5th Annual Risk Americas 2016

5th Annual Risk Americas 2016

AMERICA’S PREMIER RISK MANAGEMENT & REGULATION CONVENTION

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Featured at Risk Americas 2016:

70+ Presenters Including:

CRO Keynote Sessions

Hear from CROs and heads of departments from buy and sell side institutions deliver insights into a broad range of strategic topics including; the role of the CRO, risk appetite, risk management in the age of volatility, machine learning for risk management, complying to national and global regulators and data quality analytics.

Stress Testing and Model Risk

Senior stress testing and model risk professionals deliver insightful presentations and interactive panel discussions around key areas within stress testing and model risk, including: CCAR overview, aligning CCAR & DFAST, regulatory challenges, data, sound model risk practice, PPNR modeling and model risk frameworks.

Liquidity Risk and Capital Management

NEW for 2016, the liquidity risk & capital management stream will feature heads of departments and regulatory bodies discussing regulatory changes within Liquidity risk and capital management and reviewing the interaction between the two areas. Topics include; LCR, NSFR, TLAC, interest rate risk, basel III capital rules, capital planning, lines of defense and many more.

Operational Risk

NEW for 2016, Risk Americas 2016 will feature a stream dedicated to operational risk and the evolving regulatory landscape. The stream will feature a comprehensive range of subject matters with insights from senior professionals across both days. Topics include: regulatory agenda, operational risk frameworks, governance, KRIs, cyber crime, data challenges, RCSA and more.


May 5 – Model Risk Management Masterclass

Back by popular demand!

The Model Risk Management Masterclass will be returning for 2016 with an updated agenda and guest speakers.

The Masterclass will be led by Jon Hill, Executive Director, Morgan Stanley alongside guest speakers to deliver presentations, discussion points, case studies and group activities. The focus of the Masterclass will be around the validation methodology based on the regulatory requirements set down in SR 11-7.

Join like-minded peers to review the validation methodology under SR11-7 and review case studies and presentations from he course leader and guest speakers.

Model Risk Masterclass

May 5 – Stress Testing Masterclass

The Masterclass will be led by industry expert Soner Tunay, SVP, Risk Analytics, Citizens Bank who will lead the day’s agenda with presentations, case studies and group discussions.

The Masterclass will address challenges within Stress Testing with a particular focus on PPNR Modeling, Scenario Selection and Analysis.
Join like-minded colleagues to discuss new modeling techniques, CCAR results, application in banks, scenario designs and development, credit loss modeling, PPNR modeling, and applications of stress testing on portfolio management.

Stress Testing Masterclass

Welcome to Risk Americas 2016!

The Center for Financial Professionals are delighted to release the agenda for the 5th Annual Risk Americas Convention taking place May 3-4, 2016, featuring new topics, speakers and venue. We have a new location for 2016, centrally located in Manhattan at The Hilton Midtown, Avenue of the Americas.

Firstly, we would like to thank the Blue Ribbon Panel for their insight, expertise and ongoing support and assistance; Peter Aerni, Bank of America; Patricio Contreras, Morgan Stanley; David D’Amico, Mitsubishi UFJ; Tom Day, PwC; Jon Hill, Morgan Stanley and Christian Pichlmeier, Union Bank. The Blue Ribbon Panelists are joined by over 70 senior financial risk professionals to share their insights, case studies and expertise across the two days.

The 2016 Convention will feature two days of extensive discussions, learning and networking with some of the industry’s most highly regarded professionals. The Convention will open on each day with keynote discussions with CROs and regulatory representatives to discuss the broader, strategic topics, before breaking off into three streams; Stress Testing, Liquidity Risk & Capital Management and Operational Risk. The Convention is designed to deliver a custom made experience, participants can attend a single stream that will run across both days, or cut across streams to gain broader insight; as sessions start and finish at the same time.

The 5th Annual Risk Americas Convention allows for unprecedented networking opportunities, with refreshment breaks across the two days, luncheon round-table discussions featuring 10+ tables to participate in, allowing for further discussion with industry professionals. Day One will conclude with a networking drinks reception, a perfect opportunity to carry on the discussions of the day in a more informal setting with drinks and canapés served. The convention will also feature an exhibition hall to interact and discuss with the industry’s top solution providers in areas addressed across the two days.

We look forward to welcoming you to the 5th Annual Risk Americas Convention in May 2016.

Andreas Simou
Risk Americas Program Director
andreas.simou@cefpro.com

Alice Kelly
Risk Americas Program Director
alice.kelly@cefpro.com


New York Hilton Midtown
1335 Avenue of the Americas

New York, NY 10019, US

Preferential Rate Available:
Limited rooms at the venue hotel, the Hilton Midtown, to ensure you gain the preferential rate, reserve your room while you can. All rooms are on a first come, first served basis.

Click here to book or call 212-586-7000

CPE LogoEarn up to 24 CPE Credits

Prerequisites: Knowledge of Financial risk management
Advanced Preparation: No advanced preparation is required
Program Level: Intermediate to advanced
Delivery Method: Group-live

The Center for Financial Professionals is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have nal authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org

Attendees can earn up to 16.5 CPE Credits for the Main Convention (May 3-4), up to 7.5 CPE Credits for the Stress Testing Masterclass (May 5) or up to 7.5 CPE Credits for the Model Risk Masterclass (May 5)

View Main Convention Agenda

Risk Americas BrochureDownload the Risk Americas 2016 PDF Brochure

The Risk Americas 2016 Convention features over 70 CROs and Head of Risks, includes three streams across two days, and also features a further two masterclasses. Download the print friendly PDF brochure today to review with your team. The PDF also includes the agenda at a glance for easy reading and review.

Click here to download

Keep Updated on Agenda Changes and Speaker Additions

Interested in Risk Americas but not ready to register? Click here to keep updated.Email-icon

2016 Sponsorship and Exhibition

Can your organisation contribute at Risk Americas 2016 Convention?

Please contact the Center for Financial Professionals today to discuss how we can deliver your thought-leadership at the event, help you generate leads, and provide you with unique networking and branding opportunities. Just some of the opportunities available include:

  • Deliver a thought-leadership presentation, either as a stand-alone or alongside an existing presenter/practitioner
  • Enjoy a physical presence at the event, in the form of an exhibition stand
  • Network with our attendees during each of the many networking breaks taking place throughout the day
  • Directly deliver white papers, reports, promotional material, small gifts and any other items of thought-leadership you may have.
  • Host an exclusive Breakfast Briefing
  • You will enjoy prominent branding relating to your status as a valued supporter of our event.

Please contact sales@cefpro.com or call us on +1 888 677 7007 / +44 (0)20 7164 6582 where a member of the team will be happy to tailor the right package for you.

Nicholas Silitch

Group CRO

PRUDENTIAL



Anthony Peccia

Group CRO

CitiBank Canada



Mervyn Naidoo

COO, Risk Analytics

Morgan Stanley



James Costa

CRO

TCF Bank



Bogie Ozdemir

CRO

Canadian Western Bank



Jacob Rosengarten

EVP, Chief Enterprise Risk Officer

XL Capital



Yury Dubrovsky

CRO

Lazard Group



Aaron Brown

CRO

AQR Capital



Jay Cook

CRO

Lloyds Banking Group



Federico Galizia

CRO

Inter American Development Bank



Philippa Girling

CRO

Investors Bank



Cynthia Williams

CRO, Regulatory Coordinator

Credit Suisse



Risk Americas speakers
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Risk Americas 2016: Day One

8.00am Registration

8.35am Chair’s Opening Remarks

Keynote Sessions

8.40am Reviewing The Role Of The CRO Across The Institution

The panelists will discuss their roles with perspectives from different sized institutions.

Jay Cook, CRO, Lloyds Banking Group
Yury Dubrovsky, CRO, Lazard Group
Aaron Brown, CRO, AQR Capital
Daniel Harty, CRO, PNC tbc

9.25am Risk Management In The Age Of Volatility

This presentation aspires to explore some of the key drivers that underlie this “Age of Volatility.”

Jacob Rosengarten, Executive Vice President and Chief Enterprise Risk Officer, XL Capital
Mervyn Naidoo, COO, Risk Analytics, Morgan Stanley

10.10am Machine Learning For Risk Management

Understanding and reviewing the effect of machine learning in
risk management, allowing computers to look for what may not be possible for humans.

