An event hosted by:
etc.venues 360 Madison, New York
OpRisk North America Day 1 - Oct 19
OpRisk North America Day 2 - Oct 20
Building ORM excellence - Oct 20
08:50 - 09:00
Moving beyond the common IT reference of ‘backup and recovery’ towards the scope of pandemic and climate risk, how resilient is your overall organisation? Take part in this anonymous audience survey on your mobile phone to determine how your firm benchmarks against your industry competitors.
former Lehman Brothers employees in 2008, former CRO and industry veteran now a founder of YACAMY ADVISORS
Marcelo Cruz is the Managing Partner of Yacamy Advisors, a boutique consulting firm. He is also the Editor-in-Chief of the Journal of Operational Risk and an adjunct professor at the New York University. Previously he was the Chief Risk Officer of Ocwen Financial and Aviva plc and global head of operational risk at Morgan Stanley and Lehman Brothers. He is always a junior partner at McKinsey & Co. He holds a PhD in Mathematics by the Imperial College in London, a M.Sc. in Financial Mathematics, an MBA and a B.Sc. in Economics.
09:00 - 09:30
Deputy comptroller for operational risk
Office of the Comptroller of the Currency
Kevin Greenfield is the Deputy Comptroller for Operational Risk at the Office of the Comptroller of the Currency (OCC).
In this role, Mr. Greenfield oversees development of policy and examination procedures addressing operational risk, bank information technology, cybersecurity, critical infrastructure resilience, payments systems, and corporate and risk governance. He assumed these responsibilities in November 2019.
Prior to this role, Mr. Greenfield served as the Director for Bank Information Technology for the Operational Risk Division where he managed a team responsible for developing, communicating, and interpreting policies for the OCC's supervision of technology operations at financial institutions. He represented the OCC on several interagency groups that focus on coordination and development of information technology risk management supervisory guidance for such topics as information security, resiliency, technology operations, corporate governance, and independent risk management.
Prior to being named Director for Bank Information Technology in 2014, Mr. Greenfield spent 14 years with the OCC's Large Bank Supervision Department, where he gained experience examining large and complex technology operations at several of the largest U.S. financial institutions. In this role, he held various technology supervision roles at large financial institutions based in Pittsburgh, Charlotte, and New York City.
Mr. Greenfield is a graduate of the University of Dayton and holds the Certified Information Systems Auditor professional certification.
09:30 - 10:15
Chief risk officer
Deborah Hrvatin is CRO and the Global Head of Institutional Clients Group (ICG) Operational Risk Management at Citigroup, reporting to the ICG Chief Risk Officer. Deborah is responsible for improving risk management, strengthening controls, and enabling profitable growth within risk appetite.
Deborah joined Citigroup in July 2017 from Deutsche Bank where she most recently was Managing Director and Head of Operational Risk for the Americas and the Global Corporate Finance division. During her 21 year tenure at Deutsche Bank, Deborah held numerous other roles including Head of Operational Risk for the Corporate Banking and Securities division where she was responsible for developing and implementing the division's operational risk management, supervision and information security framework. Deborah also held leadership roles within the business, including Chief Operating Officer for Deutsche Bank's Global Securitization Group.
Prior to joining Deutsche Bank in 1999, Deborah was an Equities Controller with Bankers Trust Company and also served as a Commissioned Bank Examiner with the Federal Reserve Bank of New York. Deborah received her BBA and MBA in International Finance from Hofstra University.
Former chief risk officer
Former MUFG Trust
Chief operational risk officer
Michael J. Abriatis serves as PNC's Chief Operational Risk Officer. His is responsible for leading the PNC Operational Risk program. This includes both defining and implementing the PNC's Operational Risk program as well performing independent risk management activities.
He previously served as Chief Operating Officer for Corporate and Institutional Banking. In this role he was responsible for building the C&IB Business Risk Office as well as client analytics, communications, sales reporting, Canada Branch oversight, continuous improvement projects, and client experience initiatives.
Abriatis joined PNC in 2003 and has held numerous positions across PNC. Previous positions include Sr. Basel Program Manager, CFO Corporate Banking, CFO Wholesale Bank (National City Bank), Sr. Sourcing Manager and Business Improvement Consultant.
