NON-FINANCIAL RISK RESEARCH
NON-FINANCIAL RISK LEADERS 2020 REPORT
NON-FINANCIAL RISK ADVISORY BOARD
ADD YOUR VOICE TO THE 2021 RESEARCH
GLOBAL NON-FINANCIAL RESEARCH
The voice of the market ranking the top non-financial risks and providing clarity on upcoming trends, opportunities and investment priorities
ABOUT NON-FINANCIAL RISK LEADERS
With more traditional credit and market risks better understood and controlled across the financial industry, attention is shifting towards understanding and management of Non-Financial Risks (NFR). The remit and definition of NFR continues to evolve and increase in focus and importance across the industry with areas spanning from model risk to operational risk and its subsets.
With NFR building momentum across the industry, this report looks to provide insights on the top non-financial risks prominent across the industry and to assess the future of these risks, future trends and challenges!
DON’T MISS THE NON-FINANCIAL RISK LEADERS CONVENTION & AWARDS
Providing clarity on upcoming trends and opportunities within non-financial risk, and an assessment of the current software available to manage those risks
Find out who was voted best service provider for:
Key Questions answered:
Top Non-Financial Risk Priorities
Vendor, In-house and Microsoft Office Software Assessment
Considerations when purchasing vendor solutions
Key challenges when implementing vendor-provided software
Best practices when implementing vendor-provided software
Future requirements for vendors
Find out where 900+ industry professionals
ranked the top non-financial risks
This report enables organizations to benchmark their performance against others in the industry in order to ascertain whether they are behind, in line with or ahead of their peers when it comes to implementing NFR software.
Jennifer Matney, CeFPro NFR Advisory Board Member & SVP / Director of Operational Risk Management, UMB Financial Corp
CeFPro’s Non-Financial Risk Leaders is an invaluable platform to enable the industry to share ideas and agree best practices.
Sean Miles, CeFPro NFR Advisory Board Member & Head of Risk and Compliance, Motor Insurers’ Bureau
TECHNOLOGY RISK IN FINANCIAL SERVICES
This research aims to assess the trends and challenges within technology risk; including data governance, real-time analytics, API management, data virtualization, data science and integration.
IMPROVING THIRD PARTY RISK MANAGEMENT PROGRAMS TO OPTIMIZE OPERATIONS
This report looks to provide insight across the industry and identify success factors from peers to benchmark and understand progress and review optimization strategies.
PROVIDING A VOICE TO THE MARKET AND COMPANY RANKINGS IDENTIFIED BY THE INDUSTRY
This 2nd annual survey is largely based on the end-user’s responses and perspectives, allowing CeFPro’s research and analyst team to take the pulse of the industry.
Meet Our Non-Financial Risk Leaders Advisory Board
An essential component of our research methodology is to regularly engage with operational risk experts and thought-leaders within our “Non-Financial Risk Leaders Advisory Board”. This is a team of carefully selected independent subject matter experts with expertise in one or more of the various operational risk sub-categories (e.g. Fraud, cyber risk, conduct risk).
Tanweer Ansari, Esq
Senior Vice President, Chief Compliance Officer & BSA/CRA Officer, CAMS, CRCM, CFCS
The First National Bank of Long Island
Sucharita Banerjee Lodha
Head of Operational Risk, Governance and Controls, ERM, International markets and Service Centres
MD, Head of Business Controls
SVP US Director of Internal Control & Operational RIsk
Demonstrate remarkable leadership skills, integrity, values, vision, commitment to excellence, company performance, community service and diversity.
Prior to joining First National Bank of Long island, Tan served as Associate General Counsel at Bethpage FCU, one of the largest credit unions in the country. At Bethpage, he led a team of internal and external professionals to address the full spectrum of corporate compliance and legal matters and projects. This included serving as Chair of the organization’s Compliance Oversight Committee which managed the compliance infrastructure at Bethpage’s correspondent services operations centers in Maryland and Colorado.
Before Joining Bethpage, Tan held positions at Commerce Bank (now TD Bank) and the Office of the Attorney General of New York.
Tan resides in Hollis Hills, Queens with his wife and three children, where he enjoys reading, watching movies, studying history, art, and fatherhood.
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Dominique has over 20 years of financial services industry experience and deep expertise in Risk, Technology, and Operations. In his current role, he leads a team of risk and control professionals performing essential enterprise control functions across the company including Third Party Services, Business Continuity Planning, Data Management Operations, Data Loss Prevention, and Business Risk and Control Services. The functions performed span all lines of business and corporate functions across the Americas region. The department is also accountable for spearheading the company’s efforts to understand and manage data privacy, fraud, conduct, reputational, and strategic risk.
In 2020, Dominique guided the firm’s response to the COVID-19 pandemic. He seamlessly navigated the company from a typical 95% work from the office environment to a 98% work from home environment while continuing to effectively meet business requirements and service client needs. Dominique was also instrumental in developing the plan for reintegration of staff back into the office under the “new norm” leveraging the successes learned from the pandemic response.
Dominique also built out and implemented the Americas Operational Risk Management framework and related risk policies. He architected the firm’s Operational Risk Appetite Statement and designed the Key Risk Indicator Program.