Anthony Peccia, Group CRO, CitiBank Canada

10.40am Morning Refreshment Break & Networking

Stress Testing & Model Risk Stream

Liquidity Risk & Capital Management Stream

Operational Risk Stream

2016 CCAR OVERVIEW- PANEL DISCUSSION
11.10am Reviewing And Analyzing The 2016 CCAR Results And Overview Of The Process

  • Reviewing 2016 tests
  • Automating the process towards 2017
  • Sustainable solutions moving forward
  • Reviewing results and moving towards 2017

Patricio Contreras, Head of Stress Testing Methodology, Morgan Stanley
Soner Tunay, Head of Risk Analytics, Citizens Bank
Peter Abken, VP, Model Risk, Federal Reserve Bank of New York

REGULATORY OVERVIEW- PANEL DISCUSSION
11.10am An Overview Of The Liquidity Risk Landscape Across Global And National Regulators

  • Definitions and interpretations across regulators
  • Influx of changes across liquidity landscape
  • Reviewing the structure regulators expect across business lines
  • Application across borders

Christian Pichlmeier, Head of Liquidity Risk, MUFG Union Bank N.A.
Jonathan Tholen, Liquidity & Capital Oversight, US Bank
(tbc)
Senior Executive, Treasury, China Construction Bank New York

REGULATORY OVERVIEW- PANEL DISCUSSION
11.10am An Overview Of The Regulatory Agenda On Operational Risk

  • Regulatory update on key areas of focus:
    • Cyber security (resiliency)
    • Operational Risk Capital – proposed AMA changes
    • Payments system activities

(tbc) Senior Executive, OCC
Gustavo Ortega,
Director and Global Head of Issue and Risk Event Management, AIG

CCAR AND DFAST PROCESSES
11.50am Aligning CCAR & DFAST Stress Tests To Run With Minimal Duplication Of Efforts

  • Running both stress tests without significant overlaps
  • Developing systems and tests for specific entity use
  • Developing bespoke models for CCAR and DFAST to automate the process

Steve Zhou, Director, Stress Testing Methodologies, GE Capital

11.50am A Look Into The Volcker Rule And The Impact On Non Trading Activity

  • Impact on banking and trading activities
  • Contract between spread: Safety and soundness
  • Treasury function
  • Effect on ALM and liquidity
  • Balance sheet optimization
  • Effect on both larger and smaller institutions

Tally Ferguson, SVP, Director of Market Risk Management, Bank of Oklahoma

GOVERNANCE
11.50am Establishing An Effective Governance Structure To Better Account For Operational Risks

  • Putting the operational risk accountability where it belongs
  • Ensuring sound governance for escalating operational risks
  • Moving away from noise while focusing on key risks and controls
  • Understanding the causes, impacts and value of operational risk management

Gustavo Ortega, Director and Global Head of Issue and Risk Event Management, AIG

12:25pm Lunch Break & Networking

Round Table Discussions

Lunch on Day One break will feature an opportunity to engage with like-minded professionals, enjoy a buffet lunch, visit the exhibitors and then have an opportunity to join one of more than 12 Round Table Discussions. All registered attendees will be asked within two weeks of the Convention to select their Luncheon Round Table Discussion. These are designed to be engaging and interactive, open to all attendees – come prepared with your questions and opinions!

Aaron Brown
Anthony Peccia
Bogie
RT Christian P
Frederico
Karen Schneck
Mervyn Naidoo
Tally Ferguson

RT Jon Hill
Elizabeth hughes

PANEL DISCUSSION
1.45pm Understanding Regulatory Expectations Across National and Global Regulators for Stress Testing Process

  • Subjective views leave results open to further criticism
  • Level of expectation raised by regulators:
    • System implementation
    • Automating process
    • Enterprise wide stress test

Kresimir Marusic, MD, CCAR Lead, Deutsche Bank
Jorge Fonseca, Head of Enterprise Stress Testing, HSBC Securities

PANEL DISCUSSION
1.45pm Effectively Preparing For Upcoming TLAC Implementation And The Effects On Balance Sheet To Financial Institutions

  • Effect on balance sheet structure
  • Update on implementation process
  • Working alongside LCR- does TLAC trump LCR?
  • Impact on debt and equity holders
  • Reviewing the changes in pricing debt

PANEL DISCUSSION
1.45pm Developing Effective Operational Risk Frameworks To Help Mitigate The Risk

  • Identifying operational risk
  • Effective modeling of operational risk
  • Monitoring and reporting
  • Understanding differences in business models:
    • Running and adjusting risk management routines
    • Front office capabilities
    • Data governance

Jodi Richard, Chief Operational Risk Officer, US Bank
Andrew Kramer,
Head of Operational Risk, TIAA-CREF
Clarice Carotti,
Head of Market, Liquidity & Operational Risk, Intesa Sanpaolo New York Branch
Paulomi Shah, Head of Operational Risk, Global Banking and Markets, Bank Of America 

2.25pm Reviewing And Understanding Differences In Internal And Regulator Stress Testing Results

  • Overcoming internal bias
  • Understanding where the differences lie
  • Reviewing regulatory results
  • Reviewing internal results

LCR Presentation A
2.25pm Understanding The Expectations And Key Deliverables Across LCR Implementation

  • Key Components of the LCR and the challenge of implementing them
    • Operational vs non-operational deposits
    • Credit vs Liquidity Facilities
    • Insured vs non-insured deposits
  • How can the LCR be used to leverage internal stress testing
    • How should the two be different?
    • How is the liquidity buffer determined?
    • Binding contraint discussion
  • Liquidity reporting: LCR / 2052a / Internal Stress Testing, how to find a cohesive approach?

Christian Pichlmeier, Head of Liquidity Risk, MUFG Union Bank N.A.

2.25pm Creating A Forward Looking Risk Culture Focusing On Cause And Consequence

  • Working with lines of business to identify events when they happen
  • Ensuring events are identified at the source to effectively report, capture and distil in management reports
  • Lessons learned from operational failures

3.00pm Developing Frameworks To Effectively Conduct Enterprise Wide Stress Testing For Better Understanding Of Scenarios

  • Stress testing across the enterprise
  • Reviewing governance structure
  • Governance of scenarios across front and center managers
  • Warehousing scenarios:
    • Capital
    • Resolution Planning
    • Liquidity

Manan Rawal, Head of Scenarios and Modeling, CCAR & Stress Testing, HSBC

LCR Presentation B
3.00pm Understanding The Expectations And Key Deliverables Across LCR Implementation 

  • Key Components of the LCR and the challenge of implementing them
    • Operational vs non-operational deposits
    • Credit vs Liquidity Facilities
    • Insured vs non-insured deposits
  • How can the LCR be used to leverage internal stress testing
    • How should the two be different?
    • How is the liquidity buffer determined?
    • Binding contraint discussion
  • Liquidity reporting: LCR / 2052a / Internal Stress Testing, how to find a cohesive approach?

Alex Tsigutkin, CEO, AxiomSL

3.00pm Developing And Identifying Forward Projecting Key Risk Indicators And Integrating Into Risk Management Framework

  • Leading rather than lagging indicators
  • Ensuring framework is predictive in nature
  • Implementing a standardized framework
  • Understanding how KRIs link to scenario planning, stress 
testing and capital planning

Philip Gledhill, Supervising Examiner, Federal Reserve Bank of New York

3.35pm Afternoon Refreshment Break & Networking

CAPITAL BUFFER
4.05pm Approaches For Determining The Capital Model Uncertainty Buffer

  • Reviewing FRB guidance
  • Accounting for errors in CCAR capital ratio projections
  • Model risk of adding “Uncertainty Buffer”

Douglas Gardner, Head, Model Risk Management, Americas; Senior Vice President, BNP Paribas & BancWest

NSFR
4.05pm Reviewing Progress Towards NSFR Implementation And Its Interaction With Other Regulatory Demands

  • Timelines for implementation
  • Effect on balance sheet
  • Interaction with other regulations:
    • LCR
    • TLAC
  • Reviewing top down approach

Matthieu Royer, Head of ALM & CPM, Americas, Credit Agricole CIB

RCSA
4.05pm Risk And Control Self-Assessment: Identifying Risks And Effectively Allocating Across Business Lines

  • Deciphering different interpretations
  • Allocating to business lines
  • Basel requirements
  • Use of excel spreadsheets
  • Stakeholder buy-in
  • Building sound controls

Deborah Hrvatin, MD, Head Operational Risk Management, Deutsche Bank

4.40pm Using Models For Effective Risk Identifcation

  • Identifying all risks
  • Using internal scenarios that reflect risk
  • Linking risk factors to models
  • Identification for use within stress testing

4.40pm Effectively Monitoring Liquidity Under The Federal Reserve Guidelines Set Out in 2052a

  • Daily liquidity reporting
  • Horizon time buckets
  • Looking over 5 years with weekly, 60 day and quarterly outlooks
  • Running parallel to Basel requirements

4.40pm Execution Risk: Managing Projects With Limited Resources

  • Limited SMEs
  • Managing people and projects
  • Delivering on strategy

CONTROLS
5.15pm Understanding How Best To Represent Controls And Effects Of CFO Attestation Under CCAR

  • Attestation and identification of controls
  • Control effectiveness
  • Data:
    • Integrity
    • Model controls
    • Interpretation of regulation
  • CFO attestation of CCAR templates
  • Effectiveness of controls around accuracy of CCAR filing
  • Ensuring projections based on accurate information
  • Increasing role of internal audit coverage of CCAR

INTEREST RATE RISK
5.15pm A Forward Look To The Potential Systemic Impact Of Interest Rate Risk

  • Managing the risk
  • Preparing for the potential effects
  • Best practice
  • Banking book Vs. trading book
  • Controls and business models
  • Data management

William Kugler, Chief Market & Liquidity Risk Officer, Capital One

COMPLIANCE
5.15pm Establishing The Relationship Between Operational Risk And Compliance

  • Where each reports
  • Where each fits within the organization
  • Integrating aspects of operational risk and compliance
  • Assessing the impact of each on the business

5.50pm Chair’s Closing Remarks

6.00pm End of Day One & Networking Drinks Reception

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Model Risk Masterclass
Stress Testing Masterclass
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Day Two

