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Agenda
Agenda
Risk Live North America agenda
08:00 – 09:00
Registration and refreshments
09:00 – 09:10
Opening remarks
Kris Devasabai is the editor-in-chief for Risk.net. Previously, he was bureau head, US of Risk magazine and now he manages the editorial teams in APAC, EU and US. Prior to joining Risk, he covered hedge funds, asset management, cross-border investing and law for several publications. Kris holds a bachelor’s degree in law and government from the University of Manchester, and he completed his legal training at the Inns of Court School of Law in London. He was called to the bar of England and Wales in 2003.
09:10 – 09:30
From survive to thrive: a chief risk officer's (CRO's) keynote
Keynote presentation
- Shifts in bank regulation and supervision following the collapse of Silicon Valley Bank (SVB)
- Experience and lessons learned
- Looking ahead to 2024
Malcolm Griggs is the Chief Risk Officer of Citizens. He joined Citizens in 2014 as Executive Vice President and Chief Credit Officer. Griggs serves on the Executive Committee and as CRO is responsible for defining and overseeing how we manage credit, market, operational, regulatory, compliance, and model risk at Citizens and for leading the 2nd line of defense risk function. Griggs has over 30 years of risk and business line experience.
He joined Citizens from Citigroup where he was head of business risk and controls for the U.S. commercial and consumer banking businesses. Prior to this, he held senior risk management and business line roles at firms such as Morgan Stanley and Wachovia. He was also the first CRO at Fifth Third Bank. Griggs is active in industry organizations and is a past chairman of the board of the Risk Management Association (RMA). He currently serves as the President of the board of the Rhode Island Philharmonic Orchestra and Music School. He earned both his undergraduate and J.D. degrees from the University of North Carolina at Chapel Hill.
09:30 – 10:10
Restoring trust in the US banking system
Panel discussion
- What impact might regulatory and supervisory changes have on the US banking system?
- What is required to restore depositor confidence?
- Is it possible to improve transparency?
- What are the challenges facing medium-sized banks in terms of capital and regulatory requirements?
SP Kothari
Professor of accounting and finance, Gordon Y Billard professor of accounting and finance
MIT Sloan School of Management
Massachusetts Institute of Technology, Sloan School of Management 1997 – Present
US Securities and Exchange Commission, Washington, D.C. 2019- 2021
Barclays Bank 2008 – 2009 (Global Head of Equity Research, Barclays Global Investors)
Harvard University, Harvard Business School 2005 – 2006
University of Rochester, Simon School of Business 1986 – 1998
Kris Devasabai is the editor-in-chief for Risk.net. Previously, he was bureau head, US of Risk magazine and now he manages the editorial teams in APAC, EU and US. Prior to joining Risk, he covered hedge funds, asset management, cross-border investing and law for several publications. Kris holds a bachelor’s degree in law and government from the University of Manchester, and he completed his legal training at the Inns of Court School of Law in London. He was called to the bar of England and Wales in 2003.
10:10 – 10:30
A CRO's perspective on technological transformation
Fireside chat
Kris Devasabai is the editor-in-chief for Risk.net. Previously, he was bureau head, US of Risk magazine and now he manages the editorial teams in APAC, EU and US. Prior to joining Risk, he covered hedge funds, asset management, cross-border investing and law for several publications. Kris holds a bachelor’s degree in law and government from the University of Manchester, and he completed his legal training at the Inns of Court School of Law in London. He was called to the bar of England and Wales in 2003.
Vishal Thakkar is Chief Risk Officer at OCC, the world's largest equity derivatives clearing organization.
In this role, Mr. Thakkar is responsible for implementing OCC's Risk Management Strategy, which includes Enterprise Risk Management, Third Party Risk Management, Model Risk Management, Strategic Risk, Model Validation and Model Risk Governance areas.
Previously, Mr. Thakkar led the Enterprise Risk Management function for OCC and was responsible for designing a sound risk management framework with processes and systems to conduct risk assessments, support risk management decisions and prepare the company’s risk profile. He previously served as First Vice President of Financial Risk Management (FRM), Risk Advisory Services where under his leadership, FRM defined a transformation roadmap and significantly strengthened the risk and control environment to enhance process effectiveness and meet regulatory requirements. Mr. Thakkar first joined OCC in 2016 as First Vice President, Internal Audit and was responsible for leading Technology and Operations Audits for the company.
From 2004 to 2016, Vishal held internal audit and risk management roles for Southern Company Gas, most recently serving as Director Internal Audit, Corporate/Shared Services and Regulated Operations and prior to that as Senior Manager of Risk Management. Before joining Southern Company Gas, Vishal served in a variety of consulting, operations, and technology roles at Accenture and MCI.
Vishal earned both a bachelor’s degree in information systems and an MBA in entrepreneurship from DePaul University. A member of the Institute of Internal Auditors and ISACA, Vishal has been a regular speaker at industry events. He is a Certified Information Systems Auditor and a Certified Fraud Examiner.
10:30 – 11:15
Morning networking break
11:15 – 12:00
Leveraging data, technology and generative artificial intelligence (AI)
Panel discussion
- Capabilities and priorities in legacy technology – what does the future hold?
- Where organisations are investing
- Rewards: using data and analytics for improved decision-making (predicting, modelling, preparing, and mitigating risk)
- Generative AI: safeguards and controls
Kim Jaffee-Prado
Chief information officer, US capital markets, investment and corporate banking, and office of the chief operating officer
BMO Capital Markets
Kim joined BMO in August 2021 from RBC where she was the Global Head of the Client, Banking & Digital Channels Technology group across Capital Markets. Kim developed and implemented a comprehensive client data strategy adopted by Capital Markets, sunset legacy applications and united the global salesforce under a single CRM instance. Collecting and connecting client touchpoints with external data sets allowed her team to proactively source opportunities and recommendations using advanced AI and machine learning to deepen client relationships and increase wallet share. Kim held multiple roles at RBC over 15 years supporting the business in various capacities from running Global Fixed Income Production Services to Head of Fixed Income Sales and Credit Trading technology.
Prior to joining RBC, Kim ran Front Office technology at Mizuho as well as the API Connectivity Development team at ICAP and was part of the initial launch of BrokerTec. She has also held multiple positions across the street with Kidder Peabody, Deutsche Bank and Chase Securities. Kim received a BA from Stockton University in accounting.
Jean Carlos is an accomplished economist and seasoned banker with over 20 years of global investment banking experience. Currently serving as the Executive Director and US Head of Risk Appetite & Limits and Valuation at Santander Corporate Investment Banking, He leads a team responsible for governance, admission, and risk control of capital markets activity in the US.
Jean Carlos possesses a wealth of expertise in technical, fundamental, markets, and risk knowledge, including ESG and impact investment approaches. Throughout his career, Jean Carlos has been instrumental in constructing robust capabilities and risk frameworks, geared towards facilitating multi-assets class activities within capital markets, with a focus on Latin America and the US.
Jean Carlos earned a Master in Business Administration from MIT, with Business Analytics and Sustainability certifications. He also holds a Bachelor in Economics and a Master in Banking and Financial Markets. Beyond finance, he has contributed to sustainability projects with positive social, environmental, and financial impact.
Sven Sandow is the Global Head of Credit and Operational Risk Analytics at Morgan Stanley. During his 20-year career in the financial industry, Sven has worked in various quantitative modeling, risk management, and capital management capacities. Prior to Morgan Stanley, he worked at Merrill Lynch and Standard & Poor’s. Before he joined the financial industry, Sven worked as a physicist at the Virginia Polytechnic Institute and the Weizmann Institute of Science. He has been an active researcher in physics, finance, and machine learning. His research has been published in academic journals, and he coauthored a book on learning from data. Sven holds a Ph.D. in physics from the Martin-Luther-University Halle-Wittenberg in Germany.
Brian Saldeen is the Senior Product Manager of Risk & Margin at Sterling Trading Tech. He holds over 20 years of industry experience and started his career at Susquehanna Investment Group, initially trading equity options on the floor of the CBOE when the option exchanges were still open outcry. Brian traded convertible bonds in Europe, equity options from an upstairs trading desk, and eventually utilizing his own capital. Most recently he’s worked in both client management and product management roles with E*Trade, Morgan Stanley and Apex Fintech Solution. His varied experience in trading and product management gives him a unique and extensive knowledge of risk management and margin applications.
12:00 – 12:20
Enhancing risk management through the effective use of cloud and AI
Presentation
- Challenges in adapting to changing technology
- How cloud technology offers scalability and a competitive edge
- The latest applications of AI for risk management
Victoria Chan serves as a Business Development Analyst for North America at ActiveViam. Throughout her 15- year tenure in the career in the financial services and fintech sectors, she has held diverse positions in capital markets, focusing on trade operations, data services, and project management within the clearing and collateral management domain. Vicky's deep knowledge and experience in technology and the financial markets allows her to bring insights into client requirements and to tailor software solutions accordingly. She holds a dual bachelor’s degree in financial economics and psychology from Binghamton University. Vicky resides in Brooklyn, NY with her husband and two children and in her free time when she’s not piecing broken toys back together with tape and glue, she likes to travel, go on hikes, practice yoga and capoeira, or create her own chaos in the kitchen.
12:20 – 12:50
Keeping pace with changes in model risk management (MRM)
Panel discussion
- How leading firms are achieving transformational change and capability enhancement in MRM
- Challenges facing financial institutions
- How the rapid evolution of technology is changing MRM
- Moving beyond compliance to gain a competitive advantage
Mike is a lead model development and analytics expert across a range of risk and product types, having a focus on wholesale credit risk methodology, regulatory solutions and model validation. Currently Mike is an SVP and Lead Quantitative Analytics & Modeling Expert at PNC Financial Services Group, Model Development Department, where he leads 1st Line Wholesale Model validation. Mike has 25 years of experience in financial risk modeling and analytics, having worked 5 years at Accenture and Big 4 consulting as a Director in the risk modeling and analytics practice, with a focus on regulatory solutions; 7 years as a Senior Economist and Lead Modeling Expert at the OCC, focusing on ERM and Model Risk; and 8 years in banking as a Senior Vice-President at JPMC and SMBC, developing wholesale credit risk and economic capital models. Skills include model development & validation for CCAR, PPNR, CECL, credit / market / operational risk; Basel and ICAAP; model risk management; financial regulation; advanced statistical and optimization methodologies. Mike holds a doctorate in Mathematical Finance from the City University of New York / Zicklin School of Business, and is a Chartered Financial Analyst.
Steve Boras is the Head of Model Risk Management & Validation at Citizens Bank in Boston, focused on managing the model risk of the bank via validation of models, performance management and monitoring of outcomes, and serving as a sounding board for new and emerging modeling techniques and their respective appropriateness. Since joining Citizens in 2015, Steve has led several risk analytics functions, most recently heading the Risk Architecture Center of Excellence (covering loss forecasting model development for CCAR/DFAST and CECL, and PD, LGD, and EAD modeling for wholesale), as well as anti-money laundering modeling, macroeconomic scenario generation, and Data Science. Steve also holds leadership roles in enterprise risk, ESG and Inflation/Stagflation scenario analysis, and artificial intelligence and machine learning governance.
12:50 – 14:00
Networking lunch
13:00 – 13:45
Lunch roundtable: Capturing data for risk management – the challenges and how to address them
Held under the Chatham House Rule and by invitation only
Against a backdrop of high market volatility and rapid technological development, risk management systems and processes in financial institutions are changing and evolving. How do risk managers assess their current infrastructure? What are the main challenges and pain points for the buy and the sell sides in capturing the necessary data? How are they addressing those challenges?
- Real-time data for risk managers
- The potential of cloud computing for risk management and associated challenges
- Stress testing: practical aspects
- Digital transformation
- Data management
- Lack of resources and resource allocation
Ram Meenakshisundaram, MSCS, MBA, CQF, CAIA, MCSI is the Senior Vice President of Quantitative Services at KWA Analytics where he manages the development of analytical and quantitative solutions. He has over three decades of client experience working on financial projects in various industries and asset classes including energy, commodity, fixed income, FX, and equity.
