Agenda

Agenda

Plenary sessions

08:0008:45

Registration and refreshments

08:00 - 09:00

08:4509:10

Welcome to Risk Live Europe 2024

09:00 - 09:10

Duncan Wood

Global editorial director

Risk.net

Duncan Wood is the London-based editor-in-chief of Risk.net. He was promoted to the role at the start of 2015, to lead the editorial reorganisation of the website and its print titles. Wood had been editor of Risk magazine since July 2011. He rejoined Risk as European editor in October 2009, having originally worked for Risk and Asia Risk in London and Hong Kong as a writer and researcher between 1998 and 2000.

In the intervening years, Wood was news editor for the Oliver Wyman-founded online start-up ERisk.com. He also worked freelance for six years while living in Germany, with his work featuring in Euromoney, Financial News, IFR, and The Wall Street Journal, as well as Risk magazine and its sister titles. Wood has written about derivatives and risk throughout his 17-year career in journalism. He is a Neal Awards finalist, and has won Incisive Media's journalist and editor of the year awards.

09:1009:35

Opening keynote: Rory Stewart, Former Secretary of State, UK Government
Keynote address

09:10 - 09:30

Today’s geopolitical picture is complex. This opening keynote aims to demystify the current impact of global political trends, as well as looking at what might happen in the next decade and beyond. With the interconnected nature of these risks, and their impact on markets worldwide, the financial services industry needs to be prepared for potential fall out, but also is well placed to collaborate and co-ordinate efforts which might mitigate some of these risks and promote sustainable economic growth.

Rory Stewart

Former secretary of state

UK Government

Rory Stewart is a diplomat, author, explorer, academic, and politician – serving in successive Conservative governments as minister of state for international development, minister for environment, minister of state for Africa, and minister of state for prisons. He is a senior fellow at Yale University’s Jackson Institute for Global Affairs, where he teaches politics and international relations.

Stewart is an acclaimed author and co-host of the successful podcast, The Rest is Politics, alongside Alastair Campbell. He has been described by the New York Times as “living one of the most remarkable lives on record.”. Stewart was the first man to walk across Afghanistan after the US-UK invasion, and served as deputy governor of two Iraqi provinces at the age of 29. He advised the US President and British Prime Minister on their Afghanistan and Middle East policy. Stewart is proficient in 11 languages.

09:3510:00

Future in focus: The impact of evolving regulations on the European banking sector
Fireside Chat

09:35 - 10:00

  • Exploring the role of the PRA's secondary competitiveness and growth objective (SCGO) in rulemaking  
  • In-depth discussion of Basel III's impact on the UK banking sector, focusing on key aspects and the current implementation status
  • Market risk, FRTB and trade wind down – what to expect in the coming months?  
  • Silicon Valley Bank lessons learnt and work of BCBS and cross CGFS-Markets-BCBS group work 
David Bailey

Executive director for prudential policy

Bank of England

David Bailey is executive director for prudential policy, responsible for the development, negotiation and implementation of prudential policy that supports the Prudential Regulation Authority (PRA)'s objectives and broader financial stability. He also represents the PRA on the Basel Committee for Banking Supervision.

Bailey joined the Bank of England in 2014 as director of financial market infrastructure and has held roles as executive director of authorisations, RegTech and international supervision, and executive director of financial markets infrastructure. His most recent role was executive director of UK deposit takers supervision which he held until February 2024.

Prior to working at the BoE, Bailey was head of markets infrastructure and policy at the Financial Conduct Authority (FCA) and at its predecessor, the Financial Services Authority (FSA).

He graduated from Durham University and began his career at JP Morgan.

 

Philip Alexander

Desk editor, risk management and regulation

Risk.net

Philip Alexander is the risk management and regulation editor for Risk.net, overseeing a team of journalists in the UK, US and Asia. He was previously senior editor at The Banker magazine, covering financial regulation, capital markets, derivatives, and central and eastern Europe.

Prior to entering journalism, Philip edited sovereign credit research for rating agency Standard & Poor’s in London. He was awarded a PhD in modern history by the University of Cambridge for a thesis on Britain and European integration.

10:0010:45

Geopolitical unrest and black swan events
Panel discussion

10:00 - 10:45

  • How can organisations build broad, strategic resilience to prepare for and adapt to unexpected events?  
  • Long-term macroeconomic trends – including inflation, globalisation and demographic shifts – to inform proactive risk management
  • The interplay between political outcomes, economic policies, global trade and evolving environmental, social and governance (ESG) regulation  
Kanwardeep Ahluwalia

Co-head global markets risk, deputy chief risk officer, Emea

Bank of America

Kanwardeep Ahluwalia is co-head of global markets risk for Bank of America. He joined Bank of America from Swiss Re where he was the group head of financial risk management, which included the role of chief risk officer for asset management, as well as serving as the reinsurance chief risk officer for Emea. Prior to that, Ahluwalia worked at Bear Stearns where he had a number of positions leading to the roles of chief risk officer for Europe & Asia and global head of market risk. This was preceded by a period working in regulation for the UK’s former Securities & Futures Authority.

Anthony Mayer

Chief risk officer

Barclays Europe

Anna Rosenberg

Head of geopolitics

Amundi Asset Management

10:4511:10

Morning networking break

10:45 - 11:10

11:1011:35

Generative artificial intelligence (AI): understanding the landscape

11:10 - 11:35

Artificial Intelligence has had a break-through year with the emergence of Generative AI. This talk will first focus on providing an overview of the landscape of Generative AI, discussing many of the exciting technologies developed over the past year. This will be followed by deep dives into the underlying technology, its strengths and weaknesses as well as guiding principles for incorporating Generative AI technology into your business use-cases.

Daniel J. Mankowitz

Former staff research scientist

Google DeepMind

Daniel Mankowitz is a staff research scientist at Google Deepmind, working on solving the key challenges that will unlock reinforcement learning algorithms to work on real-world applications at scale. This includes a focus on reinforcement learning from human feedback (RLHF) in the context of large language models (LLMs) such as Gemini. 

