The presentation will be prefaced by a review of the risk consequences that risk management and compliance functions are intended to prevent or at least, modify.This follows with a review of how risk management and compliance functions differ and then interrelate.Firstly, the presentation examines the roles and responsibilities of the compliance function. Specifically, it focuses on the function being responsible for the management and oversight of the defined rules, regulations and business guidelines that govern the activities of each business. It examines each compliance role in detail and will particularly address the creation of internal guidelines that address market exposures, counter party risk and credit risk. Next, it addresses risk management which is focused on the overall risk management environment. Its roles and responsibilities are somewhat more abstract than compliance and include, but are not limited to, addressing risk conditions, appropriateness of risk levels, product risk stress testing, competency of staff taking risks, risks of new products, and development of risk management policies. The second part of the presentation addresses nine actual business risk events. It will detail each event in terms of the nature of the event, what caused the event, the risk consequences experienced, risk preventives that were absent and what management practices should have been present. As noted, these events will demonstrate the importance of a solid risk management environment.Areas Covered Compliance function roles and responsibilitiesNature of the compliance function Specific areas of compliance oversightRisk Management function roles and responsibilitiesNature of Risk Management functionSpecific areas of risk management engagementExamination of causes of risk eventsConsequences of actual risk events.Risk management failuresWho Should AttendCEOsPresidentsCFOsTreasurersAuditorsRisk ManagersCompliance ManagersBusiness ManagersWhy You should Attend Over the last 30 to 40 years, the management of risk has continued to become more sophisticated and is typically accomplished and overseen by the risk management and compliance functions within an organization. Unfortunately, all too often these functions are not always fully understood given there is a lack of appreciation of how they differ. The first part of this presentation will focus on how these functions differ, but also interact in carrying out their respective missions.The second part of this presentation will focus on nine actual business risk events that will generate significant insight into risk management failures. The events will be described, the consequences of the risk event displayed, the causes of the risk event discussed and the risk preventives that were lacking in each event. These case studies will drive home the importance of the risk management and compliance practices and will serve as a substantial educational experience in the management of risk.