8.00am Registration

8.30am Chair’s Opening Remarks

Morning Keynote Sessions

8.40am Data Quality Analytics And Effective Risk Management

A View from the CDO on improving data quality for effective management of risk

H Walter Young, Chief Data & Liquidity Risk Officer, M&T Bank
Kay Vicino, Chief Data Officer, U.S. Bank

9.25am Assessing The Role And Development Of An Effective Risk Appetite Within A Financial Institution: The View From The CRO

Exploring application across frameworks and effects on balance sheet and business lines

Nicholas Silitch, Group CRO, Prudential Financial

9.55am Overcoming Challenges in Regulatory Guidance Across National and Global Regulators

Federico Galizia, CRO, Inter American Development Bank
James Costa, CRO, TCF Bank
Philippa Girling, CRO, Investors Bank
Cynthia Williams, CRO, Regulatory Coordinator, Credit Suisse

10.40am Morning Refreshment Break & Networking

Stress Testing & Model Risk Stream

SCENARIO ANALYSIS
11.10am Effective Scenario Analysis for CCAR & DFAST

• Lack of historical data
• Building models
• Macro economic variables
• More condensed and faster process

Eva Chan, Enterprise Stress Testing Executive, Barclays

Liquidity Risk & Capital Management Stream

MARKET RISK
11.10am Market Risk In The Post Crisis Environment

  • Regulatory changes and impact
  • Charting new territories in market behavior
  • Independent market risk
  • Impact of market events
  • ‘Response to global market events

Karen Schneck, VP, Market Risk Department, Federal Reserve Bank of New York

Operational Risk Stream

11.10am Outsourcing Governance, Monitoring And Risk Management

  • Vendor portfolio analysis
  • Internal sourcing validation and governance
  • Straight through processing
  • Control function review process
  • Cross functional risk calibration
  • Behavioral analytics and dynamic decisioning
  • Escalating and reporting

John Bree, MD, Global Head of Vendor Risk Management, Deutsche Bank

DATA RISK

11.45am Reviewing The Data Requirements And Potential Data Risk Throughout The Stress Testing Process

  • Effective back testing of data:
    • Sourcing
    • Inputting into models
  • Quality assurance
  • Requirements from
  • Ensuring clean granular data for model accuracy

MULTILATERAL DEVELOPMENT BANK
11.45am Exposure Exchange Agreements (EEA) Among MDBs

  • Why concentration matters for an MDB
  • How does the EEA reduce concentration
  • Does he EEA introduce risks of its own

Federico Galizia, CRO, Inter American Development Bank

11.45am Reviewing The Implications Of The FFIEC Self Assessment Tool And The Impact On Resources

  • Measuring maturity against risk profile
  • Scoring questions within self assessment tool
  • Mapping and aligning within framework
  • Industry complaints of the tool
  • Time and resource constraints

12.20pm Lunch Break & Networking

MODEL RISK & MODEL RISK AGGREGATION
1.20pm Reviewing The Origins And Comprehensive History Of Model Risk

  • Model risk has been a constant companion to human endeavor for a very long time
  • An abbreviated review of model risk covering 35,000 years and 35 million miles of time and space.
  • Insight into the historical nature and origins of all models, and the resulting inevitability of model risk
  • Understand what model risk is, and what it isn’t
  • Forces and events that have propelled model risk into the forefront of modern financial risk management
  • Today’s most effective, industry-proven methods for mitigating model risk

Jon Hill, Executive Director, Morgan Stanley

CAPITAL MANAGEMENT
1.20pm Overview Of Basel III Capital Rules And Implementation Across Various Sized Financial Institutions

  • Overview of expectations
  • Implementation across financial institutions
  • Differentiation between top 50 and below
  • Segmenting regulatory scheme
  • Global differences in regulatory definition
  • Additional capital requirements

Michelle Hubertus, MD, Basel III Program Manager,
Deutsche Bank

CYBER SECURITY
1.20pm Analyzing The Cyber Aspects Of The Regulatory Landscape

  • Changing threats across the cyber crime landscape:
    • Threat information sharing
    • Destructive malware
    • Denial of service

Michael Woodson, Director, Office of the CISO , State Street
Cyber Security Partnership Expert, US Bank (tbc)

2.00pm Choosing The Right Models To Comply With Regulatory Demands For Stress Testing

  • Effective building of regulator approved models
  • Segmentation of models
  • Ensuring transparency of models
  • Establishing a governance structure
  • Internal Vs. External Models
  • Reviewing modeling approaches
  • Determining model complexity Vs. simplicity

Julian Philips, Chief Model Risk Officer, GE Capital-tbc

2.00pm Aligning Teams Across Capital Planning And Modeling To Avoid Duplication Of Efforts

  • Duplicating department efforts
  • Defining clear roles for each for effective capital planning
  • Sourcing data for each and effectively aggregating and submitting

Michele Bourdeau, Head of Model Risk Management, TIAA-CREF

DATA

2.00pm Best Practice For Mitigating The Threat Of Data Breaches In An Evolving Cyber Landscape

  • Case studies
  • Ensuring sufficient protection
  • Safeguarding against third parties
  • Reputational Risk

2.35pm Sound Model Risk Practice For Effective Stress Testing

  • Credit risk challenges
  • PPNR
  • Trading

Agus Sudjianto, MD, Head of Corporate Model Risk, Wells Fargo

2:35pm Reviewing The Roles of The Lines of Defense

  • Reviewing the roles of each line
  • How each line works
  • Reviewing The Roles of The Lines of Defense
  • Review of the fourth line

Jonathan Tholen, Liquidity & Capital Oversight, US Bank

2.35pm Effectively Aggregating The Right Metrics Across Legal Entities

  • Bringing legal entities together
  • Delivering a holistic view across metrics
  • Common metrics across business models

David D’Amico, Director, ERM, MUFG Union Bank N.A.

3.10pm Afternoon Refreshment Break & Networking

PPNR MODELING- EXTENDED PRESENTATION & PANEL

3.40pm Addressing The Challenges, Pitfalls And Opportunities For Effective PPNR Modeling

Gary Tognoni, Head of Stress Testing Execution, Treasury and Balance Sheet Management, TD Bank-tbc

Serigne Diop, CCAR & Stress Testing, HSBC

David Ingram, Head of Treasury Risk Strategy, Modeling & Policy, Citi

3:40pm Improving Data To Optimize The Balance Sheet And Improve Earnings

  • Using data as a tool
  • Sourcing necessary data
  • Improving data

H Walter Young, Chief Data & Liquidity Risk Officer, M&T Bank

3.40pm Evolution Of Internal Control Validation As A Key Element Of The Enterprise Risk Management Framework

  • Basel III advanced approaches for regulatory capital
  • CROs responsibility for independent review and control testing
  • Lines of defense
  • Expectations for validation and testing across unknown areas

Elizabeth Hughes, Director, ERM Validation and Advanced Systems Review, MUFG Union Bank N.A.

PANEL DISCUSSION

4.15pm Review Outcomes of the PPNR Presentation

Gary Tognoni, Head of Stress Testing Execution, Treasury and Balance Sheet Management, TD Bank
Serigne Diop, CCAR & Stress Testing, HSBC
David Ingram, Head of Treasury Risk Strategy, Modeling & Policy, Citi

3.40pm Developing A Comprehensive Framework For Capital And Business Mix Optimization: A Case Study

  • Co-managing multiple constraints for capital (economic capital and regulatory capital and stress testing)
  • Identifying effective risk strategies to inform corporate strategy and improve ROE
  • Moving from capital management to business mix optimization
  • Managing near-term losses by means of EaR metrics and implications on the business mix

Bogie Ozdemir, CRO, Canadian Western Bank

4.15pm Integrating Operational Risk into Business Strategy and Adding Value

  • Consistency of standard process to implement across the business
  • Ensuring flexibility in staff and processes to adapt
  • Using operational risk to better manage risks
  • Evaluating how to feed operational risk management intothe business strategy
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Model Risk Masterclass
Stress Testing Masterclass
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4.50pm Chair’s Closing Remarks

5.00pm End of Convention

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Masterclass: Model Risk – May 5

Led by: Jon Hill, Executive Director, Morgan Stanley

Jon Hill

Jon Hill is an Executive Director at Morgan Stanley with over eighteen years of experience in various areas of quantitative finance. He is currently the Global Head of the Market and Operational Risk Model Validation team at Morgan Stanley comprised of 7 Ph. D. and Masters level quants in New York and Budapest. Jon’s team is responsible for the ongoing validation of all Morgan Stanley market and operational risk models, including Value at Risk (VaR), Stressed VaR, Incremental Risk Charge, Comprehensive Risk Measure and the Advanced Measurement Approach model for Operational Risk. Jon’s team is also responsible for validating the use of these models for the annual regulatory CCAR and DFAST stress test exercises.

To allow for the group activities, exercises and interaction, seats for the masterclass are limited – To avoid disappointment, reserve your seat today!

Agenda

08:30 Registration and Breakfast


9:00-10:30 AM The Complete History of Model Risk – Abridged

  • A survey of the omnipresence of model risk across 35,000 years and 35 million miles of time and space.