Prior to joining Mizuho, Dominique has worked in similar capacities for some of the world’s leading global banking institutions including Goldman Sachs, Morgan Stanley and Citigroup. Dominique holds an MBA and a BS in Industrial Engineering from Rutgers University in New Jersey.
In his role at BBVA, Jason Buchanan is responsible for Internal Control & Operational Risk in the US. His teams manage the New Products Admission process, Corporate Assurance, Reputational Risk Governance, Operational Loss Management, and the methodology by which operational risks are identified, measured, and mitigated in all U.S. entities. Jason is also separately responsible for challenging the effective management of IT, Fraud, and Security Risks in the US. His team manages the systems of record for all operational risks and for operational loss management.
Active in supporting the civic and social responsibilities of the bank, Jason was the President of the Houston Chapter of BBVA Compass Volunteers during 2015 and 2016. After serving the volunteer chapter, he founded a local non-profit organization in his community.
Jason began working with BBVA USA in February 2011 and has previously held senior leadership positions within Commercial Risk & Portfolio Management, Risk Data Management, Enterprise Risk Reporting, and in Wholesale Risk Scorecards.
Director, Cyber and Third Party Risk
Chief Risk Officer (Retail & DC)
Legal & General Investment Management
SVP US Operational RIsk Management
Head of Model Risk Management
Ian leads UK Finance’s operational and policy work on cybersecurity and third party risk management. In this role he engages with key industry stakeholders to determine the applicability of collective action on behalf of the financial sector. Through this engagement he is currently creating a single standard to assess the resilience of critical suppliers, having previously operationalised the Financial Sector Cyber Collaboration Centre (FSCCC), an industry utility designed to promote cyber intelligence sharing amongst financial institutions.
Before joining UK Finance Ian worked for BNY Mellon, where amongst other things he led the development and deployment of a global system to map technology risk regulatory controls to global cyber, technology and data privacy regulations. Prior to this he served as a British Army Officer for eight years.
Simon Cartlidge is Head of Risk (Retail & DC) within Legal & General Investment Management. Simon has spent 20 years with Legal & General, previously holding a variety of senior risk management roles in Group, retail investments, and banking business units.
Simon worked on the Solvency II programme, focusing on Pillar 2 (risk framework). Immediately prior to his current role, he was responsible for the Group-wide operational risk framework. Prior to Legal & General, Simon worked for Bradford & Bingley Building Society, as Credit Risk Manager in their retail mortgage business.
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As the Head of Model Risk Management for Signature Bank, Albert is responsible for ensuring that all models used by Signature follow FIL 22-2017 (i.e. SR 11-7 and OCC 2011-2012). These model types include ALM, Liquidity, CECL, Stress Testing, DFAST and AML/BSA. Albert’s involvement in model risk management began when he accepted a position at Citigroup to validate AML/BSA and CCAR models. Prior to working in the model risk space, Albert held policy-related roles at TIAA-CREF, the Federal Reserve Bank of Philadelphia and the Commodity Futures Trading Commission which gave him the opportunity to perform research and present his work during outreach engagements. Albert holds graduate degrees in both economics and statistics.
Chief Risk Officer
US Head of Internal Controls and Risk Management
Bahamas & Chile Itau International Bank
Brandon James Davies
Trustee & Lecturer
International Institute of Monetary Research, Buckingham University
Global Head of Markets and Securities Services Operational Risk Coverage
Lewis is the Chief Risk Officer of Breaking Wave, a fintech inside of Deutsche Bank. Prior to Breaking Wave Lewis led the Fintech Risk function within Deutsche Bank, and has held a number of risk roles spanning Capital Markets, Corporate Banking and Risk Management. His remit is to drive risk-considered innovation with new technologies, and to transform risk management into an embedded service.
Patricia has over 22 years of Corporate Level experience in the Legal, Auditing, Risk and Compliance departments. Patricia began her career working as a Lawyer and Auditor for Serv Cadastro e Cobranca Ltda responsible for legal coordination and implementing internal auditing in its departments in Brazil. She joined Itaύ Unibanco in 2000 starting in Audit and moving to areas such as Compliance and Internal Controls. Patricia has led teams and implemented new methodologies to mitigate risk and increase innovation and efficiency. In 2014, Patricia began her International experience with Itaύ working with Itaύ Caribbean and Miami responsible for the Internal Controls department. In 2017, Patricia became the Head of Risk and Internal Controls for Itaύ U.S overseeing Financial & Operational Risk and Internal Controls.
Following her graduation with a Law Degree from the Universidade Estadual de Londrina, Patricia obtained a Corporate and Economic Law Post graduation Degree from Fundacao Getulio Vargas in SP. In addition, Patricia attained an LLM in Financial and Capital Markets Law from IBMEC/Insper, and an LLM in Corporate Law. Patricia is also a Certified Internal Auditor (CIA) and a Certified Control Self Assessment (CCSA).
Brandon is a Trustee of the International Institute of Monetary Research and of the Responsible Finance Investment Foundation. He is also a Non-executive director of Lintel Financial Services Limited and lectures at Buckingham University on their MSc degree in Money, Banking and Central Banking.
Brandon is a member of the Financial Markets Group at the London School of Economics and sits on the advisor panels for the Professional Risk Managers Association and The Centre for the Study of Financial Innovation and Long Finance.
