The West African Center for Banking Studies and Training (COFEB), in partnership with the Financial Technology Transfer Agency (ATTF) of Luxembourg, organized two training sessions on the subject of "Optimizing Governance and Risk Appetite for a Sustainable Strategy and Successful Business Model over the Long Term" on March 3-4 and March 5-6, 2005.

The sessions were attended by thirty-seven participants comprising members of decision-making Directories (boards of directors), executive bodies (managing directors, agency or branch managers, provisional administrators and liquidators) as well as heads of control functions (internal audit, compliance, risk management) in WAMU lending institutions.

The proceedings got underway with an introductory message from COFEB General Manager Mahaman Tahir Hamani. He stressed the importance of the training’s focus for the operational sustainability of financial institutions and the overall stability of the banking ecosystem. He added that the training sessions would allow the participants to discuss the development of long-term strategies in line with the risk appetite defined by the Board of Directors and to learn the fundamental principles of translating corporate governance into organizational practices in line with the regulatory framework.

Mr. Hamani also recalled the Banking Commission’s Circular on the governance of lending institutions and financial companies in WAMU, which sets out principles for compliance with best practices with a view to ensuring the viability of the Union’s financial institutions.

The sessions were co-hosted by Samuel Grand and Roger Hartmann. Mr. Grand has served as Chief Risk Officer at ABN AMRO Bank and in the Swiss banking group Lombard Odier. He has also served as a member of the Executive Committee of Edmond de Rothschild Bank and as chair of audit and risk committees on various financial institutions’ boards of directors. Mr. Hartmann has held positions including Chief Executive Officer, Board Member, and Advisor, notably at CIC Bank and the Crédit Mutuel Group. He also currently chairs the Management Committee of EFPA Luxembourg, an organization dedicated to professional certification in wealth management.

The proceedings, enriched by various case studies, focused on the concepts of governance and strategy, innovative strategic priorities, the internal control environment, alignment of risk appetite with evolving strategies, the role of the regulatory environment and control functions, the optimization of business objectives in the risk management cycle, and a review of human, financial, and technological capital and the related challenges.

At the end of the sessions, the participants thanked the BCEAO authorities, COFEB and the ATTF for the training opportunity, which allowed them to find appropriate answers to their concerns regarding governance strategies and optimizing risk appetite. They particularly appreciated the interactive and mutually enriching nature of the training.

The training sessions ended with closing remarks by the General Manager of COFEB. He congratulated the participants on the quality of the debates and addressed his thanks to the facilitators for their dedication and commitment to sharing their expertise with the banking and financial sector of the Union.