| Dates | Location | Tuition |
|---|---|---|
| TBD | TBD | TBD |
This program consists of two non-consecutive sessions. Both sessions are required for completion.
If you have any immediate questions about the program content, please contact Mark Zmiewski, RMA Director of Enterprise Risk and Product Management at +1.215.446.4085.
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. Program Consultants are available to provide more information on course specifics and discuss how this program might meet your needs. Please contact them by e-mail or by telephone at +1 215.898.1776. Plan your stay.
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 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
- "The Complicated Lives of Today's Leaders: Why Being at the Top Is Harder Than Ever" (Knowledge@Wharton, August 18, 2010)
- "Financial Reform: What Will the Dodd-Frank Act Accomplish?" (Knowledge@Wharton, August 18, 2010)
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, Spain, Nigeria, Indonesia, 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.
RICHARD J. HERRING, PhD
The Wharton School
BRIAN BUSHEE, PhD
The Wharton School
TOM DONALDSON, PhD
Professor of Legal Studies and Business Ethics
The Wharton School
Tom Donaldson has written broadly in the area of business ethics, values, and leadership. His books include: Ethical Issues in Business, 8th Edition (Prentice-Hall Inc., 2007), with P. Werhane and Ethics in International Business (Oxford University Press, 1989).
GENE GUILL, PhD
Deutsche Bank
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.
WITOLD J. HENISZ
The Wharton School
Professor Henisz has served as a consultant for the World Bank, The Inter-American Development Bank, The Conference Board, and Eurasia Group. He previously worked for The International Monetary Fund. He is currently a principal in the political risk management consultancy PRIMA LLC.
WILLIAM LANG
Federal Reserve Bank of Philadelphia
KATHY PEARSON, PhD
Operations and Information Management Department
The Wharton School
TIL SCHUERMAN
Federal Reserve Bank of New York
NICHOLAS S. SOULELES, PhD
The Wharton School
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.
ROBERT STINE, PhD
The Wharton School
TOM WHITFORD
PNC
MIKE USEEM, PhD
Professor of Management
The Wharton School
Mike works with the World Economic Forum on several initiatives to identify ways of preventing, mitigating, and responding to significant enterprise risks. He serves with the WEF Global Council on Catastrophic Risks.
"I found the programme very challenging of accepted thinking and a good opportunity learn about a broad range of risk disciplines as well as developing a network of fellow risk professionals from across the world."
— Group Compliance and Regulatory Risk Director, Lloyds TSB (2010 Participant)"The program developed by Wharton and RMA offers its participants the best and most advanced thinking about risk management in today's volatile and fast-paced financial environment. The program provides both quantitative and non-quantitative risk managers with a foundational refresher in risk management fundamentals that they then put to use in highly interactive sessions with Wharton faculty and outside Risk Management professionals who bring a wealth of knowledge to the seminars. The learnings from this program were immediately applicable back at the office. I highly recommend this program to any risk manager who is looking to take their skill and knowledge up to state of the art thinking on this topic."
— Head of Portfolio Reporting and Analytics, Morgan Stanley (2010 Participant)
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."