10:30-10:50 AM Coffee Break


10:50-12:00 Regulatory Guidelines and Requirements for Model Validation


12:00-1:20 PM Lunch Break


1:20-2:20 PM Model Validation Best Practices

  • Practical advice for working with model owners and presenting findings.
  • Best practices for navigating regulatory exams.
  • Implications for CCAR/DFAST validations.

2:20-3:20 PM Case Studies in Model Validation; How To Resolve
“The Validator’s Dilemma”


3:20-3:40 PM Coffee Break


3:40-4:30 PM Case Study of The London Whale Dystopia

  • Examination of a perfect storm of technical, managerial and cultural failings resulting in a major market risk model that should never have been approved for production.

4:30-5:15 PM Video Highlights from the March 15, 2013 Senate Panel Hearings on the London Whale
5:15-5:30 PM: Wrap-Up of Master Class and Farewell.


Mr Hill – It is a few months later, but even more so I wanted to show appreciation for your model validation masterclass. It was very well thought out and a pleasure to attend and learn from. It was so good, I sometimes thought of you as a regulator!

– FDIC regulator

Not enough people have the imagination and vision to take something as seemingly dry as model validation and make it a holistic, eclectic, interdisciplinary adventure.

– Risk Manager, Federal Home Loan Bank of New York

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Stress Testing Masterclass – May 5

Led By: Soner Tunay, SVP, Risk Analytics, Citizens Bank

About the masterclass
The Masterclass will be led by industry expert Soner Tunay, SVP, Risk Analytics, Citizens Bank who will lead the day’s agenda with presentations, case studies and group discussions. The Masterclass will address challenges within Stress Testing with a particular focus on PPNR Modeling, Scenario Selection and Analysis.

Join like-minded colleagues to discuss new modeling techniques, CCAR results, application in banks, scenario designs and development, credit loss modeling, PPNR modeling, and applications of stress testing on portfolio management.

Registration opens at 9AM with breakfast, Masterclass commences at 9:30AM, concluding at 5PM. There will be adequate time for refreshments, networking and lunch. To allow for interaction and discussion, seats at the Masterclass are strictly limited – to avoid disappointment, reserve your place today!

Agenda

Stress Test – New Modeling and capital Management Paradigm

  • A short history of Stress Test as a bank capital management tool
  • Comparison to Basel rules and modeling approach
  • How Stress Testing is compared to Economic Capital

Highlights of the CCAR Results

  • Lessons learned
  • Regulatory expectations
  • Priorities for a bank preparing for CCAR submission

Applications of Stress Testing in Banks

  • Portfolio allocation and pricing
  • Capital adequacy
  • Risk appetite

Scenario Design and Development for successful Stress Testing

  • Risk identification
  • Key risk drivers and key macro variables to capture in modeling
  • Scenario extension
  • Use of macroeconomic models in scenario design and expansion
  • Determining the severity of scenarios
  • Linking scenario severity to capital adequacy

Introduction to Credit Loss Modeling

  • Available alternatives in modeling consumer portfolio
  • Empirical review of alternatives currently available in the literature
  • A walk through the applications in commercial portfolios
  • Comparative analysis of each alternatives in the literature

PPNR Modeling

  • Connecting PPNR with credit modeling for an integrated Stress Testing framework
  • Regulatory expectations
  • Introduction to PPNR modeling with examples
  • CCAR results in PPNR and relevance to capital adequacy
  • Review of terms and concepts

Applications of Stress Testing Framework in Portfolio Management

  • Hands on exercises
  • Product origination strategies
  • Pricing considerations
  • Risk/return trade off
  • Linking Stress Test results to risk appetite and risk taking
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Peter Abken

Federal Reserve Bank of New York

VP, Model Risk



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Peter Abken is Deputy Head of the Model Risk Department within the Financial Institution Supervision Group at the Federal Reserve Bank of New York. His responsibilities include supporting regulatory examinations of the largest domestic and foreign financial organizations in the US, with principal focus on institutions in the Second Federal Reserve District. Prior to rejoining the Federal Reserve in August 2015, Peter had been Capital Model Validation Leader at GE Capital and a Model Risk Officer at Bank of America. Earlier in his career, he was a financial economist at the Federal Reserve Bank of Atlanta and Comptroller of the Currency.

Michele Bourdeau

TIAA-CREF

Head of Model Risk Management



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Michele Bourdeau will be participating at Risk Americas 2016

John Bree

Deutsche Bank

MD, Global Head Vendor Risk Management



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John joined Deutsche Bank Corporate Security & Business Continuity in London on January 3, 2012 from Citicorp in New York where he managed the Global Data Privacy teams for Citi’s Operations & Technology Division.

He started his DB career as the Global Head of Anti-Fraud and Forensics and in 2013 transitioned to lead the Global Investigation and Forensics function and the Project Support Program. He repatriated to the US in October 2014 and is currently the Global Head of Vendor Risk Management.

John has over 42 years experience in financial institution operations, asset protection, loss avoidance and investigations, having held a number of senior roles in Asia and the Americas, including:

Regional Director AML – Citibank GTS Risk Asia Pacific Regional Director AML – Citibank Japan
Director, Fraud Risk Management – Citibank North America Corporate Security Director – Midlantic Banks Inc.

Security Director – Provident National Corporation.

John is a member of the CSBC Executive Committee; DB Group Information Security Committee (Group ISEC) and DB Vendor & Intra Group Outsourcing Governance Committee (VIGO).

He has lectured internationally on AML, Internal & External Fraud Investigation, Fraud Detection Technology, Predictive & Behavioral Analytics, Physical Security and Relational Metrics.

Aaron Brown

AQR Capital

Chief Risk Officer



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Aaron is AQR’s Chief Risk Officer, conducting independent oversight and monitoring of the risks assumed by portfolio managers. In February 2012, the Global Association of Risk Professionals named Aaron Risk Manager of the Year. He is the author of Red-Blooded Risk (Wiley 2012) and The Poker Face of Wall Street (Wiley 2006), which BusinessWeek selected among 10 best books of 2006. He also co-wrote A World of Chance (Cambridge University Press 2008). Prior to AQR, Aaron was an executive director in risk methodology at Morgan Stanley. He earned an S.B. in applied mathematics from Harvard University and an M.B.A. from the University of Chicago.

Clarice Carotti

Intesa San Paolo New York Branch

Head of Market, Liquidity & Operational Risk Management



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Clarice Carotti will be participating at Risk Americas 2016

Patricio Contreras

Morgan Stanley

Head of Stress Testing Methodology



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Patricio Contreras will be participating at Risk Americas 2016

Jay Cook

Lloyds Banking Group

CRO



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Jay Cook will be participating at Risk Americas 2016

James Costa

TCF Bank

CRO



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James M. Costa is Chief Risk Officer of TCF Financial Corporation overseeing TCF’s enterprise risk management function. Mr. Costa joined TCF in 2013.

Mr. Costa brings with him 25 years of financial services experience, with 15 years in risk management. He most recently served as Executive Vice President of Risk and Head of Enterprise Portfolio Management at PNC Financial Services Group, Inc. Prior to PNC, Mr. Costa led enterprise credit strategy for Wachovia Corporation.

A graduate of Ohio State University, Mr. Costa holds a BSBA degree in Economics. He further conducted his doctoral studies at the University of Minnesota where he was an adjunct professor of finance and economics.

David D'Amico

MUFG Union Bank N.A.

Director, ERM



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David works on the Enterprise Risk Management team and is responsible for Risk Reporting and Risk Inventory and is the Secretary for the Enterprise Risk Management Committee. Previously he worked in the Americas Holdings Division where his responsibilities included improving reporting processes, designing innovative reports for more effective risk identification and creating a more robust data gathering and reporting platform in order to report credit risk holistically across all MUFG Americas entities. He also was the Head of Credit Risk Reporting for MUFG Union Bank N.A. with teams in NY and SF.

Prior to joining MUFG, David spent over 22 years with JPMorgan and predecessor institutions in a variety of roles in Operations, Middle Office, Loan Syndications, Credit Risk Technology, Credit Risk Reporting, and Finance & Business Management.

Serigne Diop

HSBC

CCAR & Stress Testing



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Serigne Diop will be participating at Risk Americas 2016

Yury Dubrovsky

Lazard Asset Management

Chief Risk Officer



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Yury Dubrovsky is a Managing Director, Chief Risk Officer of Lazard Ltd. and Head of Global Risk Management at Lazard Asset Management LLC. He and his global teams are responsible for all aspects of risk management at the bank as well as at its fully owned asset management subsidiary, covering equity and fixed income universes for both traditional as well as alternative investments. In addition, Yury is in charge of the quantitative analysts who provide support to portfolio management teams on portfolio construction issues, execute the initial phase of the research process and provide portfolio attribution analytics. He began working in the investment field in 1994. Prior to joining Lazard in 2005, Yury was Global Head of Market Risk Management for Emerging Markets and G20 Credit Products with Credit Suisse First Boston, Global Head of Exposure Management for Emerging Markets and Regional Head of Exposure Management for the Americas with Deutsche Bank AG. Before joining Deutsche Bank in New York in 1995, Yury was associated with JP Morgan & Co., AT&T and Kiev Polytechnic University in quantitative and technological capacities. He has an MBA in Finance from St. John’s University and MS (Hons) in Mechanical Engineering from Kiev Polytechnic University. Yury is a member of the CFA Institute, New York Security Analysts Society, International Association of Financial Engineers, Global Association of Risk Professionals and Professional Risk Management Association.

