Senior Vice President, Chief Risk Officer, Allianz Life of North America
Masterclass 7: Managing Risk within your Practice
The COVID-19 pandemic has significantly disrupted lives and businesses in 2020, and continues to do so in 2021. In addition to health and safety issues, profound changes have been made to the working model of companies - new norms in terms of digital interactions and work-from-home has emerged. In parallel, societal issues such as discrimination and climate change have given rise to social movements across the country. While business owners are very cognizant of financial and investments risks, understated risks such as business interruption or cyber risks have been pushed to the forefront. Questions around data privacy in a work-from-home context and employee well-being, amongst others, also need to be addressed. Therefore, business owners have been forced to reconsider their business resiliency and reputation in the face of rapid change. A key lever to navigate these and future challenging/uncertain times is a strong risk and integrity culture. This mind-set allows to pro-actively consider risks outside of the financial and investment realm, and to react fast and confidently in changing environments, ultimately creating value and opportunities for the business. In this talk, Jean-Roch Sibille, SVP Chief Risk Officer of Allianz Life of North America, will use examples of risks often over-looked by business owners, such as operational or reputational, and how they have increased as a result of the pandemic, to demonstrate the importance of the risk culture in all businesses. He will also provide ideas of how to start building the risk culture with different levels of time and resources.
Jean-Roch Sibille is the chief risk officer for Allianz Life Insurance Company of North America, a company with more than $130 billion in assets under management, and leads the Corporate Risk Management department. In this role, Sibille is responsible for setting and monitoring the risk appetite of the company. He also has the lead for internal and external risk capital modeling, product and asset reviews, hedge effectiveness monitoring, financial risk management as well as enterprise risk management. Previously, Sibille held senior leadership positions at the Allianz headquarter in Munich as group head of market risk management and risk reporting and group head of independent validation. Sibille has been with the Allianz Group since 2014. Before that, Sibille led the life activities and financial risk management team of AXA Belgium and worked as a consultant for Risk Dynamics, part of McKinsey & Company.