Michael has an undergraduate degree from Washington & Jefferson College and a MBA from Case Western Reserve's Weatherhead School of Business.
10:10 - 10:50
US head of operational risk policy & framework
HSBC North America
Senior bank examiner, operational risk governance
Federal Reserve Bank of New York
Rick is a Senior Bank Examiner. He joined the Operational Risk Governance unit at the New York Fed in December, 2011 in the Financial Institutions Supervisory Group (FISG).
Rick began his career as a municipal finance attorney, then joined J.P. Morgan & Co., where played a variety of roles in markets and investment banking. In the late 1990s, Rick joined J.P. Morgan's original operational risk development team. There, he was responsible for framework development tasks and loss data collection and reporting systems. While at J.P. Morgan, Rick chaired the IIF subcommittee that drafted the finance industry's recommendations for Basel II event type categories, and later participated in the definition of loss data recording standards for the Operational Risk data eXchange (ORX). Before joining the Fed, Rick was an operational risk framework consultant for RiskBusiness International, designing customized taxonomic models and structured risk management programs for institutional clients.
Rick has been a writer, speaker and business school instructor on operational risk topics. He received a B.A. (Economics) and M.A. (Organizational Behavior) from Yale University, and a J.D. from University of Connecticut School of Law (Law Review, lead articles editor).
10:50 - 11:20
Effectively analysing the impact of specific scenarios on your business functions, processes and services
Successfully planning for recovery in the instance of an IT outage
How can firms actively monitor resiliency?
<p>Marshall Toburen is a GRC strategist with RSA Archer, providing strategic input to the development of risk-related solutions and advising customers on best practices relating to Operational, Third Party, and Enterprise Risk Management. Prior to joining RSA, Marshall served as SVP/Director of Enterprise Risk Management for a diversified financial services company based out of Kansas City, MO. In that capacity, Marshall was responsible for the company's enterprise risk management activities, including its ERM practices and technology solutions, information security, insurance risk transfer, loss management, third party risk management, Sarbanes-Oxley controls management and 302 certification process. Marshall has previously held positions in the financial services industry, including as Operational Risk Manager, Chief Audit Executive, IT Audit Director, and Assistant Controller.</p>
<p>Marshall holds an M.A. in Economics from the University of Missouri, B.A.s in Economics & Political Science from Baker University, and has received certifications as a CIA, CISA, and CBA (non-practicing).</p>
10:40 - 11:20
Rethinking resilience and business continuity: how has the pandemic impacted the way your organisation perceives and rolls out your resiliency strategy? Join leading practitioners and BC specialists as they explore how 2020 has universally reshaped operational resilience and fundamentally determined the future of BAU.
Each clinic is moderated by an industry expert offering a 5 minute introduction launching into an open Q and A allowing you to share and gain insights on the new sphere of resiliency. All clinics operate under Chatham House Rules.
11:50 - 12:20
Global head conduct risk
Tanya joined Credit Suisse in January 2017 from Citi where she spent 16 years in various senior Business, Risk and Compliance roles; her most recent roles included the North America Head of Conduct Risk and Head of Risk Management Practices for the US & Latin America International Private Banking Business.
At Credit Suisse Tanya is the Global Conduct Risk Head focused on the continual development of the Global Conduct Risk Strategy. She is a regular speaker on Conduct Risk at the biannual risk.net training industry training forum. Tanya obtained a Masters in International Affairs from Columbia University in New York, NY in May 2000 and a Bachelor of Arts in International Careers from the Lehigh University in Bethlehem, PA.
12:20 - 13:00
Making the invisible readily available and clearly defined: what analytics means for risk and operational risk
How are leading firms becoming risk-aware through analytics?
What’s next? Identifying the most pressing questions, understand the business case and cost savings, and establish how analytics can improve your processes within the risk department
Global head of core compliance services
Jim Barkley is a Managing Director of Credit Suisse, based in New York. He is the Global Head of Core Compliance Services (CCS) and a member of the Compliance Executive Committee. In his role, Jim is responsible for the bank-wide design and execution of central strategies related to Surveillance, Compliance Training, Policies, Monitoring & Testing, Control Improvements, and Conduct Risk. Jim also oversees the compliance coverage for regulatory adherence to Cross Border, Client Tax, and the Foreign Account Tax Compliance Act (FATCA).