Tally Ferguson

Bank of Oklahoma

SVP, Director of Market Risk Management



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Tally Ferguson is the Director of Market Risk Management at BOK Financial, responsible for enterprise wide market risk monitoring, model risk analysis and validation and coordinating the corporate insurance program.

Previously, he was a regulatory consultant for Ernst & Young. Mr. Ferguson began his career as an international bank examiner with the Federal Reserve Bank of New York. Mr. Ferguson has a BA in Economics and Mathematics from Yale University and an Executive MBA from the Wharton School: He is a CFA charterholder and adjunct instructor at the University of Tulsa.

Jorge Fonseca

HSBC Securities

Head of Enterprise Stress Testing



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Jorge Fonseca will be participating at Risk Americas 2016

Federico Galizia

Inter-American Development Bank

CRO



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Federico Galizia is the CRO of the Inter-American Development Bank. Before joining the IDB, he served as Head of Risk and Portfolio Management and Chairman of the Investment and Risk Committee at the European Investment Fund in Luxembourg. He was previously Deputy Division Chief in the Monetary and Capital Markets Department of the International Monetary Fund in Washington, D.C., and Adviser to the President of the European Investment Bank in Luxembourg. Federico holds a Ph.D. in Economics from Yale University, and is the editor of “Managing Systemic Exposure: A risk management framework for SIFIs and their markets”, published by Risk.

Douglas Gardner

BNP Paribas & BancWest

Head, Model Risk Management, Americas; Senior Vice President



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Doug leads the development and implementation of the model risk management program for the combined US operations of BNP Paribas, where he oversees the validation of a wide variety of models including those used for enterprise-wide stress testing.

He previously led the development of the model risk management function at Wells Fargo, including oversight of models used in capital markets and for economic and regulatory capital.  Before that, he led the Financial Engineering team at Algorithmics, where he developed models and analytics for market and counterparty risk.

Doug holds degrees in Systems Design Engineering from the University of Waterloo, a PhD in Operations Research from the University of Toronto, and was a Post-Doctoral Fellow at the Schulich School of Business, York University.

Philippa Girling

Investors Bank

CRO



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Philippa Girling is the Chief Risk Officer for Investors Bank, she has 18 years experience in the global financial services industry, working in the fields of Operational Risk, training, project management and organizational change. Prior to joining Investors Bank, she was Commercial Business Chief Risk Officer for Capital One Commercial Bank.

Having established a global reputation as an Operational Risk expert, Philippa was selected as one of the Top Fifty Faces of Operational Risk by Operational Risk and Compliance Magazine. Philippa holds an English law degree from University of East Anglia, England and is a member of the New York Bar. She is a holder of the GARP Financial Risk Manager accreditation and is a Doctoral Candidate at Rutgers University, her area of study focusing on the relative importance of capital and strong risk governance in the mitigation of systemic risk.

Phil Gledhill

Federal Reserve Bank of New York

Supervisory Examiner- Operational Risk



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Phil has over 30 years of experience in bank operational risk management and treasury/capital markets operations management. Since joining the FRBNY in September 2011, Phil has been heavily involved in the collection and analysis of internal loss data from major financial institutions within the US, examining the Comprehensive Capital Analysis and Review (CCAR) stress test loss projections, and evaluating Recovery/Resolution Plans (“living wills”) mandated by the Dodd-Frank Act. As a former industry consultant and practitioner, Phil brings extensive hands-on experience to the FRBNY and promotes proven yet practical approaches for identifying and managing operational risks, improving workflow efficiency, and maintaining high internal control and ethical standards within financial institutions.

Daniel Harty

PNC

CRO



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Daniel Harty will be participating at Risk Americas 2016

Jon Hill

Morgan Stanley

Executive Director



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Jon Hill is an Executive Director at Morgan Stanley with over eighteen years of experience in various areas of quantitative finance. He is currently the Global Head of the Market and Operational Risk Model Validation team at Morgan Stanley comprised of 7 Ph. D. and Masters level quants in New York and Budapest. Jon’s team is responsible for the ongoing validation of all Morgan Stanley market and operational risk models, including Value at Risk (VaR), Stressed VaR, Incremental Risk Charge, Comprehensive Risk Measure and the Advanced Measurement Approach model for Operational Risk. Jon’s team is also responsible for validating the use of these models for the annual regulatory CCAR and DFAST stress test exercises.

Deborah Hrvatin

Deutsche Bank

MD, Head of Operational Risk Management



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Deborah Hrvatin will be participating at Risk Americas 2016

Michelle Hubertus

Deutsche Bank

MD, Basel III US Program Manager



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For the past 9 years Michelle Hubertus has been a specialist in all areas related to bank capital management (including economic capital, capital planning, CCAR, Basel III).   At present, she is a managing director and US Basel III Program Lead and CCAR lead for Risk at Deutsche Bank in NY.   Prior experience includes roles as a subject matter expert on a variety of systemically important banking issues for a nonpartisan advocacy organization, global head of Capital Interpretation and Analysis team at Citi, and global head of Capital Policy and Implementation at Bank of America.  She also spent 14 years at JPMorgan Chase in a variety of roles in Risk and Finance.

Michelle has been an active member of numerous industry groups related to capital, risk, and regulatory reform and is a frequent speaker on risk topics.

Michelle holds an MBA in finance from the Stern School of Business and an A.B. from Lafayette College in economics and international affairs.  She is also a Hadassah Leadership Fellow and is the mother of three children.

Beth Hughes

MUFG Union Bank N.A.

ERM Director, Advanced Systems Review Program Manager



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Ms. Hughes began her banking career as a corporate lending officer, which kindled her fascination with the many and surprising ways that disparate risks intersect in the real world of banking. In her current role with MUFG Americas she builds and executes frameworks to validate enterprise risk and capital management processes, generally linked to various regulatory requirements. These include validation of the bank’s Advanced Approaches regulatory capital program, and of the firm’s capital adequacy process, including CCAR; as well as independent review of enterprise liquidity risk management, and the enterprise-level internal control framework. In past roles, including Bank of America and Bank of the West, Ms. Hughes’ responsibilities ranged across Basel implementation and Dodd-Frank prudential regulation; enterprise risk data and information systems; credit, market and operational risks; industry and portfolio analysis; enterprise risk reporting; commercial lending, credit analysis and relationship management. Ms. Hughes holds an AB from Harvard in Japanese Studies and an MBA from Stanford.

David Ingram

Citi

Head of Treasury Risk Strategy, Modelling and Policy



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David Ingram will be participating at Risk Americas 2016

Andrew Kramer

TIAA-CREF

MD, Operational Risk



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Andrew Kramer will be participating at Risk Americas 2016

William Kugler

Capital One

Chief market and liquidity risk office



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William Kugler will be participating at Risk Americas 2016

Kresimir Marusic

Deutsche Bank

MD, CCAR Lead



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Kresimir Marusic will be participating at Risk Americas 2016

Mervyn Naidoo

Morgan Stanley

COO, Risk Analytics



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Mervyn is currently the Chief Operating Officer for Risk Analytics at Morgan Stanley and is responsible for planning, coordinating, enhancing and directing all aspects of polices, control processes, strategic and administrative positions within his department.  He has collaborated and worked in areas that spanned policy, governance, statistics, quantitative modelling and documentation. His pattern of independent, yet clear and coherent thinking and communicating ideas both orally and in writing has been a consistent and valuable trait in his current role.

Gustavo Ortega

AIG

Director and Global Head of Issue and Risk Event Management



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Gus Ortega is a seasoned Operational Risk Executive with over 15 years’ industry experience. He joined the Corporate Operational Risk Management unit at American International Group, Inc. (AIG) in May, 2013 with global responsibility for Internal Loss Data Management. Prior to joining AIG, Gus has held various operational risk leadership roles at Morgan Stanley, Dresdner Kleinwort and UBS Investment Bank, focusing on various risk programs/ processes like Risk Event Capture, Key Risk Indicators (KRI), Risk Control Self Assessments (RCSA), Reporting and Analytics. He is an active Operational Risk industry practitioner, most recently participated in an industry white paper development on minimum standards for operational risk loss reporting for Insurance companies under the governance of the CRO Forum. Gus holds an M.B.A from Saint Peter’s University.

Bogie Ozdemir

Canadian Western Bank

CRO



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Bogie Ozdemir is currently Chief Risk Officer and an Executive Vice President with Canadian Western Bank Group (a diversified financial services organization providing specialized services in banking, trust, and wealth management. Prior to joining Canadian Western Bank Group, and in his role as a Vice President with Sun Life Financial Group, Bogie led the development and implementation of (and was responsible for) ORSA, as well as overseeing Operational Risk, Model Vetting and Risk Analytics. Prior to this, as a Vice President with BMO Financial Group, he was responsible for Economic Capital, Stress Testing, and Basel Analytics, as well as the development and implementation of ICAAP. Previously, as Vice President of Standard & Poor’s Credit Risk Services group, Bogie held global responsibility for engineering new products and solutions, and business development and management. Bogie has authored and co-authored numerous papers and three books.