He has worked on: code optimization, code generation, chip design, video compression, recommender systems, and controlling physical systems such as heating ventilation and air-conditioning (HVAC), with publications in Nature and Science. 
 

11:3512:00

Implementing generative AI in your business
Presentation

11:35 - 12:00

  • Aligning AI initiatives with strategic goals to enhance competitiveness over the next three years
  • Determining the expected impact of your AI strategy on competitive standing, whether it involves leapfrogging competitors, maintaining position, or facing potential decline
  • Preparing for the transformation of front office roles such as trading, sales, and risk management driven by wider adoption of AI technologies
  • Evaluating the potential impact of AI applications on market-making desks, client applications, and related functions within your business
  • Identifying and address regulatory challenges, including model risk management regulations, data privacy laws, general AI laws, copyright laws, and other compliance requirements, to facilitate successful AI implementation
Adam Spearing

Head of AI Innovation EMEA

ServiceNow

12:0012:45

Beyond the Basel III endgame: examining international disparity
Panel discussion

12:00 - 12:45

  • Compare regulatory approaches in the US, the UK and Europe
  • The likelihood of a complete overhaul in regulatory frameworks  
Marco Crotti

Policy expert

European Banking Authority

Marco Giovanni Crotti is a policy expert at the European Banking Authority (EBA). He is responsible for the implementation of the EBA FRTB roadmap and represents the EBA at the BCBS Market Risk Group. 

Crotti holds a MSc in mathematical engineering from Politecnico di Milano and an executive master in EU studies at the centre international de formation européenne.

Eduardo Epperlein

Managing director, global head of risk methodology

Nomura International

Eduardo Epperlein has over 20 years experience in the financial industry and is currently managing director and global head of risk methodology at Nomura. He is responsible for credit, market and operational risk methodology, as well as stress testing analytics. Prior to joining Nomura, Epperlein held various roles in risk methodology at Citigroup, including model validation. He holds a PhD in plasma physics from Imperial College, London, and spent 10 years as a research scientist prior to joining the financial industry.

Adolfo Montoro

Global market risk analytics

Bank of America

Katherine Wolicki

Global head of engagement and outreach, GBI

GARP

Katherine Wolicki is the global head of engagement and outreach for GARP Benchmarking Initiative (GBI). GBI plays a key role in supporting evidence-based policymaking through the provision of industry benchmarking studies. Prior to this she was with HSBC for 12 years where she led the global financial and model risk regulatory policy and engagement team for risk. The team was responsible for the external regulatory interface for the traded risk, treasury risk management and global risk analytics function. This included the provision of guidance on regulatory risk matters, regulatory policy interpretation and industry engagement. Prior to this, Wolicki was based in Brussels as a public affairs consultant specialising in financial services regulation. She has an MA in international economic relations from American University and a maîtrise in European and international law from the University of La Reunion. Wolicki is a fluent French speaker and an avid hiker and mountaineer.  

Philip Alexander

Desk editor, risk management and regulation

Risk.net

Philip Alexander is the risk management and regulation editor for Risk.net, overseeing a team of journalists in the UK, US and Asia. He was previously senior editor at The Banker magazine, covering financial regulation, capital markets, derivatives, and central and eastern Europe.

Prior to entering journalism, Philip edited sovereign credit research for rating agency Standard & Poor’s in London. He was awarded a PhD in modern history by the University of Cambridge for a thesis on Britain and European integration.

12:4514:00

Lunch and networking

12:45 - 14:00

13:0013:55

CRO Network members' forum
Risk Live Europe Boardroom | Risk.net CRO Network members working lunch.

13:00 - 13:55

CRO Network

With the theme of "Managing risk, without slowing down the business", and hosted by Risk.net's global editorial director, Duncan Wood, this in-person meeting of the CRO Network is a closed-door, Chatham House discussion, offering our members the chance to dig a bit deeper into the perennial challenge/ opportunity of how to make the risk function a safe enabler for the business, rather than being seen as a blocker.

Duncan Wood

Global editorial director

Risk.net

Duncan Wood is the London-based editor-in-chief of Risk.net. He was promoted to the role at the start of 2015, to lead the editorial reorganisation of the website and its print titles. Wood had been editor of Risk magazine since July 2011. He rejoined Risk as European editor in October 2009, having originally worked for Risk and Asia Risk in London and Hong Kong as a writer and researcher between 1998 and 2000.

In the intervening years, Wood was news editor for the Oliver Wyman-founded online start-up ERisk.com. He also worked freelance for six years while living in Germany, with his work featuring in Euromoney, Financial News, IFR, and The Wall Street Journal, as well as Risk magazine and its sister titles. Wood has written about derivatives and risk throughout his 17-year career in journalism. He is a Neal Awards finalist, and has won Incisive Media's journalist and editor of the year awards.

Stages

14:0014:25

Interest rate risk in the banking book and the art of capital management

14:00 - 14:25

  • Tried and tested methodologies to effectively assess liquidity risk  
  • Credit spread risk in the banking book (CSRBB) compliance and European Banking Authority (EBA) guidelines: creating a unified approach to managing interest rate and credit spread risks
  • Ensuring consistency with other regulatory reporting (financial and common reporting standards)  
  • Managing unruly and disparate datasets 
Stefano Biondi

Group chief risk officer

Banca Mediolanum

After graduating from University of Pavia in 1997 with a degree in business and economics, Stefano Biondi started to work as a junior risk manager for JP Morgan, first in Milan and then in London. Soon afterward he joined ABN AMRO Bank and subsequently moved to Amsterdam as senior credit risk manager in charge of trading counterparty credit risk management. 

