June 7, 2023

155 Bishopsgate, London

Agenda

Agenda

Risk Live Europe Agenda 2023

08:0008:45

Breakfast briefings

08:10 - 08:45

08:5009:00

Risk Live Europe Welcome - main stage

08:50 - 09:00

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.

09:0009:20

Keynote address from a leading CRO

09:00 - 09:20

09:2009:40

Keynote presentation from regulator

09:20 - 09:40

Update on regulatory frameworks for risk management

10:0010:50

Panel discussion: Main events shaping risk climate in 2023

10:00 - 10:50

Economic recession, ongoing war in Ukraine, inflation, high market volatility, high interest rates, climate change: how are these and other events and pressures shaping the environment for financial risk managers in 2023?

 

 

Nick Silitch

Former- chief risk officer

Prudential

Sebastjan Smodis

AM EMEA CRO and Global Head of Investment Risk

UBS

Jeremy Arnold

Chief risk officer

NatWest Markets

Jeremy Arnold joined NatWest Markets as chief risk officer in September 2018 and is responsible for leading the organisation's risk function by defining and delivering risk, conduct, compliance and financial crime strategies to support its ambition, strategy and risk appetite. He has extensive experience, spanning a variety of roles in trading and risk management over the past 30 years at a number of leading global financial institutions.

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.

Trevor Leydon

Global chief risk officer

Lombard Odier Investment Managers

Trevor Leydon oversees Aviva Investors' portfolio construction and risk for multi-asset strategies, providing overarching quantitative discipline to the portfolio management process. This includes monitoring and providing risk parameters for individual portfolios and top level reporting to senior management. Prior to joining Aviva Investors, he was responsible for UK and Ireland risk control at UBS Global Asset Management. Leydon joined the industry working for HSBC's investment bank in risk before moving to Santander's global banking and market risk team. He holds a masters degree in accounting and finance from the University of Ulster, having graduated from Dublin Business School. He is also a fellow of the Association of Certified Chartered Accountants.

 

 

10:5011:30

Networking refreshments break

10:30 - 11:00

11:3012:00

Panel discussion: changing role of CRO / risk manager

11:30 - 12:00

Events and pressures discussed in the previous panel have an impact on risk managers’ function and day-to-day work. How do risk managers respond?

  • How is the skillset required for modern risk managers changing and becoming more complex?
  • Technology skills, and an understanding of global issues such as climate risk are becoming more important. What other skills are required from a modern risk manager?
  • Is the risk management function gaining more prominence and moving more towards the front office? Where does it belong within a bank/ financial organisation? Case studies from several organisations on restructuring of their risk management functions
Hanna Sarraf

Chief risk strategy officer

Starling Bank

Hanna Sarraf is a senior risk management executive, with over twenty five years’ experience in developing and implementing risk and regulatory management frameworks that deliver effective results in the financial services industry. He is currently the Chief Risk Strategy Officer at Starling Bank and was previously the Group Chief Risk Officer at Bankmed, a regional corporate, retail and private banking organisation with operations across the EMEA region. Prior to joining Bankmed, Hanna was the Group Executive, Head of Risk Strategy at Bank of Ireland and previously held senior risk and regulatory management consulting roles at Ernst & Young, KPMG and Accenture in the UK and globally.

Hanna’s international industry and client consulting experience spans a wide range of risk and regulatory management roles both at the strategic and execution levels gained with leading financial services organisations across all major industry segments in a wide number of geographic markets.

He holds a Specialised Master’s degree in Financial Engineering from the École Supérieure des Sciences Économiques et Commerciales (ESSEC) and an MSc in Finance from Dauphine University in France. He has authored many articles on financial risk management and is a frequent speaker at leading UK and international conferences.

Chris Knight

Group chief risk officer

Legal and General

Chris Knight took the role of group chief risk officer (CRO) 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 our 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 CRO 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.

Thomas Sheedy

Head of investment risk EMEA

Invesco

Julien Cuisinier

Head of Investment and Credit Risk

Artemis Fund Management

Julien 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, Julien headed the front office investment risk team at Janus Henderson covering the EMEA mandates across asset classes. His 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.  Julien graduated from Brussels Free University in 2004 in Applied Economics and has completed the Certificate for Quantitative Finance and the CFA program.

12:0012:30

Panel discussion: Technological innovation and disruption in risk management

12:00 - 12:30

Understanding technological innovation is essential for risk managers who want to stay at the forefront of their industry.

  • What new technologies are emerging?
  • How to use them in order to improve the effectiveness of risk management function?
Phil Harding

Commercial editor

Risk.net

Ilja Faerman

MD, Financial Engineering – EMEA

Numerix

Ilja Faerman is vice-president and head of client solutions group at Numerix. He has successfully delivered projects across Europe, the Middle East and Africa, covering pricing of complex derivatives in multiple asset classes and calculating market and counterparty credit risk figures for large portfolios of simple and complex instruments. Prior to joining Numerix, Faerman worked as a financial engineer and model validation analyst at Thomson Reuters. He holds a bachelor of science degree in business and computer science from the University of Rostock and an masters of science degree in finance from the Frankfurt School of Finance and Management.

12:3013:00

Expert session: Model risk management (MRM)

12:30 - 13:00

Traditional models of risk management don’t always work in the current environment; it is not possible to use just one metrics - there is a need to stitch together various metrics and concepts. How can risk management become more contextual, realistic and scenario led?

  • Model validation
  • Using big data and advanced analytics for MRM
  • New legislation in the UK in model risk management

13:0014:00

Networking lunch
Including tech demos in the networking area

13:00 - 14:00

14:0014:30

Panel discussion: Managing LIQUIDITY risk

14:00 - 14:30

Managing liquidity risk, especially in buy-side firms and smaller banks has become a significant challenge. What are the ways to address it?

  • Updates on latest FCA recommendations on liquidity risk
  • Liquidity stress testing
  • Using side pockets for certain types of assets for managing liquidity risk at buy-side firms
  • Investment risk/ liquidity risk on private assets such as direct real estate, infrastructure, private equity / debt 
Julien Cuisinier

Head of Investment and Credit Risk

Artemis Fund Management

Julien 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, Julien headed the front office investment risk team at Janus Henderson covering the EMEA mandates across asset classes. His 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.  Julien graduated from Brussels Free University in 2004 in Applied Economics and has completed the Certificate for Quantitative Finance and the CFA program.

Sebastjan Smodis

AM EMEA CRO and Global Head of Investment Risk

UBS

Lu Li

Managing director and head of investment risk management for EMEA & APAC

Nuveen

14:3015:05

Panel: New drivers in credit risk

14:30 - 15:05

Rising interest rates, geo-political pressures and other factors are having an impact on banks’ lending books and on credit risk. How will credit risk managers respond to these new threats?