Before joining KWA, Ram was the Principal Architect/Director at ION Group/OpenLink where he managed the Endur/Findur product development in Power and Capital Market sectors. Prior to joining OpenLink, Ram has worked at various investment firms and banks including BlackRock, SBC Warbug Dillion Reade, and Deutsche Bank on government securities, repurchase agreements, FX and equity derivatives.
Ram is on the advisory board of Hofstra University Zarb School of Business in Finance and is an Associate Professor in Finance at Hofstra University. He received a B.S. and M.S. in Computer Science with honors from Pace University and NYU Tandon School of Engineering. Ram earned his MBA in Finance from Hofstra University and the Certified Quantitative Finance designation from Fitch Learning. He is a Chartered Alternative Investment Analyst (CAIA) charter-holder and a member of the Chartered Institute for Securities & Investment.
Sven Sandow is the Global Head of Credit and Operational Risk Analytics at Morgan Stanley. During his 20-year career in the financial industry, Sven has worked in various quantitative modeling, risk management, and capital management capacities. Prior to Morgan Stanley, he worked at Merrill Lynch and Standard & Poor’s. Before he joined the financial industry, Sven worked as a physicist at the Virginia Polytechnic Institute and the Weizmann Institute of Science. He has been an active researcher in physics, finance, and machine learning. His research has been published in academic journals, and he coauthored a book on learning from data. Sven holds a Ph.D. in physics from the Martin-Luther-University Halle-Wittenberg in Germany.
Jean Carlos is an accomplished economist and seasoned banker with over 20 years of global investment banking experience. Currently serving as the Executive Director and US Head of Risk Appetite & Limits and Valuation at Santander Corporate Investment Banking, He leads a team responsible for governance, admission, and risk control of capital markets activity in the US.
Jean Carlos possesses a wealth of expertise in technical, fundamental, markets, and risk knowledge, including ESG and impact investment approaches. Throughout his career, Jean Carlos has been instrumental in constructing robust capabilities and risk frameworks, geared towards facilitating multi-assets class activities within capital markets, with a focus on Latin America and the US.
Jean Carlos earned a Master in Business Administration from MIT, with Business Analytics and Sustainability certifications. He also holds a Bachelor in Economics and a Master in Banking and Financial Markets. Beyond finance, he has contributed to sustainability projects with positive social, environmental, and financial impact.
14:00 – 14:40
The evolution of trading risk and the return to volatility
Panel discussion
- From crisis to crisis: the Covid-19 pandemic, inflation, energy crises. How can risk managers continue to adapt?
- How leading firms are harnessing technology to assess, model, monitor and mitigate risk in trading books
- The role of data in assessing trading risk
Mark Findlay
Managing director and global head of financial risk analytics
S&P Global Market Intelligence
Mark Findlay is Global Head of Financial Risk Analytics at S&P Global Market Intelligence, which provides award winning products and solutions to financial institutions to measure and manage their counterparty credit risk, market risk, regulatory risk capital, derivative valuation adjustments as well as custom on demand risk services. Using the latest analytics and technology such as a fully vectorized pricing library, Machine Learning and a Big Data stack for scalability, the products and solutions are also available in the cloud and are used by the largest tier-one banks to smaller niche firms.
Prior to joining S&P Global, Mark worked as a Partner at TLG, a specialist risk management consultancy in London. Previously, Mark held Chief Operating Officer positions in financial markets trading and quantitative risk management roles at ABN AMRO, UBS and Bank of America Merrill Lynch. He was also the Capital Management Program Director of global markets at HSBC.
Mark holds an MBA from CASS Business School, University of London, UK.
Ash Majid is Managing Director and Chief Risk Officer for SMBC Capital Markets, Inc. & SMBC Nikko Securities America, Inc. wholly owned subsidiaries of SMBC Americas Holdings, Inc. In his current role he oversees teams responsible for managing the risk from the two subsidiaries within the broader America’s Division risk management team. Prior to joining SMBC Capital Markets, Ash worked at Ernst and Young, LLP within their Quantitative Advisory Services and SunTrust Banks, Inc. with oversight of their derivatives trading desks' market risk. Ash holds a Doctorate degree in Electrical and Computer Engineering and a Master's degree in Quantitative and Computational Finance from Georgia Institute of Technology. Additionally, Ash holds FINRA Series 7 & 24 licenses.
Wei Zhu is a Managing Director and Global Head the Market Risk Analytics in Citi. After joining Citi in 2001, he has worked in various risk modeling areas including market risk, counterparty credit risk, and risk capital. Mr. Zhu has a Ph.D. in Physics from New York University and is a CFA charter holder since 2004.
14:40 – 15:00
How technology is levelling the regulatory and risk playing field for banks
Presentation
Against a backdrop of surging interest rates, increased volatility and widening credit spreads, it has become imperative for institutions to measure and manage risk on a more granular and frequent basis. Coupled with an ever-evolving regulatory landscape with a push towards risk-sensitive calculations for market and counterparty risk capital, calculations are surging in complexity and therefore cost. How can risk managers find faster and more cost-efficient means of measuring market and counterparty risk?
Key areas covered:
- How cloud technology is speeding up expected ahortfall and XVA calculations
- The impact of AD greeks on XVA sensitivity calculations
- Relevance to the Fundamental Review of the Trading Book (FRTB) and other regulations
Mayank is Head of Risk Analytics and Product Management at Numerix, where he leads the market risk and counterparty credit risk teams to deliver best-in-breed analytics for clients.
In his previous roles at Numerix, he spearheaded the development of the firm's regulatory modules as a product manager, covering FRTB and SIMM, in addition to working in financial engineering and model validation roles.
Mayank holds a Masters degree in Mathematical Finance from Rutgers University and a Bachelors degree in Computer Science from the University of Michigan.
He also has a Financial Risk Manager (FRM) certification from the Global Association of Risk Professionals (GARP).
15:00 – 15:30
Risk management deep-dive discussions
Interactive roundtables
- The impact of AI and machine learning on the future of risk management
- The future of trading risk
- Credit risk: assessing, surveying and monitoring in a streamlined way
- Shifts in bank regulation and supervision post-SVB: practical takeaways
- Cyber threat assessments and protecting firms in an evolving threat landscape
- Super-charging XVA sensitivity calculations with AD greeks
Mayank is Head of Risk Analytics and Product Management at Numerix, where he leads the market risk and counterparty credit risk teams to deliver best-in-breed analytics for clients.
In his previous roles at Numerix, he spearheaded the development of the firm's regulatory modules as a product manager, covering FRTB and SIMM, in addition to working in financial engineering and model validation roles.
Mayank holds a Masters degree in Mathematical Finance from Rutgers University and a Bachelors degree in Computer Science from the University of Michigan.
He also has a Financial Risk Manager (FRM) certification from the Global Association of Risk Professionals (GARP).
Matthew Katz is a credit risk specialist for 5+ years at S&P Global Market Intelligence, who has long-term expertise in qualitative and quantitative financial data analysis. Prior to joining S&P, Matt spent a number of years at Thomson Reuters specializing in credit risk models, as well as portfolio analytics. Before joining the market and financial data side, Matt worked on the buy side at the likes of Cohen & Steers and AllianceBernstein taking on many roles, such as portfolio and client reporting and risk analytics for institutional clients.
15:30 – 16:00
Afternoon networking break
16:00 – 16:30
Bracing for uncertainty: further challenges with the FRTB
Panel discussion
- The impact of delayed implementation
- How banks can remain compliant with rules despite different execution timelines across jurisdictions
- Strategies for banks to navigating uncertainties
Wei Zhu is a Managing Director and Global Head the Market Risk Analytics in Citi. After joining Citi in 2001, he has worked in various risk modeling areas including market risk, counterparty credit risk, and risk capital. Mr. Zhu has a Ph.D. in Physics from New York University and is a CFA charter holder since 2004.
Carlo Acerbi is a quantitative financial risk management researcher and professional, author of relevant contributions in the field of banking regulation (2002 coherent definition of ES ; 2019 ES backtesting), asset management liquidity regulation (2013 MSCI LiquidityMetrics) and stress testing (2016 MSCI ST best practices), among others.
He received a PhD in Theoretical Physics (1998, ISAS-SISSA, Trieste, Italy). He served for leading institutions in the financial risk industry (Banca Intesa, Abaxbank, McKinsey, RiskMetrics-MSCI, Banque Pictet). He teaches Advanced Derivatives at Bocconi University, Milan, Advanced Risk Management Topics at EPFL Lausanne (from Q4 2023) and he's Honorary Professor at Corvinus University, Budapest.
Valerie Fontaine-Aubry is responsible for Murex's Market Risk practice in the Americas. Valerie has over 20 years capital markets experience and runs the FRTB practice, a central role to design, implementation and presales activities for Murex Americas. Valerie has worked with Murex clients across Europe, North America and Latin America, implementing technology solutions to future-proof capital markets businesses. She started at Murex as an interest rate derivatives consultant before founding and heading the Murex emerging markets team in New York.
16:30 – 17:00
Emerging lessons from the current credit risk cycle
Panel discussion
- The impact of high inflation and interest rate risk hikes, and how current expected credit loss has faired
- Default risk, rates and latest approaches to modelling
- The future of credit risk modelling in the US under Basel III
Stewart Webster is a 13-year veteran at S&P Global and currently serves as a Director on the Credit & Risk Solutions team in the Market Intelligence segment. His focus is quantitative risk models that are driven by big data, machine learning and climate impact. Stewart uses these models to streamline processes and provide workflow automation for the firm’s global clients. He was also an Associate on the Leveraged Finance team at S&P Global Ratings. In this credit analysis role, he rated high yield sponsor backed companies and Middle Market CLOs. He was lead author for the “Credit Estimates within Middle Market CLOs” quarterly series and produced credit research often cited by financial institutions and government agencies. He joined S&P Capital IQ in 2010 where he managed the North America and MENA Private Equity Research teams.
Steve Boras is the Head of Model Risk Management & Validation at Citizens Bank in Boston, focused on managing the model risk of the bank via validation of models, performance management and monitoring of outcomes, and serving as a sounding board for new and emerging modeling techniques and their respective appropriateness. Since joining Citizens in 2015, Steve has led several risk analytics functions, most recently heading the Risk Architecture Center of Excellence (covering loss forecasting model development for CCAR/DFAST and CECL, and PD, LGD, and EAD modeling for wholesale), as well as anti-money laundering modeling, macroeconomic scenario generation, and Data Science. Steve also holds leadership roles in enterprise risk, ESG and Inflation/Stagflation scenario analysis, and artificial intelligence and machine learning governance.
Ash Majid is Managing Director and Chief Risk Officer for SMBC Capital Markets, Inc. & SMBC Nikko Securities America, Inc. wholly owned subsidiaries of SMBC Americas Holdings, Inc. In his current role he oversees teams responsible for managing the risk from the two subsidiaries within the broader America’s Division risk management team. Prior to joining SMBC Capital Markets, Ash worked at Ernst and Young, LLP within their Quantitative Advisory Services and SunTrust Banks, Inc. with oversight of their derivatives trading desks' market risk. Ash holds a Doctorate degree in Electrical and Computer Engineering and a Master's degree in Quantitative and Computational Finance from Georgia Institute of Technology. Additionally, Ash holds FINRA Series 7 & 24 licenses.
Bernard Goyder is a senior staff writer for Risk.net, based in New York. His focus is on the global derivatives market. Before joining Risk.net he was a senior reporter at Euromoney Institutional Investor, covering the insurance industry for Insurance Insider, Inside P&C and Trading Risk. Before Euromoney, he worked at Dow Jones, where he covered investment banking and asset management for Financial News. He holds an undergraduate degree in history from SOAS, University of London and a Financial Journalism masters from City University, London.
