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How Directors Know When Management is Betting the Farm, and Guidance for Best Risk Oversight

Date Start End Location   Event Registration
11 Mar 2010 07:30 AM 09:00 AM The Chicago Club
81 E. Van Buren
Chicago, IL 60605
Registration has ended.


Managing risk was bungled by many management teams over the past few years, and boards of directors could have done a better job in their oversight roles.  In order to grow profitably and achieve the mission, taking risk is exactly what we want our leaders to do.  But are we appropriately focused on the amount of risk we are willing to take in pursuit of value?  Our experienced and distinguished panel will address:
•   How different types of risks are best managed, and what specific information directors should request to provide the best oversight
•   What the board must ask management about risk in order to understand how accretive a strategy will be
•   The risks that concern shareholders today
•   RiskMetrics' new Governance Risk Indicators (GRId), a governance rating tool
•   Effective communication about risk, both for directors and shareholders

Moderator
Michelle L. Collins is President of Cambium LLC which provides business and financial advice to small to medium-sized businesses.  She was previously the Co-Founder of Svoboda, Collins LLC, a private equity firm, and a principal at William Blair & Company, LLC. Ms. Collins is currently a board member of Molex, Inc., Bucyrus International, Inc., Health Care Services Corporation, Columbia Acorn and Wanger Advisors Trusts, and Arrowstream, Inc.  Previously, she was a board member of the following public companies, CDW Corporation, McWhorter Technologies, Inc., and Coldwater Creek, Inc.  As a private equity investor, Ms. Collins previously served on several private company boards.

Panelists
Patrick McGurn provides special counsel to RiskMetrics Group’s ISS Governance Services unit. Considered by industry constituents to be one of the leading experts on corporate governance issues, he is active on the nationwide speaking circuit and plays an integral role in policy development.  Prior to joining RiskMetrics Group, McGurn was director of the Corporate Governance Service at the Investor Responsibility Research Center (IRRC), a not-for-profit firm that provides governance research to investors.

Neil S. Novich was most recently Chairman, President and CEO of Ryerson, Inc., a $6 billion global metals distributor/processor.  Novich joined the Company in 1994 as Chief Operating Officer. In 1996 he became President and CEO of Ryerson concurrent with the initial public offering of Ryerson stock. In 1999 he was also named Chairman.  Prior to Ryerson, Mr Novich was a partner with Bain and Company, an international management consulting firm. Mr. Novich is a Director of W.W. Grainger, Inc., serving as Chairman of the Compensation Committee.  He also is a director of Analog Devices, a leading semiconductor manufacturer and a director of a number of high tech start ups.  He is a trustee of the Field Museum of Natural History. 
 
Alex Wittenberg is the Managing Partner of Oliver Wyman’s Corporate Risk practice, with over 20 years of cross-industry experience in risk management advisory and risk transfer solutions.  Alex specializes in integrating risk into strategic decision-making and financial performance, designing risk governance for Boards and Management, and developing corporate risk monitoring, mitigation and transfer frameworks.  He also advises Board risk and audit committees on risk oversight and strategy.  Alex is Marsh & McLennan’s representative to the National Association of Corporate Directors (NACD), The World Economic Forum’s Global Risk Network, and the Organization for Economic Cooperation and Development.