  • Managing credit risk in high interest rate environment
  • War between Russia and Ukraine and other geo-political factors - how they affect credit risk and what are possible solutions?
  • Impact of climate scenarios on credit risk measures
  • Credit risk modelling using natural language processing (NLP) and transformer models
Andreea Petreanu

Head of Credit Risk

Mizuho International

Andreea Petreanu is currently Head of Credit Risk Management at Mizuho International in London. Over the past 20 years, she has had various risk management roles with global investment banks such as Morgan Stanley, HSBC, Merrill Lynch, Bank of America and VTB Capital. Andreea is also an Independent Non-Executive Director and Chair of the Risk Committee of Globalworth, a leading real estate investment company in Central and Eastern listed on AIMS with portfolio value over EUR3bn.  Andreea’s educational background includes an Executive MBA from the University of Cambridge, Judge Business School and an MSc in Insurance and Risk Management from City University, CASS Business School. She is also an Associate of the Chartered Insurance Institute in London.

Salvatore Bilotta

EMEA Head of Credit RIsk Management

Nomura

15:0515:45

Panel discussion: focus on risk management in trading

15:05 - 15:45

  • VOLATILITY – buzz word of 2022. Modelling and managing volatility in trading books. What technologies are available?
  • Derivatives trading and pricing. Counterparty risk. Latest news on CVA/ XVA
  • Managing trading risk at the backdrop of rising interest rates
  • How trader can build an effective risk management system to protect capital from losses?
Jasper Livingsmith

Director, Treasury

EBRD

15:4516:15

Networking refreshments break

10:30 - 11:00

16:1516:35

Expert presentation: Machine Learning (ML) and Artificial Intelligence (AI)

16:16 - 16:35

  • Opportunities and potential pitfalls of using AI in risk management
  • Explainable AI (XAI) and how it can be used
  • UK: the role of BoE in AI and ML

16:3516:45

Lessons learnt after the collapse of FTX

16:35 - 16:45

Soapbox presentation: Lessons learnt after the collapse of FTX – an organisation that did not have robust risk management in place. Challenges in regulation of digital assets.

Dina Tsarapkina

Co-Founder & Co-Chief Investment Officer

Syncretic Capital

Dina Tsarapkina is the Co-Chief Investment Officer and co-founder of Syncretic Capital, a new cyclical multi-strategy hedge fund focused on digital asset markets. Prior to launching Syncretic Capital, Dina was at Bridgewater Associates for 4+ years where she worked for Co-Chief Investment Officer Bob Prince, prototyping new investment and portfolio concepts, as well as in trading analytics assessing trade execution and market liquidity. Alongside her co-founder Ross Tan, she helped originate and lead Bridgewater’s research on the crypto and digital assets space from late 2020. Prior to her time at Bridgewater, she worked as a quant at Goldman Sachs within private markets, and in exotic derivatives at Scotiabank. She has a Master in Quantitative Finance from the University of Waterloo, and a Bachelor in Scientific Computing & Numerical Methods (1st in class), and Financial Modelling (also 1st in class) from the University of Western Ontario. 

 

17:0017:30

Concluding keynote presentation on the future of risk management - main stage

17:00 - 17:30

17:3019:00

Networking gala

17:30 - 19:00

08:1008:45

Breakfast briefing: Data science to the rescue – the future of financial crime compliance

08:10 - 08:45

As the industry faces an increasingly complex crime landscape and stringent regulatory expectations, join this breakfast briefing to gain insight into how firms are maximizing on the potential for data science to combat financial crime, unpicking: 
  • Applications in insider trading, sanctions, money laundering, terrorist financing and more
  • Navigating legacy systems
  • The evolution of crime topologies
  • Criminal innovation - old world crimes in the new digital realm
  • A rapidly changing regulatory environment 
  • Why data science is the best solution 

09:5010:00

Chair's opening remarks: crisis as the new norm, volatility and an accelerated digital landscape

09:50 - 10:10

One thing is for sure, crisis appears to be the new norm. From geopolitical risk through to climate risk coupled with an expanding threat ecosystem encouraged by digital transformation, OpRisk Europe will unpick the pressing challenges changing the face of operational risk and impacting losses. 

We encourage audience participation, please feel free to contribute verbally or by using Slid.o. 

10:0010:30

Regulatory update: thinking 2023 and beyond

10:00 - 10:20

Gain insight into the key priorities keeping regulators up at night and what needs to be on your organisation's radar for 2023. 

10:3011:00

Digital transformation, risk and resilience panel

10:30 - 11:00

  • Operational risk assessment of third-party payment platforms
  • Moving applications into the cloud
  • Third party dependencies
Stefana Brown

Chief risk officer, UK protection and fintech, and director, IT and data protection risk

Legal & General Retail

Stefana Brown is chief risk officer, UK protection and fintech, and director, IT and data protection risk, at Legal & General Retail. She spent 10 years at Lloyds Banking Group and four at M&G Investments before joining Legal & General Retail.

Julien Haye

Global head of non-financial risk

Fidelity International

Julien Haye joined Fidelity International (FIL) in July 2017 as head of non-financial risk and has over twenty years’ experience in the financial industry. In his current role, he partners with FIL’s top management and board, leveraging risk insights to improve the firm’s operating model efficiency and product offering through effective risk management and culture, and to continuously improve the firm’s client outcome and journey. Haye joined Fidelity from DWS, where his role was global conduct officer and UK chief risk officer. He joined Deutsche Bank in 2012, where he held various positions in risk oversight and the Internal Capital Adequacy Assessment Process, before joining the three lines of defence programme as risk and control assessment lead. Haye has worked for several financial services institutions in treasury, risk, capital management, programme management and trading.

11:0011:30

Networking coffee break and knowledge cafes

11:00 - 11:30

  • A new landscape of TPRM
  • Rethinking cyber risk

11:3012:00

Fireside chat on scenario construction: modelling for unanticipated risks

10:30 - 11:00

  • Using quantitative techniques to determine the risk exposure of specific situations
  • Understanding how specific scenarios would impact a given organisation, the losses and the potential consequences
  • Setting an industry standard
  • Scenario analysis - how far do you need to stretch for tail risks?
Eelco Van-Dijk

Former senior operational risk analyst capital management, ING

Independent expert

Eelco van Dijk joined ING Bank in 2008 and started working in the modelling and scenario team of Group Operational Risk.

Since 2013 ING reports operational risk regulatory capital according to the AMA model.

The AMA model uses among other internal loss events. Therefore Eelco deals with many aspects of internal loss events (data quality, completeness, etc)

Prior to moving to ING Eelco worked at ABN AMRO in a variety of risk roles for almost 20 years.

Eelco is member of the Risk Committee of the Dutch VBA CFA chapter  

 

12:0012:30

New horizons in TPRM: from fintechs to cyber risk

12:10 - 12:50

  • The relationship between TPRM and operational risk
  • TPRM and the relationship with the board: forming a strategic alliance
  • Cloud and cyber risk 
  • The new realm of Fintechs
  • Tools - using data analytics and AI
Sean Titley

Member of the Operational Risk Advisory Committee

The Institute of Operational Risk/IRM

A leading member of the Operational Risk community in London, with over 20 years of experience in Risk Management, Sean has co-authored several papers and acted as a speaker at many conferences, seminars and webinars.

He has an extensive network of contacts in the discipline as the Director of Business Development for the Institute of Operational Risk (IOR), promoting the development of the IOR and its Certificate in Operational Risk Management, and was until recently the Deputy Chair of the Association of Foreign Banks Operational Risk Committee, sourcing speakers and chairing discussions about regulatory issues and leading practices.   