Brandon retired from Barclays Bank in 2004 where he was Treasurer of retail and corporate banking and a member of the banks Executive Committee. Prior to this appointment he was Head of Structured Products at Barclays Capital.
Nick Diieso is a Director at Citigroup where he heads global Operational Risk business coverage for Markets and Securities Services and serves as the Head of Operational Risk for Citi Global Markets, Inc (the US broker-dealer). Prior to Citi, Nick was globally responsible for Operational Risk for the infrastructure functions at Deutsche Bank, served as a first line risk director and business CAO for the Specialty Commercial arm of Santander Bank, and served in corporate finance and audit capacities at GE Capital, MathWorks, and TJX.
Head of European Business Development, Product Strategy & Client Solutions
Senior Lead – IBOR Transition Programme
Director, Enterprise Operational RIsk
Mariana Gomez de la Villa
Program Director Distributed Ledger Technology
Previously, Charles held the position of COO of Operations & Technology for Group Data, Reconciliations and the Client Data Confidentiality Programme at UBS.
Before joining UBS 7 years ago, Charles was with ERNST & YOUNG in London in the Risk Advisory practice. Charles has previously held roles managing risk and operations for Goldman Sachs, JP Morgan and Barclays.
He began his career at the UNITED NATIONS managing technology and operations to support military peace-keeping operations and humanitarian programmes.
Maurizio Garro works as a Senior Lead BA for the IBOR Transition programme at Lloyds Banking Group, where he is leading the delivery of the changes required for models, curves and products for the transition to the alternative risk-free rates for the Front and Back book. His background is in quantitative risk management, Model Risk, Market Risk, Counterparty Credit Risk, Pricing, Liquidity and Stress Testing.
He has a long-standing experience as an internal auditor, consultant and banker in model risk management and previously worked in the Development and Validation teams of top-tier financial institutions in Europe, U.S., and the U.K. for over 15 years.
Maurizio is a frequent speaker on various topics in risk management, a member of the Institute of Internal Auditor and the Director of the Global Association of Risk Professional (GARP) London Chapter.
He has been supporting as mentor start-ups involved in the development of AI/Machine learning products.
Maurizio Garro received his Master Degree in Economics from the Bocconi University of Milano and a certificate in Financial Risk Management (FRM) from GARP.
Hafsteinn (Haffi) is an Operational Risk professional that started his career in risk in the turmoil surrounding the fallen banks in Iceland in 2008. He then moved to New York in 2013 continuing his profession at CIT in Operational Risk.
A self-described romantic when it comes to Operational Risk and its potential in the world of finance and a firm believer that Operational Risk can be instrumental in bridging qualitative risk functions to improve overall risk management. He has decade of experience in both implementing and managing Operational Risk framework elements and capital calculations. In recent years he has had the opportunity to play a key role in convergence that broadens the scope of the Operational Risk Framework to other Enterprise Risk areas.
He has obtained a Bachelor degree in Industrial Engineering from Reykjavik University and a Master’s degree in International Economics and Finance from the Newcastle University Business School in England. Certified GARP FRM and is a licensed securities broker in Iceland.
Mariana Gomez de la Villa has joined ING in 2015 and is currently the Distributed Ledger Technology Program Director at ING, with overall responsibility for driving research, development and implementation of Distributed Ledger Technology as well as capitalizing on its potential in order to unlock mass-scale value.
Under Mariana’s leadership, the Blockchain program has delivered over 44 proofs of concept and 8live pilots in collaboration with the following business areas: payments, trade finance and working capital solutions, financial markets, post-trade, bank treasury, lending, compliance and identity.
Mariana is also responsible for setting up long-term purpose and vision, including the governance of the program within ING globally. Mariana is an active leader in global consortia, outlining the Distributed Ledger Technology strategy and envisioning market landscapes.
Mariana’s accountabilities include the definition of products, services and business models, as well as foresight to business, technology, leadership communities and international stakeholders, including regulators.
Senior Advisor in Operational Risk and Resilience Division
Bank of England
Head of Partner Management
Bank of Ireland
Head of Non-Financial Risk
Global Markets Risk Analytics
Bank of America
Karen has over 25 years of experience in the financial services industry. Karen started her career in the Life and Pensions Industry. For several years Karen managed new product development. This spanned working across Marketing, Investment, Business, Operations and IT; to convert concepts into tangible live products that could be marketed, sold and serviced.
From there Karen moved into consultancy and advisory work and joined KPMG. This move allowed Karen to branch out into the Banking side. For several years Karen specialised in mergers and acquisitions, business performance improvement, outsourcing and cost transformation. All of which allowed her to deepen her knowledge and experience of firms business and operating model specialising in IT and Operations.
Karen moved in to regulation, initially as part of the FSA, later subsumed into the Bank of England. Karen is a Senior Advisor within the Operational Resilience Division, responsible for developing the micro prudential supervisory approach for operational resilience. Her specialism over the last 10 years has focussed on firms business operating model; focussing on three aspects, business model development, business operating model optimisation and operational resilience, to consider the risks that can arise and assessing firms mitigation strategies.
Paul is currently responsible for the governance, oversight and reporting of the overall sourcing profile of the Group in relation to all third party arrangements. This includes risk, end to end supplier management for strategic partners and governance of key procurement activity, including the Supplier Due Diligence and regulatory approvals processes.