17:00 – 17:30
Closing keynote: the role of AI in banking
Presentation
- How banks are preparing for, developing and implementing AI
- Making the business case for AI: what to consider
- What AI capabilities can be leveraged now
- What AI capabilities does the future promise?
Adrian Cox is a strategist on Deutsche Bank’s Thematic Research team, focused on the implications of Artificial Intelligence for investors, enterprises and society. He joined Deutsche Bank in 2009 and held senior leadership roles in Communications in London and Sydney before joining DB Research. He previously spent a decade covering finance and economics as an award-winning journalist and editor at Bloomberg News and the Financial Times in London, Brussels and New York. He is a graduate of Cambridge University and has an MBA from City University in London.
17:30 – 17:35
Risk Management closing remarks
Kris Devasabai is the editor-in-chief for Risk.net. Previously, he was bureau head, US of Risk magazine and now he manages the editorial teams in APAC, EU and US. Prior to joining Risk, he covered hedge funds, asset management, cross-border investing and law for several publications. Kris holds a bachelor’s degree in law and government from the University of Manchester, and he completed his legal training at the Inns of Court School of Law in London. He was called to the bar of England and Wales in 2003.
17:35 – 19:00
Networking drinks
08:00 – 09:00
Registration and refreshments
08:55 – 09:00
Opening remarks
Philip Alexander is the regulation desk 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, he 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.
09:00 – 09:40
Trends in regulatory enforcement in the age of compliance angst
Panel discussion
Sponsored by:
As regulatory bodies continue to enhance oversight and enforcement efforts, organisations face pressing issues:
- Where will the US Securities and Exchange Commission (SEC) focus greater enforcement?
- Should organisations expect increasing financial penalties?
- How can firms go beyond compliance with scenario-testing regulatory overreach?
Philip Alexander is the regulation desk 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, he 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.
Serge De Coster
Chief intelligence and analytics officer
AcinChief Intelligence and Analytics Officer
Serge De Coster is the chief intelligence and analytics officer at Acin. Prior to Acin, Serge was the head of analytics and co-head of CIB at Coalition Greenwich, a leading provider of benchmarking analytics to the financial service industry and before that, he spent four years at Oliver Wyman, where he advised global corporate and investment banks in Europe, US and Asia. With an educational background in finance, computer science and a qualified Actuary, Serge brings deep expertise in data analytics, benchmarking and risk management, acquired by advising most global banks on capital management and capital optimisation.
As the former chief of the Office of the Whistleblower at the Securities and Exchange Commission, Jane Norberg brings her extensive experience to help clients navigate regulatory, enforcement, governance, and compliance issues associated with whistleblowers. As a former special officer in the Division of Enforcement at the SEC and a former special agent with the United States Secret Service, Ms. Norberg also brings her unique background and insights to assist clients in bringing regulatory and governmental inquiries to a successful resolution.
Ms. Norberg represents public and private companies, financial institutions, individuals, and investment advisors on sensitive whistleblower and other complex matters, including internal and government investigations; response to and defence of specific whistleblower allegations; securities enforcement and white collar defence; whistleblower retaliation claims defence; proactive assessment and structuring of internal compliance mechanisms, policies and procedures; training boards of directors, management and workforces on internal reporting and retaliation; and crisis management counseling to mitigate reputational risk. Ms. Norberg also conducts sexual harassment and other sensitive investigations, and educates boards of directors and executives about emerging whistleblower programmes such as the Anti-Money Laundering Act whistleblower programme and NHTSA automotive whistleblower programme.
During Ms. Norberg’s tenure at the SEC—she joined the SEC in 2012 as deputy chief of the Office and was appointed to chief in 2016—she helped develop and lead the SEC’s whistleblower programme since near its inception. Under her leadership, the Office’s staff expanded and achieved a record-breaking growth in both the number of whistleblower tips received and awards issued to whistleblowers under the programme.
Ms. Norberg has extensive experience and knowledge regarding whistleblower retaliation and is the leading expert on agreements that impede reporting in violation of Exchange Act Rule 21F-17, having directly advised on all whistleblower protection cases brought by the SEC during her tenure. She advised senior SEC leadership on emerging whistleblower issues and policies, as well as reported to Congress regarding the program’s activities. Ms. Norberg also had a substantial advisory role related to the amendments to the SEC’s whistleblower rules and has advised other domestic and international regulators related to the development of new whistleblower programmes. While at the SEC, Ms. Norberg also co-led a diversity and inclusion initiative across the Division of Enforcement.
Ms. Norberg is a thought leader and sought-after speaker with respect to whistleblower-related issues and also writes regularly on the topic.
Prior to joining the SEC, Ms. Norberg was in private practice, where she focused on executive compensation and employee benefits. She also previously served as a Special Agent in the United States Secret Service and as a legal intern to Judge Joseph M. McLaughlin, United States Court of Appeals for the Second Circuit.
Sabeena Ahmed Liconte serves as head of legal and chief compliance officer, Americas to ICBC Standard Bank Group (“ICBC Standard”), including its SEC-registered broker-dealer, ICBC Standard Securities Inc., and its CFTC-registered introducing broker, ICBC Standard Resources (America) Inc.
Prior to joining ICBC Standard, Sabeena’s previous professional experience included serving as deputy chief operating officer and chief legal officer to the US investment banking division of Bank of China International. She also served as futures & derivatives counsel to E*TRADE Financial Corp., including E*TRADE Clearing Corp. and E*TRADE Securities Corp.; and worked for the office of general counsel at Merrill Lynch Pierce Fenner & Smith Incorporated, the division of enforcement at the Financial Industry Regulatory Authority, the Bank of New York Mellon’s legal division and the securities fraud prosecution division of the Attorney General’s Office for the State of New Jersey.
Sabeena is a licensed attorney with a Juris Doctor from the St. John’s University School of Law. She also completed a visiting year at Fordham University School of Law. In addition to her law degree, she holds a Master of Arts in International Relations from Columbia University and, paying homage to her Canadian roots, a Bachelor of Arts in Criminology and Political Science from the University of Toronto.
She also serves as a member of the executive committee to the Futures Industry Association’s Law and Compliance Division; advisory board member of the Center for Financial Professionals FinTech Advisory Group; Diversity Chair of the American Bar Association’s Business Law Committee – Futures and Derivatives Law Subcommittee; and member of the New York City Bar Association’s Foreign and Comparative Law Committee, and Derivatives and Futures Committees.
09:40 – 10:10
Taming the third-party risk management (TPRM) beast: monitoring overlapping regulations for optimal risk management
Panel discussion
- How leading firms are deciphering and preparing for regulatory expectations while harnessing TPRM
- Decoding overlapping regulations and navigating the turbulent waters of compliance
- Understanding the TPRM lifecycle and risk management principles that drive success
- Differentiating between third-party relationships based on risk and criticality, and allocating resources effectively
- Practical insights and real-world case studies, outlining the tools to elevate TPRM practices in an evolving regulatory landscape
Since 2021 Alex is managing director at Citi, office of operations and technology transformation. He leads a global function for Citi-wide operations and technology transformation, with focus on risk and controls, enterprise risk management, data governance, straight-thru processing, finance, workforce planning, and compliance.
Alex joined Citi from IHS Markit (acquired by S&P Global) where he led third party risk assessments business (part of a joint venture with 16 Banks) to improve operational resilience, regulatory compliance, and cost. He led enablement of multiple industry consortiums and establishment of strategic industry partnerships.
Previously, for over 20 years at BNY Mellon Alex led numerous global functions, including technology transformation, third party risk management, business process improvement, enterprise architecture and shared services.
Alex has MBA in Finance & Management and BS in Computer Science from NYU, project management professional (PMP), certified data privacy solutions engineer (CDPSE), and certified information security manager (CISM) certifications. He served on multiple advisory boards as an expert in cybersecurity, risk, and technology.
Jeannie Pumphrey
Director, and head of third-party and operational risk management
Mitsubishi UFJ Financial Group
As Vice President of Operational Risk, Michael leads the first line of defense risk management for financial crimes, privacy and information security, business resiliency, vendor management and compliance with regulatory requirements. Mike and his team establishes the risk direction by aligning the Multifamily Governance Framework with the business operating model. He continually improves governance by understanding the multifaceted drivers that effect risk environment.
Madiha Fatima is an executive director - operational and outsourcing risk management at JP Morgan, where she leads the second line of defence function for operational and outsourcing risk overseeing third-party risk management, sourcing, procurement and inter-affiliate management. Previously, Madiha was the head of the third-party risk management department at Angelo Gordon, where she was responsible for developing a third-party risk management framework while enabling businesses to achieve their strategic objectives by utilising vendors. Before joining Angelo Gordon, Madiha Fatima was the head of third-party risk governance & oversight at DTCC. Madiha is a certified third-party risk professional (CTPRP). Madiha earned a Bachelor of Science in financial and capital markets from Rutgers Business School.
10:10 – 10:40
Operational risk and resilience expectations: mapping, testing and impact tolerances
Panel discussion
Sponsored by:
Rinku Sinha is the programme lead for the supervision group cybersecurity policy department at the Federal Reserve Bank of New York. She leads a team that is responsible for developing and managing cybersecurity policy objectives to advance cyber risk reduction in the financial sector. During her 20 years at the Fed, Rinku has served in many capacities, including supervising IT, operational and cyber risks at significantly important financial institutions both domestic and international. She holds a Master’s degree in Public Policy from the University of Michigan.
Digital native with more than two decades of senior management experiences within the financial industry leading strategic growth and mutations across digital risk, technology and operations. Cyril is chief operational resilience officer for BNP Paribas CIB Americas. He is responsible for imporving the organisation's risk management as well as resilience capabilities across business, continuity, cyber resilience, technology and third-party resilience. Cyril thinks himself a proponent of thought leadership, is an avid reader, speaker and writer… mainly on twitter; he is contributing to cross industry collaboration, and regulatory framework enhancement.
With many years of experience deploying business continuity and risk management platforms globally, Rich Cooper oversees customer success and business development for large, global accounts.
Rich has more than 20 years of experience in the business continuity and risk management marketplace, running programmes and implementing software in both Europe and North America for some of the world’s largest organsations. He has an MBCI certification from the Business Continuity Institute.
Michele Ushkowitz
Managing director, Americas, and head, operational risk
SG Corporate and Investment Banking
Michele was appointed to Americas head of operational risk in July 2016 reporting to the chief risk officer. Responsible for defining the goals, missions, day-to-day management of the overall operational risk management framework including data, technology and business continuity risk, cyber security risk management, third-party risk management, control testing and global risk monitoring teams.
Michele’s career at Société Générale began in 1993 and has worked in all three lines-of-defense. Her career began as a manager in internal audit. In 1999, Michele moved to San Francisco and worked in the investment banking division. She has held various positions in operations including: control manager responsible for accounting, system administration and managementreporting; chief of staff and head of operational risk management; head of structured finance operations, as well as responsible for the oversight of all operations in Brazil and Canada.
Michele received a Master’s in Finance from St. Joseph's University, Philadelphia, and a B.S. in Accounting from St. Joseph's University. Michele has successfully obtained series 99 regulatory license.
11:00 – 11:30
Networking refreshments break
11:30 – 12:40
Stream
Stream A
Regenerating data risk: enhancing fitness for purpose
Fireside chat
- Regenerating data taxonomies: enhancing data organisation and quality
- Fitness for purpose: overcoming challenges with unfit data
- Data handling in non-production environments: managing data in non-production settings
- Masking and production-level controls: securing sensitive data
Fred Harris is the managing director of cybersecurity risk, data risk and IT risk at Société Générale Americas. Fred is an accomplished technology executive with more than 30 years of technology and cybersecurity experience in the financial services industry. Before joining SG, Fred was in a similar role at Bank of America and before that he was with Deloitte for 16 years in a variety of roles.