During his 5 years stint at ABN AMRO Bank, Biondi also worked on the implementation of a bank-wide credit risk portfolio modelling system as well as a risk reporting tool. Following that experience at ABN AMRO he came back to London to accept a role as head of credit risk analytics and portfolio reporting at Standard Bank of South Africa in charge, among other things, of implementing the internal model for the Basel 2 FIRB project. In January 2007 Biondi returned to Italy where he joined Banca Mediolanum as head of risk control with group-wide risk management responsibilities. In 2011 he undertook an executive master in business and banking administration at Bocconi University. In 2014 Biondi took, within risk management of Banca Mediolanum, the responsibility for quantitative modelling, reporting and group wide coordination. In April 2018 became head of risk management for Banca Mediolanum reporting to the group chief risk officer. In March 2020, Biondi became group chief risk officer for Banca Mediolanum. 

14:2514:50

The Fundamental Review of the Trading Book (FRTB): internal decisioning and model adoption

14:25 - 14:50

  • The potential consequences of neglecting internal models in the context of FRTB, considering adaptability to new market conditions and product types
  • The possible competitive advantages of opting for a standard model versus an internal model, and who benefits from each approach 
Gregg Jones

Director, risk & capital

ISDA

14:5015:30

Deciphering FRTB: navigating regulation, data compliance and future assurance
Panel discussion

14:50 - 15:30

  • How regulatory frameworks are adapting to address inaccuracies  
  • Avoiding penalties and ensuring compliance
  • Is your data accurate and complete? Strategies to ensure high-quality data in the context of FRTB
  • How to assure regulators that information will remain accurate and relevant in the financial landscape of the next two to three years
  • Examine frameworks for effective collaboration between banks, supervisors, and policymakers to address supervision and capital concerns 
Fabio Lania

Market risk manager

Intesa Sanpaolo 

As a market risk manager at Intesa Sanpaolo, Fabio Lania leads the development and implementation of market risk methodologies that comply with both current and upcoming regulatory requirements, such as Basel 2.5, FRTB, and ICAAP. With over 10 years of experience in the banking industry, he has a strong background in financial risk management, banking balance sheet optimization, analytical skills and team leadership

Lania also supports Intesa Sanpaolo with quantitative and qualitative reporting for RWA optimization, addressing the impact of the new regulatory landscape on business models. Additionally, he actively participates in industry meetings and advocates on behalf of the bank for FRTB implementation. Lania's mission is to drive market risk innovation and optimization at Intesa Sanpaolo, one of the leading European banking groups.

Shearin Cao

Emea regulatory engagement function director - regulatory policy

Citi

David Phillips

Senior manager, traded risk measurement, supervisory risk specialists

PRA

Xavier Bellouard

Managing director and co-founder

ActiveViam

Xavier Bellouard is the Chief Strategy Officer of ActiveViam and one of its co-founders, based in London. Before founding ActiveViam, Xavier was a key contributor to the development of Summit Systems, a software vendor of applications for front-office operations and trading desks. Xavier is passionate about the contribution that ActiveViam’s technology can make to the bottom-line of companies operating in highly demanding and complex markets. “Our bottom-up, experience-driven approach to innovation is a fundamental component of the company’s DNA. Since ActiveViam was created in 2005, we have valued it as a prerequisite to delivering cutting-edge data analytics technology and business solutions to the financial industry.

Samuel Wilkes

Deputy editor, regulation

Risk.net

Samuel Wilkes is the deputy editor of Risk.net’s regulation desk, based in London. Sam graduated from the University of Hull with a bachelor’s degree in history.

15:3016:00

Afternoon networking break

15:30 - 16:00

16:0016:40

Capital liquidity challenges: strategies for innovation and growth
Panel discussion

15:30 - 15:55

  • Assessing capital liquidity and the challenges posed by concentrated deposit reserves
  • Strategies to diversify and optimise capital liquidity, mitigating risks and enhancing financial resilience
  • How liquidity constraints may affect mergers and acquisitions strategies, and the introduction of new financial products
Stephane Rio

CEO & founder

Opensee

Stephane Rio is the Founder and CEO of Opensee, an award-winning fintech company specialised in providing financial institutions with real-time, self-service data management and analytics solutions.

With a background in technology (Ecole Polytechnique, ENSAE) and finance (Masters in Stochastic Models Applied to Finance) Stephane is passionate about innovation, particularly when it is applied to deliver competitive hedging capabilities and operational efficiencies to the very demanding, regulated, and cost-sensitive world of financial institutions. 

Stephane’s career in finance began in 1996, when he became Global Head of Interest Rate Swaps at Commerzbank. This experience led him to found Swapstream, a fintech company acquired in 2006 by the Chicago Mercantile Exchange. He went on to join the restructuring team of Depfa Bank in 2008 as an Executive Board member responsible for Treasury, Trading, and Asset Management. Prior to founding Opensee in 2018, he worked in various senior roles in strategic consulting, private equity, and brokerage firms.

Gianfranco Maglieri

Head of banks ALM structuring

JPMorgan Chase & Co.

Gianfranco is the head of Banks ALM in J.P.Morgan's Global Structuring and Solutions team. Gianfranco focused on the Banks sector for the last 16 years covering a wide variety of topics ranging from regulatory capital, asset-liability management strategies and financial resources management in a cross-asset capacity. Gianfranco holds an Engineering Degree from Politecnico di Torino and Diplome de Grande Ecole from ESCP Paris. Previous working experience includes Blackrock Financial Markets Advisory – a team that advises financial institutions, regulators and government entities on their most critical and complex financial issues – and EMEA rates structuring at Bank of America.

Phil Harding

Commercial editor

Risk.net

16:4017:20

The critical role of clean and accurate data in digital transformation
Panel discussion

16:20 - 17:00

  • Navigating evolving reporting requirements requires clean, accurate and scalable data
  • Strategies for migrating from legacy systems to modern digital infrastructures
  • Managing risks associated with data-driven models, including the use of generative AI
Aiman El-Ramly

Chief business officer

ZE PowerGroup Inc

Aiman El-Ramly, MBA, CMC, Chief Business Officer, ZE PowerGroup has been an active member of the energy and commodities industries for 30 years. Aiman has significant understanding of what is needed for corporations to run effectively in complex global markets. ZE PowerGroup is the developer of the ZEMA™ enterprise software for data management. Aiman and his team have been recently expanding ZEMA’s capability to include advanced analytics and machine learning in resolving key industry challenges in trade, risk and operations. He is a frequent presenter, and market expert, in data and data analytics.