Tony Peccia

Citi Canada

MD, CRO



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Mr. Anthony Peccia is Managing Director and Chief Risk Officer for Citibank Canada. He is responsible for managing credit, market, liquidity, operational and pension fund risks. He chairs the Risk Committee and is a director of Board of the Citi Trust Company of Canada. Prior to that he was Managing Director of Operational Risk at Citigroup, responsible for the development and implementation of the operational risk policy and standards globally and managing the global AMA implementation plan

Prior to joining Citi, Mr Peccia has consulted to major global banks and leading risk system vendors. He reengineered the operational risk department at BMO and started up one at CIBC. Before that, he played a leading role in creating a fully integrated Market Risk Management Function at CIBC and was previously Assistant Treasurer at RBC, in charge of money markets, debt and equity issuance.

Mr. Peccia has had leadership roles in asset liability management, capital market financing, structured derivatives, securitization and corporate insurance at several global banks.

Mr. Peccia founded and chaired the Industry Group on Operation Risk which included the operational risk heads of the major global banks. The Group advised the Basle Committee on Operational Risk Sound Practices and Capital Requirements. Many of the Group’s recommendations were adopted in Basel II. He has taught courses on risk management at several universities and executive programs. He has published chapters on operational risk management in three books. He is a regular speaker at leading risk management conferences.

Mr. Peccia has an MBA and MSC in physics

Julian Philips

GE Capital

Chief Model Risk Officer



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Julian Phillips will be participating at Risk Americas 2016

Christian Pichlmeier

MUFG Union Bank N.A.

Head of Liquidity Risk



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With more than 15 years of experience in Treasury and Asset/Liability Management, Christian joined the MUFG family in 2013 when he became Treasurer of Mitsubishi UFJ Securities (USA). He was building up the Treasury framework for the Broker/Dealer entity in close corporation with MUSHD and aligned MUS’ liquidity risk to best practices in the industry. Having worked at Citi’s Treasury function before,  he brought  the know-how necessary to meet regulatory expectations in particular setting  the stage for MUS to comply with the Enhanced Prudential Standards. Christian had worked for HSH Nordbank of Germany for over 7 years, most notably as their Treasurer of the New York Branch from 2007 through 2011. He just recently took on the role as Head of Liquidity Risk at MUFG Union Bank with a particular focus on the integration of bank and non-bank entities into the Intermediate Holding Company MUAH. Christian is a CFA charter holder.

Manan Rawal

HSBC

SVP, CCAR & Stress Testing- Head of Scenarios & Modelling



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Manan Rawal will be participating at Risk Americas 2016

Jodi Richard

US Bank

Chief Operational Risk Officer



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Jodi Richard is Senior Vice President and Chief Operational Risk Officer and US Bank. Jodi leads the Operational Risk Management function, which includes core Operational Risk Police and AMA Framework components, Corporate Operational Risk programs and risk oversights functions. These include, Third Party Risk Management, Business Change Risk Assessment, Privacy compliance, Fraud Risk Management, Enterprise Complaint Management, Corporate Security, Crisis Management, and fraud investigations. The ORM function also is responsible for independent risk oversight of Information Technology Risk, Business Continuity Risk, and Information Security Risk which are centrally managed in the Technology and Operations Services support function.

Jacob Rosengarten

XL Capital

Executive Vice President and Chief Enterprise Risk Officer



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Jacob Rosengarten was appointed Chief Enterprise Risk Officer for XL Group plc in September, 2008, reporting directly to XL’s CEO. He is Chairman of XL Group’s Enterprise Risk Committee. His responsibilities include the identification, assessment, monitoring and reporting of key risks across XL Group companies. This includes establishment of policies designed to promote a strong ERM process, playing a leadership role in XL’s Solvency 2 initiatives and in maintaining a top tier economic capital modeling program. Prior to joining XL Group, Mr. Rosengarten was Managing Director of Risk Management and Analytics for Goldman Sachs Asset Management (GSAM) from 1998 to 2008. From 1993 to 1997 he was Director of Risk and Quantitative Analysis at Commodities Corporation (now part of GSAM). Between 1983 and 1992 he held progressively senior positions at Commodities Corporation as Director of Accounting, Assistant Controller, and then Controller. Mr. Rosengarten began his career in 1979 as an Auditor at Arthur Young & Company. He has an M.B.A. from the University of Chicago and a B.A. from Brandeis University. He is also a Certified Public Accountant and Chartered Global Management Accountant. He serves as a member of the Board of Trustees for the Global Association of Risk Professionals (“GARP”), and also serves on the University of Connecticut’s MSFRM Board of Advisors.

Matthieu Royer

Credit Agricole CIB

Head of ALM & CPM, Americas



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Matthieu Royer will be participating at Risk Americas 2016

Karen Schneck

FRB NY

Market Risk Department Head



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Until October 2015, Karen Schneck has been responsible for the Model Risk Department within the Financial Institution Supervision Group at the Federal Reserve Bank of New York. In this capacity, she and her team focus on model risk management and quantitative matters across market, credit and operational risk, including pricing, risk management and regulatory capital modeling.

Ms. Schneck has recently assumed responsibility instead as head of the Market Risk Department, focusing on independent market risk management, related controls and stress testing.

Paulomi Shah

Bank of America Merrill Lynch

Head of Operational Risk, Global Banking & Markets



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Paulomi Shah will be participating at Risk Americas 2016

Nicholas Silitch

Prudential Financial

Group CRO



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Nick Silitch is senior vice president, chief risk officer of Prudential Financial, Inc. In this role, Silitch oversees Prudential’s risk management infrastructure and risk profile across all business lines and risk types. Under his direction, his team develops models, metrics, frameworks and governance to manage risk, and works with internal corporate partners and business groups to identify, assess and prioritize risk across the company. He is chairman of the organization’s Enterprise Risk Committee that evaluates current and emerging risks relevant to the company, and is a member of Prudential’s Senior Management Council.

Silitch also works with external stakeholder groups to forward industry interests. He is head of the International Affairs Committee for the North American Chief Risk Officers’ Council, and is a member of the Advisory Council for the International Association of Credit Portfolio Managers.

Silitch joined Prudential in 2010 as chief credit officer and head of investment risk management, overseeing Prudential’s general account and other proprietary investment risks globally, as well as maintaining and approving Delegations of Authority and Investment Policy Statements.

Prior to joining Prudential, Silitch held the position of chief risk officer of the Alternative Investment Services, Broker Dealer Services and Pershing businesses within Bank of New York Mellon. He also served on the Pershing Executive Committee.

Silitch joined Bank of New York Mellon in 1983 as a credit trainee. Throughout his career at the bank, he held senior positions in client management, investor relations, risk management, loan restructuring, credit portfolio management and Basel compliance.

He received a bachelor’s degree in economics from Colby College.

Agus Sudjianto

Wells Fargo

MD, Head of Corporate Model Risk



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Agus Sudjianto is an Executive Vice President, Managing Director, and Head of Corporate Model Risk for Wells Fargo where he established their Model Risk Management Framework, Governance and Structure. He leads a highly technical team to manage model risk across the enterprise.

Prior to his current position, Agus was the Modeling and Analytics Director and Chief Model Risk Officer at Lloyds Banking Group in the United Kingdom where he was responsible for the enterprise development and oversight of all risk management models (Retail and Wholesale Credits, Market, Regulatory Capital, Stress Testing, Asset Liability Mangement, Insurance).

Before joining Lloyds, he was a Senior Credit Risk Executive and Head of Quantitative Risk at Bank of America. Prior to his career in banking, he was product design manager at Ford Motor Company where he led engineering teams designing engine systems and components using complex engineering models.

Agus holds numerous US patents in both Finance and Engineering fields. In addition to publishing numerous technical papers, he is also a co-author of a statistics book in Design and Analysis of Computer Experiment. His technical expertise and interest include Quantative Risk, especially credit risk modeling and statistical finance, statistical methods for fighting financial crimes, and computational statistics.

He holds graduate degrees in Engineering and Management from Wayne State University and Massachusetts Institute of Technology.

Jonathan Tholen

US Bank

Liquidty And Capital Oversight



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Jonathan joined U.S. bank in 2008 and is currently a manager in Financial Risk Assessment, providing oversight of liquidity and capital management.  Jonathan has experience in internal audit, and prior to joining the Company worked for four years at Baker Tilly auditing dealerships.  He graduated from Luther College in 2004 with a BA in accounting and management.  He lives in the Minneapolis area with his wife Sarah.

Gary Tognoni

TD

SVP, Head Stess testing Execution, Treasury and Balance Sheet Management



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Gary Tognoni will be participating at Risk Americas 2016

Soner Tunay

Citizens Bank

Head of Risk Analytics



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Soner Tunay is currently an SVP and the Head of Risk Analytics in the Risk Architecture Department of Citizens Financial Group.  He leads the efforts in the design, development and implementation of credit risk solutions for the Bank’s portfolios including CCAR models, Economic Capital and Risk Rating Models.  His past work covered a broad range of asset classes, including commercial, retail products and structured credit instruments.

Prior to joining RBS Citizens, Soner held similar roles in leading financial institutions, managing quantitative teams working on various models and processes. He has been a participant in various industry events, as a presenter, round-table participant and as an organizer of full-day workshops.