He has held similar positions at Lloyds Banking Group, building a Supplier assurance programme, defining policy and setting Supplier customer treatment standards. He has held roles as both an IT and operations outsourcing programme manager, implemented new global workflow platforms, run investment banking and retail operations teams and been a Head of Internal Audit. He splits his time between the UK and Dublin every week and is not happy that Ryanair don’t have a customer loyalty scheme.
Hasib started his career in 2005 as a Chartered Accountant, specialized in Operational- and IT Risk Audit & Advisory at PricewaterhouseCoopers. He worked as NFR Manager at ASR Bank / ABN AMRO in The Netherlands. In 2011 he joined ING and held several positions from Sr. ORM/IRM Officer to Principal Product Manager and Project/Programme Management at ING Group. Hasib worked in all 3-Lines-of-Defence and is able to blend his broad expertise from different perspectives.
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Dr. Jimi Hinchliffe
Director and Founder
NJ Risk and Regulatory Consulting Ltd
Head of Risk for IT Change and New Technologies
Lloyds Banking Group
Senior Banking Sector Risk Professional
Royal Bank of Scotland
Jimi has over 25 years’ experience in operational risk, compliance and regulation. After completing his PhD. on financial regulation and public choice economics, Jimi joined the UKFSA where he worked first as an operational risk policy specialist, then as a bank and investment bank supervisor, and finally as Technical Specialist on Operational Risk and then the lead on Basel 2 Implementation in Wholesale Firms Division. He then joined the GSIFI MUFG and for 8 years led teams on regulatory affairs, risk and compliance policy.
Since 2016 he has managed his own risk consultancy NJ Risk and Regulatory Consulting supporting a range of clients on operational risk and regulation, including operational risk framework development, GRC implementation, RCSA and operational resilience. In 2020 Jimi formed The JADEtc Partnership with senior industry professionals Andrew Sheen and David Goodyear to provide support to firms including on operational risk and operational resilience.
Since 2017 Jimi has been Chairman of the Institute of Operational Risk (IOR) – England & Wales. Jimi is also a Fellow of the IOR and a Technical Specialist member of the Institute of Risk Management and a Member of the Chartered Institute for Securities and Investments.
Prior to working at Lloyds, Angela worked At Deutsche Bank in the Cloud, Anti-Financial Crime Analytics, Data Quality and Finance Risk and Regulatory Reporting change and transformation teams.
Before joining Deutsche Bank, Angela 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 advisory programmes. Angela started her career at IBM in Australia working as a developer, tester, designer and then business analyst and project manager.
Angela has an honours degree in Mechanical Engineering (Mechatronics / Robotics) and Computer Science from the University of Melbourne, Australia.
Casey Jia is a Director in Strategic Risk of the RBS Group, having joined the bank in 2016. She is responsible for strategic risk oversight and risk insight to the CRO & rating agencies, focusing on holistic risk management at the group level.
Casey has more than 15 years of risk experiences in both Europe and Asia. She held group risk roles in Deutsche Bank including Board risk reporting, portfolio risk management, country risks and ICAAP. She advised many banks in China and Southeast Asia on credit risk modelling and best practices in risk measurement while working at PwC Beijing.
She holds a MSc in Financial Engineering and Quantitative Analysis from ICMA centre, the University of Reading, and a MA in Accounting and Finance from Lancaster University.
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Global Head of IT and Third Party Risk Management for CIB
Director of Risk & Controls
Head of Operational Risk & Financial Crime, MLRO Risk UK
Bank of Ireland UK
Sabeena Ahmed Liconte
Deputy Chief Operating Officer & Chief Legal Officer
BOC International USA Holdings Inc., a member of the Bank of China Group
Amit Lakhani has wide and varied experiences in managing risks across key areas such as cyber and third party services risks for organisations of all sizes. He started his career working as a consultant with Accenture where he developed and deployed multi-million dollar programmes involving compliance and risk elements, especially information security and cyber risks. Further, Amit worked at large multinational organisations in his role at KPMG driving strategic decision-making, investments and risk reduction programmes.
In his current role, Amit looks after third party/vendor risk management across the Corporate and Institutional Banking division for BNP Paribas. He has developed and is embedding global third party risk management initiatives and more importantly raising the risks at Boards and Executive Committee levels to have clear visibility on the identification, assessment, monitoring and reporting of third party services risks. The global role entails him to face up to regulators across many geographies, develop and establish solutions that are generic but addresses key risks that BNP Paribas faces in its operations.
Colin Last is the Director of Risk & Control at Nationwide Building Society, having joined the Society in 2015. During this time Colin has led the development of the Operational Resilience Strategy and is accountable for the Risk and Control Framework that enables operational resilience outcomes throughout the various business units of the Society. His work is key in ensuring the development, operation and delivery of products and services to Nationwide Building Society’s Members. Colin has over 15 years’ experience in the development of risk and control management systems, cross-sector to include utilities, nuclear and gaming as well as financial services. Colin has a technical specialism in Secure e-commerce, digital identities and payments for which he has a MSc.
