Elections see three new Council members at the Institute of Operational Risk

May 16, 2012 - PRLog -- The new Council was announced at the Annual General Meeting (AGM) and made history by electing its first Director from outside the British Isles. Dominic Wu is based in Hong Kong and his election reflects the international scope for the IOR.

The new members bring a wealth of expertise from various capacities including operational risk in banking, NED responsibilities, British Bankers Association and regulation.

David Clark, Chairman of the Wholesale Market Brokers Association with other Board experience and sought after as advisor and speaker internationally was re-elected.  His involvement with the Institute stems back to its predecessor’s foundation in 2001.  As one of the earliest Fellows of the Institute, David has played an integral role in raising the profile of the IOR.

Peter McCormack, a former policy advisor on Operational Risk during the implementation of the Basel Accord, outlined his immediate priority as “leading the development of a professional diploma for IOR members to raise the profile of the Institute, attract new members and increase the IOR’s lobbying power”.

IOR steering group member John Thirlwell, who has lobbied regulators on Operational Risk in respect of Basel II, will add his extensive and invaluable Operational Risk and NED experience to the Council board.

Dominic Wu, leader of the Chapter in the Far East, a seasoned public speaker and author on promoting ORM awareness and practices in Asia-Pacific, highlighted his mission to promote the IOR as a leading professional body in risk management in Asia by linking members with key stakeholders and developing best practice.

Edward Sankey, Chairman of the Council, says:  “We have made excellent progress in the last year with more overseas Chapters, further sound practice guides being published, more events and membership growth.  As we look to build on the success of the year the IOR has the benefit of a knowledgeable and dedicated Council and other organising members who make a great contribution in delivering services to members.”

Ends

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Notes for editors

The Institute of Operational Risk
Established in January 2004, the Institute of Operational Risk is an organisation that has as its primary aim the promotion of skills and standards associated with Operational Risk Management.  It is an independent, not for profit, professional body designed to support its members through the provision of:

•   High standards - against which membership and professional competency is judged
•   External events - for the promotion of ideas, on-going professional development and networking
•   Research - to assist the above and ensure the continual improvement of methods, techniques and knowledge
•   A Knowledge Centre – the development of a robust and informative knowledge centre for operational risk management
•   Sound Practice Guidance – the development of a series of Sound Practice Guidance papers providing the know-how for a variety of risk management practices


www.ior-institute.org