Aiman is also the Chief Operating Officer for ZE Power Engineering, ZE’s engineering design firm for utilities. Aiman holds an MBA from Royal Roads University and a BA in Psychology from the University of British Columbia.

Sarthek Shreya

Product manager

Numerix

Sarthak Shreya serves as a Product Manager at Numerix, where he is currently spearheading the expansion of market data management capabilities for Numerix's Trading and Risk applications, keeping the company's top-tier analytics at the core. Before taking on his current role, Sarthak focused on leading client communications, where he excelled in translating intricate business requirements into actionable solution architecture artifacts.

Sarthak's academic foundation is in Statistics and Quantitative Finance, with a BS from St. Xavier's College, Mumbai, and a MS from Singapore Management University and Bayes Business School, London. He is an AWS Certified Solutions Architect and has also earned a certification in Developing Emerging Leaders from INSEAD, affirming his commitment to leadership in a complex, evolving technological landscape.

Alpesh Doshi

Partner

Redcliffe Capital

Alpesh Doshi is a thought leader that focuses on how organisations can transform and future-proof their businesses using emerging technologies – particularly big data, analytics and blockchain. He is focused on innovative thinking and practical strategies to add value for his clients fast and often, introducing an agile approach of working to digital transformation.

Marina Antoniou

Board member

ICAEW Financial Services Faculty

14:0014:25

Transition tipping points: First slowly, then all at once
Presentation

14:00 - 14:25

An exploration of some of the key trends in policy, technology, and energy systems that are reaching critical tipping points in the transition. We will cover the risks and volatility these changes introduce and their unique opportunities. In addition, we will discuss where models struggle to capture the more dynamic elements of the transition.

David Carlin

Climate risk lead

UN Environment Programme Finance Initiative

David Carlin is an acknowledged authority on climate change and its implications for the financial system. He is the founder of Cambium Global Solutions, an advisor to governments, corporates, and financial institutions on climate and ESG topics. Carlin has authored numerous reports that provide practical tools for financial actors looking to address climate change and has run capacity-building programs for financial institutions and supervisors around the world. 

He is the head of climate risk and task force on climate-related financial disclosures (TCFD) for the UN Environment Programme’s Finance Initiative (UNEP FI). Over the past years, he has worked with over 100 global banks, investors, and insurers on climate scenarios, climate risk assessments, and climate governance. 

Carlin is an advisor to UNEP FI’s  task force on nature-related financial disclosures (TNFD) pilot program on nature and biodiversity related risks as well as the net-zero banking alliance (NZBA). He has also been a technical advisor to the Glasgow Financial Alliances for Net Zero (GFANZ), is a contributor to Forbes and a senior associate at Cambridge’s Institute for Sustainability Leadership (CISL).

He has worked as a principal in finance, risk, and public policy for Oliver Wyman and in model risk management for PNC Bank. Carlin's background is in quantitative modeling and decision science.

14:2514:50

Climate risk and liquidity management: scenario-building and integration methods
Presentation

14:25 - 14:50

  • Methods to seamlessly integrate climate and ESG scenarios into liquidity risk frameworks
  • The importance of sharing scenario results as a strategic approach to enhancing liquidity risk management
  • Practical strategies for integrating scenario outcomes related to climate and ESG factors into liquidity risk frameworks 

14:5015:30

Integrating sustainability into risk management
Panel discussion

14:50 - 15:30

  • Managing the intricacies of a comprehensive sustainability strategy intertwined with a robust risk management framework
  • Key components and considerations in aligning sustainability (climate and ESG) objectives with effective risk mitigation strategies
  • Strategies for identifying, assessing, and managing diverse risk types, ensuring a holistic approach to sustainability in risk management 
Navin Rauniar

Co-chair, ESG working group, and member & UK SteerCo member

Professional Risk Managers'​ International Association

Keith Davies

Group chief risk and compliance officer

Admiral Group

Valérie Villafranca

Group head of ESG by Design program

Societe Generale

Valérie Villafranca joined Societe Generale 5 years ago. She has been director of the Societe Generale Group's ESG by design program for 2 years. The program is in charge of operationalizing the group’s ESG transformation. 

Villafranca started her career at Arthur Andersen where she was responsible for the risk management team in Paris. In 2006, Villafranca joined Aon to develop a consulting and financial intermediation activity specializing in carbon markets, climate risks and commodities. In 2010, she was appointed managing director in charge of Accenture's Emea banking risk management practice. Before joining SG Villafranca was a director at the Boston Consulting Group in charge of risk management and compliance consulting activities for the Wesa (Western Europe, South America and Africa) region.

Caspar Siegret

Climate risk

Bank of England

Matt McGlinchey

Associate director

Sustainalytics

15:3016:00

Afternoon networking break

15:30 - 16:00

16:0016:25

Unpicking the intricacies of opaque regulations

16:00 - 16:25

  • Demystify compliance strategies sustainable finance disclosures regulation and EU taxonomy, and aligning this with sustainability goals
  • Practical approaches for organisations to contribute to sustainable development goals while navigating regulatory strictures
  • Examine the implications of the UK's decision to introduce its sustainability disclosure requirements independent of the EU

16:2516:50

Don’t forget the ‘G’: the critical role of governance in ESG

16:25 - 16:50

  • Managing and overseeing supply chain examination, antislavery initiatives, and diversity, equity, and inclusion (DEI) efforts in your firm, and getting it right
  • Finding new ways to navigate regulatory complexities and ensure compliance while maintaining transparency in reporting
  • Examining internal governance needs plus investment risks and opportunities
     