Navigating the cybersecurity landscape: new supervisory expectations and approaches to defence and response
Panel discussion
From advanced threat detection to incident response and mitigation, technology is revolutionising the way organisations protect themselves.
- SEC and US Federal Reserve Board proposals for new cyber risk management rules
- Can the industry harmonise reportable metrics and strengthen cybersecurity in an increasingly complex threat landscape?
- Challenges and risks associated with AI-driven cybersecurity solutions and how to maximise the benefits
Philip Alexander is the regulation desk 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, he 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.
Marta Palanques is a seasoned security and risk professional, specialising in integrating risk management practices and processes to effectively support decision making with meaningful data while minimising the overhead and meeting regulatory expectations, and in communicating security and risk to technical and non-technical executive stakeholders.
In her current role as a director of risk methodologies at Capital One’s technology risk management team, Marta is responsible for defining methodology and practices for risk and controls management, and providing risk intelligence to benchmark risk analysis and monitoring. Her team also oversees technology and cyber risk compliance requirements and monitors adherence to those requirements.
Her previous experience in the industry ranges from IT audit and risk functions at Deloitte to conducting research in cybersecurity at Barcelona Digital Technology Center and includes defining and implementing an integrated risk management framework as a director of enterprise risk management at ADP, and building a programme to support a single reporting platform that enabled exploration of multiple data sources and provided ADP’s executive leadership with visibility and insight into the security and risk programme.
Jason Healey
Senior research scholar, cyber risk and conflict, and senior strategist
Columbia University and the US Cybersecurity and Infrastructure Security Agency
Jason Healey is a senior research scholar at Columbia University’s School for International and Public Affairs specialising in cyber risk and conflict and a part-time senior strategist at the National Risk Management Center at the US Cybersecurity and Infrastructure Security Agency. Prior to this, he was the founding director of the Cyber Statecraft Initiative of the Atlantic Council where he created the global “Cyber 9/12” student cyber-policy competition. He is the editor of the first history of conflict in cyberspace, A Fierce Domain: Cyber Conflict, 1986 to 2012 and helped stand up both the Office of the National Cyber Director at the White House (2022) and the world’s first cyber command (1998). A frequent keynote speaker on these issues, he is rated as a “top-rated” speaker for the RSA Conference and won the inaugural “Best of Briefing Award” at Black Hat.
Jason has been a founding member of the Office of the National Cyber Director at the White House (2022) as well as the first cyber command in the world, the Joint Task Force for Computer Network Defense in 1998, where he was one of the early pioneers of cyber threat intelligence. During an earlier job in the White House, he was a director for cyber policy, coordinating efforts to secure US cyberspace and critical infrastructure. He created Goldman Sachs’ first cyber incident response capability and later oversaw the bank’s crisis management and business continuity in Asia. He served as the vice chair of the Financial Services Information Sharing and Analysis Center (FS-ISAC). He is on the review board of the DEF CON and Black Hat hacker conferences, served on the Defense Science Board task force on cyber deterrence, and is past president and founding board member of the Cyber Conflict Studies Association. He started his career as a US Air Force intelligence officer with jobs at the Pentagon and National Security Agency.
Filippo Curti
Financial economist, supervision, regulation and credit
The Federal Reserve Bank of Richmond
Filippo is a financial economist in the Quantitative Supervision and Research (QSR) unit of the Federal Reserve Bank of Richmond. Filippo joined the Richmond Fed in 2014 after earning his doctorate in Finance at the University of Arizona. Prior to moving to the US, Filippo worked one year for Toro Assicurazioni S.p.a. (now Assicurazioni Generali S.p.a.) and obtained his master degree in Actuarial and Statistical Science from the University of Turin. Since he started working for the Richmond Fed he has been heavily involved in Operational Risk as both modeler and examiner.
Stream
Stream B
Climate risk is operational risk: models, scenarios and reputation
Presentation
- The importance of integrating climate risk in operational risk assessment
- Leveraging tools – such as models and scenarios – and understanding model risk
- Applying model risk principles to validate climate risk models
- Utilising scenario analysis for operational resilience
- The influence of climate risk drivers on reputational risk exposure
Andrew is a lecturer with the Climate Risk and Finance Council. Andrew specialises in assessing and managing physical and transition risk using emerging techniques such as scenario analysis and stress testing paired with quantitative risk modeling, data analytics, and automation technologies. From 2018 to 2021, Andrew was a partner at Climate Finance Advisors (CFA), a boutique advisory firm operating at the intersection of climate change policy and financial markets. As coordinator of climate assistance programs for the U.S. Department of State from 2010 to 2014, Andrew managed clean energy programmes and diplomatic initiatives designed to assist developing countries to accelerate their transition to low-carbon growth pathways. Andrew has a masters in public affairs with a focus on international development and climate change from the Princeton School of Public and International Affairs and a BA in Russian history and literature from Harvard College. He holds the GARP certificate in sustainability and climate risk certification (SCR), is a level II candidate for the CFA and SASB fundamentals of sustainability accounting, and the Columbia University certificate in sustainable finance.
Akshaya, an ESG & climate model validator, thrives within Deutsche Bank's model risk management team in vibrant New York City. Prior to her tenure at Deutsche Bank, Akshaya specialised in catastrophe risk models, delving into both natural and man-made peril models, including earthquakes, terrorism and cyber risks. Holding a geology background from Cornell University, Ithaca, and St. Xavier's College, Mumbai, she exudes a unique blend of expertise. Beyond her professional journey, Akshaya is a zealous advocate for diversity, equity & inclusion, as well as corporate social responsibility. Outside the walls of Deutsche Bank, you'll find her strumming the ukulele and harmonising vocal melodies (eliciting debates between being mellifluous or cacophonous), playing volleyball, immersing herself in philosophical non-dualism literature, and embracing the joy of cycling when the weather bestows its delight.
Unleashing the power of risk reporting: data management and value creation
Panel discussion
Sponsored by:
- Harnessing interactive dashboards and AI for actionable risk insights
- Optimising data management: streamlining data minimisation for effective risk data reporting
- Empowering risk function: enhancing value-added reporting and proactive risk management
- Leveraging risk information within governance, risk and compliance: decision support systems
- Data analytics against risk repository: more powerful decision report systems
Mark Hofberg is an accomplished risk management leader with over 20 years of industry experience. He previously served as a leader in a variety of audit, risk and compliance management functions within retail, wealth, and investment banking at Bank of America. Mark currently serves customers as Risk Solutions Executive within ServiceNow’s financial services division. Prior to joining ServiceNow, Mark served as RSA Archer’s field risk officer for US and Canada.
Mark has held various senior leadership roles at Accenture, Bank of America, RSA and now guides customers on their integrated risk transformation journeys with ServiceNow. He is passionate about the evolution of risk management, emerging risks, and the utilization of technology to optimize business outcomes. Mark has co-authored white papers on impacts of technical debt, digital risk, and has a patent on optimization of technology decisions (US 8,321,363 · Issued Nov 27, 2012) along with a patent pending process risk prioritization model. Mark holds a bachelor’s degree in engineering from North Carolina State University.
Greg Kanevski, is the Global Head of Banking for ServiceNow serving as the company’s subject matter expert and leading the strategic plan for products within the Retail and Commercial Banking sector.
Prior to ServiceNow, Greg lead a centralized group of experienced professionals managing risk for a diverse number of business lines including Technology, Corporate Security and Data Management. His team was accountable for the first line risk responsibilities including assurance, risk assessments, program governance & execution as well as quantification analysis. Prior to this role, Greg managed a team of more than 300 security and technical professionals with an annual budget of $40M and a capital budget of approximately $65M that were focused on identity, data management and infrastructure security. Greg quickly earned respect by rebuilding the function in less than one year, as well as embarking on a modernization effort focused on an end-to-end integration & automation that reduced expenses. Prior to joining Citizens bank, Greg spent more than 20
Victor Sino
Head of operational and resilience risk, US corporate/investment banking and global markets
HSBC
Victor joined HSBC in 2015 as the head of Americas operational risk unit with direct accountabilities over its global banking and markets business. In 2019, HSBC consolidated its operational and resilience risk coverage to one consolidated unit and assumed the direct full coverage over the broader suite of resilience risk such as information andtechnology, data, third Party and Transaction Processing and Payments Risks. His current team consists of senior risk officer s with deep business and operations subject matter expertise and technology, cyber and data risk specialists.
Prior to joining HSBC, Victor held leading roles within finance and risk management. He was global head of Barclays operational risk business oversight with specific
accountabilities over its fixedincome,equities, commodities and FX trading businesses. Victor was instrumental in leading Barclays risk management integration efforts with
Lehman Brothers as part of their 2008 acquisition. He also worked at Bank of America as the head of operational risk over their private bank and wealth management unit and spent 11 years in the first line of defence working on the trading floor covering of Deutsche Bank's capital markets platform.
With 14 years of Financial Services industry experience, Rob currently leads the Internal and External Loss Data team within Operational Risk Management at PNC. Rob has developed new risk frameworks and identifies and provides risk management and control solutions to address high profile and complex problems. Rob has overseen acquisition duties including integration of enterprise-wide risk data. Prior to joining PNC, Rob spent 7 years at BNY Mellon with positions in Asset Servicing and Global Markets. Rob has a keen eye for process improvements and automation using technology in the risk management and data analysis space.
Rob has held leadership roles at both PNC and BNY Mellon and holds a BSBA with a concentration in Economics from Robert Morris University and an MBA with a concentration in Management Information Systems from Point Park University.
12:40 – 14:00
Networking lunch
14:00 – 15:00
Stream
Stream A
Generative AI models, risk and ensuring compliance
Panel discussion
Explore best practices for managing data risks with a focus on safeguarding AI models and complying with regulatory requirements. Learn how to protect data, address non-expert use of data internally and make informed vendor selection decisions.
- Protecting data and the rise of AI models: best practices for securing, storing and preserving data integrity
- Non-expert use of data: mitigating risks associated with internal data applications
- Evaluating machine learning solutions: in internal domain and ensuring alignment with regulatory guidelines, such as SR11-7
Norine Richards
Director, bank information technology policy
Office of the Comptroller of the Currency
Norine Richards is the Director for Bank Information Technology for the Office of the Comptroller of the Currency’s (OCC) Operational Risk Policy Division.
In this role, Ms. Richards manages the team responsible for developing, communicating, and interpreting policies for the OCC’s supervision of technology operations at financial institutions. She represents the OCC on several interagency groups, including the Federal Financial Institutions Examination Council’s Information Technology Subcommittee. The interagency groups focus on coordination and development of information technology risk management supervisory guidance for such topics as information security, resiliency, technology operations, corporate governance, and independent risk management. She assumed these responsibilities in May 2020.
Previously, Ms. Richards spent 22 years as a National Bank Examiner specializing in information technology examination for significant service providers and financial institutions and served as the Bank Information Technology lead expert for the OCC’s Western District. Ms. Richards has also worked as an information security consultant in Washington, D.C., and was the Director of Risk Management for a financial institution.
Ms. Richards attended Bloomsburg University and is a Certified Information Systems Auditor and Certified Fraud Examiner.
Adam Ennamli is the current chief risk officer at General Bank of Canada, overseeing the evolution and management of all enterprise-wide risks. He leverages over 15 years of risk management, compliance and operations leadership experience at major financial and technology institutions globally, including Thomson Reuters, Canada Mortgage and Housing Corporation, Morgan Stanley and National Bank of Canada.
In his prior roles, Adam spearheaded the development of risk management, governance and compliance programmes driving strategic decision-making and prudent growth. He holds an MBA from HEC Montreal as well as multiple ESG certifications, complementing his expertise across ERM, cyber security, operational resilience and technology. Adam is recognised for enabling companies to build durable competitive advantages through world-class capabilities.