Polina is an experienced financial services risk professional. She has worked in large financial services institutions, including Barclays where she managed Operational Risk in UK Retail 2ndline and RBS Group where she led the Internal Capital Adequacy Assessment Process (ICAAP) for the Group and its main legal entities. Polina has regulatory experience having worked for the FSA as a prudential supervisor of a major UK Banking Group. She joined Bank of Ireland UK in 2014 to head up a 2nd line function focusing on non-financial risks (operational risk, information security and cyber, fraud and money laundering / terrorist financing / sanctions and bribery and corruption risk. She holds SMF17 (Money Laundering Reporting Officer). Polina’s earlier career was in accounting and internal audit. Polina holds a Master’s in Business Administration with a concentration in Finance from the University of Texas.
Sabeena serves as Deputy Chief Operating Officer and Chief Legal Officer to the investment banking division of Bank of China International – specifically, BOC International (USA) Holdings Inc. 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 served as Futures & Derivatives Counsel and Compliance Advisor to E*TRADE Financial Corp., E*TRADE Clearing Corp. and E*TRADE Securities Corp. Her previous professional work also includes 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, the Securities Fraud Prosecution division of the Attorney General’s Office for the State of New Jersey, General Counsel and Chief Compliance Officer to Alpari (US), LLC and Alpari Securities LLC.
Sabeena is licensed to practice law in New York and New Jersey and is an active member of the American Bar Association, the New York State Bar Association and the New Jersey State Bar Association. She holds a Bachelor of Arts in Criminology and Political Science from the University of Toronto, a Master of Arts in International Relations from Columbia University and a Juris Doctor from the St. John’s University School of Law. She also serves as Chair for the New York County Lawyer’s Association Futures & Derivatives Committee, and member of the Foreign and Comparative Law Committee and Futures and Derivatives Committees of the New York City Bar Association.
Director of Internal Audit
Prudential Financial Inc
SVP/Director of Operational Risk Management
Managing Director – Risk Managment
Head of Risk and Compliance
Motor Insurers’ Bureau
Julia Lo is a Director of Internal Audit at Prudential Financial Inc. specializing in Enterprise and Investment Risk. She has over 15 years of banking and insurance risk management experience, as well as risk advisory experience focused on driving cross-functional risk collaboration in the financial services industry. In her current role, Julia evaluates Prudential’s risk and investment practices, including enhancements to the Company’s principal risk frameworks, policies and risk reporting. Prior to joining Prudential, Julia served as the Chief of Staff to the Americas Chief Risk Officer, and as a credit officer covering North American Financial Institutions at Standard Chartered Bank. Julia holds an M.B.A. specializing in Financial Analytics, Finance and Marketing from NYU Stern School of Business, and a bachelor’s degree from Boston University.
Jennifer was in the field of finance for 14 years and now has added 5 years in banking corporate risk. She started her career at the Federal Reserve Bank of KC after receiving a BA in finance/management. In her nearly 7 years at the Fed she worked with phenomenal people and had mentors that encouraged her to further her education. She obtained a MA in Economics and has all but the dissertation completed on a PhD in Economics and Public Administration. She then worked for DST Output and Pioneer Services as a Director of Finance. For the past 5 years, while at UMB, she has built the model risk management program from the ground up and acquired other operational risk management responsibilities such as third-party risk management onboarding and monitoring, corporate insurance, and contracts management.
Stephan Meili is a Managing Director at Citi leading the Convergence Risk effort for the investment, corporate and private bank. Previously, he was Global Head of Market Risk for Securitized Products Trading and Municipal Derivatives at Barclays. Stephan has 20+ years of financial markets experience in Europe, US and Asia ranging from risk management (market, credit and operational risk) and asset management to quantitative modeling and model validation for investment banks, asset managers and consulting firms. Furthermore, he has represented banks at industry forums and conferences on financial regulation and has taught courses on derivatives, regulation and risk management at the Federal Reserve Bank and at Columbia University. He holds a MS in Finance from Northwestern University and a degree in economics and business administration from the University of Basel, Switzerland. He is also a CFA, FRM and CAIA charterholder.
I am a CeFPro NFR Advisory Board Member & Head of Risk and Compliance for Motor Insurers’ Bureau. This covers the back-office operations and technology units of the Retail Bank. I left Oxford University with a degree in Physics and trained as an Accountant at Andersens working in Birmingham and Melbourne. After that I worked as an Internal Auditor, then in Operational Risk at Barclaycard.
Director, Operational Excellence, Global Commercial Services
Managing Director – Enterprise Risk Analytics and Reporting
Senior Vice President, CRO & CISO
US Head of Operational Risk Management
Vasanth currently serves as Director of Operational Excellence within American Express Global Services Group that is comprised of key internal and external servicing functions and delivers customer care to card members, merchants and commercial clients of the company. Vasanth works closely with control functions and business leaders to implement operational risk framework and also to stand up critical control programs that support operational risk within the company.
Vasanth has a broad range of experience within American Express, holding roles in implementation of Next-Generation payment platform in international markets; driving Information Security and internal control program within Technology Services group , and recently, leading Issue Management program for the company. Vasanth is passionate about Operational Risk topics and has worked with leaders to drive enterprise risk management and implement best practices that directly impact operational risk, controls and compliance, growth and service quality.