Jim is presently the co-chair of the CARMC ICS, the Internal Control System cycle of the Executive Board’s Capital Allocation and Risk Management Committee.
Jim joined Credit Suisse in 2016 from JP Morgan Chase where he was Chief Administration Officer and Head of the Corporate and Investment Bank Compliance Practices. Prior to that, he was Head of Compliance Strategy across JP Morgan Chase and member of the Compliance Executive team. Jim is a well-known leader in the Compliance profession where he has pioneered many aspects of Compliance Risk and innovative technology. Before he entered the Compliance profession, he was a foreign exchange and proprietary trader/supervisor at various investment and commercial banks.
Jim holds a Bachelor degree from Columbia University and a Master in Finance from Baruch's Zicklin Business School.
13:00 - 13:30
What your organization needs to consider in an increasingly digital world
Audience survey: what keeps you awake at night? Key areas impacting the way you approach your third party and vendor risk strategy
What makes the success of your TPRM strategy a competitive advantage?
How do you delegate ownership of third party risk internally?
Making a comprehensive catalogue of risks
Effectively determining further action needed
• Why do third party risk approaches need updating?
• How your firm can diversify risk assessments
• Successfully implementing vendor risk assessment: how can this be done effectively and efficiently? Maintaining consistency in your approach
• Modernizing third party supply chain policies
Head of enterprise risk and control assessments
Massachusetts Mutual Life Insurance Company
Tim is the head of Enterprise Risk and Control Assessments, an area of Enterprise Risk Management (ERM). Tim joined MassMutual in 2006 as part of a team to implement a sustainable program to assess internal controls over financial reporting. Since joining the company, Tim has worked in a variety of risk management capacities including geographic risk concentration, Own Risk and Solvency Assessment (ORSA) and other regulatory risk compliance, and risk maturity assessment. Currently, Tim oversees multiple risk areas including Liquidity Risk, Operational risk, Model Risk, Financial Reporting Risk (including SOC 1 and SOC 2 reporting), and Third-Party Risk. Tim also oversees the Enterprise Risk Appetite and Top Risk programs that identify, assess and quantify the top risks facing the company in the immediate and long term in both normal and stress conditions.
Prior to joining MassMutual, Tim worked at Deloitte in the Audit and Assurance Department with a focus on the life insurance industry.
Tim graduated from the University of Richmond in Richmond, VA with a BS in Accounting and a BA in Religion.
Senior vice president, information security
Yonesy F. Núñez is the Group Information Security Leader for Wholesale, Wealth and Investment Management & International for Wells Fargo Enterprise Information Security. Prior to joining Wells Fargo, Yonesy was SVP and Group Information Security Officer – Enterprise Strategy for Citi’s Corporate Center Businesses where he helped promote business objectives by aligning and utilizing information security risk management as a business differentiator throughout Citi. He was also the Practice Leader for PwC’s Philly Metro IT Risk & Security Assurance Practice, CISO - Director of Information Security at The New School, CISO - Global Manager, IT Governance, Security, and Compliance at Pall Corporation where he introduced the first holistic global information security, IT governance, and compliance programs.