Brian Smith is the head of information risk and resilience at Prudential Financial. In this role, he oversees the implementation of operational risk management policies and processes for technology, data and cyber risk across the company and oversees the business continuation and third-party risk management programmes.
Prior to joining Prudential in early 2014, Brian worked at AIG leading the IT security, risk and compliance team for AIG Global Services; at MetLife as a director of IT audit; and at Ernst & Young as a manager in their technology risk assurance and consulting practices. Brian also served as a captain in the U.S. Air Force.
Brian is a certified information systems auditor and certified in risk and information systems control. He earned a bachelor’s degree in mechanical engineering from the Georgia Institute of Technology, a master of business administration degree from Georgia College and State University, and a master's degree in information systems from New York University.
As the leader for horizontal programmes within the operational risk group at U.S. Bank, Faron leads teams responsible for the issue management program, product and service delivery risk management programme, enterprise taxonomy programme, GRC transformation programme’s 2LOD activities and readiness and technology oversight for risk management use cases and requirements. Faron has a diverse career history across financial service operations, first line of defense risk management and second line of defense programmes and technology.
Prior to his current role, Faron served as the head of the RCSA programme for Union Bank through the bank’s acquisition by U.S. Bank. Previous roles have also included head of business management for risk in the Americas and GRC transformation business lead at Mitsubishi UFJ Financial Group.
Before joining Mitsubishi UFJ Financial Group, Faron spent nearly a decade at Bank of America in horizontal risk programmes and consumer operations. He holds an M.B.A. in Supply Chain Management from Arizona State University and a B.B.A in Economics from the University of North Dakota.
Cloud concentration risk: navigating the stormy skies of cloud migration
Panel discussion with audience Q&A
- Risk assessment of cloud migrations
- Vendor selection and due diligence
- Data security and privacy considerations
- Operational risk management in cloud environments
- The Digital Operational Resilience Act
Nita Kohli is an operational resilience executive who is driving to strengthen and mature resiliency capabilities across industry, recently serving as a board advisor. She is formerly the global head of enterprise resilience at Citi, and prior to that at Freddie Mac. She partners with executives, regulators, and industry counterparts to drive convergence and integration across the industry to promote consistency across peer institutions, and harmonisation with the intent of the regulations.
Nita has 25+ years of multi-disciplinary experience within the financial industry. She has held a variety of leadership roles across a multitude of functional areas, including technology, operations, finance, risk & control, and has a demonstrated record of accomplishment having led several large-scale business transformations.
Nita’s career spans internationally, across Europe, Asia and North America. She is a chartered accountant (ACA) and has a BSc(Hons) in Mathematics and Management from King’s College, University of London.
Nita has recently published several articles with the Disaster Recovery Journal and Newsweek. She has been an industry finalist Excellence in Leadership with both Women in Housing and Disaster Recovery Institute.
In 2022, Nita has been named as one of the Top 50 American Asians in Business.
Michael Zanga is group head of cyber, technology and data risk at Barclays responsible for managing the systemic and residual risk of services at the firm. Prior to Barclays, he was a strategy and transformation executive at IBM. Michael had been previously seated on TechR2’s Advisory Board which is a data protection, assessment and eradication firm. He also was on the Board of Alkymi, which is a natural language and AI data manipulation firm. Michael is very experienced in all facets of technology from working at major international banking institutions including the Royal Bank of Scotland as CIO, Deutsche Bank as CTO and the Union Bank of Switzerland as an engineer. He is a CISSP certified in information security and has a Master’s degree from Iona University. He has worked with the Federal Reserve on reviews of practices across banks. He has focused on cost containment and the continual alignment of technology initiatives with business needs. Michael led in a variety of information security initiatives including
safeguarding critical, confidential, and sensitive data which provided him with the insight into data security regulations making him a subject matter expert.
Michael previously was the President of the Stamford Connecticut Public Education Foundation (SPEF). Founded in 1996, the mission of the Stamford Public Education Foundation (SPEF) is to deliver educational programmes and resources that elevate student, educator, and parent success by bridging the gap between needs in the Stamford Public Schools and resources in our community. The Foundation’s vision is that each and every student in the local public schools will graduate high school prepared and inspired to be a productive member of society.
Michael also worked with the Utah Chamber of Commerce as well as University of Utah and BYU to create in school curriculum that aligned to the Royal Bank of Scotland open roles. Internship programmes and graduate programme were created, which fostered junior talent at the bank as they created an operations programme in Salt Lake City. He is also a professor at Iona University teaching computer systems.
David is the global chief information security officer for GSR. David’s experience includes serving as president of CISO’s Connect and being a senior partner at Law and Forensics responsible for the crypto and digital banking practice and serving as a key member of the cybersecurity and privacy practice. David served as a senior banking regulator. He was the vice president for cyber and IT risk for the Federal Reserve Bank of New York. David specialised in large institution supervision, fin-tech, AI/ML and cryptocurrencies. Prior to this role, David served as the chief information security officer for IBM. He had global responsibility for all aspects of security practices, processes and policies across the IBM Cloud SaaS business unit.
Previously, David served as the SVP and chief information security officer for Elsevier, where he led an organisation of experienced legal, risk and security professionals that provided data protection, privacy, security and risk management guidance on a global basis for Elsevier.
David has extensive experience in IT security, risk assessment, risk management, business continuity and disaster recovery, developing security policies and procedures. He has played a key role in leading and building corporate risk and governance and information security organisations in the financial sector. As the senior director of information security risk and governance for Freddie Mac, David rebuilt the risk and governance function and developed a team to provide risk assessments, methodologies, tools, services and training to improve the organisation’s capabilities and maturity. Prior to that, he was vice president of risk management for JPMorgan Chase and was responsible for providing an accurate assessment of the current risk management state, contributing to the future direction of risk management, continuity and disaster recovery capabilities for the organisation.
David has a MSE from the University of Pennsylvania, and a MBA from MIT. He is adjunct faculty for Harvard. He is also a frequent speaker at high profile industry conferences and served on several boards
Stream
Stream B
Trust collapse: taming the power of network effects
Panel discussion
The power of network effects, amplified by the rapid proliferation of information and communication technologies, has complicated mitigating risk and maintaining trust.
- Communication management, misinformation, external communications and other factors to monitor
- Operational risk management implications
- The Fed's expectations and risk tolerance – strategies to remain within and align institutions' strategies with risk tolerance
Since joining SG in 2009, he has held a range of positions. Currently, he is the Chief Data Officer, SG Americas, with responsibility for data management and governance within the Region. This function is responsible for implementing the requirements of BCBS 239, establishing sound data governance framework that meets Group needs and local supervisory expectations, and creating a solid platform for the data to be leveraged for strategic business decisions. Prior to that, he headed up the Project Management Office for the SG US Transformation project. SG roles before that included Deputy CFO of the Americas Region of their Corporate & Investment Bank and Head of Finance Offshoring in SG Bangalore.
Prior to joining SG, Bala was with the Canadian Imperial Bank of Commerce (CIBC) for fourteen years in a range of positions in Toronto and New York. As Senior Vice President of the Wholesale North America Finance, he headed up the controllership function for CIBC’s World Markets and Treasury & Risk Management Strategic Business Units within North America. With a global team across Toronto and New York, he was responsible for establishing a SOX-compliant industry-leading Finance control environment as well as supporting the efficient execution of business initiatives and managing the Finance related US regulatory relationships during a very demanding period. Prior to that, he also had stints as the business-line controller for the Bank's US origination businesses (Corporate Lending, Investment Banking, Merchant Banking, Structured Finance, and High Yield), as well as the 2/ic to the Chief Accountant, with responsibility for consolidated financial, management and regulatory reporting at the corporate level.
Born and brought up in Mumbai India, Bala has a degree in mathematics from the University of Mumbai and holds professional accounting qualifications from both India and the United States. He lives in Montclair, New Jersey is married with two children, and enjoys long-distance running.
Jasmine Burgess became the COO/CRO of Coinbase Asset Management, after an acquisition of One River Digital, a role she started in November 2021. Prior to One River Digital, she was appointed head of the US for Coremont in March 2020, Brevan Howard’s infrastructure spin-out after serving as Brevan Howard’s head of risk in New York from August 2016. Prior to joining Brevan Howard, Burgess was chief risk officer at Prologue Capital, a Greenwich, Connecticut-based hedge fund (April 2013 to July 2016). Prior to this buy-side focus, Jasmine worked at Macquarie Bank from August 2006 to March 2013. In March 2009, she transferred to New York as an associate director to assist building the fixed income, currencies and commodities trading floor after starting as a senior manager leading the market risk team in Sydney, Australia. Jasmine started her career at Citibank in 1999 before joining JP Morgan as an analyst within the Investment Banking Group in 2002.
Matthew Moore
Director, US head of operational risk for the markets, banking, research and treasury businesses
Barclays
Matthew Moore is a New York-based executive with 20+ experience in a variety of roles in the banking industry. He is currently a director at Barclays with responsibility as US head of operational risk for the markets, banking, research and treasury businesses. Prior to Barclays, he was the Americas lead at Deutsche Bank responsible for overseeing Americas second line operational risk teams responsible for resilience, third party, technology and transaction processing. Previous to this role he spent over a decade in finance and operations supporting the markets business at both Deutsche Bank and JPMorgan. Matthew holds a Bachelor's degree from University of South Florida and FINRA Series 99.
United we stand: navigating the US political climate and taking a balanced approach to environmental, social and governance (ESG)
Panel discussion
- Implications of the US political climate for ESG policies: reputational risk, shareholder and activist litigation
- Finding common ground and driving sustainable change in the face of new challenges
- Defining and practically implementing changes to reach ESG goals
Penny is head of operational risk Americas governance with UBS, where she currently manages the operational risk framework, practices, regulatory responses and core programmes. Operational risk & regulation magazine awarded Penny three awards for her contribution to the field of operational risk, including a special industry award in 2011. Penny has published widely, including authoring the chapter on risk and control self assessments for the PRMIA Operational Risk Manager Handbook.
Charlie Donovan is a senior economic advisor at Impax and visiting professor of sustainable finance at the Foster School of Business at the University of Washington. Charlie’s role at Impax deepens the firm’s expertise in understanding the opportunities arising from a global energy transition. He contributes to Impax’s thought leadership initiatives and provides insights on North American policy developments to Impax’s clients and investment teams.
Before joining lmpax in 2022, Charlie was previously professor of practice at Imperial College London and founding executive director of lmperial’s Centre for Climate Finance and Investment. In his corporate career, Charlie was head of structuring and valuation for global power at BP plc and part of the team that launched BP alternative energy in 2005 with an $8 billion funding commitment. He began his career as an energy policy analyst at the US Environmental Protection Agency during the Clinton Administration.
Charlie serves as academic co-chair of the Coalition for Climate Resilient Investment (CCRI), an investor body representing $20 trillion of assets under management, and is co-author and editor of Renewable Energy Finance: Powering the Future, now in its second edition. Charlie holds a BA from the University of Washington, an MBA from Vanderbilt University, and gained his doctoral degree from IE Business School.
Rajith Sebastian is the head of ESG and sustainable investing at NYSIF, where he leads the sustainable investing, stewardship, and ESG integration activities across the $20bn portfolio. He also holds the position of head of impact investments at the Wharton School’s ESG Initiative, where he oversees various research and experiential education programmes that aim to advance the field of sustainable investing. Rajith brings a wealth of global experience in finance and consulting, with 14 years of work experience in investment banking, private equity and management consulting across Europe, Africa and China. He earned his Bachelor of Business Science degree from the University of Cape Town and completed his MBA at the Wharton School at the University of Pennsylvania. He is a CFA charterholder.
