Published On: Tue, Dec 13th, 2016

Conclusion of the Day of the Supervisory Board: risk management is imperative

KunnemanWILLEMSTAD - On Thursday 1 December 2016, VanEps Kunneman VanDoorne organized the twelfth edition of the Day of the Supervisory Board on Curaçao. The focus of this year was on risk management. This subject is gaining increasing attention within corporate governance worldwide. However, it often remains unclear what risk management exactly is and what the responsibilities of the executives and supervisors in this area are. This has been changed with the help of three experts in the field of good governance and risk management during this year's Day of the Supervisory Board.

The first speaker of the afternoon was prof. Gerard van Solinge, LLM. In his presentation, he covered the roles and responsibilities of the management and the supervisory board in the field of risk management. In addition, he illustrated using a number of practical examples the situation in this area with regard to liability. Geomaly Martes, (MA) Managing Director at Foundation Public Accountant Office (SOAB), then talked about why executives and supervisors should engage in risk management and how they can approach it. The third presentation was given by Ron Gomes Casseres (B Sc). In his presentation he stressed that risk management, in addition to using the systems and models that are available, mostly concerns managing human behavior.

The substantive part of the afternoon was concluded with a panel discussion. Approximately 80 participants had the possibility to submit their questions to the three speakers. The final conclusion of this day was that risk management cannot be dismissed as hype, but it is imperative for both executives and supervisors to start implementing it.

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