Sean has held Director-level roles in Operational Risk, Credit Risk, Strategy/New Business and Governance and Front Office Supervision, having extensive practical knowledge of treasury, capital markets, lending and advisory businesses, including front, back and middle office operations and risk and support functions.

He has experience of regulations applicable across Europe and Asia Pacific and has handled a number of major regulatory reviews.

Sean has developed many governance and risk policies and frameworks and run bank wide risk projects reporting to Boards and executive level committees, benchmarking against regulatory requirements and leading practices.

Praveen Singh

Head of global IT risk and cyber security

ICBC

12:3013:00

Unifying the CISO and CRO: bridging the gap with ORM panel

12:50 - 13:00

  • Setting a risk appetite for cyber risk
  • Factoring cyber risk into ‘risk’
  • Managing the mind-set
  • Skills and resource
Dan Davis

Chief risk officer

National Employment Savings Trust

13:0014:00

Lunch and confidential lunch boardrooms

13:00 - 14:00

13:0014:00

Chatham house lunch boardroom: unpicking resilience - from DORA to critical third parties

13:00 - 14:00

Setting out impact tolerances through to meeting regulatory demands, operational resilience has become a global initiative for financial services and critical infrastructure. Gain and share insights with your industry peers exploring how to overcome challenges related to deciphering and preparing for regulatory expectations, understand where your peers are in relation to meeting the 2025 FCA and Bank of England deadline on building operational resilience and hear how regulations are rolling out across Europe, including delving into the EBA's DORA. 

This is an informal session led by industry experts and will operate under Chatham House rules. Bring your lunch, have a seat and get involved! 

Bob Barclay

Risk manager

ABN AMRO

Bob Barclay has over forty 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. He currently holds the position of Risk Manager at ABN AMRO Bank N.V., UK Branch and is a member of the bank’s Conduct and Ethics committee. Bob 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.

Bob 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

Merlin Linehan

Risk manager

ERBD

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.

Nitesh Patel

Group operational risk director

Lloyds Banking Group

14:0014:30

How climate change may impact operational and reputational risks

14:00 - 14:30

  • Behavioural and economic consequences of climate change
  • Transmission into operational and reputational risks – applying the Ten Laws of Operational Risk
  • Quantification of operational and reputational risks – utilising scenario analysis, stress testing and capital modelling

 

    Michael Grimwade

    Managing director, operational risk

    ICBC Standard Bank

    Michael Grimwade is managing director, operational risk, at ICBC Standard Bank and has previously held senior op risk management roles at MUFG Securities, RBS and Lloyds. Prior to this, he held management consultant positions at PwC and Deloitte Consulting. Grimwade has been a director of the Institute of Operational Risk (IOR) and is currently the chair of the Association of Foreign Banks' Operational Risk Expert Panel. He has authored a number of articles on setting appetite for op risk; scenario analysis techniques; climate change; quantifying emerging risks; and modelling op risk capital. He received an award in 2014 from the IOR for his contribution to the profession. His second book, Ten laws of operational risk, was published in December 2021.

    14:3015:00

    Climate change as the pillar of ESG – what needs to be on your radar?

    14:30 - 15:00

    In a time when businesses are stretched, hear how leading FIs are envisioning the future of ESG, how they’re addressing climate risk and how they are prioritizing in the face of economic volatility.

    Michael Grimwade

    Managing director, operational risk

    ICBC Standard Bank

    Michael Grimwade is managing director, operational risk, at ICBC Standard Bank and has previously held senior op risk management roles at MUFG Securities, RBS and Lloyds. Prior to this, he held management consultant positions at PwC and Deloitte Consulting. Grimwade has been a director of the Institute of Operational Risk (IOR) and is currently the chair of the Association of Foreign Banks' Operational Risk Expert Panel. He has authored a number of articles on setting appetite for op risk; scenario analysis techniques; climate change; quantifying emerging risks; and modelling op risk capital. He received an award in 2014 from the IOR for his contribution to the profession. His second book, Ten laws of operational risk, was published in December 2021.

    Sam Barrett

    Researcher (climate adaptation), climate change

    International Institute for Environment and Development

    15:0015:30

    Afternoon networking coffee break and knowledge cafes

    15:30 - 16:00

    15:3016:00

    Boardroom takeaways on the Top 10 Operational Risks

    15:30 - 16:00

    Weighing in on Risk.net’s Top 10 operational risks, Chief operational risk officers delve into the top risks keeping them awake at night from AML through to cyber breaches. This session will call on the audience to vote on the risks central to their firms so ensure you're using our live polling application Slid.o.
    Tom Osborn

    Editor, risk management

    Risk.net

    Tom Osborn is the desk editor of Risk.net's risk management coverage. Prior to joining Risk, he reported on the futures and foreign exchange industries for Dow Jones' Financial News and the Euromoney group of publications. Osborn holds a bachelor's degree in English literature from the University of Warwick.

    16:0016:30

    Changing the face of operational risk – predictive analytics panel

    16:00 - 16:30

    As the operational risk landscape increases in complexity, firms are turning to analytics to streamline the way they manage these risks. Given the spread of operational risks, there is a definitive gap between what has been mapped and available data. How are FIs effectively applying analytics to ORM?

    16:3017:00

    Unpicking operational resilience expectations –mapping, testing and impact tolerances for important business services panel

    16:30 - 17:00

    In the lead up to the 2025 deadline for FCA and PRA expectations on operational resilience, hear how firms are preparing and their thoughts on impending expectations.

    Cinzia Dicorato-Rura

    Head of EMEA operational resilience risk

    State Street

    Richard Flood

    Managing director and global head of operational resilience risk

    State Street Bank

    08:5009:00

    Chair’s Opening Remarks

    08:50 - 09:00

    09:0010:00

    Main Stage | Risk Live

    09:00 - 10:45

    10:0010:45

    Lessons learned from stagflation and energy crisis. Is it possible for asset managers to make money in 2023?

    10:00 - 10:45

    • How long will the recession last and what is going to be the next growth catalyst?
    • What data is best?
    • Geopolitics and digital assets, what opportunities will they bring? 
    • What are the main flaws in risk management techniques and how to overcome them?
    Erik Vynckier

    Board member

    Foresters Friendly Society

    Erik Vynckier is board member of Foresters Friendly Society, general partner of InsurTech Venture Partners and chair of the Institute and Faculty of Actuaries, following a career in investment banking, insurance, asset management and the petrochemical industry. He co-founded European Union initiatives on high performance computing and big data in finance, and co-authored High-performance computing in finance and Tercentenary essays on the philosophy and science of Leibniz.  Erik holds a master of business administration from the London Business School and as chemical engineer from Universiteit Gent.

    Richard Berner

    Clinical professor of finance, co-director, the Volatility and Risk Institute

    NYU Stern School of Business

    Professor Berner served as the first director of the Office of Financial Research (OFR) from 2013 until 2017. The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 established the OFR to support the Financial Stability Oversight Council, the Council’s member organizations and the public. The OFR’s mission is to promote financial stability by delivering high-quality financial data, standards and analysis.

    He was counselor to the Secretary of the Treasury from April 2011 to 2013. His principal responsibilities included advising the Secretary on financial and regulatory issues and starting up the Office of Financial Research.