Soren Andersen

Chief risk officer

Nordea Asset Management

16:5017:30

Solving ESG data landscape challenges
Panel discussion

16:50 - 17:30

  • Challenges arising from the lack of correlation between various ESG ratings and scores – pending regulatory oversight in the UK, Europe and India on rating providers
  • Industry critiques and growing demand for increased transparency and standardisation in ESG data
  • Challenges posed by limited availability of biodiversity risk exposure data in the ESG landscape
  • Approaches to improve climate model accuracy and enhance the overall quality assurance of ESG data
     
Saurabh Singh

Climate modelling for investment governance & strategy

Aviva

Pete Cox

Vice president, product management

Northern Trust

Maria Nazarova-Doyle

Executive director, global head of sustainable investment

IFM Investors

14:0014:50

Geopolitics and financial crime: Resilience amidst geopolitical turbulence
Panel discussion

14:00 - 14:50

  • Latest geopolitical risk assessment: tracking and managing the flux of sanctions against a continued backdrop of war in Ukraine and wider global political tensions.
  • Focus on critical banking infrastructure at risk in the current geopolitical environment and contingency planning.
  • Tackling market fragmentation, conflicting regulatory requirements and new operational challenges presented by necessary cross-border cooperation.
  • What to expect from the EU's new anti-money laundering agency.
Rosamund de Sybel

Head of geopolitical risk, financial crime compliance

ICBC Standard Bank

Merlin Linehan

Risk manager

European Bank for Reconstruction and Development

Merlin Linehan is a risk manager at the European Bank for Reconstruction and Development (EBRD). He is also a regular commentator and speaker on geopolitical and climate topics.

Anna Rosenberg

Head of geopolitics

Amundi Asset Management

14:5015:30

Third Party Risk Management (TPRM): Fortifying against concentration risk in a connected world
Panel discussion

14:50 - 15:30

  • Mapping the landscape of third-party and concentration risks in European financial sectors.
  • Testing resilience: different approaches to changing data in different European localities.
  • Mapping data: combing data outside of silos into new governance models.
  • Regulatory responses to mitigate risks associated with payment system vulnerabilities.
  • Best practices for managing third-party relationships and ensuring compliance.
Justin McCarthy

Chief executive offiver

Professional Risk Managers' International Association

Justin McCarthy has worked in risk, complinace and leadership roles in many firms, including Bank of America Merrill Lynch, PwC, Ulster Bank (RBS/NatWest) and with the Irish financial regulator at the Central Bank of Ireland. This work has allowed him to see the changes in risk management and compliance since through and beyond the recent global financial crisis. His work on the PRISM risk-based supervision framework with the Irish regulator included exposure to banking, funds and insurance risk practices as well as the quantitative work done on the related impact models and the challenge in feeding valid financial data to these models.

McCarthy is chief executive officer of the Professional Risk Managers' International Association (PRMIA). This is a global risk management professional body and education organization for risk managers based in the United States with a network of over 45,000 in over 60 chapters around the world. Previous to this, he spent several years as a senior volunteer for PRMIA, serving on many committees and ultimately chairing the global board.

He has a BSc in computer science from University College Cork and an MBA from the Michael Smurfit Graduate School of Business at University College Dublin. He has a corporate director certificate from Harvard Business School.

Michele Henry

Global head of operational resilience

abrdn Investments

Maya Goethals

Director, compliance, and operational risk manager

Bank of America

Bob Barclay

UK operations process manager

ABN Amro

Bob Barclay has over 41 years financial services experience gained in both domestic and international environments.

During his 17 years of operational risk and 19 years of internal audit experience he has specialised in consumer products, fiduciary, asset management, private banking, securities servicing, stockbroking and commercial banking with firms including RBS, Citibank (that included two years in Australia as Internal Audit Manager), BNY Mellon and Société Générale. Barclay currently holds the position of UK operations process manager at ABN AMRO Bank N.V., UK Branch and is a member of the bank’s conduct and ethics committee. He has also been involved in the implementation and embedment of risk management frameworks during periods of major regulatory change and has held senior risk management roles that has required dealing with external stakeholders including clients, regulators and external auditors.

Barclay is a member of the London Institute of Banking and Finance, the CISI Risk Forum Committee and the Association of Foreign Banks Operational Risk Committee

15:3016:00

Afternoon networking break

15:30 - 16:00

16:0016:45

Consumer duty compliance: balancing the front and back books
Panel discussion

16:00 - 16:45

  • Understanding consumer duty: a deep dive into the regulatory requirements and expectations for transparency and fairness in customer interactions.
  • Front-book strategies: innovative approaches to integrating consumer duty principles into new customer acquisition and product development.
  • Back-book management: strategies for reviewing and aligning existing customer portfolios with current regulatory standards, ensuring legacy products and services meet compliance requirements.
  • Tech-enabled compliance: leveraging technology to streamline compliance processes, monitor adherence and manage risk across all customer touchpoints.
Chris Knight

Group chief risk officer

Legal and General

Chris Knight took the role of group chief risk officer in May 2021. For the previous three years he had been the chief executive of Legal and General’s retail retirement business, where he led the expansion of annuity propositions, developed one of the leading providers of lifetime mortgages and launched their financial advice and care businesses. Knight also serves as Legal and General’s customer champion, representing retail customers’ interests across the whole product range, a perspective he brings to his chief risk officer role. 

He has previously held positions at Legal and General of finance director of the international division, and chief financial officer of Legal & General Assurance Society. Knight has a first-class economics degree from King’s College, Cambridge and has worked on four continents in a career spanning more than three decades. He is a fellow of the Institute and Faculty of Actuaries.

James Daley

Managing director

Fairer Finance

James has been a consumer campaigner and financial journalist for over 20 years. In 2014, James launched Fairer Finance, the independent consumer group, consultancy, and ratings provider whose mission is to help create a financial services market that is fair for consumers as well as the companies that serve them. Prior to this, he worked for the consumer group, Which?, where he campaigned for a better deal for customers of banks and insurers in the wake of the financial crisis.  James is a member of the CII’s professional standards committee and the ABI’s Consumer Advisory Group and he is also frequently interviewed on national television and radio, where he has appeared on shows such as Watchdog, Rip-off Britain, Dispatches and Moneybox.

