RMA/Wharton Advanced Risk Management Program

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Dates Location Tuition
Jan 23, 2011 - Jan 30, 2011 Philadelphia $27,000
Mar 27, 2011 - Apr 3, 2011 Philadelphia

This program consists of two non-consecutive sessions. Both sessions are required for completion.

If you have any immediate questions about the program, please contact Tamela Vieira at vieirat@wharton.upenn.edu.

As companies face uncertainty in the current market, the impetus is on senior executives to make risk a high priority. In fact, recent studies show that boards are asking senior executives to increase their involvement in risk oversight.* The Wharton Advanced Risk Management Program answers this “call to arms,” providing executives in banking and related fields with analytical frameworks, strategies, and resources for measuring, managing, and monitoring risk.

*”Liquidity, Crime Woes Shake Up Chief Risk Officers,” CFO.com, June 5, 2009

For more information on the Risk Management Association, please contact Mark Zmiewski, Director, Strategic Learning and Research, at +1 215.446.4085.

Tuition for Philadelphia programs includes lodging and meals. Prices are subject to change. Course Consultants are available to provide more information on course specifics and discuss how this program might meet your needs. Please contact them at +1.215.898.1776 or by e-mail.


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Through interactive sessions, panel discussions, and workshops, participants will broaden their understanding of risk management and learn to apply their knowledge to real business situations. Curriculum focuses primarily on the following areas:

I. Risk management as a strategic competitive strength:

  • Macroeconomic drivers of risk
  • Distinctive features of regulated financial intermediaries and how the regulatory environment is evolving with the crisis
  • The connection between corporate finance and managerial decision making and risk management
  • Study of systemic risk and the unique challenges of being a financial intermediary in today’s interconnected world

II. The analytical framework for measuring, managing, and monitoring risk:

  • Methods and issues in measuring risk exposure
  • Modeling challenges and practices
  • Scenario-based strategic planning
  • Unique risk characteristics presented by derivatives, securitizations, and real estate assets
  • Economic capital

III. The enterprise perspective including culture, governance, and relationships with stakeholders:

  • Peripheral vision and critical decision making
  • Defining risk appetites
  • Communicating risk profile to both internal and external stakeholders
  • Tension between economic capital and regulatory capital
  • Enterprise risk management

Related Risk Management Articles

Knowledge@Wharton

Advanced Risk Management participants have several years of risk management experience in banking and related fields. This includes Chief Risk Officers, business-line and enterprise-wide risk managers, and other individuals in search of a deeper understanding of risk management.

The Advanced Risk Management Program attracts qualified candidates from around the world, including those from Australia, Canada, Ireland, Indonesia, India, England, Germany, South Africa, the Netherlands, and the United States.

Advanced Risk Management Program is highly interactive and addresses real-world challenges. Participants leave the program with:

  • A network of experienced risk professionals across a wide spectrum of institutions and geographic locations.
  • An opportunity to utilize tools around modeling analysis, critical thinking, scenario planning, and receive feedback from faculty and peers.
  • An opportunity to apply knowledge to current issues facing their individual organizations.

undefined RICHARD J. HERRING, PhD
Academic Director
Jacob Safra Professor of International Banking
The Wharton School

Richard Herring is a leading expert on international banking and finance. A consultant to banks around the world — including the U.S. Federal Reserve Board and the International Monetary Fund — he specializes in issues of risk and stability in banking, including real estate bubbles, credit risk, bank failures, liquidity shocks, and banking regulation. He is a winner of Wharton's David Hauck Award for Outstanding Teaching and a three-time winner of the Undergraduate Division Excellence in Teaching Award.
undefined FRANCIS X. DIEBOLD, PhD
W.P. Carey Professor of Economics
Professor of Finance and Statistics
Co-Director, Wharton Financial Institutions Center
The Wharton School

