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The Board's Role in Oversight of Risk Management

Classroom
February 13, 2018
Philadelphia, PA



Member Price: $40
Non-Member Price: $60

Overview

 
One of the key roles of the board of directors is the oversight of the management of risk. There are no businesses without risk, and so its management involves a continuous effort to identify and mitigate risk (where cost-effective to do so), and monitor both the mitigation progress as well as the identification of any new risks, which can emerge quickly, often alongside mergers and acquisitions, technological advances, product and market launches, etc. Boards have a responsibility not only to learn about the risks faced by the company, but to help ensure that management is effectively dealing with them.
 
Our panel of experts will discuss these and other topics related to oversight of risk management, such as what type of information about risk management should the board receive, and whether outside advisors can assist the board in discharging its responsibilities. Join us for a timely discussion on the board's role in oversight of risk management, and ways to better perform that role.
 

Location and Time

 

The Union League of Philadelpiha
140 South Broad Street
Philadelphia, PA 19103

7:30 a.m. - 8:00 a.m. Registration and Breakfast

8:00 a.m. - 9:00 a.m. Program

9:00 a.m. - 9:30 a.m. Networking



Speaker Spotlight

 

Steve Abrams, JD

As a member of the Global Life Sciences Leadership Team, Steve Abrams works with clients in many areas of the life sciences ecosystem, such as oncology therapies, pain products, dermatology therapies, vaccines, diagnostics, medical devices and drug/device combinations, orphan drugs, and gene therapies. He also counsels a variety of companies that provide services to the life sciences industry. Steve has successfully negotiated and completed a range of life sciences transactions, with a particular focus on capital market offerings (IPOs, follow-on offerings, ATMs, RDOs, PIPES, and private placements), collaboration/licensing transactions, and M&A transactions. Additionally, he regularly advises public and privately held clients, including boards of directors, on securities, governance, transactional, and a range of other complex issues. Steve is a member of the board of directors of inTEST Corporation (NASDAQ: INTT) and is also a member of inTEST's Executive, Audit, and Compensation Committees. He is Chair of its Nominating Committee as well. Steve is also a member of the board of directors of the National Association of Corporate Directors - Philadelphia Chapter. He has lectured in front of various groups and published articles on securities, governance, and M&A issues.

Michael Angelakis

Michael Angelakis is the Chairman and Chief Executive Officer of Atairos, and also serves as a Senior Advisor to the Executive Management Committee of Comcast Corporation. Prior to founding Atairos, he served as Comcast’s Vice Chairman and Chief Financial Officer. In those roles, Mr. Angelakis was responsible for many strategic, financial, administrative and other areas within the Corporation. During his tenure at Comcast, Mr. Angelakis was recognized by Institutional Investor magazine as one of “America’s Best Chief Financial Officers” six out of eight years. Prior to joining Comcast, Mr. Angelakis served as Managing Director and a member of the Management and Investment Committees of Providence Equity Partners, one of the leading private equity firms investing in technology, media and communications companies around the world. Before joining Providence, Mr. Angelakis was Chief Executive Officer of State Cable TV Corporation and Aurora Telecommunications. He also served as Vice President at Manufacturers Hanover Trust Company in New York, where he oversaw one of the bank’s media and communications portfolios. Additionally, Mr. Angelakis spent several years in London developing Manufacturers Hanover’s acquisition finance and merchant banking activities throughout Western Europe. He is a member of the Board of Directors of Bowlmor, Groupon, Hewlett Packard Enterprises, Learfield Communications, TriNet, and The Orogen Group, and a trustee of Babson College. Mr. Angelakis is a graduate of Babson College and the Owner/President of the Management Program at the Harvard Business School.

Trish Oelrich, PhD

With unique insights that bring people, technology, and organizational systems together, Ms. Oelrich is an experienced corporate board member and invaluable resource for helping companies create strategies that deal with the risks that emerge as business re-invents itself in a digital world. With a focus on moving to the emerging global marketplace, she guides the conversation and inspires others to think more broadly about the impact of technology, the importance of building a moral and ethical culture, forming a balanced approach to enterprise and social risk management, and addressing cyber security risks. She has served as audit committee chair for public company boards and has expertise in enterprise risk management, IT security, social media, accounting, auditing, financial reporting and IT strategy. As Vice President of Global IT Risk Management at GlaxoSmithKline Pharmaceuticals and member of the CIO management team, Ms. Oelrich was influential in guiding the organization’s technology strategy. In this role, she created a forward-thinking vision for risk management, bringing together IT security, data information protection, business continuity and disaster recovery planning, privacy, regulatory compliance, and Sarbanes-Oxley. This resulted in a more transparent global view of risk mitigation and an improved risk profile. Ms. Oelrich gained extensive international experience working in other countries throughout her career at the pharmaceutical company. Previously, at SmithKline Beecham Pharmaceuticals, Ms. Oelrich had worldwide responsibility as the Vice President of Internal Audit. She transformed a traditional audit function to a risk-based and value-added audit and consulting function. She built a high performance team that was recognized as advisors throughout the company on strategic business issues. Ms. Oelrich was also instrumental in initiating the first corporate ethics and compliance function at SmithKline Beecham. Earlier, she rose through the ranks of Ernst & Young to Partner & Practice Leader, where she headed the leading-edge Information Systems Audit and IT Security Practice in Chicago as well as serviced audit clients across industries with emphasis on large financial institutions and insurance companies. Ms.Oelrich has been cleared from any independence concerns with E&Y clients. Ms. Oelrich, a CPA, holds a BBA in Accounting and Information Systems, and MA and PhD in Human and Organizational Systems. Her PhD focused on moral and ethical behavior in the use of social technologies. She currently serves as Audit Committee Chair for the FHLB–Office of Finance Board of Directors and previously served as Audit Committee Chair for Pepco Holdings, a Fortune 500 utility company before their sale to Exelon. She is a faculty member for Drexel University Director’s Academy. Ms. Oelrich also has been active on various industry and not-for-profit boards as Board chair, Treasurer, and committee chair.

Ian Waxman

Ian is a Principal with Navigate, a Philadelphia-based management consulting firm that works with its clients to drive positive business outcomes and proactively manage risk. He brings nearly 20 years of consulting experience providing strategic advice to Fortune 1000, public sector and non-profit executives / Boards of Directors. Ian is a member of Navigate’s Leadership Team and leads the firm’s Risk Management service area. He is responsible for coordination and delivery of complex engagements across several of the firm’s most strategic clients. Prior to joining Navigate in early 2016, Ian spent more than ten years at Deloitte, supporting their Governance, Risk and Regulatory practice across healthcare, technology and public sector industries. His specialty is Enterprise Risk Management (ERM); he has been working in that domain since 1999. Ian graduated from the University of Wisconsin - Madison in 1999 with a Bachelors of Business Administration in both Finance and Risk Management & Insurance.

Accreditation

 

1 Credit




Question about this Event?

Contact NACD Philadelphia Chapter:

P.O. Box 34374, Philadelphia, PA, 19101

phone: 610-640-5454

email: programs@philadelphia.nacdonline.org