NED MIG Event: Overseeing Risk Management from the Boardroom

Many management teams operate in what might seem a steady state environment or one of incremental change, with process and information reassuringly familiar.  However, in recent years – particularly since the financial crisis – Boards are increasingly having to deal with major disruptions and the growth of shareholder activism alongside greater public scrutiny.

Both in the financial services sector and more widely, effective board supervision of risk management has become a major dimension of corporate governance. Less than effective supervision has seen massive losses of shareholder value in banking, telecoms, automotive and energy sectors.

How can the board best discharge this heavy responsibility in the interests of all of its stakeholders? Even more importantly how can it balance risk oversight with growing the business?

There will be opportunity for comment and questions from the floor. Attendees should find this valuable in thinking about how they personally and the boards on which they serve can deal with key risks and avoid the losses of both treasure and reputation of which we read so regularly.

Speakers -  Subject matter (risk) experts:

Paul Taylor - Partner and UK Head of Cyber Security KPMG LLP (UK)

Paul has led the delivery of some of the most demanding national security programmes in the UK, operating at the very highest levels of government. He is uniquely qualified to understand the evolving threat environment, as well as having an exceptional track record of driving and delivering change in complex organisations. Paul’s contribution to the world of science technology was recognised by his election as a Fellow of the Royal Academy of Engineering in 2013.

Tom Teixeira - Manging Director at Alvarez and Marsal

Tom Teixeira is a Managing Director with Alvarez & Marsal in London. He joins A&M’s growing Risk Advisory Services practice, bringing nearly two decades of experience in elevating risk management maturity to drive business performance and reduce the Total Cost of Risk (TCOR) for large Global 1000 corporations.

His work spans a range of industry sectors including aerospace and defense, life sciences, metals and mining, and oil and gas.  Mr. Teixeira provides proven leadership and strategic advice to boards and senior executives on the implementation of risk governance and management strategies, as well as business resilience.

We are grateful to these experts for making themselves available. Each will speak for about 10 minutes, broadly on the challenges presented to boards by cyber risk and conduct/reputational risk respectively.

Practicing NEDs

Sally Bridgeland

Sally is well known in the UK pensions industry, for her thought-provoking views on risk, investment strategy and governance. She chairs the Local Pensions Partnership Investments Board and combines investment governance consultancy for Avida International with a number of complementary roles, including as a non-executive director and investment committee chairman at mutual insurance company Royal London and trustee at both NEST Corporation and the Lloyds Bank pension schemes. Sally also serves on the Trust Investment Committee of the innovation foundation, Nesta and is Senior Warden of the Worshipful Company of Actuaries. Sally was previously the CEO of BP Pension Trustees Limited. Before joining BP, Sally spent twenty years with Aon Hewitt as a pensions actuary and in the investment practice, where she led a number of research initiatives.

Christina McComb

Chris is a highly experienced venture capital and private equity investor, with a current portfolio of Board appointments spanning a range of sectors, including modern mutual OneFamily. She has a deep understanding of issues faced by growth companies in raising funding, accessing top quality human talent and developing successful business strategies. She has also been involved in various government roles to stimulate investment in the UK SME sector.

Seamus Creedon (Chair)

Seamus is a non-executive director at five insurers. He was a partner at KPMG where he led the UK actuarial practice from 2000 to 2003 and was the deputy leader globally. Previously he was Chief Executive of Bank of Ireland’s life assurance business and also at Abbey Life Ireland. He has been a member of the insurance stakeholder group of the European Insurance and Occupational Pension Authority and is a member of Irish and American actuarial bodies also. His directorships in Britain and Ireland embrace all of life, health and non-life insurance and reinsurance. He is an honorary Chartered Enterprise Risk Actuary.

Sam Tymms - Managing Director at Promontory Financial Group

Sam is currently a Managing Director at Promontory Financial Group, a leading strategy, risk management and regulatory compliance consulting firm, where she advises financial services businesses on a wide range of risk and regulatory matters.

Sam began her career at the London Stock Exchange’s Surveillance Division, which over time became the Securities and Futures Authority and eventually the Financial Services Authority. During that time, she held a range of supervisory roles and worked for two years in the Investigations and Enforcement Division. As a supervisor, she ran departments overseeing global investment firms, retail and investment banks and major insurance groups. Sam’s extensive experience in the regulatory field and her knowledge of compliance matters provide a valuable contribution to the board.

Sam is a Non-executive Director with IG Group.