Director head of third-party risk management operational risk management
Director- Governance and Operational Risk Policy
OFFICE OF THE COMPTROLLER OF THE CURRENCY (OCC)
<p>Lazaro Barreiro is the Director for Governance and Operational Risk Policy within the Operational Risk Policy Division at the Office of the Comptroller of the Currency (OCC).<br />In this role, Mr. Barreiro manages a team responsible for establishing governance and operational risk policy and guidance for the agency. He assumed these duties in 2016.<br />Prior to his current role, Mr. Barreiro served as an Assistant Deputy Comptroller for the OCC's Pittsburgh Field Office. He has more than 31 years of financial services examination experience with the OCC, the former Office of Thrift Supervision, and the U.S. Securities and Exchange Commission.<br />Mr. Barreiro holds a bachelor's degree in finance from Florida State University and a master's in business administration in information technology from Barry University.</p>
Chief Third Party Management Officer
<p>Yakut Akman brings 35 years of diverse banking experience to her role of Chief Third Party Management Officer. She has responsibility, authority and accountability for the end-to-end Third Party Management Program, and leads global efforts to strengthen Citi's organizational framework, as well as processes and tools to manage third party risk.</p>
<p>Yakut's Citi career started in Istanbul, Turkey, as a Management Trainee. She then managed several trading support groups in New York ranging from Capital Markets and Fixed Income to Foreign Exchange, and was instrumental in establishing Citi's Interest Rate Derivatives Operations in the early 1990s. In 1996 she transferred to London as Director of Trade Services in Europe, managing Citibank's main service delivery hub in London supporting Europe.</p>
<p>Yakut is known for her abilities to connect operational details to the strategic business vision and drive meaningful change - an approach sharpened by many years in Operation & Technology and her role as Program Director in in Citi's Internal Audit, overseeing critical Investment and Consumer banking businesses, and also serving as Deputy Chief Auditor of Citi's Student Loan Corporation.</p>
<p>Prior to her current role, Yakut served as Global Head of Risk Management for Citi's Enterprise Infrastructure. Her responsibilities covered all operational risk disciplines including Information Security, Continuity of Business, and Third Party Management.</p>
<p>Yakut is a member of the Information Systems Audit and Control Association (ISACA) and is certified in CISA (Certified Information Systems Auditor). She is a Magna Cum Laude graduate of Mount Holyoke College with a degree in Economics.</p>
Vice president, vendor management
Nordea Bank, New York Branch
11:40 - 12:10
Director, head of electronic trading operational risk management
Clinical professor of finance, co-director, the Volatility and Risk Institute
NYU Stern School of Business
Professor Berner served as the first director of the Office of Financial Research (OFR) from 2013 until 2017. The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 established the OFR to support the Financial Stability Oversight Council, the Council’s member organizations and the public. The OFR’s mission is to promote financial stability by delivering high-quality financial data, standards and analysis.
He was counselor to the Secretary of the Treasury from April 2011 to 2013. His principal responsibilities included advising the Secretary on financial and regulatory issues and starting up the Office of Financial Research.
Professor Berner was a managing director, chief US economist at Morgan Stanley from 1999 to 2011 and co-head of Global Economics from 2008 to 2011.
He was executive vice president and chief economist at Mellon Bank, and a member of Mellon's Senior Management Committee (1992-99). Previously, he served as a principal and senior economist for Morgan Stanley, as a director and senior economist for Salomon Brothers (1985-91), as economist for Morgan Guaranty Trust Company (1982-85) and as director of the Washington, DC, office of Wharton Econometrics (1980-82).
Professor Berner served on the research staff of the Federal Reserve in Washington, where he co-directed the Fed’s model-based forecast and was a member of the team that developed the Fed’s first multi-country model used for international policy analysis (1972-80). He has been an adjunct professor of economics at Carnegie-Mellon University and at George Washington University.
He is an advisor to FinRegLab, an innovation center that tests new technologies and data to inform public policy and promote a responsible and inclusive financial marketplace. He is a member of the Milken Fintech initiative, led by former OCC head Tom Curry and former Treasury official Melissa Koide. He is a senior advisor to MacroPolicy Perspectives, an economic consulting firm. He is a member of the Board of Advisors of HData, which helps data companies involved in RegTech and Legal Tech solutions. He is a member of the IMF panel of experts for financial stability.
Professor Berner has been a member of the Economic Advisory Panel of the Federal Reserve Bank of New York, a member of the Panel of Economic Advisers of the Congressional Budget Office, a member of the Executive Committee of the Board of Directors of the National Bureau of Economic Research, a member of the Advisory Committee of the Bureau of Economic Analysis, Department of Commerce, a member of the Board of Directors of the Penn Institute for Economic Research and a member of the Board of Advisors of Macroeconomic Advisers, LLC. He served as an associate for the Counterparty Risk Management Policy Group II. He is a Past President and Fellow of the National Association for Business Economics and is the past chair of the Economic Advisory Panel of the Bond Market Association. He is the winner of forecasting awards from Market News and the National Association for Business Economics, the 2007 recipient of the William Butler Award for Excellence in Business Economics and has been a member of Time’s Board of Economists.