Soner holds a Ph.D. in Economics from Boston College.

Kay Vicino

US Bank

Chief Data Officer



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Kay Vicino will be participating at Risk Americas 2016

Cynthia Williams

Credit Suisse

CRO, Regulatory Coordinaor



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Cindy Williams is Head of CRO Regulatory Rule Self-Assessments of Americas for Credit Suisse based in New York.   In this capacity, she and her team manage self-assessment process against mainly US CRO related regulatory requirements including identification of relevant rules, project management of assessment process, rules interpretation, critical review of responses, and management of Quality Assurance process. Cindy has 14 years of work experience in the Federal Reserve System covering Market Risk, Model and Methodologies and Credit and Payments Risk. Prior to this, she worked as an asset/liability specialist and credit analyst in the industry.

H Walter Young

M&T Bank

Chief Data & Liquidity Risk Officer



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H. Waletr Young will be participating at Risk Americas 2016

Steve Zhou

GE Capital

Director, Stress testing Methodologies



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Steve Zhou will be participating at Risk Americas 2016

Alexander Tsigutkin

Axiom Software

CEO



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Alexander Tsigutkin is the CEO of Axiom Software Laboratories (AxiomSL).  AxiomSL is the global leader in regulatory reporting and risk management solutions to top financial institutions worldwide.  The strategic data-driven solution enables financial institutions to meet the requirements for regulatory reporting across multiple regulators and jurisdictions on a single platform.

A successful business leader and entrepreneur, Alex founded AxiomSL in 1991 and designed the original framework and foundation for development of an enterprise-wide risk management, regulatory reporting and data management solutions. He invented and patented dynamic approach to managing data for risk management and regulatory reporting applications. Alex oversees the strategic direction of AxiomSL products and services to best serve its financial industry clients around the world.

As an expert in Regulatory Reporting and Risk Management, Alex is a frequent speaker at technology and financial industry forums worldwide, addressing topics such as dealing with changes in regulatory and risk management space, achieving transparency across enterprise, financial control, data warehousing and bank regulatory issues. He is an active member of a number of professional organizations including GARP, PRMIA, etc.

Before founding AxiomSL, Alex was an independent consultant to top tier international banks and financial institutions, advising senior management in the areas of technical infrastructure for Enterprise Risk Management, Financial Reporting and Data Management.  He started his career as a software engineer with Computer Associates Inc. developing relational database engine internals in 1983.

Alex has earned a B.S. degree from Yeshiva University and a M.S. Information Technology and Business degree from Politechnic University in New York . He is married and has three children.

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Co-Sponsors

AxiomSL


AxiomSL’s enterprise-data management platform delivers data lineage, risk aggregation, workflow automation, validation and audit functionality as well as internal and external reporting capabilities including XBRL. These features provide data and process governance across the entire enterprise and give decision makers the confidence in the automation of complex reporting business logic as well as full control over every step of the process.

AxiomSL’s platform seamlessly integrates all of the firm’s existing data across the enterprise and provides the analytics necessary to meet global regulatory standards, risk management requirements and internal and external reporting demands. The high-performance platform aggregates clients’ data to its lowest level of granularity from multiple siloes systems, enriches and validates the data, and then runs the data through relevant calculations and populates the reports. Analytical applications are delivered in the areas of data risk management, capital and liquidity reporting while addressing evolving regulatory requirements and market dynamics.

AxiomSL’s enterprise-wide approach enables financial institutions to leverage their existing data and risk management infrastructure without system re-engineering while delivering drilldown functionality to support instant verification of aggregate numbers down to individual accounts for improved transparency. Further, the ability to preview results, prior to submission, enables analysis and adjustment of reported facts and ensures accuracy. This holistic approach gives institutions full control of the entire process for risk management and finance functions, data aggregation capabilities, automation of complex analytical and reporting business logic and internal and regulatory reporting.

AxiomSL was voted Best Reporting System Provider in the 2015 Waters Rankings and was highlighted as a ‘category leader’ by Chartis Research in its 2015 Sell-side Risk Management Technology report. The company’s work has also been recognized through a number of other accolades.

KPMG


KPMG LLP, the audit, tax and advisory firm, is the U.S. member firm of KPMG International Cooperative (“KPMG International”). KPMG is a global network of professional firms providing Audit, Tax and Advisory services. We operate in 155 countries and have more than 174,000 people working in member firms around the world. Our high-performing people mobilize around our clients, using our experience and insight to deliver informed perspectives and clear methodologies that our clients and stakeholders value. Our client focus, commitment to excellence, global mind-set, and consistent delivery build trusted relationships that are at the core of our business and reputation.

Wolters Kluwer


Whether complying with regulatory requirements or managing financial transactions, addressing a single key risk, or working toward a holistic enterprise risk management strategy, Wolters Kluwer Financial Services works with customers worldwide to help them successfully navigate regulatory complexity, optimize risk and financial performance, and manage data to support critical decisions. Wolters Kluwer Financial Services provides risk management, compliance, finance and audit solutions that help financial organizations improve efficiency and effectiveness across their enterprise, with more than 30 offices in 20 countries.

For further information please visit www.wolterskluwerfs.com

Exhibitor

Barclay Simpson


Barclay Simpson Executive Search Inc. is a specialist Corporate Governance search firm that recruits financial services and banking professionals into the niche areas of Risk Management, Internal Audit, Information Security and Compliance.

We provide contingent and retained permanent recruitment solutions and have the resources, specialist knowledge and skilled consultants to provide the most appropriate recruitment solution in our areas of expertise, sourcing both local candidates as well as drawing from our global candidate database and extensive networks. Our fifty consultants, based in our offices in New York, London, Hong Kong, Singapore and Dubai, work with financial services and banking clients throughout North America, the UK, Europe, the Asia-Pacific region and the Middle East.

Exari


Exari is a market-leading Contract Lifecycle Management platform that unifies the processes of generating, managing and analyzing expansive document and contract portfolios. Exari solutions are used by hundreds of thousands of users worldwide.

Exari is headquartered in Boston with offices in London, Melbourne and Munich.

Learn more at www.exari.com.

Can your organisation contribute at Risk Americas 2016 Convention?

Please contact the Center for Financial Professionals today to discuss how we can deliver your thought-leadership at the event, help you generate leads, and provide you with unique networking and branding opportunities. Below is an outline of what we can offer, but please contact sales@cefpro.com or call us on +1 888 677 7007 / +44 (0)20 7164 6582 where a member of the team will be happy to tailor the right package for you.

Thought-leadership Opportunities

  • Deliver a thought-leadership presentation, either as a stand-alone or alongside an existing presenter/practitioner
  • Present on your own tailored presentation, including associated session title and bullet points
  • Join a Keynote Panel Discussion alongside existing practitioners

Exhibition Stand

  • Enjoy a physical presence at the event, in the form of an exhibition stand.
  • Network with our attendees during each of the many networking breaks taking place throughout the day.
  • Directly deliver white papers, reports, promotional material small gifts and other any other items of thought-leadership you may have.

Bespoke Opportunities

  • Breakfast Briefing
  • Research Report; A great opportunity to work with us and our network of financial risk professionals to deliver an exclusive new research report at the event.
  • Sponsor the Coffee!
  • Give us an idea; we are very open to hearing your suggestions and if you have an idea of how we can work together we will try to accommodate where possible.

Exposure, Branding and Awareness

You will enjoy prominent branding relating to your status as a valued supporter of our event. This will include:

  • A dedicated email campaign via our extensive database and those of all our Media/PR Partners
  • Logo prominently visible and placed on the event brochure and website
  • Logo placed on the event homepage
  • Logo and Company profile on supporters’ page via your corporate logo
  • Onsite logo placement throughout the event, including stage presence, signage and delegate packs
  • Feature your content on our Risk Insights page

Media Partnerships

We are happy to support publications, associations and organisations at this event. From a simple company listing with your logo to taking advantage of some of our sponsor benefits listed above. To discuss this further please contact jesse.hopkins@cefpro.com on +1 888 677 7007 /+44 (0)20 7164 6582

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Launch special
28th January 2016
Soner Tunay - Risk Anlaytics

How Stress Testing is Compared to Economic Capital

28th January 2016
Risk Americas Reseach

What’s on the Horizon for Risk Americas 2016?