    Professor Berner was a managing director, chief US economist at Morgan Stanley from 1999 to 2011 and co-head of Global Economics from 2008 to 2011.

    He was executive vice president and chief economist at Mellon Bank, and a member of Mellon's Senior Management Committee (1992-99). Previously, he served as a principal and senior economist for Morgan Stanley, as a director and senior economist for Salomon Brothers (1985-91), as economist for Morgan Guaranty Trust Company (1982-85) and as director of the Washington, DC, office of Wharton Econometrics (1980-82).

    Professor Berner served on the research staff of the Federal Reserve in Washington, where he co-directed the Fed’s model-based forecast and was a member of the team that developed the Fed’s first multi-country model used for international policy analysis (1972-80). He has been an adjunct professor of economics at Carnegie-Mellon University and at George Washington University.

    He is an advisor to FinRegLab, an innovation center that tests new technologies and data to inform public policy and promote a responsible and inclusive financial marketplace. He is a member of the Milken Fintech initiative, led by former OCC head Tom Curry and former Treasury official Melissa Koide. He is a senior advisor to MacroPolicy Perspectives, an economic consulting firm. He is a member of the Board of Advisors of HData, which helps data companies involved in RegTech and Legal Tech solutions. He is a member of the IMF panel of experts for financial stability.

    Professor Berner has been a member of the Economic Advisory Panel of the Federal Reserve Bank of New York, a member of the Panel of Economic Advisers of the Congressional Budget Office, a member of the Executive Committee of the Board of Directors of the National Bureau of Economic Research, a member of the Advisory Committee of the Bureau of Economic Analysis, Department of Commerce, a member of the Board of Directors of the Penn Institute for Economic Research and a member of the Board of Advisors of Macroeconomic Advisers, LLC. He served as an associate for the Counterparty Risk Management Policy Group II. He is a Past President and Fellow of the National Association for Business Economics and is the past chair of the Economic Advisory Panel of the Bond Market Association. He is the winner of forecasting awards from Market News and the National Association for Business Economics, the 2007 recipient of the William Butler Award for Excellence in Business Economics and has been a member of Time’s Board of Economists.

    He received his bachelor’s degree magna cum laude in Economics from Harvard College in 1968, and his PhD in Economics from the University of Pennsylvania in 1976. He researched his dissertation under the supervision of Professor Lawrence Klein, and was funded by SSRC-Ford Foundation grants at both the University of Louvain, Belgium, and at the University of Bologna, Italy, from 1971-72.

    Antonello Russo

    Managing director

    BlackRock

    Antonello Russo is a director within BlackRock's risk and quantitative analysis group. He is responsible for the investment risk management of index strategies across Europe, the Middle East and Africa, spanning segregated mandates, commingled funds and the iShares exchange-traded fund range. Before joining BlackRock, Russo was head of risk for the investment management arm of Beazley, a Lloyds of London insurer. Prior to this, he worked for Deutsche Bank, where he was a director on the collateralised equity financing and prime brokerage sales desk, and before that a risk manager for fixed income. He holds an honour degree from Bocconi University in Milan, where he graduated in 1995 in monetary and financial economics.

     

    10:4511:15

    Networking refreshments break

    10:30 - 11:00

    11:1512:00

    Risk modelling in the new macro regime. Do current methods still apply in an inflation and rate rising regime?

    11:15 - 12:00

    • Lack of diversification, how do you addapt as asset allocator?
    • How to survive and thrive in a word where volatility is much higher than anytime in the last 40 years?
    • Macro factor exposure and how can you better protect yourself?
    • Transforming data into results: optimising performance and managing risk
    Alain Robert-Dautun

    Head of risk management

    Sycomore Asset Management

    Alain Robert-Dautun has over 20 years of experience in the financial markets and asset management, including in hedge funds investment and risk management. Before joining Sycomore Asset Management in 2006 as head of risk management, he was senior investment analyst and member of the investment team at Allianz Alternative Asset Management, before which, he was portfolio manager for a long short equity fund for CPR Asset Management. Previously, Robert-Dautun has served as head of new products development for JP Morgan, head of asset allocation for State Street Global Advisors and quantitative analyst for Sinopia Asset Management. He holds a master's degree in statistics from the Paris Institute of Statistics, is a CFA charterholder and is member of the Institute of Actuaries. Robert-Dautun is a member of the risk commission for the French Asset Management Association.

     

    Renato Zaffuto

    Global chief investment officer

    Fideuram Investments

    Renato Zaffuto

    Head of Investment Solutions

    Fideuram Asset Management

    Managing Director at Fideuram Asset Management UK since March 2020.

    Chief Investment Officer at Fideuram Investments from 2016 to 2020.Responsible for equites at Fideuram Asset Management Ireland from 2014 to April 2016.

    Previously he held senior positions at ABN AMRO Asset Management SGR, Banca MPS, Capitalgest SGR (Gruppo UBI), IMI-Fideuram Asset Management and Unicredit.

    Graduated with honours in Economics and Business Administration from Pavia University, where he also earned a Masters Degree in Finance and Control. He is Chartered Accountant, Financial Auditor and registered with the Register of Financial Advisors.

    Sanne de Boer

    Director of quantitative equity research

    Voya Investment Management

    Sanne de Boer is director of Quantitative Equity Research at Voya Investment Management responsible for overseeing the firm’s quantitative equity research agenda. Prior to joining the firm, he was a senior research analyst for quantitative strategies for Invesco. Previously, he was a research analyst for global quantitative equities at QS Investors as well as ING Investment Management, Voya’s predecessor firm. Sanne’s research has been published in the Journal of Asset Management, the Journal of Index Investing, and the Journal of Investing. He received a Ph.D. in Operations Research from the Massachusetts Institute of Technology and an M.S. in Mathematics and an M.A. in Econometrics cum laude from the Vrije Universiteit Amsterdam. He holds the Chartered Financial Analyst designation.

    12:0512:50

    Automation tools: how can asset managers and owners use technology to scale risk management processes?

    12:05 - 12:50

    • Effective validation methodologies in investment decision-making: rule based versus AI
    • Data infrastructure and what new processes can you create?
    • Increasing usage of machine learning in risk models: benefits versus risks
    • Alternative data: is it useful and how do you separate the noise from important information?
    • Digital assets and tokenisation: a new paradigm for instant settlement and 24/7 market liquidity?
    Julien Haye

    Global head of non-financial risk

    Fidelity International

    Julien Haye joined Fidelity International (FIL) in July 2017 as head of non-financial risk and has over twenty years’ experience in the financial industry. In his current role, he partners with FIL’s top management and board, leveraging risk insights to improve the firm’s operating model efficiency and product offering through effective risk management and culture, and to continuously improve the firm’s client outcome and journey. Haye joined Fidelity from DWS, where his role was global conduct officer and UK chief risk officer. He joined Deutsche Bank in 2012, where he held various positions in risk oversight and the Internal Capital Adequacy Assessment Process, before joining the three lines of defence programme as risk and control assessment lead. Haye has worked for several financial services institutions in treasury, risk, capital management, programme management and trading.

