It is my privilege and honour to host this gala dinner on the occasion of the Tenth Annual International Operational Risk Working Group (IORWG) Conference. I wish to personally thank the co-chairperson, Ms Donna Brenner, for supporting the South African Reserve Bank’s (SARB) bid to host this important conference in this wonderful city. I, furthermore, wish to express my sincerest gratitude to all the delegates and their spouses, many who have traveled from abroad for gracing us with your presence and contributing to the debates and the discussions.