Overseeing Conduct Risk in the Lloyd's wholesale market

Date: Thursday 22nd January 2015 Time: 10.00am to 12.00 noon Location: 1, Cornhill, London EC3V 3ND Event Code: OC220115 Fee: £245 per person plus VAT = £294.00 A discount of 10% is available for 3 or more people from the same company. If you have 4 or more people talk to us about an in house event for your Board.

Your Consultant - Charlie Galloway Charlie specialises in governance and regulatory matters, particularly around corporate governance, board data analysis and MI. He works extensively in the Lloyd's market and is a highly respected governance and compliance specialist consultant. He brings an in depth knowledge of the regulatory environment and is up-to-date with recent developments from his work helping firms to prepare for visits, coaching Directors and carrying out remedial actions. His early career was with Sedgwick's followed by Jardine Lloyd Thompson where he was Head of Compliance.

A 2 hour briefing designed for Directors and Non Executive Directors who need to ensure that Lloyd's Conduct Risk Minimum Standards are met.

After much debate and consultation Lloyd’s issued the Minimum Standards for Conduct Risk in July 2014. Implementation should have taken place over the last 6 months, self assessment templates are due to be issued by Lloyd’s in November followed by a Lloyd’s review process. The Financial Conduct Authority will of course be taking an interest.

This workshop is specifically designed to ensure that Board members can state clearly what the conduct risks are for their firms, how the standards are being met and what data the Board sees to ensure they are met. 

Benefits

• You will be clear on your obligations as a Board member 
• Update your knowledge of the standards now in place
• Understand the key risk areas the standards address
• Identify and manage those risks
• Know what information the Board should see and at what level
• Recognise who is responsible for what in the supply chain
• Consider the questions the regulators may ask you
• Be clear about the penalties and reputational risk

The Agenda

1. Scope of Conduct risk in the wholesale insurance markets

• Why the FCA want to bring wholesale insurance into line
• The risks for wholesale brokers and managing agents
• Conduct risk is not “TCF MkII”: the implications for culture, strategy, and your business model
• Controlling the complex supply chain
• Crossing international boundaries

2. What does Lloyd’s expect?

•  Key element of the Conduct Risk Minimum Standards
• Challenging areas when applying the standards
• Product Management essentials
• Evidencing compliance

3. The accountability of the Board

• Expectations of Boards
• Creating a culture of fair dealing
• What good data looks like for direct and intermediated business

4. Getting it wrong – the consequences

• FCA and Lloyds plans for review of progress
• Questions you could be asked
• Possible consequences of assuming this is not relevant
  to your firm! 

To Book this event please call or email Jenny Spur on 0207 764 0721, jennyspurr@bpandeglobal.com or download the booking form.

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