27th January 2016
Jon Hill - Morgan Stanley

Reviewing the Origins and Comprehensive History of Model Risk

20th January 2016

Board Presentations Made Easier
 David Huntley, CFA, FRM, CQF

20th January 2016

A Pragmatic Approach to Model Validation

20th January 2016

Analysing the Differences Between Basel lll In The US Compared To Other Jurisdictions

20th January 2016
GustavoOrtega

Forward Looking Risk Culture & Roles Of The First And Second Lines Of Defence

1st October 2015
Unknown-5

Operational Risk Management in the World of Big Data

19th August 2015

Ensuring Operational Risk Practices are Forward Looking for Vendor Processes, Stress Testing, and Scenario Analysis

27th July 2015
Robert chan

Understanding the Gains and Losses for Institutions on the Verge of Crossover and Building an Effective Governance, Control and Challenge Process

27th July 2015
Ty Lambert

Macroeconomic Stress Testing Lessons Learned From Bancorpsouth’s Strategy and Implementaion

27th July 2015
David D'Amico

Making Sense Of Regulatory Changes And Shaping Policy To Ensure Compliance And Value Added

15th July 2015

Operational Risk Management: “Time for a Face Lift”

12th May 2015

Risk Americas 2015 Q&A: 
Understanding How The ORSA Is Changing Governance And Reporting Structures And Lines; Building An Effective Model Governance Program In The US

Susan Cleaver, Director, ERM, State Farm These are the opinions of Susan Cleaver and do not necessarily reflect the opinion of State Farm® and its affiliates. […]
12th May 2015

Risk Americas 2015 Q&A: Assessing The Challenges With The Implementation Of Economic Capital For Insurers

Assessing The Challenges With The Implementation Of Economic Capital For Insurers Please tell us a little bit about yourself, your role and your experience. I am […]
12th May 2015

Risk Americas 2015 Q&A: Understanding How The ORSA Is Changing Governance And Reporting Structures And Lines; Building An Effective Model Governance Program In The US Insurance Industry

Ahead of Risk Americas 2015, CFP spoke to Timothy Carmon, Vice President of Enterprise Risk Management, MassMutual. Timothy will be one of many Senior Risk Professionals […]
12th May 2015

Data Assumptions For Stress Tests

Data Assumptions For Stress Tests Hamid Benbrahim the MD, Chief Data Scientist, TD Ameritrade Hamid provides a key insight into assuming the data for stress tests […]
12th May 2015

Efficient Governance and Communication of Stress Testing and CCAR

Efficient Governance and Communication of Stress Testing and CCAR Sanjay Sharma, Global Arbitrage & Trading, RBC Capital Markets Sanjay recently presented at CFP’s Stress Testing USA […]
12th May 2015

Qlik White Paper: Forging Collaboration Between Risk And The Business

Forging Collaboration Between Risk And The Business Qlik will be contributing to CFP’s 4th annual Risk Americas 2015 Congress. Qlik have published a white paper based […]
12th May 2015

S&P Capital IQ: Unanswered Questions: 2015 CCAR Results

On March 18, S&P Capital IQ hosted the latest webinar of the Risk Insight series, “2015 CCAR Results: What They Mean and the Way Forward”. During […]
12th May 2015

Key Elements Of Effective Model Risk Management In Financial Services

Grant Thornton: Key Elements Of Effective Model Risk Management In Financial Services Grant Thornton will be contributing to CFP’s 4th Annual Risk Americas Congress this year. […]
12th May 2015

Financial Stability: Success Takes Off in the Convoluted Regulatory Environment

Kelvin To and Homer Cheng Financial Stability: Success takes off in the convoluted regulatory environment Data Boiler Technologies, LLC solves data management problems, augments product development […]
12th May 2015

Situs Industry Article: Too Many Silos?

Situs Industry Article: Too Many Silos? By Ed Robertson, Co-Head of Situs’ Financial Institutions Group Federal regulations around Stress Testing require banks to obtain data within […]
12th May 2015

Risk And Data Governance Report: Why Getting Your Risk Data into Shape Will Lead to Business Rewards

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New York Hilton Midtown

1335 Avenue of the Americas
New York, NY 10019, US
Risk Americas 2016 will be taking place at the New York Hilton Midtown conveniently located in the heart of Midtown Manhattan, just steps away from New York City’s most popular attractions and shopping destinations.
Preferential Rate Available:

We have successfully negotiated a preferential rate for attendees to stay at the Hilton Midtown. To ensure you gain the preferential rate please use the link below. Rooms are limited so we recommend that you reserve your room while you can. All rooms are on a first come, first served basis.

Click here to book or call 212-586-7000 and quote the Center for Financial Professionals

NY Hilton 2
NY Hilton
NY Hilton 3
NY Hilton 4
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Where will Risk Americas 2016 take place, and what time should I arrive?

Risk Americas 2016 will be taking place at the New York Hilton Midtown. Limited rooms are available for you to book at a preferential rate. Find out more here.

Registration will open on each day at 7:30AM, where you will be greeted by a member of our team and welcomed to enjoy tea/coffee and some breakfast.

Venue location:

1335 Avenue of the Americas
New York, NY 10019, US

Can I present at Risk Americas 2016?

Yes, the Center for Financial Professionals are happy to discuss speaking opportunities at Risk Americas 2016. For further information on this please contact alice.kelly@cefpro.com

Are there any rules on the dresscode?

Business attire is requested. The Risk Americas 2016 Convention is a formal opportunity to network with like-minded professionals and to gain knowledge from the industry’s finest risk management experts.

What is the cost and what is included in the registration fee?

We offer incentives for ‘early bird’ registrants of the main Convention and Masterclasses, as outlined below:

Launch Special Price
By 12 February
Super Early Bird
By 18 March
Early Bird
By 15 April
Standard Rate
Main Two-Day Convention $1199 $1399 $1599 $1999 Register Here
Main Convention + ONE Masterclass $1798 $2098 $2398 $2998 Register Here
Masterclass Only- Model Risk OR Stress Testing (PPNR + Scenarios) $599 $699 $799 $999 Register Here

Registration includes breakfast, refreshment breaks, lunches, the cocktail reception on day one, full access to the Convention sessions, streams, luncheon round tables and exhibition area. Presentations from sessions are also available, subject to speaker approval.

Where can I find the Convention documentation and speaker presentations?

All registered attendees will receive an email with access to documentation and speaker presentations*

All available documentation will be provided after the Convention has taken place. However we will work with our presenters to make these available before the Convention where possible.

*Please note that our speakers often have to gain permission from their relevant compliance departments to release their presentations. On rare occasions compliance may not allow presentations to be distributed.

Will breakfast, lunch and refreshment be provided?

Yes. As with all of our events the Center for Financial Professionals will be providing brilliant coffee, breakfast, lunch, refreshments, and smaller bites during the networking breaks.

This will be provided on both days of the main convention as well as at the accompanying masterclasses.

Will there be opportunities to network with other attendees?

There are ample opportunities for networking and interaction throughout the Convention, such as

  • Breakfast, lunch and refreshment breaks
  • Cocktail reception at the end of the first day of the Convention
  • Luncheon round table discussions
  • Briefings (by invitation only)
  • App: download the App two weeks prior to the Convention to meet colleagues and attendee
  • Q&A, panel discussions and audience participation technology at the event and during the sessions
I have several colleagues that would like to attend, is there a group discount?

Certainly! We are pleased to offer you a 50% discount on the third registration or provide a fifth registration for free.

If you would like to register more than five colleagues please contact us on +1 888 677 7007.

Please note:

  • Registrations must be made at the same time
  • Registrations must come from the organization
  • The lowest registration will be discounted
Will the group rate apply if one of our colleagues wishes to only attend the masterclass?

You can register multiple colleagues to any combination of the main convention and masterclass. We will provide you a discount on the lowest registration fee.

Are there opportunities to share my thought-leadership at Risk Americas 2016?

Yes there are plenty of opportunities for the Center for Financial Professionals to share thought-leadership to the attendees of Risk Americas 2016 and our wider risk professionals community.

At the event
We can distribute your material to the attendees or even offer you an exhibition booth so that you may enjoy a more prominent presence at the Convention. Visit the Sponsor tab for further information or contact sales@cefpro.com / +1 888 677 7007.

Risk Insights
Feature your content on our Risk Insights website and supporting Risk Insights monthly newsletter. For further information please download our media pack here

Are media partnerships available for Risk Americas 2016?

Yes. As part of a media partnership we can offer a variety of options to increase the branding and awareness of your assoiciation, company, certificate, publication or media. We are flexible with what we can offer however we usually:

  • Provide a discounted rate to attend
  • Place your logo and profile on the Convention website
  • Place your logo on the Convention brochure
  • Place your logo on promotional content where applicable
  • Distribute your media/marketing at the Convention
  • Promote through social media channels

To discuss this further please contact jesse.hopkins@cefpro.com or call +1 888 677 7007.

Bring the team
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Launch special

Looking Back At Risk Americas 2015

2015 CRO Discussion

Bring the team
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Launch special
Launch Special Price
By 12 February
Super Early Bird
By 18 March
Early Bird
By 15 April
Standard Rate
Main Two-Day Convention $1199
(Save $800)
$1399
(Save $600)
$1599
(Save $400)
$1999 Register Here
Main Convention + ONE Masterclass $1798
(Save $1200)
$2098
(Save $900)
$2398
(Save $600)
$2998 Register Here
Masterclass Only- Model Risk OR Stress Testing (PPNR + Scenarios) $599
(Save $400)
$699
(Save $300)
$799
(Save $200)
$999
(Save $400)
Register Here

Group Rates

The Center for Financial Professionals welcome group registrations and are happy to offer you a 50% discount on the third registration or offer a complimentary pass to a fifth registration.

We often take group booking of more than 5 colleagues. If you wish to register more than five please contact us directly on info@cefpro.com or +1 888 677 7007

Other ways to register

3. Register by Email 

Simply email us with your e-signature – and we will do the rest for you!

Convention takes places on May 3-4, that’s:

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Co-Sponsors

axiom 245x150 v2
KPMG
Wolters Kluwer 245x150

Exhibitors

Barclay SImpson
Exari

NEW CFP LogoUS

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