Duncan Wood

Global editorial director

Risk.net

Duncan Wood is the London-based editor-in-chief of Risk.net. He was promoted to the role at the start of 2015, to lead the editorial reorganisation of the website and its print titles. Wood had been editor of Risk magazine since July 2011. He rejoined Risk as European editor in October 2009, having originally worked for Risk and Asia Risk in London and Hong Kong as a writer and researcher between 1998 and 2000.

In the intervening years, Wood was news editor for the Oliver Wyman-founded online start-up ERisk.com. He also worked freelance for six years while living in Germany, with his work featuring in Euromoney, Financial News, IFR, and The Wall Street Journal, as well as Risk magazine and its sister titles. Wood has written about derivatives and risk throughout his 17-year career in journalism. He is a Neal Awards finalist, and has won Incisive Media's journalist and editor of the year awards.

16:4517:30

Risk culture: Beyond complacency and embracing anti-fragility in a polycrisis world
Panel discussion

16:45 - 17:30

  • Anti-fragility in risk management: How it can be applied to create robust business continuity and operational resilience strategies.
  • Black swans and grey rhinos: Exploring the implications of these concepts for anticipating and managing crises, moving beyond the complacency that "we've seen it all."
  • Challenging the 'end of risk management': Addressing the potential hubris in the risk management field, and how this mindset can be a blind spot in crisis preparedness.
  • Strategies for a poly-crisis environment: Discussing new approaches and methodologies for dealing with simultaneous and multifaceted crises, drawing lessons from real-world examples.
  • Adapting to unpredictability: Focusing on strategies for building adaptability and responsiveness in crisis management and disaster response to avoid falling prey to complacency.
Chandni Bhan

Chief risk officer

Wise

Jeff Simmons

Former chief risk officer

MUFG Securities Europe

Jeff Simmons joined MUFG Bank in June 2014 as the head of enterprise risk, tasked with creating the function. He has been involved intensively with the enhancement of the risk management framework in MUFG Bank (Europe). This has involved him in the formation of an enterprise risk function in Amsterdam tasked with delivering the full range of regulatory submissions.  In April 2018, Simmons transitioned to MUFG Securities to become involved in the Brexit project. In this capacity he is the chief risk officer for MUFG Securities (Europe) N.V. the Dutch subsidiary of MUFG Securities (EMEA).

Prior to joining the bank, Simmons spent some 20 years specializing in best practice risk management including market risk, credit risk, risk model validation and regulatory risk consulting. As well as having line management responsibilities in various institutions he has also gained extensive experience in implementing risk management frameworks from both a technical and operating model-based perspective.

Sean Titley

Independent risk consultant and member of Operational Risk Management Advisory Committee, Institute of Risk Management

Former Metro Bank

Andrew Morkot

Lead consultant

Riskonnect

Andrew Morkot is a UK-based lead consultant for Riskonnect. He has worked in the resilience sector for over 25 years and specialises in the development and testing of highly effective, simple, meaningful, and flexible business continuity and incident management systems and solutions, tailored to align perfectly with operational resilience, organisational strategy, and meeting customer requirements.

Philip Harding

Commercial editor

Risk.net

14:0014:25

The risk team: the secret sauce to portfolio success
Fireside chat

16:25 - 16:50

In this fireside chat, we'll discuss the symbiotic relationship between portfolio managers and risk teams, shedding light on how collaboration and alignment can drive success in today's complex investment landscape. 

  • The evolution of risk management: from traditional risk assessment to a proactive approach in portfolio construction, discover how risk teams have adapted to meet the challenges of the modern market
  • Building bridges and navigating tensions: explore strategies for fostering closer relationships between portfolio managers and risk professionals, breaking down silos to enhance communication and decision-making
  • Symmetric risk management: learn how a balanced approach to risk, encompassing both upside potential and downside protection, can lead to superior portfolio outcomes
  • The competitive advantage: understand how a strong partnership between portfolio management and risk functions can become a strategic advantage, enhancing alpha generation and investor confidence
Rob Mannix

Editor, investing

Risk.net

Rob Mannix is the desk editor for investment, covering systematic investment strategies from quant funds to factor investing. He was previously responsible for Risk.net’s insurance coverage.

Based in the London office, Rob is interested in developments in the use of new types of data, the application of machine learning in investment, and research into systematic sources of return in markets. 

Rob joined Infopro Digital (then Incisive Media) in 2008, having previously worked at Euromoney Institutional Investor, covering legal and regulatory issues affecting capital markets.

Jon Mawby

Co-head absolute and total return credit

Pictet Asset Management

Farhan Kalsheker

Head of equity risk – London

Pictet Asset Management

Farhan Kalsheker is head of Pictet Asset Management’s London equity risk team which covers long only, hedge fund and event driven portfolios investing across developed and emerging markets. Prior to this he risk managed fixed income and special sits absolute and total return portfolios at Pictet. He has over 15 years of industry experience including risk management of fixed income, credit, convertible, special sits and event driven portfolios at MAN Group’s Discretionary Unit (GLG Partners) prior to Pictet. Farhan holds an MSc in Financial Mathematics and a degree in Actuarial Science from the University of Cape Town.

14:2514:50

Managing re-correlation risk in multi-strategy hedge funds
Fireside Chat

14:25 - 14:50

•    How correlation dynamics among trading strategies within multi-strategy hedge funds can significantly impact portfolio volatility, especially during market drawdowns
•    Mechanisms through which seemingly uncorrelated trading strategies can become highly correlated under stress scenarios, leading to amplified portfolio volatility and potential margin calls
•    The delicate balance between leverage, diversification, and risk management in multi-strategy hedge funds, and the implications for achieving stable returns in varying market conditions

Rob Mannix

Editor, investing

Risk.net

Rob Mannix is the desk editor for investment, covering systematic investment strategies from quant funds to factor investing. He was previously responsible for Risk.net’s insurance coverage.