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As Senior Vice President and Chief Risk Officer for Ulster Savings Bank, located in Kingston, NY, I am responsible for oversight of all Bank risk management functions, including the Bank’s Legal and Compliance departments; I also serve as the Chief Information Security Officer. I previously served as Vice President and Risk Manager at Bankwell in Bridgeport, CT, as First Vice President and Audit/Compliance Officer at Naugatuck Valley Savings and Loan in Naugatuck, CT, and as Senior Attorney with the FDIC. I hold a Master of Business Administration degree from the University of Rhode Island, a Juris Doctorate from the University of Houston, and a Bachelor of Arts degree in Economics from Tulane University.
Twenty-two years of banking experience with an emphasis on risk and controls. Mr. Nestore is the Head of US Operational Risk Management at TD Bank, America’s most Convenient Bank. He has been with TD for seven years and has held a variety of roles in Risk Management and Finance including previous work leading the Segment Risk team in Operational Risk. Most recently, he was providing strategic oversight and assisting in the execution of the CCAR strategy.
Mr. Nestore initially joined Operational Risk Management in November 2013 as the Segment Risk Director responsible for leading the Segment Risk Team that provides second line challenge to the major revenue producing US business lines. Those business lines include: Consumer Banking, Regional Commercial, Corporate & Specialty Banking, TD Wealth and Epoch . He joined TD in April 2011 as the Head of Finance Governance and Shared Services where he led teams responsible for: Governance, Controls & Risk, Project Management Office, FDIC Liaison Team, Reconciliation Control Unit, General Accounting and Fixed Assets/ Accounts Payable.
Chief Risk Officer and member of the executive board of Knab / Aegon Bank N.V.
Chief Control Officer – Senior Manager
Director, Risk Governance & Risk Intelligence
BMO Financial Group
SVP, Head of Advocacy, Risk and Monitoring
Ebbe is employed as the CRO (Chief Risk Officer) of Aegon Bank/Knab. As a member of the executive board of Knab he is co-responsible for the management of the bank. Till 2017 Ebbe worked as Head of Regulatory Risk at ABN AMRO and was highly involved in the innovative strategy of the bank. Till 2010 Ebbe was employed as a Managing Director Risk Management at ING Bank in Amsterdam and several years in Hong Kong.
He has over 20 years risk management experience, including strong expertise in Regulations. He is well experienced in the oversight of all risk categories: Credit Risk (real estate finance, SME financing, and consumer lending), Market Risk (responsible for Asset and Liability Management at ING Bank), Non-financial Risk (e.g., Outsourcing risk at Aegon Bank), Real Estate investment risk, (4 years as a senior Managing Director at one of the largest real estate company in the world), Investment Risk (responsible for the risk management of all ING Life investments in the Asia Pacific region), Regulatory Risk (head of the department at ABN AMRO) and Model Risk (one of the initiators of the risk category when employed ABN AMRO). As a leader Ebbe has a visionary, mind, is adaptive to change, and likes to take intelligent risks. He has two MSc’s (mathematics and econometrics) and a PhD in Operations Research and he never stopped learning.
Nison Nagdimov is a Senior Operational Risk Manager at Citi overseeing the operational risk framework for various functions, such as digital and traditional marketing, data management, customer experience, sales reporting and goals setting, and a retail virtual branch across the U.S. Retail Bank and Mortgage businesses. In his current function, he manages approximately 300 controls, has successfully implemented a records management oversight program and a critical systems and applications oversight program, and conducts periodic training and reporting on significant operational risk management. In his prior role at Citi, he managed non-financial risk globally in the Institutional Clients Group focusing primarily on financial crimes risk and controls, managed issues and operational losses, supported regulatory exams, audits, and tests, and led controls testing. He has also previously worked at HSBC U.S. Private Bank and led the identification and management of non-financial risk for the investment services, insurance, custody, and trust businesses. In this role, he was responsible for assessing plausible risk events, overall control environment effectiveness, and inherent and residual risks related to regulatory compliance, financial crime compliance, information and cybersecurity, employment practices, tax, legal, operations, safety and infrastructure, and internal and external fraud. His other prior experiences have spanned across several roles in project management, finance, and accounting. Nison is a Certified Anti-Money Laundering Specialist (ACAMS) and is an active member of the Association of Certified Anti-Money Laundering Specialists.
I am a Director in the Model Risk team for BMO with responsibility for oversight of Model Risk requirements within the 1st and 2nd Line, model risk reporting, issue management, and evolution of the Model Risk Framework for Artificial Intelligence and Machine Learning. I have held various Model Risk roles including Model Validation, focused on CCAR, Basel, and financial models, stress testing and capital analytics, and as a regulator for large US Banks focusing on SR 11-7 implementation and CCAR. I hold an MBA from the University of Chicago, Booth School of Business, a BSc in Mathematics & Financial Mathematics from University College Cork, and am a certified FRM.
First and Foremost. Family time is special. I have been a husband to my beautiful wife for over 32 years, a dad to our awesome girl for 25. I enjoy working around the house, building hot rods, fly old airplanes and riding horses with my girl – it is our father-daughter time, we get to go places and see things in a manner that few do.
As the head of Anti-Money Laundering (AML) Risk and Monitoring I have the privilege to champion an amazing team who delivers with pride every time. My team provides leadership to Regulatory Advocacy and Change Management, new Products and Services that the Bank wants to bring to market, objective evaluation of business line compliance to AML requirements, evaluation of AML surveillance systems and execution against Operational Risk Management requirements.
