prmia-kelloggchicago2013

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PRMIA AND THE KELLOGG SCHOOL OF MANAGEMENT, ZELL CENTER FOR RISK RESEARCH

RISK MANAGEMENTEXECUTIVE EDUCATION PROGRAM

Monday - Friday

July 15 - 19, 2013

The Kellogg School of ManagementNorthwestern University

Chicago, Illinois

This intensive one-week course is designed to meet the demands of the risk

professional by bridging the gap between theory and practice in financial risk

management. PRMIA and the Kellogg Schools Zell Center for Risk Research

jointly offer this classroom-based educational program featuring top faculty

from the Kellogg School of Management.

www.PRMIA.org Setting a Higher Standard in Risk Educ

A COMPLETE COURSEIN RISK MANAGEMENT

CHICAGO
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EFFECTIVELY PRACTIC ING R ISK MANAGEMENT requires a broad

solid foundation of knowledge. This intensive program, led by the facul

one of the worlds top business schools, provides delegates with just su

a foundation.

Beginning with the essential elements of finance, risk measurement, markets

financial instruments, students are then introduced to the best practices of

market, credit and operational risk management. The final sessions focus onintegrating the knowledge gained into a capital allocation framework and stud

governance best practices.

PREREQUISITES

This course takes a quantitative approach to risk management. A certain level mathematical knowledge is beneficial. This includes basic understanding ofequations, what a variable is, the use of logarithms and exponentials, and somcrude familiarity with mathematical manipulations. Exposure to statistics isrecommended.

WHAT YOU WILL LEARN

By the end of this program, participants will be able to evaluate risk managempractices in an industry setting, critically assess risk management reports andresearch, and will be able to identify the limitations and the positive role of rismanagement in real-life situations.

Additionally, participants completing this program will be able to analyze themechanism of corporate governance and its critical relationship to and with RManagement, as well as the effects of a breakdown in this relationship in a vaof situations and be able to explain current governance best practices.

WHO SHOULD ATTEND

This program is designed to develop the knowledge and understanding of riskmanagement practices for those advancing their careers in financial riskmanagement. The foundations apply across all sectors: banking, insurance, asmanagement, hedge funds, energy, securities, regulation/supervision and mo

I Chief Risk Officers and heads of risk management can use this program to developtalents of their key staff members.

I Market, credit or operational risk specialists can use this program to expand theirknowledge of other approaches to understanding risk.

I Regulators, auditors and supervisors can use this program to increase their expertivalidation of advanced risk management infrastructures.

I IT personnel can use this program to improve the effectiveness of their work in buithe risk management architecture of their organizations.

I Financial engineers can use this program to enhance the application of their technskills to the broader organization.

I Business Managers interested in learning more about risk management or expanditheir career into the field of risk management.

COURSE DELEGATE EXTRAS

Each delegate will receive a digital version of the series Professional Risk ManagersHandbook: A Comprehensive Guide to Current Theory and Best Practices. The Professional Managers Handbook is used in more than 105 countries, at 23 of the worlds 25 largesbanks and at all ten of the worlds largest financial institutions. It also serves as thefoundation of graduate level programs in risk management. Supplemental classroom nwill also be provided.

A Higher Standard for Risk Professionals

Formed in 2002 as a non-profit, member-led

ssociation of professionals, the Professional Risk

Managers International Association (PRMIA) is

edicated to advancing the standards of the risk

profession worldwide through the free exchange of

deas. We are committed to providing resources to

elp our members achieve these standards from

he cradle to the pinnacle of their careers.

The Kellogg School of Management develops

global leaders in a culture of innovation andollaboration. The schools unique approach to

management education prepares students to

become global leaders who can analyze an

organizations structure in depth, find creative

olutions to business challenges, and build

onsensus across diverse groups. Taught by a

world-class, research-based faculty, and supported

by a network of 50,000 alumni globally, todays

tudents continue the legacy that began when the

chool was founded at Northwestern University in

908. Today, Kellogg remains one of the worlds

most prestigious business schools.
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A COMPLETE COURSE IN RISK MANAGEMENT

Continental breakfast, lunch and refreshments will be provided each day.

EXECUTIVE EDUCATION PROGRAMMonday - FridayJuly 15 - 19, 20128:30 a.m. 6:00 p.m.The Kellogg School of Managementon Northwestern Universitys Chicago CampusWieboldt Hall340 East Superior Street

Chicago, IL 60611-3008

COURSE FEE US $8,495Hotel accommodations are the responsibility of the registering

delegate. For a list of suggested hotels, contact training@prmi

REGISTRATIONOnline:http://www.prmia.org/events/view_events.php?eventID=T5174

Phone: +1 612-216-4739

E-mail: [email protected]

AVAILABLE DISCOUNTSI A $500 early registration discount applies if

registrations are received by June 15, 2013.I Multiple registration discounts are available for

companies registering two or more delegates.I Sustaining Members of PRMIA receive a

discounted price.

