iNFRont Issue Six: Dec/Jan 2023
Center for Financial Professionals (CeFPro®) Magazine
The latest release of CeFPro’s bi-monthly publication, iNFRont Magazine is now available to download for free! Providing regular industry insight on the operational and non-financial risk (NFR) industry, as told by your peers and leading industry figures from financial institutions around the world.
Touching on the most critical themes and challenges to affect financial professionals, forward plan your next move in the ever evolving and rapidly expanding operational and non-financial risk sector with iNFRont Magazine.
24+ PAGES | 15+ CONTRIBUTORS | Q&As | LEADING INDUSTRY RESEARCH | EVENT PREVIEWS
Global Head of Sustainability
Director – Model Risk Oversight
Charles Schwab & Co
Chief Risk Officer
Gulf International Bank
Chief Sustainability Officer
VP, Vendor Management
Nordea Bank, New York Branch
Key topics and themes covered include:
Featured articles in this issue:
THE BIG CONVERSATION – Assessing the impact of COP27
With finance taking center stage at last year’s COP26 event in Glasgow, the 2022 conference in Sharm el-Sheikh, Egypt, was a little more downcast as delegates grappled with global crises…
Director, Green Financial Systems, Climate Strategy and Delivery, EBRD | Global Head of Sustainability, ING | Director, Environmental and Sustainability Management, MUFG Securities | Head of ESG, Standard Chartered Bank | former Head of Risk Management Financial Markets Americas, Rabobank
DIRTY MONEY – Reducing the threat posed by professional money launderers
How are financial services firms unknowingly facilitating the actions of professional money launderers? | Key signs to detect activity and tackle the threat
Threat Lead, Professional Money Launderers, Fraud Investigation Service, HM Revenue and Customs
AI & MACHINE LEARNING – The importance of explainability
There are multiple different stakeholders for whom explainability could be provided, and it’s important to know which group you’re targeting to be able to effectively communicate the decision making process…
Director – Model Risk Oversight, Charles Schwab & Co
INDUSTRY INSIGHT – Top 4 risk factors for 2023
An extensive research campaign uncovers the leading threats financial and non-financial professionals should be looking out and preparing for
CeFPro Research Team
NET ZERO – Accelerating the transition by leveraging the power of the Risk Officer
While Risk Officers often look at the negative aspects of the future, they must not be paralyzed by pessimism. How can their optimism prompt significant behavioural and structural changes?
Chief Risk Officer, Gulf International Bank
Click here for a preview of iNFRont Magazine Dec/Jan. You will need to be a CeFPro Connect member.
If you would like a pdf copy of the magazine, get in touch to request via email.
“Such a great edition of iNFRont! I love all the insights and infographics.”
– Managing Director, Portfolio Strategy and Risk, PineBridge Investments
“iNFRont Magazine has become a core reading resource that is truly industry-led insight across a portfolio of products. iNFRont delivers a variety of risk and contemporary topics from experienced leaders…”
– Director of Model Risk Management, Arvest Bank
“There is some really good material in iNFRont Magazine”
– Global Head of IT Risk, TPRM and Fraud Risk Management, BNP Paribas
“The latest edition of iNFRont Magazine is a must read! As a new CFO, it is important for me to stay abreast of these non-financial risk topics as they still impact the bottom line.”
– SVP, Chief Financial Officer, National Advisors Trust Company
Head of Business Controls
Sucharita Banerjee Lodha
Head of Governance and Reporting/Chief of Staff, ERM
Darling Consulting Group
Biography coming soon.
Sucharita Banerjee Lodha is the Head of General Insurance International Operational Risk and Governance, ERM . She has held various operational risk management positions within GI International supporting effective roll out of operational risk management tools and concepts within Claims, Finance, Operations and shared service centres. She has led teams across Business Consulting, Outsourcing Risk management, Offshore Development Centers, Technology and Risk Management. She has a proven track record of managing global teams and leading regulatory change initiatives. Sucharita holds an MBA from London Business School and an MS in Quality Management from Birla Institute of technology. She is also a six sigma Black belt and has a B.tech in Information Technology. She chose non-financial risk management as a career to pursue her passion for healthy risk culture in organizations. She has worked with Deloitte, American Express, Tata Consultancy Services in her professional career. She has worked with consulting and Financial services firms in India, the US and is currently based in London, UK. Sucharita is also the chair of Gender Equality Matters Employee resource group in AIG.
With over 30 years of experience in strategic risk management, Mike Guglielmo has provided technical and strategic consulting to a diverse group of financial institutions. Mike is also a frequent author and top-rated speaker on a variety of balance sheet and model risk management and operational risk management topics. He is the Immediate Past Chairman for the Financial Managers Society and is a faculty member for the FMS Institute.
