Risks are starting to materialise in new and unexpected forms, therefore their impact on businesses, societies and individuals is becoming more threatening. With rising indebtedness, looming asset bubbles, climate change concerns, volatile energy prices and the imminent threat of terrorism and cyberattacks, Asia-Pacific has had its own share of challenges.

Risk management has always been a complex function for banks and financial institutions. Today the scope of regulatory compliance and risk management has become much broader, and the potential impact of non- compliance is significantly high. The risk function at BFSI sector is evolving from being a number-crunching function to a more dynamic business enabler, focusing on risk arising from complex products, diversified operations, diverse workforce, multiple channels and regulatory compliance at regional and global levels. The intent is being on a proactive risk management and mitigation, rather than event-based response.

Therefore "Operational Risk Management" has come in to force since 2001, when it was recognized as a distinct class of risk outside credit and market risk, by Basel III. Further, compliance regulations, like Basel III and SOX, mandate a focus on operational risks, forcing financial organizations to identify, measure, evaluate, control and manage this ubiquitous risk. This has led to an increased emphasis on the importance of having a sound operational risk management (ORM) practice in place, especially when dealing with internal capital assessment and allocation process. This makes ORM one of the most complex and fastest growing risk disciplines in financial institutions. Overall 58% of banks initiated the process of identification of operational risk, however, only 36% public sector banks and 20% of financial institutions have initiated the process of ORM.

The 3^rd Annual Operational Risk Management Asia Summit 2020 focuses on the BFSI sector to discuss the compliance, stay up-to-date on the risk & latest legal changes and technology. The summit will have keynotes sessions and discussions from leading industry stalwarts, breakout groups, continuing education, and plenty of networking opportunities.

• The future of operational risk
• Emerging risk dynamics & evolving regulations
• A strategic approach to strengthen your risk culture and to mitigate anti-money laundering and fraud for greater efficiency
• Building a sustainable multidiscipline risk program and Role of AI, Big Data, Machine Learning & DLT
• Reviewing the structure of the operational risk function including the ability to cope with emerging risk
• Operational stress testing scenario analysis - emerging best practices