He received his bachelor’s degree magna cum laude in Economics from Harvard College in 1968, and his PhD in Economics from the University of Pennsylvania in 1976. He researched his dissertation under the supervision of Professor Lawrence Klein, and was funded by SSRC-Ford Foundation grants at both the University of Louvain, Belgium, and at the University of Bologna, Italy, from 1971-72.
Financial Economist, Supervision, Regulation and Credit
THE FEDERAL RESERVE BANK OF RICHMOND
<p>Filippo is a financial economist in the Quantitative Supervision and Research (QSR) unit of the Federal Reserve Bank of Richmond. Filippo joined the Richmond Fed in 2014 after earning his doctorate in Finance at the University of Arizona. Prior to moving to the US, Filippo worked one year for Toro Assicurazioni S.p.a. (now Assicurazioni Generali S.p.a.) and obtained his master degree in Actuarial and Statistical Science from the University of Turin. Since he started working for the Richmond Fed he has been heavily involved in Operational Risk as both modeler and examiner.</p>
• Getting RCSAs right panel
• How organisations derive value from operational risk data
• How data collection can help RCSAs
• Challenging the tone from the top
Senior research manager
13:30 - 14:20
Benchmarking group 1:
Making sense of your data and the move towards a data-driven risk department
In a post AMA world, how do you scale to attract wider business support?
Benchmarking group 2:
How is your firm transitioning from libor?
What are the operational challenges making this one of the biggest challenges in finance history?
What is the framework that has been put in place to successfully manage the changes within the products and how they flow downstream in the settlement layer?
What was the process in which model validation occurred across the firm’s infrastructure?
How are firms ensuring that they will not experience operational risk in the event fallbacks are triggered?
Head of group treasury
Senior Executive practiced in leveraging internal Assets & Liabilities structure/management and product skills to drive productivity and revenue across diverse platforms. Optimize internal assets and liabilities to deliver maximum client return/value.
14:20 - 14:50
What makes a stress testing programme particularly successful?
Data aggregation, analytics and stress testing
Aggregating exposures quickly and effectively
Scenario planning and stress testing as a priority for regulators
The regulatory drive to place new requirements for firms to provide assurance regarding their ability to absorb additional losses under adverse circumstances while retaining sufficient liquidity
14:50 - 15:30
How to identify who’s putting a firm at risk by detecting known forms of market abuse, identifying suspicious communications and minimising false positives
Innovating surveillance with artificial intelligence, behavioural profiling, machine learning and natural language processing
Mapping the changing face of compliance and surveillance using structured and unstructured data
Financial crime, AML transaction monitoring , global IB lead (MBA, CAMS)
Director operational risk control
Bank of America Merrill Lynch
• How can FIs and buyside accelerate the approval process to better align with pace of change, innovation and new fintechs?
• Proof of concept as a stepping stone to accelerated third party approval
How third party data is shifting the entire financial industry
Mitigating risk associated with third-party data
Third party risk expert
An accomplished third-party risk management professional with hands-on experience in vendor risk management frameworks. Karine graduated from law school and supported several compliance and third-party management functions in financial institutions and independently. Karine is fascinated by continued growth of third-party relationships and complexity of risks that come with it. In her free time, Karine loves spending time with her family and friends, painting and volunteering.
Third party risk management, operational risk management, contract management
Bank of China
The short and long term impacts on the industry’s operational and non-financial risk profile
A vision for operational and non-financial risk management in digital finance
How do we get there and what aren’t we talking about?
How to manage operational risk in a time when many banks are cutting costs
15:30 - 16:00
16:45 - 17:15
Former EVP and head of the markets group
Simon M. Potter was an executive vice president of the Federal Reserve Bank of New York, head of the Markets Group and manager of the System Open Market Account for the Federal Open Market Committee (FOMC). Mr. Potter oversees the implementation of domestic open market and foreign exchange trading operations consistent with FOMC directives, the execution of fiscal agent support for the U.S. Treasury, and the provision of account services to Foreign and International Monetary Authorities.
Prior to leading the Markets Group, Mr. Potter served as director of economic research and co-head of the Research and Statistics Group at the New York Fed. In this role Mr. Potter was responsible for constructing analytical tools for economic forecasting and monetary policy analysis, and leading FOMC briefings and preparation for the Bank president. Mr. Potter has played a prominent role in the New York Fed's financial stability efforts, including contributing to the design of the Supervisory Capital Assessment Program and as a member of the Bank for International Settlements Macroeconomic Assessment Group that supported the Basel Committee's work to strengthen bank capital standards. Mr. Potter also managed the team producing the first Financial Stability Oversight Council Annual Report on Financial Stability and served as an associate economist for the FOMC.
