On 3-4 October 2018, the Banking Committee of the Institut Luxembourgeois des Administrateurs (ILA) launched its 6th annual Forum for Directors of Luxembourg Credit Institutions, hosted by KPMG Luxembourg.
This year, independent and executive board members, chairs, chief executives and key function holders from Luxembourg's banks gathered to discuss corporate governance with a focus on the latest regulatory and market updates. The forum featured a number of interactive sessions and discussions.
Key points of focus were the latest CSSF and ECB priorities, findings and expectations, the roles and responsibilities of bank boards and subsidiary issues for directors, remuneration committees and policies, IT risk and cybersecurity, and banks’ liquidity strategy and risk appetite.The group of 25 participants engaged in debating and resolving case studies and shared best practices around corporate governance of credit institutions.
Guest speakers from Luxembourg and abroad included, the managing director of the Luxembourg financial regulator (CSSF), Claude Marx, the chair of the BCEE and previous president of BNL Paribas Germany, Camille Fohl, as well representatives from the CSSF and the ECB and several members of the ILA banking committee.
Michael Schweiger led the two-day forum on behalf of ILA and noted that:“There has been a real shift from not only embedding corporate governance within banks to ensure regulatory compliance but to go further and integrate it as part of the board’s strategic plan.”