Based in the London office, Rob is interested in developments in the use of new types of data, the application of machine learning in investment, and research into systematic sources of return in markets. 

Rob joined Infopro Digital (then Incisive Media) in 2008, having previously worked at Euromoney Institutional Investor, covering legal and regulatory issues affecting capital markets.

Anthony Lawler

CEO and Chief Investment Officer

Cadwyn Capital

Abhijeet Gaikwad

Chief Information Officer

ADG Capital Management

Bio: Abhijeet Gaikwad is the Chief Information Officer (CIO) of a Quantitative Multi-Strategy fund at ADG Capital Management. The London-based firm primarily relies on quantitative strategies trading globally across asset classes and investment styles. With over a decade of experience managing quantitative strategies at renowned multi-managers, Mr. Gaikwad brings a wealth of expertise to his role. He is responsible for portfolio and research management, risk management, and overall business development. His leadership is distinguished by his commitment to a multi-strategy approach, harnessing technology and diverse investment themes to generate superior returns for investors while maintaining strict adherence to robust risk management principles.

14:5015:30

The shift from public to private markets
Panel discussion

14:50 - 15:30

  • Movement to non-public, illiquid markets, issuing debt in the private market  
  • Debt risk increasing in high interest rate environments  
  • Identifying proficient private credit managers
  • Scrutinising risk in the absence of a historical track record
  • Macroeconomic exposures and industry restructuring: the role of treasury/funding in the value chain 
Lukas Ziewer

Former group chief risk officer

Athora Holding

James Eggington

Vice president, regional director, risk oversight sales

FactSet

James Eggington is a regional sales director for Emea analytics at FactSet. In this role, he is responsible for overseeing FactSet’s risk products across the Emea region. Eggington's primary focus is on ensuring the product meets clients’ regulatory and business needs. Prior to this position, he served as a portfolio analytics specialist and consultant. He holds a degree in chemistry from the University of York.

Julien Cuisinier

Head of financial risk

Artemis Fund Management

Julien Cuisinier joined Artemis in November 2019 to build their investment risk capabilities from the ground up including market risk, credit risk, liquidity risk & ESG risk oversight across all the mandates managed on behalf of clients. Prior to Artemis, he headed the front office investment risk team at Janus Henderson covering the Emea mandates across asset classes. Cuisinier's responsibilities covered market risk advisory and oversight, liquidity risk management and support into the front office governance framework including best execution and product governance support. He graduated from Brussels Free University in 2004 in applied economics and has completed the certificate for quantitative finance and the CFA program.

Zoi Fletcher

Associate commercial editor

Risk.net

15:3016:00

Afternoon networking break

15:30 - 16:00

16:0016:25

From risk to reward: adapting to ESG investment strategies
Presentation

16:00 - 16:25

  •  How investment risk teams are shaping strategies in the dynamic landscape of ESG and sustainability
  • The intersection of climate risk and liquidity management, addressing the challenge of aligning different time horizons
  • The changing roles and concrete workflows within risk teams adapting to ESG-focused investments
     
Jan-Carl Plagge

Head of ESG research and senior quantitative investment strategist

Vanguard Asset Management

Jan-Carl Plagge is head of ESG research, a role in which he focuses on the implications of the various forms of ESG investing for investor outcomes. Prior to assuming his current role, he was head of active-passive portfolio research looking after index and active investing. Plagge has published in peer-reviewed journals and has presented his work at various practitioner and academic conferences.

He has over 18 years of experience in the financial industry. Prior to joining Vanguard, Plagge was head of research and co-head of product at STOXX, working in Frankfurt, New York and London. He also held product development roles with Deutsche Börse AG where he was responsible for the development of international equity and strategy indices.

Plagge earned a PhD in finance from the EBS - Universität für Wirtschaft und Recht, Wiesbaden, Germany and a MSc in business management from the University of Münster, Germany.

16:2516:50

Navigating liquidity risks: strengthening resilience in an era of market evolution
Fireside chat

14:00 - 14:25

•    The intricate relationship between interest rate risk and liquidity risk, particularly magnified in volatile conditions
•    How micro- and macroprudential authorities are proactively addressing systemic vulnerabilities, including the implementation of initiatives such as the Bank of England’s System-wide Exploratory Scenario.
•    How ongoing efforts by central banks will fortify the financial system against systemic risks"

 

Ovie Koloko

Chief product officer

Parameta Solutions

16:5017:30

Should we be expecting credit risk shockwaves?
Panel discussion

16:50 - 17:30

  • Weaknesses/risks in credit markets (underwriting, extend and pretend, covenant light)
  • Implications of potential downgrades for companies on the borderline of investment-grade status
  • Repricing collateralised loan obligations: impacts on refinancing cost and default rates
  • The role of credit decisioning and data analytics in navigating credit risk.  
Saadia Mujeeb

Former chief risk officer

Macquarie Group Europe

Aymeric Chauve

Director, financial institutions credit risk

Societe Generale

Lidia Treiber

Senior director, asset management and buy-side solutions

Moody's Analytics

Lidia Treiber is a Senior Director, Asset Management and Buy-Side Solutions, at Moody’s, with over 18 years of accomplishments within the asset management industry. She brings a wealth of experience, investment knowledge, integrity, and commitment to understanding investors’ needs. As quoted in the Financial Times, Reuters, CNBC, Milano Finanza, and publications across Europe, Lidia provides a deeper understanding of global investment markets’ evolving dynamics and has a keen sense of how technological innovation can better support the buy-side community’s ever-changing demands.

At Moody’s, Lidia’s focus is leading the marketing strategy of a vast suite of solutions for clients on the buy-side, leveraging our capabilities to help investment professionals gain insights to solve their most significant challenges.