    Richard Bravery

    Managing director, risk and quantitative analysis

    BlackRock

    Richard Bravery, Managing Director, is a member of the BlackRocks Risk and Quantitative Analysis team. Since 2017 he has been the head of the EMEA Equity Risk team based in London where he is responsible for the investment risk management of the active equity strategies within the region. Prior to this he held roles within BlackRocks Behavioural Finance team and he also spent more than 10 years within BlackRock Solutions as the EMEA Head of the Financial Modelling Group, building risk models and analytics solutions, having started his career as a software engineer at Mercury Asset Management.

      
    Mr. Bravery holds an undergraduate degree in Medical Physics and a postgraduate degree in Information Technology from University College London.

    Jean-Marc Bonnefous

    Managing partner

    Tellurian Capital Management

    Mr. Jean-Marc Bonnefous is the founder and managing partner of Tellurian Capital, a London-based investment management firm focused on the digital assets and commodity sectors. Mr. Bonnefous has managed since 2007 a number of institutional funds and investment strategies. He is the investment manager for the Tellurian ExoAlpha Systematic Digital Asset fund, a long/short hedge fund strategy. Prior to launching Tellurian Capital, he was an investment banker at BNP Paribas from 1992 and 2006, based in New York and London, where he built and ran the Global Commodity Derivatives business. Mr Bonnefous is also an operating partner at Tioga Capital, a blockchain VC fund, a board member of Trakx.io, a digital assets marketplace, as well as an advisor in Finteum, a peer-to-peer FX liquidity marketplace.

     

    12:5014:00

    Networking lunch break

    12:30 - 13:30

    14:0014:45

    Rising concerns and higher interest rates: what to look at from a credit and liquidity risk perspective?

    14:00 - 14:45

    • Are processes fit to tackle the unique challenges of the market.
    • Raising interest rates: how is this time different than 30 years ago?
    • How low is inflation going to get?
    • Adjusting investment risk and trading strategy to be liquidity awar
    Himanshu Patel

    Head of risk management group, Europe

    Vanguard

    Himanshu Patel leads the risk management group in Europe, providing risk oversight of the investment management group through the design and governance of investment and operational risk management strategies. Prior to joining Vanguard, he spent five years at EY as a senior manager in regulation and risk, providing asset management firms with practical advice on improving conduct and control. Patel has extensive experience in investment risk and performance analysis spanning 15 years at Northern Trust, BlackRock, Credit Suisse and JP Morgan.

    14:5015:35

    Impact investing: how can investors generate beneficial environmental and social effects in addition to financial gains?

    14:50 - 15:35

    • How do you quantify the financial impact of climate risk in an accurate way?
    • What is the impact of a quick transition to a greener economy?
    • Creating a stable society: which metrics matter most to investing?
    • Public investing versus private investing. Where do people find meaning?
    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.

    Eoin Murray

    Head of investment

    Federated Hermes Limited

    Eoin is Head of Investment and a member of the Senior Management Team for Federated Hermes Limited based in London. Eoin joined in January 2015 with almost 30 years’ investment experience. Eoin leads the Investment Office, which is responsible to clients for the investment teams’ consistent delivery of responsible, risk-adjusted performance and adherence to the processes which earned them their ‘kitemarks’. He is also the Executive sponsor for Diversity, Equity & Inclusion. Eoin is a Freeman of the City of London, a Liveryman of the Worshipful Company of Blacksmiths, Past Master of the Guild of Investment Managers, and a Fellow of the RSA. He is a member of the Exmoor Search and Rescue team, a fully qualified Swift-water Rescue Instructor, a Powerboat Rescue Operator, a Flood Water Incident Manager, and a Member of the Institute of Search & Technical Rescue. Eoin earned an MA (Hons) in Economics and Law from the University of Edinburgh and an MBA from Warwick Business School. Additionally, he has a Certificate in Energy Innovation and Emerging Technologies from Stanford University, a Certificate in Inclusive Leadership through Behavioural Science from the LSE, and a Diploma in Specialist Rescue from Coventry University.  He is currently studying for a Masters in Sustainable Aquaculture at the University of St Andrews.

     

    Trevor Leydon

    Global chief risk officer

    Lombard Odier Investment Managers

    Trevor Leydon oversees Aviva Investors' portfolio construction and risk for multi-asset strategies, providing overarching quantitative discipline to the portfolio management process. This includes monitoring and providing risk parameters for individual portfolios and top level reporting to senior management. Prior to joining Aviva Investors, he was responsible for UK and Ireland risk control at UBS Global Asset Management. Leydon joined the industry working for HSBC's investment bank in risk before moving to Santander's global banking and market risk team. He holds a masters degree in accounting and finance from the University of Ulster, having graduated from Dublin Business School. He is also a fellow of the Association of Certified Chartered Accountants.

     

     

    15:3516:05

    Networking refreshments break

    10:30 - 11:00

    16:0516:50

    How is the investment industry adapting to the new hybrid model and what benefits can it bring? Is technology the answer?

    16:05 - 16:50

    • Digitalization of work and the new digital investment process: main challenges and opportunities
    • How to boost innovation and collaboration in a remote working enviroment?
    • Tools available and best practices, from culture and analysis to execution quality
    • How does the investment world adjust to the younger generation?
    Julien Haye

    Global head of non-financial risk

    Fidelity International

    Julien Haye joined Fidelity International (FIL) in July 2017 as head of non-financial risk and has over twenty years’ experience in the financial industry. In his current role, he partners with FIL’s top management and board, leveraging risk insights to improve the firm’s operating model efficiency and product offering through effective risk management and culture, and to continuously improve the firm’s client outcome and journey. Haye joined Fidelity from DWS, where his role was global conduct officer and UK chief risk officer. He joined Deutsche Bank in 2012, where he held various positions in risk oversight and the Internal Capital Adequacy Assessment Process, before joining the three lines of defence programme as risk and control assessment lead. Haye has worked for several financial services institutions in treasury, risk, capital management, programme management and trading.

    Richard Jones

    Head of investment risk analysis and senior expert risk manager

    AXA Investment Managers

    17:0017:30

    Main Stage | Risk Live

    17:00 - 17:30

    17:3019:00

    Networking gala

    17:30 - 19:00

    09:1009:30

    Fireside chat: FX global code of conduct -- the current state of play

    09:10 - 09:30

    Stephane Malrait

    Global head of market structure and innovation for financial markets

    ING Bank

    Stéphane Malrait is Managing Director, Global Head of Market Structure and Innovation for Financial Markets, at ING Bank. Stephane is responsible for following the market structure and industry challenges impacting the financial market industry. He is leading innovation activities internal to ING and also external partnerships and developments with Fintech companies. He actively contributes to industry working groups to represent ING Bank.

    Stéphane joined ING in 2015 to lead the bank e-commerce initiatives across all financial market products and to develop on the financial market group’s cross-asset eCommerce strategy. Before joining ING, Stephane spent eight years at Société Générale, where he was Global Head of FIC eCommerce, creating an eCommerce business covering credit, rates, money market, emerging market, and FX. Prior to this, Stéphane worked at JPMorgan Chase for ten years, serving in different roles in Global FX E-Commerce Business Management and cross-asset eCommerce technology and was based in London and New York.

