| 11.00 Developing and implementing enterprise-wide risk management • Understanding the importance of enterprise-wide risk management • Key considerations for establishing an enterprise risk strategy • Analysing the different methodologies for measuring your company’s total risk exposure • Fostering a risk aware culture across the entire business • Implementing an enterprise risk management system • Managing credit risk across an enterprise Grant Thain, Senior Vice President, CITIZENS POWER |
| 11.40 Quantifying and minimising the impact of operational risk on an energy company • Defining operational risk – key drivers of operational risk • Understanding the impact of competition on operational risk – comparing the implications for smaller companies and larger companies • Categorising operational risks and their associated losses – risk categories: people; technology; relationships/ liability; physical assets; external/regulatory – functional responsibilities – relationship between operational, credit and market risk • Quantifying operational risk • Estimating the effect of operational risk on business • Ensuring best practice • Rectifying errors and managing operations • Analysing the impact of operational risk on your organisation Karin Hjalmers, Director, Quantitative Analysis, CITIZENS POWER |
| 1.50 Latest developments in the application of value-at-risk to the European energy market • Understanding the importance of VAR to business strategies • Comparing and contrasting different methods for measuring VAR • Assessing the applicability of VAR for energy companies • Incorporating stress testing into your VAR calculations • Back testing VAR analysis Alessandro Mauro, Finance Economist, ENI |
| 3.00 Applying weather risk management methodolgies to the European energy market • Analysing the impact of weather on the energy market - identifying the need to manage weather risk • Practical strategies for quantifying weather risk exposure • Incorporating weather risk into a risk management strategy • Analysing the development of a European weather derivatives market • Understanding the structure and mechanics of weather derivatives • Pricing weather derivatives • Practical application of weather derivatives to manage weather risk Vince Kaminski, Vice President and Head of Research, ENRON CORP. |
| 3.40 Minimising legal and documentation risk • Documentation and the struggle for standardisation • How to achieve watertight contracts • Netting vs. cherry picking: analysing the impact of insolvency laws on energy derivatives • Regulatory aspects of energy trading Fiona Smith, Senior Associate, CLIFFORD CHANCE Peter Scherer, Partner, CLIFFORD CHANCE PUNDER |
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Two Stream Two, 4 April Advanced risk measurement and management for European energy trading *(Move the mouse over the description marked with a star for further details) |
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