Francis X. Diebold is W.P. Carey Professor of Economics, and Professor of Finance and Statistics, at the Wharton School and Faculty Research Associate at the National Bureau of Economic Research in Cambridge, MA. Diebold works in econometrics, forecasting, finance, and macroeconomics. He has published extensively and has served on the editorial boards of numerous journals, including Econometrica and Review of Economics and Statistics. He is an elected Fellow of the Econometric Society and the American Statistical Association and the recipient of Sloan, Guggenheim, and Humboldt awards. A prize-winning teacher and popular lecturer, Diebold has also held visiting appointments in Economics and Finance at Princeton University, the University of Chicago, Cambridge University, Johns Hopkins University, and New York University. From 1986-1989 he served as an economist under Paul Volcker and Alan Greenspan at the Board of Governors of the Federal Reserve System in Washington, DC. He received his BS from the Wharton School in 1981 and his PhD in 1986, also from the University of Pennsylvania.
Thomas Donaldson, PhD TOM DONALDSON, PhD
Mark O. Winkelman Professor
Professor of Legal Studies and Business Ethics
The Wharton School

Thomas Donaldson is the Mark O. Winkelman Professor at the Wharton School of the University of Pennsylvania. He has written broadly in the area of business ethics, values, and leadership. His books include: Ties that Bind: A Social Contract Approach to Business Ethics (Harvard University Business School Press, 1999), with T. Dunfee; Ethical Issues in Business, 8th Edition (Prentice-Hall Inc., 2007), with P. Werhane; and Ethics in International Business (Oxford University Press, 1989). His book, Ties that Bind, was the winner of the 2005 SIM Academy of Management Best Book Award.

He was Chairman of the Social Issues in Management Division of the Academy of Management (2007-2008) and a founding member and past president of the Society for Business Ethics. He was Associate Editor of the Academy of Management Review from 2002-2007, and is currently a member of the editorial boards of many journals. At Wharton he has received many teaching awards, including the Outstanding Teacher of the Year award in both 2005 and 1998 and the Excellence in Teaching Award for 2007, 2006, 2005, 2002, 2001, 2000, 1999, and 1998.

He has consulted and lectured at many organizations, including the Business Roundtable, Goldman Sachs, Walt Disney, the United Nations, Microsoft, The Tata Group, Exelon, Motorola, AT&T, JP Morgan, Johnson & Johnson, KPMG, Los Alamos National Laboratory, ConocoPhillips, Shell, IBM, Western Mining-Australia, Pfizer, the AMA, the IMF, Bankers Trust, and the World Bank. He served from 2004-2009 as an appointed member of the National Adjudicatory Council of the Financial Industry Regulatory Authority (FINRA, formerly the NASD). He was named the most influential "thought leader" in Ethisphere Magazine's 2007 ranking of the 100 Most Influential People in Business Ethics. In 2009 he won the Aspen Institute's Pioneer Award for lifetime achievement.
Gene Guill GENE GUILL, PhD
Managing Director
Deutsche Bank

Dr. Guill is a managing director in the Loan Exposure Management Group of Deutsche Bank. Based in New York, Dr. Guill is responsible for the valuation and risk management models and practices deployed in managing Deutsche Bank's international large corporate and European mid-cap loan portfolios.

Dr. Guill is a member of the board of directors of BELL: Building Educated Leaders for Life (2007 to present), a member of the editorial board of the Journal of Applied Finance (2007 to present), and a charter member of Risk Who's Who. He has served as chairman (2002-05), vice-chairman (2001-02), and member of the board of directors (2001-06) of the International Association of Credit Portfolio Managers.
undefined KATHY PEARSON, PhD
Adjunct Associate Professor,
Operations and Information Management Department
The Wharton School

Kathy Pearson, PhD, serves as an adjunct associate professor in the Operations and Information Management Department at the Wharton School. She has taught operations management courses in the MBA program and Executive Master’s of Technology Management program as well as probability and statistics, simulation modeling, and other courses for the department and the University of Pennsylvania. In addition, Dr. Pearson is a senior consultant and director, Executive Education, for Decision Strategies International (DSI), a management consulting firm focused on scenario-based strategic planning and decision making. She specializes in subject areas such as critical thinking, scenario planning, strategic decision making, project management, and stakeholder analysis. Dr. Pearson has also worked with executives from a wide variety of industries and has taught at CEDEP at INSEAD in Fountainebleau, France.
undefined TIL SCHUERMAN
Research Officer, Banking Studies
Federal Reserve Bank of New York