INVOICINGInvoicing is available by contacting [email protected] +1 612-216-4739.

CANCELLATIONA refund (less a US $500 administration fee) will be made imal notice of cancellation is received two weeks prior to thedate of the event. We regret that no refunds will be made af

that date. Substitutions may be made at no extra charge.

CONTACT INFORMATIONFor more information regarding refund, complaint and/orprogram cancellation policies, please contact our offices at1-612-216-4739. To contact the PRMIA staff, visit the ContaUs link at www.prmia.orgor send an email [email protected].

This program is subject to demand. PRMIA and The Kellogg SchooManagement reserve the right to cancel or postpone the program ashort notice at no loss or liability where, in its absolute discretion, ideems this necessary.

CONTINUING EDUCATION CREDITS: See reverse side

AY 1 - MONDAY, JULY 15, 2013OUNDATIONS OF RISK MEASUREMENT - Professor Karl Schmeddersatistics for Risk: Mean, Variance, Correlation, Skew. Probability Distributionseful for Risk and Financial Models. Linear Regressions and Risk Modeling Fundamentals.

OUNDATIONS OF RISK FINANCE THEORY - Professor Robert Korajczyksk Theory in Finance: Risk Appetites. Portfolio Theory and Related Analysis.APM and its use in Risk Assessment. Capital Structures and Interest Rateructures.

AY 2 - TUESDAY, JULY 16, 2013ARKETS AND FINANCIAL INSTRUMENTS - Professor Robert Korajczyknd Pricing, Options, Futures, Forwards, Swaps, Credit and Other Derivatives. Introduction tochange Markets and How Such Instruments Trade Across the Globe.

ARKET RISK MANAGEMENT - Professor Russell Walkeranagement of Market Risk in Organizations, Risk Measures in Bonds and Other Commonnancial Instruments. Introduction to Value at Risk: Analytical VaR. Historical Simulations,onte Carlo VaR Models, Portfolio Risk Measures, Portfolio Stress Testing and Backtesting.

AY 3 - WEDNESDAY, JULY 17, 2013

REDIT RISK MANAGEMENT - Professor Russell Walkeranagement of Credit Risk, Risk of Default, Risk and Credit Agency Rating Frameworks, Creditoring, Modeling the Risk Credit Loss, and Probability of Recovery. Overview of Creditrivatives: Swaps, CDOs, Asset Backed Securities.

PERATIONAL RISK MANAGEMENT - Professor Russell Walkeranagement of Operational Risk, Identifying Operational Risk Factors, Calculating Capitalarges, Catastrophic Risk, Foundations for Modeling Operational Risk and Emerging

ameworks for Operational Risk.

AY 4 - THURSDAY, JULY 18, 2013NTERPRISE RISK MANAGEMENT - Professor Russell Walker

velopment of the Chief Risk Office, Best Practices for CROs and Leading Trends, Reporting andperational Authority, Linkages for Risk Reporting the Board and Senior Management.

SK MANAGEMENT CASE STUDIES AND ECONOMIC DATA - Professor Russell Walker

Evaluation of Leading Risk Management Cases; Including the US Subprime Crisis, Baringsnks, JP Morgan Chase, Long-term Capital Management. Economic Data on the US Economyd Risk Expectations Going Forward.

APITAL STRUCTURE AND RISK MANAGEMENT - Professor Mitchell Petersen

roduction to Impact of Capital Structure on Risk of Project Investments in a Firm, Risk Adjusted

easures for Projects will be Presented Through Real-World Cases.

RCHITECTURAL TOUR OF CHICAGO: Applying Risk Management to the Growth of a Major,odern City and How Chicago Learned from Crisis

LEBRATION DINNER

AY 5 - FRIDAY, JULY 19, 2013RISIS MANAGEMENT AND NON-MARKET RISK - Professor Russell Walkeranagement of Non-Market Risk, Including Managing Brand Reputations.

sponding to Brand Attacks, Media-Induced Crises, and Using Information to Navigate Crisesccessfully.

