[Audio] Welcome to the Operational Risk Committee for the FY2023 Q1. 

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[Audio] The work program is organized in two main section: the Aras of Focused, more specific, and the cross-cutting activities which include more overarching topics. 

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Risk Governance Risk Reporting Methodology and Framework

Systems & Data Mgmt. Risk Intelligence Stakeholder Engagement Training, Awareness, Communication and Branding CROOR Program Management

1. CROOR Integrated Work Program  FY23 - FY24

Business Continuity Operational Resilience Operational Risk Mgmt. Enterprise Risk Mgmt. & Corporate Risk Governance Corporate Insurance

[Audio] We have five areas of focus which can be considered pillars that are embedded in the Bank's risk management governance, reporting methodology, stakeholders and communication elements. 

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Methodology and Framework        Risk Governance         Risk Reporting

Training, Awareness, Communications and Branding

CO Engagements/ missions HQ Engagements & Fusion onboarding Fusion implementation completion GIA audit

Formalize ERM Framework Risk Appetite Framework Annual Risk Scan Integrated Risk Reporting

Resilience Task Force EMT and Crisis F/work revision Scenario planning and exercises Issues and actions analysis

Risk appetite & Tolerance ORM in Operations and for Key Locations Compliance Concentration risk (travel) Deep-dive risk reviews in priority areas Integrity Due Diligence Data incident response

Portfolio Optimization Evacuation Insurance Review coverages /policy renewals  Claims management Portal

[Audio] These are the main details of the Business Continuity Management Focus Area. 

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Focus Area – Business Continuity 				   Management

Team Lead(s)  Team 1 Crisis Management - CO TS/PF/JD All Delivery of 40 training of country offices (virtual/in person) Delivery of training to regional front office Enhancement to expand our engagements with CO 2 Crisis Management- HQ VPUs PF/TS All Delivery of HQ Crisis Management Training Continuing onboarding of units into Fusion Develop data analytics/dashboards 3 Fusion implementation JD All Complete fusion implementation Complete fusion activities related to the onboarding 4 EMT /Crisis management JD GG Update the EMT and formalize EMT 2.0 practices EMT training and exercises BCM Directive Update (post GIA advisory)  5 Overall program reporting GG All 6 Stakeholders Engagements JD   7 Scenario exercises GG All 8 GIA Engagement (GIA for FY23 audit) MS JDS

[Audio] Let's deep dive in the Operational Resilience Focus Area. 

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Team Lead(s) Team 1 Finalize TOR for the Operational Resilience Task Force PK JZD, PF Clarify the scope, roles and responsibilities and membership of the task force 2 Plan and conduct scenario exercises  MS PK, JZD, PF, KK, JP Establish and roll-out a structured approach to scenario planning Create "Community of practice" for conducting scenarios 3 Issues and actions analysis PK PF Create a central repository of key action items from actual incidents, near misses, exercises and other sources Establish and implement a structured process to analyze and report thematic risk issues to the ORC and various stakeholders 4 Enablers PK JZD, PF Explore technology solutions to support the program Benchmark with industry peers on resilience practices

[Audio] Here we introduce the main activities for the operational risk management focus area. 

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Focus Area – Operational Risk Management

Team Lead(s) Team 1 Cross-Cutting Risk Solutions Risk appetite and tolerance frameworks ZI RM, FP/PF Compliance review KK NK/SB Integrity Due Diligence PK NK Risk solutions (e.g. flight concentration, ESG)  PK/KK FP/All Data Incident Response JP FP/RM 2 Challenge and Advice First Line on Risk Management Security and Legal Risk Management Frameworks KK ZI Support VRM (Risk Reporting, Residual Risk Treatment) KK FP/JD Increase engagement with operations for ORM KK ZI, PF ORM for key non-HQ offices PK PF/NS 3 Operational Risk Assessments Risk assessments for DFI, DPO, LEG, HSD, ITS, SPACP KK/PK Liaisons Thematic Risk Assessments (Project ARIA, STC) PK FP/RPS Domain Level Risk assessments KK/PK Liaisons 4 Enhance ORM Methodology (Risk Taxonomy, Events Reporting)  PK RPS 5 Risk Intelligence and Data Warehouse Project PK CD/RPS 6 Operational risk capital adequacy for IBRD and IDA PK CD, RPS

[Audio] ERM and Corporate Risk governance include the following topics. 

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Focus Area – Enterprise Risk Management  		   & Corporate Risk Governance

Team Lead(s) Team 1 Develop vision and roadmap for ERM and formalize via framework NC ZI, RPS Benchmarking: conduct survey, 1-1s and implement actions NC RPS Develop and approve ERM Directive NC ZI ERM Roadmap NC ZI 2 Conduct Annual Risk Scan NC ZI,  RPS 3 Implement  Bwise  for ERM NC RPS 4 Explore integration of risk management into corporate processes NC ZI,  RPS 5 Finalize Risk Appetite framework and ensure consistency across risk categories  NC ZI  Define financial risk tolerances NC ZI 6 Support Risk Governance bodies (ERC, FRC) and MDCAO FO in their non-financial risk management oversight function NC RM, JD

[Audio] Corporate insurance is a key topic in the optic of the WBG risk transference strategy. 

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Team Lead(s) Team 1 Annual Insurance Renewals KG ZI, TA, CD Conduct risk assessments & risk quantification, identifying areas for optimization: coverage limits, deductibles KG ZI, TA, CD Review each line to ensure alignment with risk profile and Insurance Purchase Plan KG ZI, TA, CD Manage Marketing Renewal Campaigns and place insurance   KG ZI, TA 2 Due Diligence for  Evacuation insurance KG ZI, CD 3 Implementation of Claims software and Development of Claims Manual TA CD 4 Implement legal review of insurance policies ZI

[Audio] Thank you for your time. We now open the floor for the Q&A session.. 

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CROOR WORK PROGRAM 

FY23 – FY24

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Welcome to the Operational Risk Committee for the FY2023 Q1

avatar

The work program is organized in two main section

the Aras of Focused, more specific, and the cross-cutting activities which include more overarching topics

We have five areas of focus which can be considered pillars that are embedded in the Bank's risk management governance, reporting methodology, stakeholders and communication elements

Business Continuity Management Focus Area

These are the main details of the Business Continuity Management Focus Area

Let's deep dive in the Operational Resilience Focus Area

Here we introduce the main activities for the operational risk management focus area

ERM and Corporate Risk governance include the following topics

Corporate insurance is a key topic in the optic of the WBG risk transference strategy

We now open the floor for the Q&A session.

CROOR WORK PROGRAM FY23 – FY24