15:00 – 15:30
Networking refreshments break
15:30 – 16:15
Heads of operational risk discuss Risk.net’s top 10 op risks
Panel discussion and audience voting
Heads of operational risk explore the most pressing risks, from anti-money laundering (AML) to cyber breaches. This session will call on the audience to vote on the risks most applicable to their firms.
Penny is head of operational risk Americas governance with UBS, where she currently manages the operational risk framework, practices, regulatory responses and core programmes. Operational risk & regulation magazine awarded Penny three awards for her contribution to the field of operational risk, including a special industry award in 2011. Penny has published widely, including authoring the chapter on risk and control self assessments for the PRMIA Operational Risk Manager Handbook.
Aengus Hallinan
Managing director, chief operational risk officer and chief risk officer, securities services and digital
BNY Mellon
Aengus Hallinan joined Bank of New York Mellon in New York in January 2020. Having held a number of roles at BNYM, he is currently chief operational risk officer and chief risk officer for the Securities Services and Digital business. Prior to BNYM, Aengus spent five years at Credit Suisse where he was group head of operational risk management and business continuitymanagement. Aengus started his career in London (originally with Swiss Bank Corporation) and held a variety of front office equities roles with UBS Investment Bank in London, New York, Tokyo, and Hong Kong.
Christy Riccardi is the Head of Cyber Risk Management for Capital One. Christy leads the identification, prioritization, and mitigation of cyber risk through the management of metrics, data analytics, risk assessments and evaluations, and cyber capability analysis. In a prior role at Capital One, Christy led risk and remediation management functions in support of Capital One’s Lines of Business, ensuring cyber risks and vulnerabilities are managed, remediated, and dispositioned appropriately. Prior to Capital One, she served as the Cybersecurity and Infrastructure Security Agency (CISA) Region IX Director. As Regional Director, Christy led regionally-based security experts and analysts to provide advice to industry and government on cybersecurity, information sharing and protection, data tools and technology, and infrastructure resilience. There, Christy led cybersecurity and physical security outreach and operations in support of U.S. election infrastructure. Christy’s previous roles include Deputy Chief of Staff for the Department of Homeland Security Office of Infrastructure Protection; Senior Systems Engineer and Software Engineer.
Christy earned a Master of Art in Security Studies from the Naval Postgraduate School for Homeland Defense and Security Studies. Christy also holds a Bachelor and Master of Science in Computer Science.
16:15 – 16:55
Rising to the challenge: countering advanced fraud and AML threats with technology and strategy
Panel discussion
Sponsored by:
The convergence of digital progress and malevolent intent has intensified challenges in fraud and anti-money laundering (AML). As we harness tech for defence, adversaries adapt, intensifying their deceptive tactics. We probe the contours of today's evolving fraud ecosystem, spotlighting the subtleties of its complexity.
The session will touch on:
- The anticipated trajectory of fraud: gauging its increasing frequency and sophistication.
- The dual role of technology: its potential as a defence tool versus the savvy tactics of fraudsters.
- Unpacking the characteristics and drivers behind major fraud threats, from organised retail crime to counterfeit SSL certificates.
- Harnessing AI and automation: utilising them as sentinels for early warning signs and streamlined due diligence.
Landon Winkelvoss co-founded Nisos in 2015 and serves as its VP of intelligence research, where he leads public-facing and community adversary research. Furthermore, he leads Nisos intelligence advisors where his team is directly involved in go-to-market sales, demand generation marketing efforts, targeted prospecting, partnership acquisition, product management advice and project sales conversion to annual recurring revenue. He also sits on the board of directors and is involved in the strategic direction of Nisos with Columbia Capital, Paladin Capital Group, and Skylab Capital. His vision as a founder was to deliver intelligence community-level digital insights to blue-chip companies to enable a stronger defence and more effective response against advanced cyberattacks, disinformation, threats to executives and physical assets and abuse of digital platforms. Prior to founding Nisos, he spent 10 years as a technical targeting officer for the U.S. intelligence community, including multiple warzone deployments and overseas postings. Landon is a regular contributor to numerous publications on cyber intelligence and investigations including Security Week, Dark Reading and SC Magazine.
Tom Mangine
Director, capital markets anti-money laundering and adjunct professor, Joint Special Operations University
Bank of Montreal
Tom Mangine is an adjunct professor at the Joint Special Operations University (JSOU), where he teaches classes on terrorist-financing, money-laundering and cybersecurity. He has developed and taught short courses on cyber-enabled financial crime, cryptocurrency and conducting financial investigations. He also serves as an instructor with the Association of Certified Financial Crime Specialists, teaching classes on asset recovery, cybersecurity and investigative techniques. Tom previously worked at the Bank of Montreal (BMO), where he held positions as director, capital markets AML (global risk & special investigations), chief of special investigations, the money-laundering reporting officer (MLRO) for the US and director for cyber resilience. In 2021, he also became a volunteer sports integrity officer, helping civic organisations and ministries of sport in Europe as well as South America investigate corruption in professional sports.
Tom entered the financial industry after more than twenty years with the US Army where he served on six continents – including deployments to the Balkans, Central Asia, Horn of Africa, Middle East and North Africa. He earned a BS in political science from the United States Military Academy as well as an MA in international relations and security studies from the Naval Postgraduate School.
CJ is the chief compliance officer at Kraken overseeing all aspects of global compliance. He has held many prominent roles in his career. CJ was previously chief compliance officer at Blockchain.com, where he was tasked with building out global compliance frameworks and mitigating compliance risk. Prior to that, CJ had several roles at Deutsche Bank, including head of business line anti-financial crime - Investment Bank, as well as chief compliance officer for its swap dealer and US broker dealer. CJ also worked at UBS Investment Bank in multiple roles, including as global head of client infrastructure. He also served as manager of counterparty relations at Bridgewater Associates, and as senior counsel in the Enforcement Division of the U.S. Securities and Exchange Commission.
16:55 – 17:00
OpRisk closing remarks
Philip Alexander is the regulation desk 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, he 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.
17:00 – 19:00
Networking drinks
08:00 – 09:00
Registration and refreshments
09:00 – 10:35
Risk Live North America keynote sessions
Scene-setting keynotes kick off the day
11:15 – 11:20
Opening remarks
11:20 – 12:05
Macro risks and preparing for the unexpected
Panel discussion
- Preparing for an economic hard landing: inflation risk, energy crises, central bank policy errors, recessions and subsequent pressure on corporate earnings
- Geopolitical risks and considering additional risk premiums: China and Taiwan, developments in the Russia/Ukraine war, new financial sanctions, food shortages and social unrest
Ronald Ratcliffe, PhD, is a Managing Director in BlackRock’s Applied Portfolio Analysis practice area within the Analytics & Quantitative Solutions (AQS) group. He focuses on multi-asset portfolio risk, scenario analysis, and portfolio construction.
Dr. Ratcliffe's service with BlackRock dates back to 2004, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. Prior to joining AQS, he led the Market-Driven Scenarios (MDS) initiative as Head of Cross-Platform Scenario Analysis in the Risk & Quantitative Analysis (RQA) group. Previously in RQA, he was Head of Multi-Asset Investment Risk for the Americas West region. In the Portfolio Management Group (PMG), he was a portfolio manager and developed systematic macro trading strategies. Prior to joining BGI, Dr. Ratcliffe was a senior manager at KPMG in corporate valuation and international transfer pricing. Previously, he was the chief economist for Latin America at SG Cowen Securities, a subsidiary of Societe Generale. Before that he was with Bankers Trust Company (now part of Deutsche Bank) where he carried out country risk analysis.
Dr. Ratcliffe earned BA degrees in economics and in political science, with distinction and with departmental honors in economics, from Stanford University. He received a PhD in economics from the University of Pennsylvania.
Andy Sparks is Managing Director and Head of Portfolio Management Research. Previously, he was responsible for Fixed income Research Strategies. Andy and his group show how MSCI’s analytical models can be used to offer investment insights on topical market issues. In this role, he is able to leverage his extensive knowledge of valuation models, indexes and portfolio risk methodologies. Previously, Mr. Sparks had been Head of Technical Product Management, with responsibility for product vision and leadership in the buildout of MSCI’s multi-asset portfolio analytic products.
Prior to joining MSCI in 2011, Mr. Sparks had been Head of Product Management for the POINT business at Barclays Capital, where he had responsibility for product strategy and product execution for the POINT portfolio analytics platform. Mr. Sparks was named the Head of the POINT marketing group at Lehman Brothers in 2004. He also had managerial responsibility for Lehman’s index business between 2006-2008.
Mr. Sparks joined Lehman Brothers in 1995. Other senior level positions he held within the bank include Head of Mortgage Strategies and Head of U.S. Rate Strategies. In this role, Mr. Sparks and his group were repeatedly named to Institutional Investor’s All-America Fixed Income Research Team. Before joining Lehman, Mr. Sparks had been Head of Mortgage and Rates Research at Citicorp Securities.
Mr. Sparks has an M.A. in Economics from the University of Chicago and a B.A. in Economics from UCLA.
12:05 – 12:50
Capitalising on market uncertainty: opportunities for portfolio optimisation through risk management and hedging
Panel discussion
- Will there be a market downturn? How can firms mitigate the risks?
- Shifting regulatory expectations and requests for greater information sharing amid assumed risk among buy-side firms
- Achieving an agnostic view of risk and using it to rebalance portfolios
- The evolution of portfolio analytics
Ms. Garcia joined Apollo in 2021 as the Head of Market Risk. Prior to joining Apollo, Ms. Garcia was an Executive Vice President and Portfolio Risk Manager at PIMCO from 2007-2021. While at PIMCO she served on various management committees, oversaw investment and counterparty risk, and led firm planning for LIBOR transition. Prior to PIMCO, Ms. Garcia was employed by Barclays Capital within the CDO Structuring group. She graduated from University of California, Berkeley with a Masters of Financial Engineering and Columbia University with a BS in Applied Mathematics.
Yakov Shenkman, CFA, FRM, CAIA, Director, is the head of the Risk & Quantitative Analysis (RQA) team for Fundamental Equity, Americas. The RQA team provides independent risk oversight on behalf of BlackRock and its clients, as well as partners with portfolio managers in their portfolio construction process to ensure the risks managed by BlackRock are appropriately deliberate, diversified and scaled. Prior to joining BlackRock in 2013, Yakov was a senior risk manager in Global Portfolio Strategies (GPS) team at Bank of America where he was responsible for constructing, optimizing and hedging bank’s commercial credit loan portfolio. Yakov started his career in 2006 at Morgan Stanley where he was an equity risk manager at Morgan Stanley Investment Management transitioning later on to a sell-side risk manager role covering Structured Credit Products trading desk. Yakov holds a Masters degree in Operations Research-Financial Engineering from Columbia University and an undergraduate degree in Economics from the Wharton School at the University of Pennsylvania. Yakov is a CFA, FRM and CAIA charters holder and is a member of CFA Institute and Global Association of Risk Professionals (GARP).
Jean Carlos is an accomplished economist and seasoned banker with over 20 years of global investment banking experience. Currently serving as the Executive Director and US Head of Risk Appetite & Limits and Valuation at Santander Corporate Investment Banking, He leads a team responsible for governance, admission, and risk control of capital markets activity in the US.
Jean Carlos possesses a wealth of expertise in technical, fundamental, markets, and risk knowledge, including ESG and impact investment approaches. Throughout his career, Jean Carlos has been instrumental in constructing robust capabilities and risk frameworks, geared towards facilitating multi-assets class activities within capital markets, with a focus on Latin America and the US.
Jean Carlos earned a Master in Business Administration from MIT, with Business Analytics and Sustainability certifications. He also holds a Bachelor in Economics and a Master in Banking and Financial Markets. Beyond finance, he has contributed to sustainability projects with positive social, environmental, and financial impact.