OVERNANCE AND BOARD OF DIRECTORS ROLES - Professor Harry M. Kraemer, Jr.anagement of Enterprise Risk, CEO and Board of Director Roles, Developing a Chief Risk Office,mmunicating Risk in the Organization, Developing Governance to Manage Risk, Learning fromse Studies: LTCM, Orange County, Nokia/Ericsson, Barings, Sub-prime Crisis.

certificate of completion will be awarded to those individuals who take the complete course.
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ROBERT KORAJCZYK

Robert A. Korajczyk is the Harry G. Guthmann

Professor of Finance and Director of the Zell Center

for Risk Research. He is a past editor of the Reviewof Financial Studies and a past associate editor of the

Review of Financial Studies, Journal of Business &Economic Statistics, Journal of Empirical Finance, and theJournal of

Financial and Quantitative Analysis. He has held visiting facultyappointments at the University of Chicago, where he earned his

Ph.D., the University of Vienna, and the Hong Kong University of

Science and Technology. He has served as a consultant to the

World Bank and a number of other organizations.

HARRY M. KRAEMER, JR.

Harry M. Jansen Kraemer, Jr. is an executive partner

with Madison Dearborn, a private equity firm based

in Chicago, Illinois and a Clinical Professor of

Management and Strategy at Northwestern

Universitys Kellogg School of Management in

Evanston, Illinois. He is the former chairman and chief executiveofficer of Baxter International Inc. Before joining Baxter, Mr.

Kraemer worked for Bank of America in corporate banking and for

Northwest Industries in planning and business development. Mr.

Kraemer graduated summa cum laude from Lawrence University of

Wisconsin with a bachelors degree in mathematics and economics.

He received an MBA degree in finance and accounting from

Northwestern Universitys Kellogg School of Management and is a

certified public accountant. For his outstanding leadership and

service, he received the 1996 Schaffner Award from the Kellogg

School of Management. His excellence in teaching has been recog-

nized with the 2008 Lawrence G. Lavengood Outstanding Professor

of the Year.

MITCHELL PETERSEN

Mitchell Petersen is the Glen Vasel Professor of

Finance. He has published widely in finance and eco-

nomics. Professor Petersens research is in the area

of empirical corporate finance the questions of

how firms evaluate potential investment projects and

how they fund such projects. He has been a member of the editori-

al board of various journals. He received his Ph.D. in Economics

from the Massachusetts Institute of Technology. Prior to joining

Kellogg, Professor Petersen taught at the University of Chicago.

KARL SCHMEDDER

Karl Schmedders is Associate Professor in the

Department of Managerial Economics and

decision Sciences. He holds a Ph.D. in Operation

Research from Stanford University. Professor

Schmedders research interests include

computational economics, asset pricing, portfolio selection and r

management. His work has been published in Econometrica, ThReview of Economic Studies, The Journal of Finance, and many

other academic journals. He teaches courses in decision science

both in the MBA and the Executive MBA program at Kellogg.

Professor Schmedders has been named to the Faculty Honor Ro

in every quarter he has taught at Kellogg. He has received nume

ous teaching awards, including the 2002 Lawrence G. Lavengood

Outstanding Professor of the Year.

RUSSELL WALKER

Russell Walker is the Associate Director of the Zel

Center for Risk Research at the Kellogg School of

Management. He teaches courses in the applicatiof business intelligence and analytics to business

opportunities, especially in risk management and

marketing. Prior to joining the Kellogg faculty, Walker was a corp

rate strategist at Capital One Financial, responsible for risk man-

agement and predictive modeling research. Walker holds an MBA

from the Kellogg School of Managements executive program and

Ph.D. and MS from the College of Engineering at Cornell Univers

Russell is frequently quoted in leading financial newspapers inclu

ing Financial Times, Herald Tribune, Crains Business, and

Washington Post, among others. He has provided executive edu

tion to leading organizations such as Microsoft, the Indian Banke

Association and Bank of Austria.

C O N T A C T I N F O R M A T I O NTo contact the PRMIA staff, visit the Contact Us link atwww.prmia.orgor send an e-mail to [email protected] call +1 612-216-4739

COURSE FACULTY

As a participant in the CFA Institute Approved-Provider

Program, PRMIA has determined that this program

qualifies for 40 credit hours. If you are a CFA Institute

member, CE credit for your participation in this pro-gram will be automatically recorded in your CE Diary

upon contacting PRMIA at [email protected].

48 CPE CreditsProgram Level: IntermediatePrerequisites: See page 2Delivery Method: Group-Live

PRMIA is registered with the National Association of State Boards ofAccountancy (NASBA) as a sponsor of continuing professional education othe National Registry of CPE Sponsors. State boards of accountancy have authority on the acceptance of individual courses for CPE credit. Complairegarding registered sponsors may be addressed to the National Registry oCPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2Web site: www.nasba.org.
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prmia-kelloggchicago2013

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