PRZOOM - /newswire/ -
Jacksonville, FL, United States, 2011/08/15 - Scheduled for September 19-20 at the Omni Shoreham Hotel in Washington, D.C., FIS‟ Risk Oversight Summit will focus on the risk management provisions of the Dodd-Frank Act, which takes effect October 21 - FISglobal.com. NYSE: FIS
FIS™ (NYSE: FIS), the world‟s largest provider of banking and payments technology, today announced it is hosting the first-of-its-kind Risk Oversight Summit to assist financial institutions‟ boards of directors and executive management to better plan for the strategic impacts as a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act. This Act is the most comprehensive financial services reform legislation since the Great Depression and contains numerous game-changing provisions that require financial institutions to better manage risk.
Scheduled for September 19 − 20 at the Omni Shoreham Hotel in Washington, D.C., FIS‟ Risk Oversight Summit will focus on the risk management provisions of the Dodd-Frank Act, which takes effect Oct. 21. The provisions of the Act mandate that all financial institutions with assets greater than $10 billion implement a risk oversight committee at the board of directors‟ level to better manage risk. The Risk Committee, which must include at least one risk management expert with experience in identifying, assessing and managing risk exposures of large complex firms, will be responsible for enterprise-wide risk management oversight and practices. Other institutions are encouraged to implement such a committee as a best practice. The provisions also require financial institutions to enhance risk management in a variety of ways.
The innovative conference will feature some of the nation‟s notable banking and regulatory experts such as:
• Senator Chris Dodd, co-author of the Dodd-Frank Act;
• John Dugan, former comptroller of the currency, OCC;
• Bill Isaac, former chairman, FDIC; chairman of the Board, Fifth Third Bancorp and author of “Senseless Panic: How Washington Failed America”;
• Tom Brown, founder, Bankstocks.com; CEO, Second Curve Capital.
Key topics of the conference include:
• The pitfalls of risk management to avoid and how to formulate the ideal risk oversight committee;
• How to properly allocate roles and responsibilities between board, CEO and executive management to enhance the risk management program;
• How financial institutions are mitigating risk: case studies of how-to, how not-to properly manage risk;
• The industry-leading best practices that deliver optimal risk management performance;
• How to fully comply with the Dodd-Frank Act and Federal Reserve regulation.
For more, information or to register, visit compliancecoach.com/riskoversightsummit.
“We are delighted to host this innovative and timely conference for boards of directors, CEOs and executive management from financial institutions to come together and attain the critical know-how to successfully lead their organizations through the regulatory maze” said Kay Nichols, executive vice president, FIS. “We have assembled the „dream team‟ of banking and regulatory experts who will be speaking at the conference and will provide critical tips, strategies and best practices for success.”
FIS (fisglobal.com) is the world‟s largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 32,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. FIS is ranked 426 on the Fortune 500, is a member of Standard & Poor‟s 500® Index and consistently holds a leading ranking in the annual FinTech 100 list.
For More Information:
Mary Waggoner, SVP, FIS Investor Relations
P: 904.854.3282 / E: mary.waggoner[.]fisglobal.com