I am based in South Carolina, travel frequently to Mt. Laurel where most of my team is based
AML work continues to evolve and provides an ongoing challenge with new technologies and enhanced regulations. I am passionate about paying it forward by identifying and fostering leaders. It has become one of my daily principal drivers.
Director – External Cyber Assurance & Monitoring
SVP, Director, Third Party Risk Management Governance
SVP, Head of Model Risk Management
Mandy Ramlow, CAMS
Managing Director, North American AML Financial Intelligence Unit Head
BMO Financial Group
Nimesh Patel heads up Supplier Lifecycle Due Diligence at Barclays for External Cyber Assurance and Monitoring within the organisation and brings a unique blend of Financial Services experience and Cyber security skills to strengthen the assessment and assurance process for Barclays vendors. He has over 20 years financial services experience. By utilising his new processes new contracts, material changes and exit of services fall into the scope of his team for due diligence.
Jeremy has over ten years of experience and expertise in the financial services and legal sectors, and is currently a Senior Vice President and the Director of Governance in the Corporate Third Party Risk Management group at U.S. Bank.
Jeremy is responsible for overseeing various functions and teams within the centralized, enterprise TPRM Program, including quality assurance, policy and audit/exam management, fourth party risk, joint venture/strategic alliance risk, merger and acquisition operational risk, enterprise RCSA third party risk and external risk request management. Jeremy graduated with an Economics degree from the University of Minnesota and a Juris Doctor from the William Mitchell College of Law in St. Paul, MN. Prior to U.S. Bank, Jeremy worked for a legal publishing company and subsequently clerked for a District Court Judge in Hennepin County, MN.
Roderick Powell is SVP and the Head of Model Risk Management at Ameris Bank. Prior to joining Ameris, Powell was a Director at KPMG LLP where he specialized in assisting financial institutions in model development, implementation, and validation. He also worked as a Senior Capital Markets Specialist at the Federal Reserve Bank of Atlanta where he was responsible for validating quantitative models. Powell spent ten years at Bank of America where he worked in the Quantitative Finance and Market Risk Management Groups.
Powell co-founded the Atlanta Chapter of the Global Association of Risk Professionals (“GARP”). He is a frequent writer and speaker on the use of A.I. and machine learning in financial institutions. Powell earned a B.S. degree in Finance and MBA at Florida State University. He also studied A.I. and Machine Learning at Emory University. He is a Certified Financial Risk Manager (“FRM”) and a Certified Bitcoin Professional (“CBP”).
Mandy Ramlow is a financial services professional with over 25 years of banking experience, of which the majority have been spent in the AML and Compliance field. She joined Bank of Montreal (BMO) in 1996 and has held numerous progressively more senior roles throughout the bank including in the branches and Compliance before joining AML in 2004. She has played key roles in supporting integration/merger activity and managed a number of different Financial Intelligence Unit (FIU) teams before taking on the role of U.S. AML FIU Director in February 2014 and now the Managing Director of the AML North American FIU overseeing the U.S and Canadian jurisdictions (2019).
Mandy is a thought and process leader who has led and implemented numerous risk processes and key efficiencies, including the introduction of Robotics within AML and working with Model Management leaders to leverage AI (Artificial Intelligence) to enhance detection models. Mandy is an active industry participant leading the way in working with law enforcement, fraud leaders and others in the industry in proactively identifying money laundering trends.
Mandy began her banking career at the Commonwealth Bank of Australia, in Sydney Australia, prior to moving to the United States, where she has a B.A from the University of Wisconsin and is currently working on her MBA with a concentration in Business Intelligence. Mandy has been CAMs certified since 2008.
Director, Operational and Insurance Risk Management
Principal in the Wolf/Rosengarten Group
Head of Risk
John Schiavetta, CFA
SVP, Deputy Chief Risk Officer
Theresa Reynolds has more than 20 years of experience in Financial Services, working across both the first and second lines. She currently leads Capital One’s Operational Risk Management Validation program as well as our Insurance Risk Management program. As the Validation lead, she owns the methodology which enables independent control assurance activities across the Operational Risk spectrum. Additionally, her team is responsible for providing assurance for several Operational Risk Management programs that have broad impacts across the company. As the Insurance Risk Management lead, she ensures that Capital One mitigates several major types of risk through procurement of appropriate insurance policies. Her Insurance Risk Management team provides financial risk transfer solutions to help mitigate a broad range of risks for the Enterprise as well as providing consultative services for third party contracts across the company.
Jacob Rosengarten is a Principal in the Wolf/Rosengarten Group, where his consulting expertise spans Accounting, Governance and Enterprise Risk Management (“ERM”).
Jacob was Chief Enterprise Risk Officer for XL Group Ltd from September, 2008 through December 2017. He was Chairman of XL Group’s Enterprise Risk Committee; his responsibilities included the identification, assessment, monitoring and reporting of key risks across XL Group companies. This included establishment of policies designed to promote a strong ERM process, playing a leadership role in XL Group’s Solvency 2 (and equivalence) initiatives and in maintaining a top tier economic capital modeling program.
