The “Basel III: New Rules for Bankers” seminar, co-organized by KORNERSTONE Institute and Classified Post, marked a remarkable success on 23 November 2010. Speaking to address the key issues in complying with the new Basel III framework, Peter Lam, KPMG Director, Risk & Compliance Services offered insights and information to senior officials in leading banking and financial institutions including HSBC, Citi Bank and Morgan Stanley Asia.

“Stress testing is no longer optional for financial institutions. Several bankers and regulators began to question the effectiveness of this quantitative risk management practice in preventing and coping with the financial crisis. Under the Basel III framework, counterparty credit risk is part of a stress-testing requirement.” Lam said. “The critical point is to get your management involved.”

Seminar participant, Albert Chan from the Standard Chartered Bank found the seminar well structured and informative. “I learnt a great deal of fundamental impact of Basel III to banks and realized the importance and benefits of stress testing. We need to focus not only on qualitative but also quantitative methods which are equally important”.

“A big thank you goes to each and every one of the participants’ support and our speaker Peter Lam to make a successful event. The tighter banking regulations introduced mean Peter Lam is an expert on the new rules, their interpretation, application and implications for the banking and financial institutions. The launching of Basel III is only a beginning and there is still a long way to go. At KORNERSTONE, our mission is to provide updated industrial events for practitioners to stay ahead of changes. Look forward to seeing you again!” said Catherine Chan, Managing Director, KORNERSTONE Institute.

Banks and financial institutions are urgently need more risk management professionals for the implementation of Basel III in Hong Kong. If you are interested to this fast-growing industry with a globally recognized credential, click here for further information.

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