    Stephane has a strong background in financial markets and understands the need for continued technological development to drive positive change in trading and market structure workflows. He is leading ING's Financial Market Innovation strategy and also working on the implementation of financial regulations that will impact the client trading activities and transform how the trading floor operates.

    Stephane is also a board member for several Fintech market initiatives and trading associations. Since 2005 he has been active with the ACI Financial Market Association - an international non-profit organisation that represents the interests of market professionals in foreign exchange and money markets. Here, he has chaired the ACI FX Committee, representing the views of professionals in the FX sector. He is also an active member of the ECB FX contact group working on the BIS Global FX code of conduct working groups.

    Lisa Dukes

    Co-founder of treasury consultant

    Dukes & King

    Lisa has over 15 years experience across senior roles spanning treasury, corporate finance & complex derivatives. More recently Lisa co-founded the corporate finance and risk management firm Dukes & King, putting this value driven expertise into practice for a greater number of corporates and funds. She is active in sharing corporate best practice in the application and development of value optimising risk management featuring in a number of global publications. Over the last few years in particular her focus has been structuring innovative new solutions, spanning the entire corporate finance spectrum. These multi-faceted derivatives and treasury solutions consider and balance the often competing factors to deliver the end-to-end solutions, many of which have won awards and high commendations. Lisa is also a member of the FX Joint Standing Committee chaired by the Bank of England and is the UK Representative to the Global FX Committee for the private sector.

    09:3010:00

    Opening panel: The last six months / the next six months

    09:30 - 10:00

    Amidst a backdrop of geopolitical crisis and volatility, the FX market has continued to evolve by embracing analytics and efficiency boosting technology as well as a fostering a continued interest in digital currencies. As the market evolves at an accelerated pace, what are market leaders anticipating over the next six months?

    • Audience votes on which predictions are most likely to happen
    David Page

    Head of macroeconomic research

    AXA Investment Managers

    David Page is head of macroeconomic research at AXA Investment Managers. He manages a global team of 10 economists and strategists, is a regular guest on Bloomberg TV and other global media. Page joined AXA Investment Managers in July 2014 as a senior economist to provide economics coverage on US and UK economies. He has written extensively on the US economy, covering elections, fundamental monetary policy debates and issues of fiscal stimulus. Before joining AXA Investment Managers, Page worked for four years at Lloyds Bank Commercial Banking as a senior economist, primarily covering the UK economy. During this time, he was twice voted the top forecaster in the region in 2011 and 2012 (and came third in 2013). Prior to this, Page worked for 10 years at Investec Bank as a global economist, primarily covering the UK and European economies. Before this, he spent five years in the Government Economic Service, initially working for the energy regulator before joining the UK Debt Management Office – an executive agency of HM Treasury – at its inception in 1998, considering issues of primary issuance for the UK gilt market. Page holds a masters of science degree in economics from the University of Warwick, UK and a bachelor's degree in Economics from the University of York.

     

    Hinrich Wilhelm Paul

    Global head of financial markets

    Commerzbank

    Hinrich Paul joined Commerzbank in 2010 starting his career in the inhouse consultancy of
    Commerzbank. After serving as Executive Assistant for the IB CEO Hinrich joined the trading
    desk of Commerzbank’s Treasury department and took over the local trading head for FX
    Germany thereafter. Since 2021 Hinrich is responsible for the global FX, IR and
    Commodities trading of Commerzbank.


    Hinrich holds a Master in Economics from the University of Tübingen.

    Francesco Pesole

    FX strategist

    ING

    Viraj Patel

    Senior strategist and partner

    Vanda research

    Viraj is a Senior Strategist and joined Vanda in 2020 from Arkera where he was Head of Macro & Geopolitics Research. Prior to this, Viraj worked as an FX Strategist at ING and had roles at Barclays Wealth and the Bank of England. Viraj graduated in Economics from the University of Cambridge and is a CFA charterholder.

    Arnob Biswas

    FX macro strategist

    SMBC Global Securities

    10:0010:30

    Presentations: Platforms, products, protocols

    10:00 - 10:30

    • Three FX trading venues discuss the changing face of multilateral trading
    • Which products will electronify next?
    • Will e-trading for forwards and swaps take off in 2023?Where and how will participants choose to interact?

    10:3011:00

    Networking coffee break and knowledge cafe

    10:30 - 11:00

    Grab a coffee and join one of our interactive and informal knowledge cafes. Located in front of the coffee station, these sessions are completely confidential and led by industry experts. 

    • Overcoming capital and margin challenges
    • Emerging markets

    11:0011:30

    Current state of play: electronification

    11:00 - 11:30

    • Navigating the complex landscape of FX trade execution: adoption of electronic execution: leveraging algos for maximum efficiency
    • Smart decision making – the voice trading point of view, what makes sense from an electronic trading point of view, where to differentiate within electronic trading and where do different protocols work?
    Asif Razaq

    Global head of FX algo execution

    BNP Paribas

    Asif Razaq is an experienced foreign exchange algo trader with over 15 years of experience developing electronic trading platforms. He has a masters of science degree in artificial intelligence (AI) and joined BNP Paribas from Citi, where he worked on various initiatives including e-FX pricing engines and algorithmic trading. Utilising his experience in AI, Razaq developed and launched Cortex iX, a cutting-edge FX algorithmic execution platform that has been highly acclaimed by clients and industry experts globally.

    Allan Guild

    Director

    Hilltop Walk Consulting

    11:3012:00

    Public vs private

    11:30 - 12:00

    • Market participants are increasingly sensitive to market impact, and increasingly wary of big, public order books
    • Is bilateral trading the answer? Can buy and sell-side firms replace multi-dealer venues with a collection of two-way liquidity streams?
    • Pros, cons and the prospects for these kind of venues

    12:0012:30

    How FX dealing desks are implementing tech to drive performance

    12:00 - 12:30

    • The emerging trends 
    • Key considerations when it comes to post-trade, compliance and reporting
    Bhupen Velani

    Global head, transactional FX trading

    Bank of America

    Myriam Sifaoui

    Global emerging chief operating officer - director

    Societe Generale Corporate and Investment Banking - SGCIB

     

     

    12:3013:00

    Generating alpha – leveraging strategies in trading and systemic investment to generate alpha in the current landscape

    12:30 - 13:00

    • The attraction to high volatility foreign exchange markets
    • Leveraging foreign exchange positions by using forward contracts
    • Approaches to generating alpha

    13:0014:00

    Networking lunch
    Including tech demos in the networking area

    13:00 - 14:00

    14:0014:40

    Optimized clearing: evolution and innovation

    14:00 - 14:40

    • How has clearing evolved over the past year?
    • Focus on NDF and FX option clearing volumes
    • The impact of UMR deadlines
    • The evolving role and relationship with counterparties
    • Overcoming challenges on liquidity for FX swaps and forwards
    Marcus Butt

    Managing director prime services

    NatWest Markets

    Prior to taking responsibility for FX Prime Services, Marcus was responsible for sales across Prime Brokerage, Futures & OTC Clearing and for the OTC Clearing product in EMEA.

