ILA 2018 Forum for Directors of Luxembourg Credit Institutions
On October 3rd and 4th, 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, board chairs, chief executives, and key function holders of Luxembourg 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.
Guest speakers from Luxembourg and abroad included among others, the directeur general 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.
The group of 25 participants actively engaged in debating and resolving case studies and shared best practices around corporate governance of credit institutions. 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.”
The Forum for Directors of Luxembourg Credit Institutions is a flagship ILA event offered each year for directors of credit institutions and it is unique to Luxembourg and accredited by the CSSF.
The mission of ILA is to promote the profession of directors by developing its members into highly qualified, effective and respected directors. ILA promotes best practices in Luxembourg in the field of corporate governance of companies and institutions notably by providing for high quality training, forum discussion, research, publications and conferences. ILA is the first interlocutor in Luxembourg on issues affecting Directors and play an important role at the European level.