During his tenure at DCG, Mike has served in various capacities, including director of financial analytics. In addition, he is a technical resource for the ongoing development of many of DCG’s quantitative and strategic risk management products and services. Prior to joining DCG, Mike managed the ALCO and strategic planning processes for a regional bank in the northeast. Mike is a graduate of Fairfield University with a degree in economics.
Alpa is Head of Third Party Governance Advisory Group. Prior to this role she was head of the Americas Business Change Group within Asset Servicing, where she was responsible for the management and oversight of client implementations. She oversees the strategy and execution of cross functional transition plans for new business opportunities and high profile, complex initiatives for existing clients.
Alpa is responsible for strategic planning, organizational restructuring, client relationship management, compliance, and risk. Prior to joining BNY Mellon, Alpa served as Vice President and Chief of Staff in the Regulatory and Tax Operations division at Goldman Sachs & Company. She was a global project manager for the Federal Preparedness program. Prior to Goldman Sachs, Alpa served as Cost Allocation Specialist for Societe Generale. She led various assignments at Fluor Daniel Corporation including overseeing a Nuclear Waste clean-up project costing in excess of $5 billion and the implementation of SAP system. She has a successful track record as a leader in managing complex client relationships, risk management, and transformation.
At BNY Mellon, Alpa is a chair of the IMPACT South Asian Leadership Hub. Currently Alpa sits on the board for Pratham and Ascend Leadership. Alpa is a Steering Committee Member for Shared Assessments.
Alpa is the program creator for Women Helping Women in Finance by helping young college women jumpstart their career within financial services through mentorship and exposure to the Financial Industry. She also created a program called Take 2 with the objective to increase the success for women returning to the workplace by providing them with an opportunity to explore a new career path or reacquaint themselves with new market trends or changes in their area of expertise after an extended career break.
Alpa earned a Master of Business Administration and Bachelor of Arts in Finance from California State University.
Lead Quantitative Analytics and Modeling Expert
Angela Johnson de Wet
Cloud Enabled Business Transformation – Head of Function
Lloyds Banking Group
Chief of Compliance
ICBC Standard Bank
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.
Ange is responsible for Governance and Compliance for Lloyd Banking Group’s Cloud Enabled Business Transformation Programme. Before her current role, Ange was Head of Cloud and Technology Change Risk.
Prior to working at Lloyds, Ange led transformation teams and programmes at Deutsche Bank including: Cloud Security, Risk and Compliance, Anti-Financial Crime Analytics, Data Quality People Change and Money Markets Finance, Risk and Regulatory Reporting.
Before joining Deutsche Bank, Ange worked as a Senior Manager at EY across Asia Pacific and EMEIA within the Financial Services Organisation focusing on Corporate Banking and Capital Markets transformation and business, technology and programme advisory. Ange started her career at IBM in Australia working as a developer, tester, designer and then business analyst and project manager.
Ange has an honours degree in Mechanical Engineering (Mechatronics / Robotics) and Computer Science from the University of Melbourne, Australia.
Ty Lambert joined BancorpSouth in 2006 and has held a variety of management positions with responsibilities contributing to balance sheet management, credit risk management, corporate planning, and modeling and forecasting. In his current role as Chief Risk Officer, his team is responsible for data analytics, regulatory compliance, enterprise risk management, vendor management, and Bank Secrecy Act/ Anti-Money Laundering efforts. Prior to joining BancorpSouth, Ty was an investment portfolio manager.
Sabeena Ahmed Liconte serves as Deputy Chief Operating Officer and Chief Legal Officer to the investment banking division of Bank of China International – BOC International (USA) Holdings Inc. (“BOCI US Holdings”) and its two subsidiaries, BOCI Commodities & Futures (USA) LLC, a registered futures commission merchant and CME Group Inc. clearing member, and BOC International (USA) Inc., a registered broker-dealer and member of FINRA (collectively, “BOCI”).
Prior to joining BOCI, Sabeena’s previous professional experience included Futures & Derivatives Counsel to E*TRADE Financial Corp., including E*TRADE Clearing Corp. and E*TRADE Securities Corp.; 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 board member and Secretary to Bank of China International’s US holding company, BOCI US Holdings; 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 committee member of the New York City Bar Association’s Foreign and Comparative Law Committee and Derivatives and Futures Committee.
MD, Head of Treasury, Americas
Credit Agricole CIB
Director of Enterprise and Operational Risk
Senior Vice President – Head of Transformation Strategy & Reporting – Market, Liquidity and Non-Financial Risk
VP, Vendor Management
Nordea Bank, New York Branch
Oskar Rogg is Head of Treasury, Americas for Credit Agricole CIB. He joined the bank in 2006 after stints at Ernst & Young/Cap Gemini, a fin-tech boutique and 10 years running a startup consulting firm. Oskar began his career at First Boston (now Credit Suisse) where he developed software, worked in municipal finance and traded repo and municipal GICs. He has authored 15 books and articles, including chapters on repurchase agreements in the Handbook of Fixed Income Securities and the Handbook of Treasury Securities. He is a graduate of Cornell University and holds Series 7, 63, & 24 registrations and a PMP.