    Before joining RBS, Marcus spend 17 years at UBS where he held a number of roles in Prime Services, Securities Lending and FX

    14:4015:20

    Tackling FX settlement challenges: the rise of risk

    14:40 - 15:20

    • Managing FX settlement risk - counterparty risk
    • SA-CCR and margin rules: implications and impact
    • New tools and technology - platforms to ease settlement rate

    15:2015:30

    Have your say: liquidity – deconstructing currencies to keep brokerages viable

    15:20 - 15:30

    15:3016:00

    Afternoon networking coffee break and knowledge cafes

    15:30 - 16:00

    16:0016:30

    AI, innovation and Forex

    16:00 - 16:30

    FX trading efficiencies are being driven by technology. How is AI and ML helping to streamline the trade lifecycle, generate alpha and mitigate risk?

    16:3017:00

    Closing keynote panel: the future of crypto trading and digital assets

    16:30 - 17:00

    As they crypto market rests in limbo, how are industry experts envisioning the future of crypto trading and digital assets?

    Itay Tuchman

    Former global head of foreign exchange, Citi

    Independent FX markets expert

    Nikita Fadeev

    Partner

    Fasanara Capital

    08:5009:00

    Risk Live Europe Welcome - main stage

    08:50 - 09:00

    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.

    09:0009:20

    Keynote address from a leading CRO

    09:00 - 09:20

    09:2009:40

    Keynote presentation from regulator

    09:20 - 09:40

    Update on regulatory frameworks for risk management

    09:4010:00

    Participants move to the ESG & Climate Risk Summit room

    09:40 - 10:00

    10:0010:30

    The current headwind for ESG investments and Net Zero goals

    10:00 - 10:30

    • Recession and economic downturn. How will this impact investors’ appetite for ESG investments, and companies’ net zero ambitions? Will it reduce the focus of corporations on climate and environmental goals? How could that impact the interplay between physical and transition risk?
    • On-going war between Russia and Ukraine and resulting energy crisis – impact on Europe’s decarbonisation agenda
    • Impact of high inflation and rising interest rates on green investments
    • How these events affect ESG and climate risk management strategies?
    Nasreen Kasenally

    Chief risk officer, asset management and sustainability, Emea

    UBS

    Nasreen Kasenally is the global chief risk officer and head of sustainability risk at UBS Asset Management. She is a senior risk professional with over 20 years of experience mostly at UBS covering investment banking, asset and wealth management. In her role as chief risk officer, Kasenally is responsible for all financial risks within UBS Asset Management globally and in all the business divisions of UBS Group in Europe, the Middle East and Africa. Within sustainability, she has the oversight of the risks across the group and leads the engagement and positioning to deliver the firm’s purpose and values with regards to sustainability.

    10:3011:15

    Navigating regulatory and reporting requirements and expectations

    10:30 - 11:00

    Disclosure requirements

    • Challenge of efficiently managing multiple disclosure requirements for large multi-jurisdictional financial institutions given increasing divergence of requirements
    • Sustainable Finance Disclosure Regulation (SFDR) and the requirements for investment funds that fall within the scope of Article 9 known as “Dark Green” funds.
    • Stress testing requirements
    • How can standard developers help to achieve harmonisation?
    • Speed and direction of travel for climate and environmental regulation
      Mark Manning

      Sustainable finance and stewardship, lead

      FCA

      Mark Manning leads the FCA’s policy work on sustainable finance and investor stewardship. In this role, he is responsible for several initiatives, including the FCA’s implementation of the TCFD’s recommendations and the FCA’s work with IOSCO on corporate reporting standards on sustainability. Prior to joining the FCA in 2018, Mark spent fifteen years as a central banker with the Bank of England (BoE) and the Reserve Bank of Australia (RBA). He held a number of senior roles, with a particular focus on policy, research and supervision in the field of financial market infrastructures (FMIs). Before joining the official sector, Mark spent several years as a fixed income and currency fund manager with Kleinwort Benson Investment Management and Goldman Sachs Asset Management. Mark holds Master’s degrees in Economics and Finance, from University College London and London Business School, respectively.

      Krista Tukiainen

      Founder and CCO, ClimateAligned and senior advisor

      Climate Bonds Initiative

      Jonathan Walker

      Sustainable Investment Manager

      Gresham House

      Jonathan is Associate Director, Sustainable Investment at Gresham House, a specialist alternative asset manager with £7.8bn AUM. Jonathan has a particular focus on real assets, including sustainable infrastructure and housing and is involved in all aspects of sustainable investment, from impact measurement, to reporting, to tackling UK and European sustainable finance regulation.

      Before joining Gresham House, Jonathan worked at Morgan Stanley for six years, most recently as a research analyst within the Sustainability Research team ranked number one for SRI research in the European Institutional Investor survey. His primary areas of focus included cross-sector sustainability research and European sustainable finance regulation, as well as working closely with the firm’s institutional clients on incorporating ESG into their investment processes.

      Jonathan holds a first-class degree in English Literature from the University of Bristol and is a CFA charterholder.

      11:1511:45

      Networking refreshments break

      10:30 - 11:00

      11:4512:30

      INVESTORS DEBATE: Keys to designing green portfolios

      11:30 - 12:15

      Investment strategies / Assets allocation

      • What is the right investment approach when designing a portfolio that would not hurt the environment and not contribute to climate change?
      • Green bonds, green derivatives – what else is available?
      • The role fixed income could play in ESG investing

      Divest or not divest: that is the question

      • Is stopping investing in oil, gas and electricity companies - that require enormous investment for transition - the right thing to do?
      • When to divest and when to work with companies to help them decarbonise?
      • How to pick the companies that will be the leaders in low carbon economy?

      Measuring

      • How to measure your portfolio impact?
      • Measuring and mapping physical climate risk into the future

      S and G

      • Focusing in Social and Governance in the ESG equation
        Mili Fomicov

        Co-director, Centre for Climate Finance and Investment

        Imperial College London

         

        Mili Fomicov is a researcher at the Centre for Climate Finance and Investment, Imperial College London. Before joining Imperial College, she was a Director and Portfolio Manager in the Multi-Asset Strategies team at BlackRock. Previously, Mili was a Portfolio Manager on J.P. Morgan's CIO team, and managed US and Japan equity funds at Barclays. She started her career at AllianceBernstein in the US. She is a graduate of the University of Chicago Booth School of Business, where she received an MBA in Finance, Economics, Econometrics and Statistics

        Ulf Erlandsson

        Founder/ CEO

        AFII

        Dr Ulf Erlandsson is CEO and Founder of the Anthropocene Fixed Income Institute (AFII), the research organisation empowering fixed income to drive the climate transition.

        Launched in 2020, AFII provides fixed income investors with the insights and tools they need to align their portfolios with ambitious climate targets. He previously ran global credit, SSAs and a total return alpha strategy at Swedish state pension fund, AP4. Prior to that, he was a quantitative strategist at Barclays Capital.

        Ulf’s publication record covers a spectrum of credit and climate pieces such as “Credit alpha and CO2 reduction”, “High-frequency CDS index trading”, “Carbon negative leveraged investment strategies”, “An option pricing approach for sustainability-linked bonds” and books such as “Systematic CDS index trading handbook”, “CDS curve trading handbook” and “Empirical analysis of the credit cycle.”

        Dr Erlandsson was awarded Environmental Finance’s Bond Personality of the Year 2022 as well as CFA Sweden’s ESG Prize 2021. He earned his Ph.D. in Economics from Lund University.

