February 22, 2024

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Life after COVID-19 – Managing Risks and Staying Resilient

A Platform For Collaboration

OpenGov Asia is pleased to invite you to an exclusive OpenGovLive! Virtual Breakfast Insight aimed at imparting knowledge on on enterprise stress testing, managing systemic risks, becoming operationally resilient, and remaining compliant.

 

Implementing efficient Enterprise Stress testing to manage systemic risk, gaining strategic business advantage whilst remaining compliant

The outbreak of pandemic Covid-19 has impacted the financial structures of the whole world.

The spread of COVID-19 is expected to hit banks’ performance this year, but there is still hope that the industry will be resilient enough to face the challenges the pandemic is bringing to the economy.

Indonesia’s banking industry is well developed and resilient. Recently, Moody’s Investors Service has downgraded Indonesia’s banking industry outlook, along with 11 other countries in the Asia Pacific region, to negative from stable over concerns of rising credit costs and declining profitability as the pandemic is disrupting the global economy.

In this backdrop, Enterprise stress testing has become the de facto tool for managing systemic risk within the financial services industry. Today, not only is it the preferred supervisory tool across the world, but financial institutions are increasingly adopting stress-testing tools and techniques to better inform their business decisions.

For many finance organisations, scenario-based stress-testing exercises remain a huge burden because they are still executed using a fragmented, inefficient approach. Most organisations use data, methods, processes, and tools that are managed independently along with a product or organisational lines − and with limited central oversight.

Besides, the workflows they employ are often resource-intensive, laden with manual processes, and key person risks. But enterprise stress testing doesn’t need to be an organisational burden. What’s needed is a more sustainable approach that replaces time-consuming, resource-intensive processes with a powerful, efficient solution for both regulatory and internal stress-test requirements.

But, do the financial institutions have the tools to:

  •  Model out their P&L under a wide range of different economic and non-economic scenarios
  • Do they have sufficient information to know how financial stress testing can inform and support business strategy during the current crisis?
  • Do the financial institutions know why previous assumptions and traditional forecasting methods are insufficient to cope with the crisis?

 

Transforming a Regulatory Requirement Into Competitive Advantage

Financial institutions are in dire need of better-informed decisions at this time of crisis. This can be made possible through expanded scenario-based risk management.

Mandated regulatory stress testing requires a significant investment by financial institutions – in technology, skilled people, and time. But prudent financial institutions are looking for – and realising – a significant return on investment by reaching beyond simple compliance.

These organisations seek to elevate stress testing from a simple compliance exercise to a strategic tool for business advantage.

Financial institutions are seeking a timely understanding of the potential financial impacts, have increasingly turned to scenario analysis. But, to be meaningful, the process must:

  •  Scale to an increasingly possible scenario as the situation continues to develop
  •  Provide a controlled process to perform and summarise numerous iterations of analysis
  •  Offer understandable and explainable results in a timely fashion
  •  Provide process transparency and control for qualitative and quantitative assumptions.
  •  Maintain detailed data to support ad hoc reporting and concentration analysis.

 

Banks able to conduct rapid ad hoc analysis can respond more confidently and provide a data-driven basis for the actions they take as the crisis unfolds.

Operational Resilience is the key

Regulatory stress tests have taught banks the skills they need to manage through a well-defined scenario. Now leading banks are re-evaluating whether their stress test processes will be up to the task in a crisis.

The financial services industry is at the forefront of the response to the economic challenges brought about by COVID-19. It’s a tall order for banks and credit unions that involves serving as the lending conduit for government stimulus and providing loan forbearance to customers, members, and clients – while supporting their communities safely and soundly.

Financial institutions need easy access to agile, high-performance analytics to assess, monitor, and respond to dynamic business conditions. Rapid access to powerful risk analytics for managing liquidity, assessing policy changes, and proactively mitigating losses is what is required.

Exogenous Non-Financial shocks caused by pandemics/floods/wars invariably invalidate the use of empirically driven actuarial (‘atomic’) models aimed, primarily, at modelling the body of the distribution. Instead, the institutions are forced to revert to the use of structured scenario analysis to assess the range of potential Financial & Non-Financial (such as reputation) outcomes relating to these tail-risk events.

 

Who Should Attend

Meet Our Distinguished Speakers

Alfanendya Safudi, FRM, CFA
Senior Vice President Head of Credit Portfolio Risk
Bank Mandiri

Febrianto Siboro
Country Managing Director
SAS Indonesia

Gerard McDonnell
Regional Solution Director Fraud & Security Intelligence
SAS

Mohit Sagar
Group Managing Director and Editor-in-Chief
OpenGov Asia

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IN COLLABORATION WITH

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Networking

Make valuable connections and meet peers and mentors in your industry. Share ideas with others in your field, meet your future business partner, or seek advice from people who’ve done it all before.

Learning

We live in uncertain times for tech and business. We’re welcoming the people who are tackling the big challenges facing industry today. In our current climate, upskilling has never been more important.

Exposure

Get exposed to first-hand knowledge and intelligence from subject matter experts across Asia Pacific to accelerate growth and progress.

This is great event where all financial industry practitioners can gather and shares their ideas, opinion, concern about current risk situation and how can we cope with current risk and utilise it as competitive edge to compete in the future

Permata Bank

It is a great event to get insight on trends and what others are doingIt is a great event to get insight on trends and what others are doingIt is a great event to get insight on trends and what others are doing

PT Bank Central Asia Tbk

Good event and good for networking

KEB Hana Bank

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engage@opengovasia.azurewebsites.net

PARTNER

With over 40 years of analytics innovation, SAS® is a trusted analytics powerhouse for organizations seeking immediate value from their data.

As an Analytics leader, we’ve been applying analytics to the toughest business problems for decades. Infusing learning and automation throughout our solution portfolio, and providing mechanisms for digital guardianship, we’re empowering everyone to innovate with analytics – from business users and data scientists, to students and educators.

Our key solution offerings include Advanced Analytics, Data Management, Governance, Customer Intelligence, Risk Management, Fraud, Financial Crime Compliance & Security intelligence, AI & Machine Learning, IoT and Analytics Platform.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.