Nowadays, it's almost impossible to open a newspaper without encountering an article on 'sustainability'. Whether it's in the context of the financial services industry, the broader economy, or society as a whole, sustainability has become a critical issue. In recent years, it has gained significant traction and is now recognised as a necessity rather than just a trend.
Over the past decade, the focus on environmental issues has grown exponentially, resulting in various global commitments and initiatives aimed at transforming current institutional, economic, and financial models.
This training focuses on the implications of sustainable finance, particularly SFDR, on risk management for financial institutions, including banks and Asset Managers (AM). It aims to address how ESG factors, climate change, and broader sustainability considerations reshape the risk landscape, affecting both operational and strategic decision-making processes.
Duration: 2h30
Language: Available in English or French. The supporting material is available exclusively in English.
Number of participants: up to 15
Available as intra-company course (i.e. dedicated session on demand)
Objectives
By the end of this training, participants will:
- understand how SFDR affects risk management frameworks for banks and asset managers;
- recognise the importance of integrating ESG and climate risks into traditional risk assessment processes;
- gain insight into regulatory expectations for managing sustainability-related risks;
- develop practical strategies for adjusting risk management practices in light of sustainability objectives.
Content
- SFDR and risk management Overview
- Overview of SFDR and its regulatory impact on financial institutions.
- The integration of ESG and climate considerations in risk frameworks.
- Risk management adjustments
- Banks and asset managers: how ESG/climate risks are changing risk assessment and mitigation strategies.
- Key challenges: identifying climate-related financial risks and their impact on credit, market, and operational risks.
- Case studies and best practices
- Real-world examples showcasing how leading banks and AM firms are adapting their risk management to account for sustainability concerns.
Target audience
- Risk management professionals, compliance officers, sustainability experts, and senior managers at banks, asset management firms, and other financial institutions.
- Individuals involved in ESG integration into business operations and compliance.
Our lead experts
This training is coordinated by Michael Horvath, Frédéric Vonner, Partners and Elena Kazmina, Director at PwC Luxembourg.
Michael has acquired a strong financial and regulatory audit as well as advisory background and significant experience leading projects in the asset management sphere.
In the recent past, Michael has been particularly involved in various regulatory projects related to the implementation of the EU regulatory framework for sustainable finance (i.e. SFDR, taxonomy regulation, CSRD) at entity and product level. Michael is involved in various other regulatory projects for clients, from DORA, AML/CFT regulation over CSSF circular 18/698 to MICA.
From daily operations to regulatory compliance, Frédéric Vonner, Partner, has been helping local and global asset managers, fund service providers and banks for, nearly 20 years, to successfully run their businesses. Areas of focus: UCITS, AIFMD and GDPR regulations, PE and RE, organisation setup and review, project management.
Frédéric also engaged on the sustainability and sustainable finance matters, delivering assignments ranging from strategy and regulatory compliance to practical implementation.
He is an experienced trainer and course designer /facilitator for soft skills and technical trainings.
Elena is a director in the regulatory compliance advisory team in PwC Luxembourg having more than 10 years of professional experience.
Her core area of expertise includes topics as prudential framework stemming from the Basel committee guidelines as well as underlying regulatory reporting and disclosures, internal governance and risk management, ESG and climate risk, financial reporting and disclosures (IFRS).
She holds certification from the Association of Chartered Certified Accountants (ACCA) and Climate Risk Certificate from Global Association of Risk Professionals (GARP).
Over the past 7 years, Elena worked closely with Luxembourg based credit institutions, investment firms and management companies supporting them in ensuring the compliance with the applicable regulatory and legislative framework, encompassing EU-level regulations and directives, EBA guidelines Luxembourg-specific laws and CSSF circulars.