        Isobel Edwards

        Executive Director/Vice President - Green, Social and Impact Bonds

        Goldman Sachs Asset Management

        12:3013:00

        PANEL DISCUSSION: Analytics/ data/ ways of measuring climate risk and ESG.

        12:15 - 12:50

        • Increasing sophistication of available climate change risk metrics: what has already been achieved and what has yet to be improved?
        • With many different companies providing ESG and climate risk data and ratings is there a need for more unified and harmonised methodology?  
        • Particular challenge of lack of data when measuring ESG/Sustainability score of  unlisted assets and illiquid portfolios: what strategies can companies use when assessing these assets?
        • Climate risk data / methodology: buy or develop in-house?
        • How can AI and ML models help handle climate data?
        Victoria Collins

        Global head of climate risk & ESG

        Nomura

        Victoria’s career spans over 25 years working in financial institutions, in trading, finance and risk roles, predominately in Risk Management. She has been with Nomura for ten years, focused on enterprise-wide risk management. She was appointed Global Head of Climate Risk & ESG three years ago. She is responsible for establishing and managing the global risk management framework for Climate Risk and ESG, and for ensuring risk management is aligned to the firm’s Sustainability objectives, such as Net Zero.

        Nasreen Kasenally

        Chief risk officer, asset management and sustainability, Emea

        UBS

        Nasreen Kasenally is the global chief risk officer and head of sustainability risk at UBS Asset Management. She is a senior risk professional with over 20 years of experience mostly at UBS covering investment banking, asset and wealth management. In her role as chief risk officer, Kasenally is responsible for all financial risks within UBS Asset Management globally and in all the business divisions of UBS Group in Europe, the Middle East and Africa. Within sustainability, she has the oversight of the risks across the group and leads the engagement and positioning to deliver the firm’s purpose and values with regards to sustainability.

        Matthew Wright

        Research Analyst

        Impax Asset Management

        Matthew works in Impax’s Listed Equities team, covering companies across the water value chain. He is also a specialist in physical climate risk research and impact, as they apply to Impax’s investments.
         
        Matthew previously worked as an analyst in both a management consulting firm and in his first role as a carbon data analyst for an investment data analytics company, formerly known as Engaged Tracking.
         
        He graduated from Imperial College London after gaining a master’s degree in Environmental Technology with a focus on environmental economics and policy. Matthew also has a bachelor’s degree in Geophysics from Imperial College London.

        Andres Guerra Londoño

        Strategy Director

        Clarity AI

        Andres currently works in global business strategy at Clarity AI. Previously, he was a Senior Vice President in the Energy team at London-based investment bank Hannam & Partners, where he advised companies and investors in M&A transactions and capital raises globally. He has over ten years of experience in energy and finance.

        12:5014:00

        Networking & lunch Including tech demos

        12:50 - 14:00

        14:0014:40

        EXPERT SESSION: Climate risk models and metrics – what works and what does not work?

        14:00 - 14:40

        • ESG/Climate Stress Testing. The challenge of meeting ESG/ climate stress testing requirements. How to address methodology challenges such as extended time horizons and extensive use of proxies and assumptions in ESG stress testing.  
        • Climate VaR – how to measure the impact of climate risk in assets valuations?

        14:4015:10

        ROUNDTABLE DISCUSSION: Practical implementation and delivering on climate promises in your organisation

        14:40 - 15:10

        Many organisations have put forward ambitious ESG/ Climate risk goals without necessarily being able to fully measure them. But how to actually deliver on their ambitious goals? Climate risk/ sustainability leaders from a number of financial institutions will share their practical perspective.

        • What concrete action points are needed to achieve a company’s Net Zero  goal by 2050?
        • The importance of engaging and working with clients
        • Using Transition Finance as a key to getting to the Net Zero targets
          Margot von Aesch

          Head of Sustainable Investment Management

          Schroders

          Margot von Aesch is Head of Sustainable Investment Management at Schroders, looking after the sustainable research, models and integration teams. She joined Schroders in 2021 and is based in London.

          Between 2014 and 2021, Margot occupied a number of different roles at Redburn, an independent equity research house where she became a partner in 2018. Her roles included Co-Head of ESG, Head of Sales and Income Specialist. Prior to Redburn, Margot worked in Equity Sales for institutions such as BNP Paribas, Natixis and Société Générale, in Paris and London. She started her financial career with Cazenove in 2000.

          Margot sits on the Board of the Sevenoaks Suns Basketball Club. She is also a member of the Senior Business Leaders Group of Women in Banking and Finance.

          Margot holds a BSc (Hons) in Economics from the School of Oriental and African Studies.

          Ella Hoxha

          Senior Investment Manager

          Pictet Asset Management

          15:1015:30

          Addressing capital requirements over climate risk

          15:10 - 15:30

          • How to incorporate climate risk into capital? Challenges and ways to overcome them.
          • Is capital actually the right lever for climate risk? What are other approaches?

          15:3016:00

          Networking refreshments break

          10:30 - 11:00

          16:0016:25

          Special focus presentation: “Green swans”

          16:00 - 16:25

          16:2516:45

          Looking beyond climate

          16:25 - 16:45

          Focus on biodiversity - how financial institutions can integrate climate and nature

          Dr. Nina Seega

          Director, Center for sustainable finance

          Cambridge Institute for Sustainability Leadership (CISL)

          Dr Nina Seega is the Director of the Centre for Sustainable Finance at the Cambridge Institute for Sustainability Leadership (CISL). The Centre incorporates CISL’s finance industry groups to provide the insight and cooperation needed to advance policy and market practices including; the Banking Environment Initiative (created in 2010 by CEOs of some of the world’s largest banks) ClimateWise (set up in 2007 for global insurance), and the Investment Leaders Group (leading investment managers and asset owners with over $ 14 trillion under management). Nina has worked with De Nederlandsche Bank (DNB) on the financial impact of disruptive energy transition, collaborated with the South African National Treasury and Banco de Mexico on embedding environmental scenarios into financial risk frameworks, and was the knowledge partner for the G20 Green Finance Study Group in 2016 and 2017. Previously, Nina was the Head of the London Traded Products Desk for Dresdner Kleinwort. In addition to her role at University of Cambridge Institute for Sustainability Leadership, Nina is a member of the Sustainable Finance Advisory Panel at the Monetary Authority of Singapore, Strategic Advisory Board on Sustainable Finance at the British Standards Institute, the Sustainable Finance Scientific Council at S&P Ratings, and the Board of Directors at the Global Research Alliance for Sustainable Finance.

          Nina is driven by mainstreaming environmental and social considerations into daily financial and corporate decision making. Previously a risk manager with leadership experience in traded credit risk management. Nina has defended her PhD on strategic practices that drive resilience in finance at the University of Cambridge. She also holds an MPhil in Innovation, Strategy and Organisation from University of Cambridge and an MSc in Information Systems from the London School of Economics.

          16:4517:00

          Participants move to the room with the main stage

          16:45 - 17:00

          17:0017:30

          Concluding keynote by a risk thought leader - main stage
          The future of risk management

          17:00 - 17:30

          17:3019:00

          Networking gala

          17:30 - 19:00