The Governance of Mistakes: An Essential Board Competence in a Turbulent World
ATTENDEES:
CAdm’s Chairmen, CEOs, Executive and Non-Executive Directors, Members of Fiscal Boards, Members of Audit Committees and other Bank’s Core Functional Directors
PROGRAM
DAY 1: Thursday, January 30th |
|
| 09:00-09:30 | Welcome Coffee |
| 09:30-11:00 | Introduction and Welcome – Error Management for Boards |
| What is Error Management?: Key Concepts, Motivation and Taxonomy | |
| 11:00–11:15 | Coffee Break |
| 11:15–13:00 | Framing Error Management Using Two Cases: Fortis and Societe Generale |
| 13:00–14:15 | Lunch |
| 14:15–15:30 | Case Study: Silicon Valey Bank. Error Management Perspective. |
| 15:30–16:00 | Coffee Break |
| 16:00–17:00 | Final Discussion: Error Management for Boards: Insights and Conclusions reflecting on yours, your Board´s and your organization´s own errors? |
DAY 2: Friday, January, 31th |
|
| 09:00–09:30 | Welcome Coffee |
| 09:30–11:00 | What is Corporate Governance Culture? The importance of the Tone at the Top. |
| 11:00–11:15 | Coffee Break |
| 11:15–13:00 | How does Error Management Relate to Corporate Governance Culture? |
| 13:00–14:15 | Lunch |
| 14:15–15:30 | How does IA affect SEM and Board Governance? |
| Working Session: Major Lessons for you and your Board of Directors. Develop Action Plans in Groups | |
| 15:30–15:45 | Coffee Break |
| Sharing Insights, Lessons and Action Plans. Final Plenery Discussion | |
| 16:45–17:00 | Concluding Remarks by IFB CEO António Neto da Silva |
METHODOLOGY
The first day is dedicated to exploring the topic, defining what it consists of, how it is relevant to organizations and their managers, and the taxonomy it uses. Cases will be used and examined from the SEM angle, notably the downfall of FORTIS and the Kerviel rogue trader affair at SOCGEN. We discuss what their respective boards might have done, given that both crises have their roots in errors of a strategic nature for FORTIS and of a more operational nature for SOCGEN.
The second day will be devoted to discussing more recent examples, all having occurred after the Global Financial Crisis. These include the Wells Fargo cross selling disaster, the downfall of SVB in California, and the collapse of Crédit Suisse.
As a summing-up, participants will be invited to discuss and evaluate their corporate strategies on SEM in subgroups and share their insights with the all group.
PROFESSORS
Peter Nathanial
Is an IMD Executive in Residence and co-founder and co-Director of IMD’s Bank Governance Program. A Former Group Chief Risk Officer and member of the Executive Committee of The Royal Bank of Scotland Group, he is a Former Global Head of Risk Oversight at Citigroup.
Ludo Van der Heyden
Became a Distinguished Scholar at IMD in September 2022. He supports IMD’s developmental activities and programs in the banking sector, including the Bank Governance program. Ludo is the founding Academic Director of INSEAD’s Corporate Governance Centre (ICGC) and was co-Dean of INSEAD (1990-1995).