After Basel ii, risks have risen exponentially for the Boards of Directors
Released on = May 12, 2006, 7:15 am
Press Release Author = Compliance LLC
Industry = Small Business
Press Release Summary = The Basel ii Accord creates new challenges and responsibilities for the Boards of Directors. In order to perform their duties according to the highest principles and implementation practices, they need to understand what is different after Basel ii. Compliance LLC developed a half day presentation to address these concerns.
Press Release Body = FOR IMMEDIATE RELEASE
Wilmington, DE, May 15, 2006 Compliance LLC (www.compliance-llc.com), a leading international provider of Sarbanes Oxley and Basel ii consulting and training, announced the addition of a new half day presentation for potential, new and sitting directors that face the challenge to understand, review and approve corporate actions and changes coming from the implementation of the new Basel Accord.
"Risks to a serving director are real and must be managed. These risks have risen exponentially after the new Basel Capital Accord. The best way to protect themselves and their organization\'s reputation and wealth is to be aware of these risks and to perform their duties according to the highest principles and implementation practices" said George Lekatis, General Manager and Chief Compliance Consultant of Compliance LLC. "This half day presentation and discussion has been designed to help board members of financial organizations understand their new challenges, responsibilities and potential liabilities. We will discuss the changes and the best practices for organizations that have decided to implement the Basel ii framework. We have to cover some very important changes in the structure of the organization, like the operational risk management office, and we need to understand and decide sound practices for the management and supervision of the new Operational Risk"
George Lekatis has more than 16,000 hours of teaching experience, leading classes from the States to London, to Dubai, to Singapore. He said: "After the Sarbanes Oxley Act and the Basel ii Accord, there is a lot of discussion in the corporate world about the new liabilities of the CEOs and the CFOs. Today we understand that many organizations have underestimated the vital role of directors, who have to know what is changing and which are the best practices, in order to be able to review and approve corporate actions. More than ever, financial organizations need directors who are aware of the risks and prepared to take on the duties and functions of the boardroom. Unfortunately, some boards have no time for training and presentations. Everything is fine until there is a problem, and then the ability to prove that they exercise due diligence either become a board\'s best defense or its worst nightmare".
After a needs analysis, the presentation will be customized to meet specific needs.
For further information, contact Lyn Spooner, E-mail: lyn@compliance-llc.com, Tel: +1 (302) 342-8828 Ext 1, or George Lekatis, E-mail: lekatis@Compliance-LLC.com, Tel: +1 (302) 342-8828 Ext 5. Web: www.compliance-llc.com Basel ii Training: www.basel-ii-training.com The new Consulting and Training Services Catalog:
Web Site = http://www.compliance-llc.com
Contact Details = Lyn Spooner 1220 N. Market Street Suite 804 Wilmington , 19801 $$country
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