Fabrice Fiol leads the Risk Management team at KAM. Prior to KAM, he was a Managing Director and Deputy Head of the Enterprise Risk Management department for Societe Generale (SG) Americas, where he oversaw Enterprise Stress Testing for SG’s US activities. His previous role at SG was within the market risk department across several asset classes. Prior to SG, Fabrice was a Senior Vice President at Natixis responsible for risk management on a U.S. Agency MBS portfolio. He also held a Vice President role at the Swiss Re, where he developed interest rates analytics and subsequently joined the U.S. rates derivatives trading desk. Fabrice is a lecturer in the Columbia University SPS Enterprise Risk Management Program. He graduated with a master’s degree from ENSAE (National School of Statistics and Economics) in France.
12:50 – 14:00
Networking lunch
Including invitation-only Chatham House Rule lunch roundtables
13:00 – 13:45
Lunch roundtable: Capturing data for risk management – the challenges and how to address them
Held under the Chatham House Rule and by invitation only
Against a backdrop of high market volatility and rapid technological development, risk management systems and processes in financial institutions are changing and evolving. How do risk managers assess their current infrastructure? What are the main challenges and pain points for the buy and the sell sides in capturing the necessary data? How are they addressing those challenges?
- Real-time data for risk managers
- The potential of cloud computing for risk management and associated challenges
- Stress testing: practical aspects
- Digital transformation
- Data management
- Lack of resources and resource allocation
Ram Meenakshisundaram, MSCS, MBA, CQF, CAIA, MCSI is the Senior Vice President of Quantitative Services at KWA Analytics where he manages the development of analytical and quantitative solutions. He has over three decades of client experience working on financial projects in various industries and asset classes including energy, commodity, fixed income, FX, and equity.
Before joining KWA, Ram was the Principal Architect/Director at ION Group/OpenLink where he managed the Endur/Findur product development in Power and Capital Market sectors. Prior to joining OpenLink, Ram has worked at various investment firms and banks including BlackRock, SBC Warbug Dillion Reade, and Deutsche Bank on government securities, repurchase agreements, FX and equity derivatives.
Ram is on the advisory board of Hofstra University Zarb School of Business in Finance and is an Associate Professor in Finance at Hofstra University. He received a B.S. and M.S. in Computer Science with honors from Pace University and NYU Tandon School of Engineering. Ram earned his MBA in Finance from Hofstra University and the Certified Quantitative Finance designation from Fitch Learning. He is a Chartered Alternative Investment Analyst (CAIA) charter-holder and a member of the Chartered Institute for Securities & Investment.
Sven Sandow is the Global Head of Credit and Operational Risk Analytics at Morgan Stanley. During his 20-year career in the financial industry, Sven has worked in various quantitative modeling, risk management, and capital management capacities. Prior to Morgan Stanley, he worked at Merrill Lynch and Standard & Poor’s. Before he joined the financial industry, Sven worked as a physicist at the Virginia Polytechnic Institute and the Weizmann Institute of Science. He has been an active researcher in physics, finance, and machine learning. His research has been published in academic journals, and he coauthored a book on learning from data. Sven holds a Ph.D. in physics from the Martin-Luther-University Halle-Wittenberg in Germany.
Jean Carlos is an accomplished economist and seasoned banker with over 20 years of global investment banking experience. Currently serving as the Executive Director and US Head of Risk Appetite & Limits and Valuation at Santander Corporate Investment Banking, He leads a team responsible for governance, admission, and risk control of capital markets activity in the US.
Jean Carlos possesses a wealth of expertise in technical, fundamental, markets, and risk knowledge, including ESG and impact investment approaches. Throughout his career, Jean Carlos has been instrumental in constructing robust capabilities and risk frameworks, geared towards facilitating multi-assets class activities within capital markets, with a focus on Latin America and the US.
Jean Carlos earned a Master in Business Administration from MIT, with Business Analytics and Sustainability certifications. He also holds a Bachelor in Economics and a Master in Banking and Financial Markets. Beyond finance, he has contributed to sustainability projects with positive social, environmental, and financial impact.
14:00 – 14:25
14:45 – 15:30
Combatting cyberthreats
Presentation
- New trends: how the landscape of cyber threats is evolving
- Increasing number of cyber attacks in the industry
- Regulatory requirements: new regulations for better risk management and incident response
- Incident response, communication and planning
- Gap analysis: vulnerabilities emerging as use of technology continues to ramp-up
- A lack of cohesion between the incident response process and overall security practices and resulting risks to the business
- Assessing gaps in cyber threat analyses and monitoring them to mitigate risk
- Leveraging incident response, scenario-based planning to benchmark risks
15:30 – 16:00
Afternoon networking break
16:00 – 16:30
Expansive use of AI: who's in control and in charge?
Panel Session
As adoption of AI increases, the consequences of its use in banking remain to be seen, and warnings about the risks of unrestrained AI are becoming more prevalent.
- Key risks associated with AI in financial services
- Potential impacts of a pause in AI development
- Whether safeguards and controls to meet policy-makers' expectations are realistic
- Crafting effective oversight of AI networks, establishing functional risk and control frameworks
Ronald Ratcliffe, PhD, is a Managing Director in BlackRock’s Applied Portfolio Analysis practice area within the Analytics & Quantitative Solutions (AQS) group. He focuses on multi-asset portfolio risk, scenario analysis, and portfolio construction.
Dr. Ratcliffe's service with BlackRock dates back to 2004, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. Prior to joining AQS, he led the Market-Driven Scenarios (MDS) initiative as Head of Cross-Platform Scenario Analysis in the Risk & Quantitative Analysis (RQA) group. Previously in RQA, he was Head of Multi-Asset Investment Risk for the Americas West region. In the Portfolio Management Group (PMG), he was a portfolio manager and developed systematic macro trading strategies. Prior to joining BGI, Dr. Ratcliffe was a senior manager at KPMG in corporate valuation and international transfer pricing. Previously, he was the chief economist for Latin America at SG Cowen Securities, a subsidiary of Societe Generale. Before that he was with Bankers Trust Company (now part of Deutsche Bank) where he carried out country risk analysis.
Dr. Ratcliffe earned BA degrees in economics and in political science, with distinction and with departmental honors in economics, from Stanford University. He received a PhD in economics from the University of Pennsylvania.
16:30 – 17:00
ESG and impact investing: how investors can integrate ESG
Panel discussion
- Which metrics matter most
- How firms view ESG investing versus fiduciary duty in the current climate
- Quantifying the financial impact of climate risk in an accurate way
- Measuring the impact of a quick transition to a greener economy
John Levy is the director of impact for Franklin Real Asset Advisors. He is responsible for the thoughtful integration of impact management into the Real Asset team's investment processes. Mr. Levy manages a framework which covers impact goal-setting, measurement, evaluation and reporting.
Mr. Levy began working for Franklin Templeton Investments in 2005 as an intern. He later joined the company's Futures Program and took a position with Franklin Templeton Solutions in 2008, and Franklin Real Asset Advisors in 2018.
Prior to his current role, Mr. Levy was director of manager research for Franklin Templeton Multi-Asset Solutions
Mr. Levy holds a B.A. in economics and political science from Bucknell University (2005). He graduated Magna Cum Laude with Honors in economics. He is a Chartered Financial Analyst (CFA) charterholder and a Chartered Alternative Investment Analyst (CAIA) charterholder.
Matt Kaczmarek is global head of private debt sustainable investing at BlackRock. He leads a team overseeing the consideration of ESG factors in the investment process and developing sustainable investment solutions. Matt is co-head of BlackRock’s Los Angeles office and chairs the firm’s Out & Allies LGBTQ+ employee network for the Americas. Prior to joining BlackRock, Matt held senior economic policy appointments in the White House under President Obama and served in the U.S. Treasury and State Departments. He received his BA from the University of California, Los Angeles (UCLA) and MA from the Johns Hopkins University School of Advanced International Studies (SAIS).
Laura Craft is Partner, Head of Global ESG Strategy at Heitman, a RE investment management with ~$44 Bn under management. She establishes systematic approaches to embed ESG into investment decision-making and management of investments. Integrating ESG considerations provides opportunities to create value, reduce risk and enhance investment returns. She leads the Heitman partnership with Urban Land Institute (ULI) to publish the reports, Climate Risk and Real Estate Investment Decision-Making and Emerging Practices for Market Assessment which explore current methods for assessing and mitigating climate risk in real estate. Complementing asset- and market-level climate risk assessments, Heitman has committed to net zero carbon operations by 2030.
Michael Kashani joined Apollo Global Management as the Head of ESG Credit in October 2021. Michael is responsible for supporting ESG integration across the Credit business as well as further incorporating ESG into Apollo’s lending and other non-control investments processes. Michael currently represents Apollo across several industry initiatives, including as the inaugural Steering Committee Chair of the ESG Integrated Disclosure Project.
Michael formally served as the Global Head of ESG Portfolio Management within the Fixed Income division at Goldman Sachs Asset Management. Within that role, Michael was responsible for coordinating the ESG integration efforts across all fixed income teams as well as serving as the lead portfolio manager for ESG focused mandates.
Michael was previously on the Goldman Sachs Asset Management municipal team as a senior research analyst covering healthcare, education and distressed municipalities and was instrumental in the developing its ESG capabilities as well.
Prior to his time at Goldman Sachs Asset Management, Michael worked as a credit analyst at American Capital Access and Standard & Poor’s, focusing predominantly within the healthcare and education sectors.
17:00 – 17:05
Investment Risk closing remarks
17:05 – 19:00
Networking drinks
08:00 – 09:00
Registration and refreshments
09:00 – 11:15
Risk Live North America keynote sessions
Scene-setting keynotes kick off the day
11:15 – 11:20
Opening remarks
Mark is the Global Brand Director at Chartis and has over 30 years’ experience in global capital markets, consulting and associated technologies focusing on risk management, front and middle office platforms and data management. Prior to Chartis he has held executive roles in large global financial institutions, consultancies and FinTechs in various positions including platform and software development, solution architecture, large scale program management, vendor selection and implementation and strategy development and execution. With a background covering front, middle and back office Mark brings a holistic view of business, technology and regulatory issues across the enterprise and how these issues can be addressed by leveraging appropriate technology solutions. His primary focus has been risk technology and includes leading the global teams for risk technology at RBS Capital Markets and AIG, Middle office and front office technology teams at Barclays Capital, extensive consulting experience with major consulting organizations including EY and Deloitte together with extensive vendor experience including time at both Algorithmics and Misys (now Finastra). Mark has an MA from Oxford University and is Fellow of the Institute of Chartered Accountants in England and Wales.
11:20 – 12:00
Liquidity risk: rethinking liquidity risk after spring's banking turmoil
Panel discussion
- Understanding the limitations of regulatory requirements (the liquidity coverage ratio and net stable funding ratio) and how to supplement them with internal stress tests
- Do 'stable' deposits exist anymore?
- How to use behavioural and complementary alternative data effectively to predict customer responses
- How can banks prepare for flighty depositors?
- Treating liquidity buffers for accounting purposes
- Pricing the cost of liquidity across the business and evolving funds transfer pricing strategies during interest rate volatility
Avi is an experienced treasury risk professional with extensive leadership experience in building and leading Treasury (Asset and Liability Management (ALM), Interest Rate Risk (IRR), Liquidity, and CCAR) and market risk teams.
Avi is currently working as Head of Liquidity, Interest, and Market Risk at Apple Bank. Prior to Apple, Avi spent 7 years at BNY Mellon as Head of Treasury Market Risk. Avi also worked at Cantor Fitzgerald in various capacities in both risk and trading. Avi has an MBA from Columbia Business School and a BS from Yeshiva University.
