CCRO Meeting, Thursday November 21, 2024
Oliver Wyman Offices
Paseo de la Castellana 216 Pl. 13, Madrid, 28046, Spain
Meeting Room: Oceana
Thurs November 21st -Arrivals begin 8:30 for coffee +Meet &Greets
Member’s Gather at meeting venue…COFFEE AND TEA WILL BE AVAILABLE STARTING AT 8:30…
https://us02web.zoom.us/j/2813822538?omn=81926544236
9:15 to 9:45 CET
Kickoff: Welcome, Introductions, and Anti-trust
Meet the CCRO members and our guests as we go around the room. Paul will get us
started again with the anti-trust statement…
I’m excited to introduce some new members and welcome guests to the meeting!
We’ll be asking each attendee to raise their top three risk topics, they could be current
CCRO initiative topics or new topics. We’ll tabulate them all to insure we all get to
address the most relevant issues for the attendees… for a review of the twelve topics the
CCRO is currently addressing, check out this pdf…
Bob Anderson
Executive Director
at CCRO
CCRO Board Member
Paul Turner [Remote]
Partner
at Womble Bond
Dickinson
CCRO Board Member
Topic Discussion Hosts
9:45 to 10:30 CET
Trade Support Function Governance and Performance
Our survey results bring direction to our discussion
The best practices we advanced in our original “Governance and Controls” [2002] white
paper touted clear independence of front, middle, and back offices, as well as an
independent risk function. Recently, CCRO members have suggested that given significant
advancements in CTRM technology and the transaction complexities of today's changed
markets, such traditional principles for governance over a trading business may need to be
revisited.
Workstream 1: Establishing Governance and Optimal Functional
Effectiveness
Our recent discussions are exploring more on optimum assignment of duties rather than
sharp organizational lines.
Could a more supportive relationship between the F/M/B offices and the risk function bring
opportunities for performance improvement while maintaining effective governance?
We plan to evaluate non-traditional organizational structures found in some member
organizations today. The goal is to advance the effectiveness of critical trade support
functions while still maintaining effective governance over risk.
• We will be advancing the development of a clear framework to enumerate the critical
duties of the support functions and their optimum assignment to appropriate staff
Workstream 2: Managing Back Office Performance and Risk
This workstream seeks to develop:
• Industry peer KPI data benchmarking in order to support our members in their effort
to implement internal change for management of the risk of poor performance in
these support functions
• A data/technology process best practices for calculating, monitoring, and reporting
these metrics on an on-going basis
For more information see the group’s web page here…
https://www.ccro.org/tradesupportbestpractices
David Johnson
Chief Risk Officer
American Sugar Refining
Project Lead
Eugen Luja
Chief Risk Officer
At Repsol
CCRO Board Member
Sid Jacobson
Former CRO at Cleco
Members Emeritus
Project Lead
Oliver Wyman Offices
Paseo de la Castellana 216 Pl. 13, Madrid, 28046, Spain
Meeting Room: Oceana
Thurs November 21st -Arrivals begin 8:30 for coffee +Meet &Greets
Member’s Gather at meeting venue…COFFEE AND TEA WILL BE AVAILABLE STARTING AT 8:30…
https://us02web.zoom.us/j/2813822538?omn=81926544236
9:15 to 9:45 CET
Kickoff: Welcome, Introductions, and Anti-trust
Meet the CCRO members and our guests as we go around the room. Paul will get us
started again with the anti-trust statement…
I’m excited to introduce some new members and welcome guests to the meeting!
We’ll be asking each attendee to raise their top three risk topics, they could be current
CCRO initiative topics or new topics. We’ll tabulate them all to insure we all get to
address the most relevant issues for the attendees… for a review of the twelve topics the
CCRO is currently addressing, check out this pdf…
Bob Anderson
Executive Director
at CCRO
CCRO Board Member
Paul Turner [Remote]
Partner
at Womble Bond
Dickinson
CCRO Board Member
Topic Discussion Hosts
9:45 to 10:30 CET
Trade Support Function Governance and Performance
Our survey results bring direction to our discussion
The best practices we advanced in our original “Governance and Controls” [2002] white
paper touted clear independence of front, middle, and back offices, as well as an
independent risk function. Recently, CCRO members have suggested that given significant
advancements in CTRM technology and the transaction complexities of today's changed
markets, such traditional principles for governance over a trading business may need to be
revisited.
Workstream 1: Establishing Governance and Optimal Functional
Effectiveness
Our recent discussions are exploring more on optimum assignment of duties rather than
sharp organizational lines.
Could a more supportive relationship between the F/M/B offices and the risk function bring
opportunities for performance improvement while maintaining effective governance?
We plan to evaluate non-traditional organizational structures found in some member
organizations today. The goal is to advance the effectiveness of critical trade support
functions while still maintaining effective governance over risk.
• We will be advancing the development of a clear framework to enumerate the critical
duties of the support functions and their optimum assignment to appropriate staff
Workstream 2: Managing Back Office Performance and Risk
This workstream seeks to develop:
• Industry peer KPI data benchmarking in order to support our members in their effort
to implement internal change for management of the risk of poor performance in
these support functions
• A data/technology process best practices for calculating, monitoring, and reporting
these metrics on an on-going basis
For more information see the group’s web page here…
https://www.ccro.org/tradesupportbestpractices
David Johnson
Chief Risk Officer
American Sugar Refining
Project Lead
Eugen Luja
Chief Risk Officer
At Repsol
CCRO Board Member
Sid Jacobson
Former CRO at Cleco
Members Emeritus
Project Lead