Til Schuermann is a research officer in the Banking Studies Function at the Federal Reserve Bank of New York. His research focuses on risk measurement and management in financial institutions and capital markets. He is also a Sloan Research Fellow at the Wharton Financial Institution Center and an associate editor for the Journal of Risk. Prior to joining the New York Fed, he was a director and head of research at the management consulting firm Oliver, Wyman & Company. From 1993 to 1996, he was at Bell Laboratories.
undefined NICHOLAS S. SOULELES, PhD
Associate Professor of Finance
The Wharton School

Dr. Nicholas S. Souleles, Associate Professor of Finance, received his PhD in Economics from the Massachusetts Institute of Technology in 1995. Since that time, he has been on the Wharton faculty. His research focuses on macroeconomics and consumer finances, namely households’ spending, saving/borrowing, and portfolio decisions. He was the lead profile in the 2006 BusinessWeek rankings of collegiate business programs.

He has been a frequent contributor to the finance and economic literature in journals including the Quarterly Journal of Economics, the Journal of Money, Credit, and Banking, the Review of Financial Studies, and the American Economic Review.

He is a faculty research fellow of the National Bureau of Economic Research and a visiting scholar at the Federal Reserve Bank of Philadelphia and has been an academic consultant to the Federal Reserve Board of Governors. He organizes the Finance Department’s Annual Rodney L. White Conference on Household Financial Decision-Making and Asset Holdings.
CHARLES TAYLOR
Director
Risk Management Association

Charles Taylor has been director, Operational Risk, at the Risk Management Association in Philadelphia since January 2003, where he oversees development of the operational risk management program.

Until 2002, Mr. Taylor was managing director, Strategy Development, at the Depository Trust & Clearing Corporation in New York, where he was a member of the senior management team. Before that, he was head of the global risk management practice at Andersen Consulting, where he led marketing, knowledge-sharing, and product development and worked with US and international clients. As executive director of the Group of Thirty in the first half of the 1990s, he authored several studies, spoke widely, and advised government and industry on issues of public policy and private practice.

Mr. Taylor started his career at the World Bank in 1973. He has degrees from Oxford and Cambridge in England in economics and mathematics and from the University of Pennsylvania in Philadelphia in business. He has published widely. He is married with three children and lives in Washington DC.
Mike Useem, PhD MIKE USEEM, PhD
The William and Jacalyn Egan Professor
Professor of Management
The Wharton School

Mike Useem offers courses on management, leadership, and corporate governance to MBA and senior executive audiences in the United States, Asia, Europe, and Latin America. He has worked extensively on leadership development and governance with many organizations in the private, public, and nonprofit sectors. He is the author of The Go Point: When It's Time to Decide; Leading Up: How to Lead Your Boss So You Both Win; The Leadership Moment: Nine True Stories of Triumph and Disaster and Their Lessons for Us All; Investor Capitalism: How Money Managers Are Changing the Face of Corporate America; and Executive Defense: Shareholder Power and Corporate Reorganization. From the slopes of Mount Everest to the battlefields of Gettysburg, Dr. Useem has gone to great lengths to present leadership lessons to executives.

PNC makes a solid investment

Tom Whitford, executive vice president and chief administrative officer at PNC, recognizes a good investment when he sees one. With the cost of executive search fees reaching upwards of $300,000, effective retention tools represent a solid investment strategy. And Whitford believes one of his most powerful tools for retaining top performers is to send them to the RMA/Wharton Advanced Risk Management Program. In fact, he’s already sent six of his executives to the program.

"This program gives me a tremendous development and retention tool," Whitford says. "By sending our executives through the program, we’re making a commitment to our employees about their personal and professional development." Whitford feels that the program delivers impressive ROI in terms of building depth and experience on his team.

“We have realized significant savings by staffing senior positions from within the company,” Whitford continues. The three executives who attended the program have all had their responsibilities expanded and are well positioned for more senior roles at PNC. "It is a world-class program that balances the quantitative with the qualitative, the theoretical with the practical."

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