Sean has over 25 years of experience in Risk Management across disciplines, including Enterprise Risk, Operational Risk, Credit Risk, Strategic Risk and Front Office Supervision. He is a passionate advocate for the furtherance of Operational Risk as a discipline, co-authoring papers and acting as a speaker and panellist at many external events.
Sean has held Director level roles at a number of organisations, both on a consultancy and permanent basis. He is currently Director of Enterprise and Operational Risk at Metro Bank, running a growing team responsible for the Bank’s overall risk management framework and approach to Operational Risk from a second line perspective. This includes liaison with the PRA and FCA and making ongoing enhancements to the Bank’s approach to risk appetite, governance and embedding a strong risk culture across the three lines of defence. Sean has been integral to a transformation in the Bank’s approach, including putting in place a new Risk Taxonomy, Bank Risk Report, approach to RCSA, Control Testing, Operational Risk losses and Scenario Analysis as well as setting up a new Operational Risk Oversight Committee, which he chairs. His team is working closely with the first line on approaches to Operational Resilience, Third Party Risk Management and the management of People, Change, Data, Information Security and Technology Risks.
Sean is a member of the Institute of Operational Risk/IRM Operational Risk Committee, providing advice on its approach to Operational Risk and running the IOR’s Chapters across the globe.
Biography coming soon.
Ken Wolckenhauer is the Head of Vendor Management at Nordea Bank’s New York branch. Leading up to this position, Ken was as a subject matter expert, trainer, solutions provider, and consultant for FIS, the world’s largest global provider dedicated to banking and payments technologies. With FIS, Ken specialized in financial industry regulatory risk and compliance, mostly in the area of anti-money laundering and watchlist compliance. Nordea Bank leveraged Ken’s risk and compliance knowledge to build out the vendor management program for the New York branch, developing a program that would properly manage risk as well as gaining acceptance to the US regulators. The success of the US program is now being used to advise Nordea’s European branches on enhancements to its TPRM program. Ken is a graduate of Bucknell University and is a Certified Anti-Money Laundering Specialist.
Featured articles in iNFRont Oct/Nov include:
THE BIG CONVERSATION – Making a meaningful social impact
Why must organisations ensure that making a positive social impact remains high on their ESG agenda despite the economic downturn?
Chief Risk and Finance Officer, MUFG Securities (Europe) and the Chief Risk Officer for an undisclosed private bank
ONGOING OVERSIGHT – The importance of in-life transactional risk in contract management
Safeguarding contract extension | Mitigating repetitional and regulatory harm | reassessing the relationship | Creating a risk-aware environment
The former Programme Manager – TPRM Specialist, Vodafone
PROMOTING A POSITIVE RISK CULTURE – Will this improve organizational performance?
Defining good risk culture | Performance impacts | Metrics for evaluating risk culture | Risk dashboard | Challenges ahead
Head of Model & Risk Governance, Metro Bank plc UK
INDUSTRY INSIGHT – Key challenges in the digital banking transition
Customer experience has fast become a key driver for many financial institutions. As organization’s push ahead with their digital agenda, consumers are becoming increasingly discerning…
CONDUCT AND INTERNAL FRAUD – How has WFH changed the landscape?
Key considerations for which institutions should prepare | Key fintech areas that will change financial services over the next few years
Head of Internal Fraud, Standard Chartered Bank
TALKING HEADS – Greatest external fraud threats
Amidst this shifting fraud landscape, we asked six industry thought leaders what they believe pose the greatest external fraud threats today…
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If you like iNFRont Magazine, take a look at some of our related themes, including in-person events and leading industry research…
As the operational and non-financial risk arena continues to rapidly evolve, expand, and gain significance, Non-Financial Risk (NFR) Leaders strives to provide risk professionals with insights, support, and benchmarks to guide them through the changing risk landscape.
NFR Leaders collates the knowledge of nearly 1,000 non-financial risk professionals to provide a ‘voice of the market’. Critical themes addressed within the report include the top non-financial risks, areas attracting the greatest investment, the extent of the Covid-19 pandemic’s impact, and much more.
Find out more about NFR Leaders.
Fraud & Financial Crime USA is back for its 5th Annual Congress in NYC on March 22-23! Over two days, leading industry experts and thought leaders will share their insight on how to manage the complex geopolitical landscape and review technology advances within the fraud and financial crime sector.
Hear from experts at Morgan Stanley, FBI, Wells Fargo, Scotiabank, and many more. Click here to find out more about the Congress.
Taking place in London on 14-15 March, save the date so that you can attend New Generation Operational Risk Europe, a gathering of some of the most experienced and intelligent figures within the operational risk sector as they share their knowledge with like-minded professionals.
Discussing critical topics such as resilience, geopolitical risk, climate change, supply chain, and economic conditions, this isn’t a Summit to miss. Find out more here.