Before joining Moody’s, Lidia held leadership positions at leading asset management firms. She started her career as a fixed-income credit analyst delivering investment recommendations to portfolio managers at BlackRock. From there, she went on to hold various leadership roles as a fixed-income expert providing investment market insights to institutional and retail investors in Latin America, North America, EMEA, and the UK for nearly 17 years.

Lidia is a CFA charterholder, holds a certificate in ESG investing and green bonds from CFA Institute, and most recently completed the Disruptive Strategy curriculum with Clayton Christensen at Harvard Business School.

Jon Lahraoui

Director – credit, discretionary

Man Group

Jon Lahraoui joined Man Group in December 2023 as a Director in the Credit Team.

His role is to develop Man Group’s Credit Platform globally and act as a client-facing spokesperson for the investment team. Prior to joining Man Group, Jon held a similar role at M&G Investments for 9 years where he focused on public credit markets and structured credit. Before this, Jon was a market risk analyst at M&G for 4 years.

Jon studied Mathematics with Financial Mathematics at the University of Manchester. He is also a CFA charterholder and has completed the CFA Certificate in ESG investing as well as the Professional Risk Manager Designation (PRM).

Duncan Sankey

Partner, sr. portfolio director & head of credit research

Cheyne Capital Management

Duncan is a Partner and Head of Credit Research for Cheyne’s Corporate Credit and Risk-Transfer team, having joined Cheyne as a senior analyst in 2003. Duncan has overall responsibility for Cheyne’s credit research efforts and sits on Cheyne’s ESG Forum and its Diversity and Inclusion Committee. He regularly presents Cheyne’s view on industry issues in thought-leadership articles for financial publications.

Duncan has 37 years of experience in credit, including running sell-side research at Nomura and Greenwich NatWest, prior to which he was a senior analyst for Moody’s Investors’ Service in London and New York; he began his career with Morgan Guaranty.

Duncan graduated from St. Edmund Hall, Oxford, where he was awarded an MA in Medieval and Modern Languages. Duncan also has an MSc in Corporate Governance and Ethics from Birkbeck, University of London, where, having subsequently become a governor, he now chairs the Investment Committee and is a member of the Audit Committee.  Duncan was a member of the London Centre for Corporate Governance and Ethics and formerly sat on the Education and Examinations Committee of CFA UK.  He co-authored “Opening Credit: A Practitioner’s Guide to Credit Investment.”

Connect with peers, put your questions to the experts, take away practical ideas to help your business.

14:0015:30

Traded risk roundtable: Navigating operational overhauls in finance: Impact on numerical strategies
Interactive session

14:00 - 14:50

Operational changes in finance significantly impact the strategies and calculations of our clients. From modern margin requirements to seamless platform integration, these shifts reshape decision-making processes. Real-time processing becomes crucial in dynamic markets, while managing the influx of data presents its own challenges. Within the evolution of margining, the impact of dirty CSA agreements, particularly concerning bond-as-collateral arrangements, adds another layer of complexity to the equation.

This Roundtable delves into how these operational overhauls influence numerical considerations and strategies for our clients.

Talking Points:

Evolution of Margining:

  • Impact of modern margin requirements like SIMM.
  • Strategic considerations in collateral optimization.
  • Implications of multi-currency CSA arrangements.

Avoiding Double-Booking:

  • Importance of seamless platform integration.
  • Ensuring accuracy through automated connectivity.
  • Addressing inefficiencies in reporting and risk assessment.

Real-Time Front-Office and Risk:

  • Significance of real-time processing in dynamic markets.
  • Strategies for managing trade lifecycle events effectively.

Managing More Data:

  • Challenges posed by regulatory requirements around look-through on baskets and indices.
  • Coping with the proliferation of proprietary indices.
  • Strategies for navigating faster time-to-market demands in data analytics and reporting.
Ilja Faerman

SVP product strategy

Numerix

 

Ilja Faerman serves as the SVP Product Strategy at Numerix, where he spearheads product management initiatives tailored to meet the sophisticated demands of Quants, Traders and Risk Managers. His work spans across a global client portfolio that includes both the buy and sell side. Faerman’s extensive expertise encompasses the pricing of complex derivatives across multiple asset classes, XVA desk support in building calculation infrastructure, and collaboration with structured product issuers on a wide array of processes, ranging from solutions for trade ideation to building platforms for comprehensive risk management of large portfolios.

Before joining Numerix, Faerman gained valuable experience as a Financial Engineer and Model Validation Analyst at Thomson Reuters. He holds a Bachelor of Science degree in Business and Computer Science, as well as a Master of Science degree in Finance from the renowned Frankfurt School of Finance.

15:3016:00

Afternoon networking break

15:30 - 16:00

16:0017:30

Roundtable: Counterparty Credit Risk (CCR) and Valuations Adjustments (XVA)
Interactive session

15:30 - 15:55

Please join us for an interactive roundtable where we'll discuss the latest developments in Counterparty Credit Risk (CCR) and Valuations Adjustments (XVA). Talking points include:

  • Markets
    - Challenges of managing CCR and XVA in volatile markets
    - How to hedge XVAs against geopolitical events
  • Regulation
    - Impact of the new BIS guidelines for counterparty risk management (D574)
    - Basel 3 Endgame - an unlevel playing field for CCR and CVA risk capital? 

    - Impact of PRA's update to model risk management principles (PS6/23)

  • Technology
     - Application of digital assistants
     - Cloud computing - migration challenges
     
Stuart Nield

Managing Director, Financial Risk Analytics

S&P Global Market Intelligence

Close of the day

17:3020:30

Networking drinks

17:30 - 20:30

Join us for cocktails, canapés, and a live DJ set at the fabulous The Happenstance. A short 2-minute walk from the venue, this inviting central-London bar plays host to the Risk Live Europe afterparty. Unwind with a drink, catch up with friends old and new, and take time to reflect on the key takeaways from the first day of the festival. 

The Happenstance 10 Paternoster Sq., London EC4M 7DX