University of Applied Sciences in Hachenburg

Virtual conference: Eighth Supervisory Symposium Proper management of non-financial risks – a key factor in the success of financial services providers

In the wake of the financial crisis, the focus was initially on managing financial risks, as they had a direct impact on financial services providers. For some years now, attention has also been increasingly shifting towards non-financial risks, which include, in particular, strategic and operational risks as well as reputational and compliance risks.

The consistent management of non-financial risks offers financial services providers a number of opportunities, as it enables them to make decisions more transparently and comprehensibly and to tackle issues more efficiently.

How can a financial services provider effectively and sustainably protect itself against cyberattacks? How can a credible risk culture be established? How can data quality be improved in order to identify potential risks more effectively? And how can the potential economic damage of non-financial risks be assessed?

These questions are the focus of the Eighth Supervisory Symposium. In addition, there will be a break-out session on the coronavirus crisis. The discussion will serve as a starting point for further considerations on how to deal with systemic risks in order to identify and manage them in good time in the future.