Industry Forums

We are recognised as being the community hub of the Markets’ Chief Operating Officer (COO) and Chief Control Officer (CCO).

This is based upon the continued success of our quarterly COO and CCO forums that we have run since early 2015. They are now held in London, New York, Toronto, Hong Kong and Singapore.

We hold a quarterly Brexit dinner in London, as well as quarterly Women in the COO Community leadership events in London and New York.

Each forum is hosted by a different bank. Attendees are from twenty-five of the world’s leading global banks and are at Managing Director level. Different guest speakers present on various industry specific topics, and a round table debate is facilitated by Armstrong Wolfe’s Managing Director, Maurice Evlyn-Bufton.

Examples of previous debates are as follows:

COO Forum
The Changing Structure, Mandate and Governance Model of the Front Office Business Management Function

The drive towards cost savings, consequent centralisation, specialisation of certain functions and regulatory governance/compliance and control is challenging the traditional roles and responsibilities of the Markets’ COO, which previously focused on business enablement, risk assessment and taking, meeting specific locational demands and execution of the business strategy.
This is leading to the break-up, re-alignment, re-distribution and in some cases, the re-naming of the COO function.

Where now for the COO?

Key questions:

  1. What is the role of the Markets’ COO going forward? (the key influencing factors being organisational construct, the business head and the experiences/capabilities of the COO)
  2. How are the responsibilities of control, conduct, change, regulation, strategy and core business management distributed and best served?
  3. How can the COO meet the overriding need to refocus the functions efforts on supporting and enabling revenue creation?

CCO Forum
Data Management and Strategy
How can technological innovation drive the control and conduct agenda?

Key points for discussion:

  1. Transaction reporting responsibilities (understanding how these are laid out under SMR for peer banks)
  2. Remote booking controls, e.g. trader mandates
  3. Centralisation models of end to end controls (i.e. first and second lines)
  4. Enterprise risk management approaches
  5. Industry utility opportunities: supervisory and regulatory oversight (supervisory portal, regulatory requirements)

Competition Law and Compliance

Those hosting and/or attendees are reminded that the forum meets on a legitimate purpose to discuss pre-identified, market-wide non-proprietary challenges. The agenda will have been established and circulated beforehand.

It is recognised and understood that those attending are or may be in competition, and therefore it is an individual and collective responsibility to avoid any discussion on competitive and/or confidential information, such as, but not limited to company strategy or pricing.

Chatham House Rule

To further support the above, but to encourage open and lively debate, the forum will additionally operate under The Chatham House Rule. The rule originated at Chatham House with the aim of providing anonymity to speakers and to encourage openness and the sharing of information. It is now used throughout the world as an aid to free discussion, and reads as follows:

When a meeting, or part thereof, is held under the Chatham House Rule, participants are free to use the information received, but neither the identity nor the affiliation of the speaker(s), nor that of any other participant, may be revealed.

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