Prior to joining XL Group, Jacob 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 (acquired by Goldman Sachs in 1997). Between 1983 and 1992 he held progressively senior positions at Commodities Corporation as Director of Accounting, Assistant Controller, and then Controller. Jacob 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 has served as a member of the Board of Trustees for the Global Association of Risk Professionals (“GARP”), and continues to serve on the University of Connecticut’s MSFRM Board of Advisors.
Gary Savill is Head of Risk for Saga Group and has over 12 years of extensive risk management expertise, working previously in general insurance for AXA UK for 10 years and as Deputy Head of Operations for Sanlam Investment Management for 4 years. Gary is a Chartered Management Accountant, qualifying whilst working for Nestle UK and is also a Specialist member of the IRM and member of the Institute of Management.
Gary have extensive experience of Solvency II, capital modelling, risk frameworks, conduct risk, risk culture, third party risk oversight and building high performance teams.
John Schiavetta is Deputy Chief Risk Office for AB, overseeing aspects of risk management to ensure that risks being taken are well understood and appropriately managed. Schiavetta joined AB in 2008 as Director of Risk Management with responsibilities for Fixed Income Risk, Liquidity Risk, Counterparty Risk and Valuation. Previously, he was at Fitch Ratings for 15 years, most recently as group managing director responsible for managing the agency’s global structured credit-ratings group. Prior to that, Schiavetta was product manager at the pension-consulting firm CDA Investment Technologies. He began his career at the Dreyfus Corporation. Schiavetta holds a BA in economics from Bates College and is a CFA charterholder. Location: New York.
AJ Sheen Consulting Limited
Director of Model Risk Management
CEO & Founder
Deputy Head, CCAR Operational Risk
Andrew is best know for the 8 years he spent at the UK regulator, firstly in the FSA and subsequently at the PRA. During his time at the regulator, Andrew managed the Operational Risk Review team and represented the UK on the BCBS’ and EBA’s Operational Risk working groups. After life at the regulator Andrew joint HSBC and then Credit Suisse before retiring in 2019 and setting up a consultancy to provide assistance and training in Operational Risk matters. Andrew actively promotes the development and discipline of Operational Risk and is a Fellow of the Institute of Operational Risk.
Senior Vice President, US Head of Operational Risk Policy, Framework, and Capital
Director of Operational Risk Management
VP, Vendor Management
Nordea Bank, International Division
Operational Risk Business Oversight Officer
Jack Sprague is a Senior Vice President and the Head of Operational Risk Policy, Framework, and Capital for the Americas at HSBC.
Jack has worked at HSBC since 2010 and in his current role, he is responsible for designing the Operational Risk framework in the US and developing associated policies and procedures. He is also responsible for the firm’s Operational Risk CCAR program and regional submissions to support global stress tests and economic capital calculations.
Previously, Jack was the Head of Business Risk and Control for the Private Banking division in the Americas, where he implemented a first line risk management program and managed risk and control teams across the US and Latin America. Jack has also held Operational Risk advisory roles at HSBC.
Tom has over 20 years of financial services industry experience and is currently a Director of Operational Risk Management at Mizuho Bank in the Americas Risk Department. As part of the 2nd line of defense, Tom is responsible for the creating the Operational Risk Framework and implementing the tools, including the KRIs, RCSA program, establishing and maintaining the Control Library and Risk Taxonomy, Key Risk Assessments, and integrating the GRC system to all business lines across U.S. operations.
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.
Hands-on and results-driven Risk Management Executive with 25+ years of leadership expertise in internal audits, regulatory compliance, controls, and overall strategic audit planning/execution for companies such as CLS Bank, Credit Suisse and UBS and BNP Paribas.
Strong, energetic leader with forte in streamlining processes ensuring compliance with regulatory standards; extensive experience launching internal audit and risk management operations.
Trusted and active advisor in dissecting, analyzing and presenting key strategic financial solutions to executive leadership.
Active volunteer and board member with Bridges Outreach since 2015 focusing on feeding and servicing people in need in NJ and NYC, providing input into the strategic planning process and doing fundraisers with local businesses and schools.
Freek van Velsen
Chief Audit Executive
LeasePlan Corporation N.V.
Head of Transformation (group) and Head of America’s CIB validation – RISK IRC
MD, Head of Integrated Analytics
State Street Corp
Katherine Zhang is a MD and the head of Integrated Analytics Team at State Street. She is currently leading this centralized analytic team within ERM & Compliance to provide either quantitative analysis or model development services in both financial risk and non-financial risk area to all business units at State Street globally, such as operational risk, compliance analytics, IT risk, credit risk, scenario forecasting, investment portfolio oversight, etc.. She led the model validation team for three years after she joined State Street in 2015.
Prior to joining State Street, Katherine Zhang has 20+ years of experience in model risk management, either model development or model validation to support Basel II compliance, regulatory and economic capital, stress testing, allowance and pricing, and underwriting and equity/derivative trading experience in the early career. She worked for JPMorgan Chase and GE Capital before. Katherine Zhang is a graduate of University of Chicago with a MBA with concentration in analytics.
Providing a voice to the market, an assessment future trends and company rankings identified by the industry.
THE RESEARCH IS NOW CLOSED FOR 2021.
Expanding on last year’s research, this year will aim to provide clarity on upcoming trends and opportunities within the sector, and assess the current software available to manage those risks.