, including regulatory changes, card fraud and money laundering. Subscribers get access to the<br />
www.fraudwatchonline.com site for daily online news and features. It is the essential early warning system for financial industry professionals. To subscribe call<br />
+44 (0)1572 820088 or email subscriptions@cm-media.net<br />
Professional Security<br />
Professional Security Magazine is the market leader in the U.K. and is backed by the resources of a strong editorial and production team. With its roots firmly<br />
based within the industry that it serves, Professional Security Magazine offers an online service for the security professional to access news, views and<br />
information on the move, at home or abroad. www.professionalsecurity.co.uk<br />
Security Park<br />
Security Park.net is the leading online News portal for the Security industry, with over 250,000 readers every month. Security Park publishes industry & product<br />
News on a daily basis, across the complete range of Security products & services: access control, biometrics, alarm systems, CCTV, computer / IT / network<br />
security, mobile security, manned guarding, perimeter protection, physical security, remote monitoring & surveillance. Security Park also publishes Security case<br />
studies, white papers & market reports, & provides a free job forum & classifieds service to security professionals. www.Security Park.co.uk<br />
Risk UK<br />
The UK’s premier monthly security and business continuity publication. The magazine addresses all aspects of risk that are faced by today’s business community,<br />
assisting those responsible for the security, safety and risk management of the UK’s largest companies.<br />
Areas covered by Risk UK are diverse, ranging from countering potential terrorist threats, through to preventing crime against the business and those within it,<br />
detecting espionage attempts, fire prevention, health and safety, business continuity, disaster recovery, data protection, insurance, eliminating breaches in<br />
legislation, avoiding litigation, etc. www.risk-uk.co.uk
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