Mark is the Global Brand Director at Chartis and has over 30 years’ experience in global capital markets, consulting and associated technologies focusing on risk management, front and middle office platforms and data management. Prior to Chartis he has held executive roles in large global financial institutions, consultancies and FinTechs in various positions including platform and software development, solution architecture, large scale program management, vendor selection and implementation and strategy development and execution. With a background covering front, middle and back office Mark brings a holistic view of business, technology and regulatory issues across the enterprise and how these issues can be addressed by leveraging appropriate technology solutions. His primary focus has been risk technology and includes leading the global teams for risk technology at RBS Capital Markets and AIG, Middle office and front office technology teams at Barclays Capital, extensive consulting experience with major consulting organizations including EY and Deloitte together with extensive vendor experience including time at both Algorithmics and Misys (now Finastra). Mark has an MA from Oxford University and is Fellow of the Institute of Chartered Accountants in England and Wales.
12:00 – 12:30
Advances in liquidity, modelling, stress-testing and scenario analysis
Presentation
- Upscale modelling and reporting capabilities with emerging technology
12:30 – 14:00
Networking lunch
14:00 – 14:45
Interest rate risk in the banking book: lessons from the new monetary policy cycle
Panel discussion
- Regulation: the required changes following the events of spring and the impact on interest rate risk management
- How to manage the economic value of equity and net interest income regulatory tests
- Hedging strategies for banking book risk
- The role of concentration risk in determining interest rate risk
- How far can historic data be used to model interest rate risk in this economic cycle – and what alternative data inputs are available?
Eric Schaanning is heading the Group Banking Book team covering Interest Rate Risk in the Banking Book for the combined UBS & Credit Suisse Group. Prior to joining UBS / Credit Suisse, Eric held various positions at the European Central Bank and Norges Bank, covering Stress Testing, Macroprudential Policy, Cyber Risk and Central Clearing among others. Eric holds a PhD in Mathematics from Imperial College London and an MSc in Mathematics from ETH Zürich.
Petr Chovanec is GWMA Banking Quantitative Analysis and Data Science Team Lead at UBS Global Wealth Management where he leads a team modeling, predicting, and optimizing the balance sheet and income statement of America’s wealth management banking. In his position, he is involved in business forecasting, strategic planning, capital optimization, and various stress testing exercises (CCAR, CECL, LPA). Before the position with UBS, he spent four years in the capital management group and in model validation of Citizens Bank (formerly RBS Citizens) and State Street. Before that, he was a front office quant in fixed income, currency, and commodities trading with State Street and ENGiE.
14:45 – 15:15
Balance sheet management optimisation amid economic instability
Presentation
15:15 – 16:00
Afternoon networking break
16:00 – 16:30
US rate and funding outlook
Presentation
- Review of the US economic, federal and rate outlooks and how this is impacting financial institutions' leveraged lending strategies
- The best rate-trading strategies in the current macro-environment
- Potential risks around funding outlooks
- What to expect next
Mark Cabana is the head of US Short Rates Strategy at BofA Merrill Lynch Global Research, based in New York. In this role, he publishes research and trade recommendations covering US short-term interest rates and macro strategy. He also meets regularly with a broad range of clients to discuss the firm's views on Fed policy, interest rates and financial regulation. He has been with the firm and in this role since 2015.
Before joining the firm, Cabana worked as an officer in the Markets Group at the Federal Reserve Bank of New York, which he joined in January 2007, analyzing global macroeconomic conditions and financial markets. Prior to that role, he was a senior trader/analyst on the Fed’s Treasury Market Policy staff.
Cabana earned a bachelor’s degree in political science and Asian studies at Furman University and a master’s degree from Johns Hopkins University in international relations. He is a CFA charterholder.
16:30 – 17:30
ALM deep-dive discussions
Engage with our speakers and delegates in peer-to-peer sessions
- Planning for changing interest rate landscapes
- Funds transfer pricing and establishing best practice funds transfer pricing approaches
- Regulation and anticipating what may change next
- Enhancing internal risk governance structures to ensure effective risk management
- Balance sheet management optimisation amid economic instability
Eric Schaanning is heading the Group Banking Book team covering Interest Rate Risk in the Banking Book for the combined UBS & Credit Suisse Group. Prior to joining UBS / Credit Suisse, Eric held various positions at the European Central Bank and Norges Bank, covering Stress Testing, Macroprudential Policy, Cyber Risk and Central Clearing among others. Eric holds a PhD in Mathematics from Imperial College London and an MSc in Mathematics from ETH Zürich.
17:30 – 17:35
ALM closing remarks
Mark is the Global Brand Director at Chartis and has over 30 years’ experience in global capital markets, consulting and associated technologies focusing on risk management, front and middle office platforms and data management. Prior to Chartis he has held executive roles in large global financial institutions, consultancies and FinTechs in various positions including platform and software development, solution architecture, large scale program management, vendor selection and implementation and strategy development and execution. With a background covering front, middle and back office Mark brings a holistic view of business, technology and regulatory issues across the enterprise and how these issues can be addressed by leveraging appropriate technology solutions. His primary focus has been risk technology and includes leading the global teams for risk technology at RBS Capital Markets and AIG, Middle office and front office technology teams at Barclays Capital, extensive consulting experience with major consulting organizations including EY and Deloitte together with extensive vendor experience including time at both Algorithmics and Misys (now Finastra). Mark has an MA from Oxford University and is Fellow of the Institute of Chartered Accountants in England and Wales.
17:35 – 19:00
Networking drinks
08:00 – 09:00
Registration and refreshments
09:00 – 11:15
Risk Live North America keynote sessions
Scene-setting keynotes kick off the day
11:15 – 11:20
Opening remarks
11:20 – 12:00
Going beyond scenario analysis: addressing climate change risks and realities
Panel discussion
- How banks are adopting climate risk scenario analysis as part of their risk management strategies
- Physical, systemic and transition risk assessments and their impacts on the financial system
- How banks can promote cross-sector collaboration and partnerships to develop climate risk strategies and incorporate new sustainability considerations into practices and decisions
Chris is a member of Milliman’s Cyber Risk Solutions (CRS) practice group. The practice delivers a portfolio of risk consulting services, such as enterprise risk design, cyber risk assessment and quantification, test and build projects, operational risk assessments, enterprise risk management (ERM) education and training, and ERM technology evaluation. The CRS practice uses diagnostic consulting strategies to understand an organization’s enterprise risk goals and challenges and then customize solutions to deliver required business results.
EXPERIENCE
Chris has 15 years of professional experience. His experience includes work in the banking, insurance, capital markets and card sectors helping clients assess and mitigate risk.
Prior to joining Milliman, Chris was a Senior Manager in Accenture’s Finance and Risk Management Consulting practice, delivering work for global financial service clients. Additionally, Chris served as an active duty Naval Officer and has multiple overseas deployments.
Professional experience and subject matter advisory includes:
- Cyber Security metrics and governance
- Financial Service Regulatory and Compliance initiatives
- Risk Management
- Corporate and Risk Governance
- Surveillance
- Financial Services operating model and cost reduction
- Regulatory remediation and responses
- Legal department risk and optimization
- Leading large cross functional projects and teams
EDUCATION
- BS Political Science, University of Wisconsin–Madison
- MBA, University of Chicago – Booth School of Business
12:00 – 12:30
The impending climate crisis: why financial risk executives must act now
Interactive panel with digital Q&A
Discuss the evolving trends and pressing issues facing banks and climate risk practitioners. In this Q&A session you will help shape the agenda, addressing the key challenges and sharing actionable insights for the banking sector.
- Analysis of the latest global climate risk trends
- Exploration of international frameworks and guidelines
- Risk mitigation approaches
- Adaptation and resilience
12:30 – 14:00
Networking lunch
14:00 – 14:45
Using technology to address climate risks: proven and effective approaches
Panel discussion
- The significance of high-quality and effective climate risk models and metrics
- Integrating advanced statistical and machine learning techniques, such as AI and data analysis
- Exploring the role of innovative and advanced technologies in considering future climate scenarios, understanding potential risks and implementing preventive measures
C. Robin Castelli
Director, Head of climate modeling analytics: Modeling change & innovation data, analytics, reporting, and technology
Citibank
CINO ROBIN CASTELLI is Director at Citi, Head of Transition Risk Model Development (Climate Modeling Analytics) supporting Citi's firmwide agenda on Climate Risk, by leading the team that is developing the models that are required to estimate the stresses to financial institutions, properties or sectors which arise from shifts in policy, consumer and business sentiment, or technologies associated with the required changes necessary to limit climate change. Prior to this position, Robin was the Business Unit Manager for Enterprise Risk Management, the area that covers, amongst other topics, Climate Risk, and the Chief Strategy Officer for Quantitative Risk and Stress Testing, the division of Risk tasked with developing all the quantitative models used for Market Risk, Counterparty Risk, Credit and Obligor Risk Analytics, Risk Capital Analytics, and Stress Testing. Robin is also co-founder and former Executive VP for Business Development at MacroUSA, in the field of Unmanned Ground Vehicles, and prior to that, co-founder, CEO and president of Macroswiss SA. Robin holds a Bachelor’s Degree and a Master’s Degree in Molecular Biology, summa cum laude, from Università degli Studi di Milano-Bicocca, with an evolutionary biology thesis on “Chromosomal rearrangements as speciation mechanisms”.
14:45 – 15:30
The global issue: climate risk and the US financial system's response
Panel discussion
- How an interdependent and interconnected global financial system impacts US banks' financial stability, performance and operations
- How the US sector develops, coordinates and implements international regulations and standards
- Emerging global risks and opportunities: risk mitigation, stakeholders global engagement and new financial products – what is next?
15:30 – 16:15
Afternoon networking break
16:15 – 17:00
Progress and challenges in addressing climate risk
Closing Keynote Panel discussion
- What are the main challenges in measuring and disclosing climate-related risks?
- How can financial institutions incorporate climate considerations into risk management frameworks and decision-making processes?
- Collaborative action in the industry: how can the industry collectively address climate risk and the transition to a more sustainable financial system?
- Implementing financing restrictions for certain activities
- The role of regulators: how can they better support, incentivise and supervise the transition to sustainable finance?
Lily Gawrych is the for the ESG modeling area at Deutsche Bank. Her other areas of focus within Model Risk Management include CCAR and qualitative review & challenge. She has previously worked in Treasury Modeling & Analytics and Risk Transformation at DB, and also has experience at a regulator and in external audit. She is certified as a SCR, FRM, and CPA, and serves on the US Board of a non-profit NGO based out of Brazil – Iracambi - focused on the preservation, restoration, and conservation of the Atlantic Rainforest. She has a 1 year old son and 2 dogs that keep her on her toes.
C. Robin Castelli
Director, Head of climate modeling analytics: Modeling change & innovation data, analytics, reporting, and technology
Citibank
CINO ROBIN CASTELLI is Director at Citi, Head of Transition Risk Model Development (Climate Modeling Analytics) supporting Citi's firmwide agenda on Climate Risk, by leading the team that is developing the models that are required to estimate the stresses to financial institutions, properties or sectors which arise from shifts in policy, consumer and business sentiment, or technologies associated with the required changes necessary to limit climate change. Prior to this position, Robin was the Business Unit Manager for Enterprise Risk Management, the area that covers, amongst other topics, Climate Risk, and the Chief Strategy Officer for Quantitative Risk and Stress Testing, the division of Risk tasked with developing all the quantitative models used for Market Risk, Counterparty Risk, Credit and Obligor Risk Analytics, Risk Capital Analytics, and Stress Testing. Robin is also co-founder and former Executive VP for Business Development at MacroUSA, in the field of Unmanned Ground Vehicles, and prior to that, co-founder, CEO and president of Macroswiss SA. Robin holds a Bachelor’s Degree and a Master’s Degree in Molecular Biology, summa cum laude, from Università degli Studi di Milano-Bicocca, with an evolutionary biology thesis on “Chromosomal rearrangements as speciation mechanisms”.
17:00 – 17:30
Climate change impacts, and the banking and financial sectors
Fireside chat
17:30 – 17:30
Climate Risk closing remarks
17:30 – 19:00