The CBB issued its revised module on operational risk management to further enhance risk management practices in the banking sector.
Audit, Tax and Advisory firm, KPMG in Bahrain, is hosting a seminar to discuss the Operational Risk Management Module published by the Central Bank of Bahrain (CBB) and its impact on the banking industry. The event is scheduled to take place on Tuesday, 25 February 2020, at the Downtown Rotana hotel in Manama.
In December 2019, the CBB issued its revised module on operational risk management to further enhance risk management practices in the banking sector, in line with global best practices namely the principles and guidance from Basel Committee on Banking Supervision.
The event aims to bring together the leaders of the banking and financial services sector to discuss the implementation of the new regulation. Mr. Khalid Hamad, CBB Executive Director - Banking Supervision will be the keynote speaker at the seminar whilst KPMG speakers comprise Steve Punch, Head of Financial Risk Management at KPMG United Arab Emirates and Benson Wakaba, Associate Director Advisory at KPMG Bahrain.
Delegates will have the opportunity to learn more about the recommended implementation approaches and best practices, in addition to expected key challenges. This is pertinent given CBB’s requirement for all banks to conduct and, submit their gap assessment results and corresponding action plans, for effective roll out of the new regulation.
Jeyapriya Partiban, Partner Advisory – KPMG Bahrain said “The changes in the revised module represent a positive move toward a more secure and efficient business environment. Whilst implementation of the regulation is mandatory, it presents a valuable opportunity for banks to review and prepare for potential risk, by upgrading their processes and infrastructure. Our event will be an ideal platform for bankers to obtain deeper insights on the new regulation as well as how to turn operational challenges into valuable business opportunities.”
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