Before being named executive vice president in January 2010, Mr. Potter served as a senior vice president in the domestic research function. He joined the Bank in June 1998 as an economist and was named an officer of the New York Fed in January 2004. From April 2011 through July 2011, Mr. Potter worked at the Financial Stability Oversight Council.
Prior to joining the Bank, Mr. Potter was an assistant professor of economics at UCLA. He has also taught at Johns Hopkins University, New York University and Princeton University. His main research area is applied time series analysis using Bayesian methods. He has written extensively on nonlinear dynamics over the business cycles. Recent topics have included forecasting the probability of recession, large panel forecasting models, modeling structural change and inflation expectations.
Mr. Potter holds a bachelor's degree and a master's degree from Oxford University, United Kingdom and a doctorate from the University of Wisconsin.
Managing director corporate and investment bank strategy
J.P. Morgan Chase
Alice has been with the Firm for 34 years, working across trading and sales businesses within the CIB, focusing on risk, operations, technology, business development, business strategy, sales, and structuring.
She is currently in the CIB Strategy Group, working on crypto and blockchain initiatives, digital initiatives, and benchmark reform. Alice is a member of the Alternative Reference Rate Committee and sits on the Firm’s internal steering committee overseeing Libor transition. Until recently, she was also the Chair of the North American Reputation Risk Committee in the CIB, a role she held for over a decade.
Prior to her strategy role, Alice originated and ran the Operational Risk Management function for the global CIB for 4 years. Before that she was a senior sales manager in Global Fixed Income, where she specialized in strategic and special situations across sales, trading, and coverage banking. Alice also globally managed structural risks associated with many of the Firm’s flow derivatives clients and activities.
She is on the executive committee of the CIB women’s diversity network, and is the senior sponsor for several junior women initiatives. She was the head of Diversity and Inclusion for CIB Risk, and was the Culture and Conduct Head for Firm Wide Risk. She is also part of the Asian Executive Forum.
Alice has won numerous awards, and has been profiled in publications ranging from Top Women in Retail and Finance to The New York Times to Elle Magazine. She has also been active in the industry, having served on a number private and public sector working committees and task forces, focused on structural changes to capital markets. She has also spoken on numerous industry panels.
Head of firmwide Libor transition efforts
Jason is responsible for the firm's London Inter-bank Offered Rate (LIBOR) transition efforts. Previously, he was deputy head of Liquidity Solutions for Goldman Sachs Asset Management (GSAM). From 2010 to 2017, Jason was the head of International Liquidity Portfolio Management for GSAM, responsible for the management of international liquidity portfolios. From 2007 to 2010, he was co-head of the Secured Funding team on the Central Funding desk, where he and his team were responsible for all financing transactions and financing counterparty relationships across the Investment Management Division. Prior to that, Jason worked in the portfolio and risk strategy group of GSAM’s Fixed Income team from 2004 to 2007. Before joining GSAM, he was an analyst in Fixed Income Operations. Jason joined Goldman Sachs in 2000 and was named managing director in 2012. Jason was recognized by Financial News as one of the “FN 40 Under 40 Rising Stars of Asset Management” in 2013 and 2014. Jason serves on the Board of Trustees of Fairy Bricks. Jason earned a BA in Economics from the University of Michigan in 2000.
17:55 - 18:15
Deputy planetary protection officer
Dr Elaine Seasly is the Deputy Planetary Protection Officer for NASA, which is to say she is a real-life Guardian of the Galaxy. Her focus is to ensure spacecraft is clean enough to visit other worlds when searching for life or signs of past life, and any material samples brought back from visits to other worlds do not pose a risk to life on Earth.
She began her career in contamination control at Raytheon Missile Systems and later transitioned to NASA to lead the Contamination Control and Planetary Protection efforts at NASA Langley Research Center.
Currently, at NASA Headquarters, she brings the systems engineering perspective to the Office of Planetary Protection. She is a proud engineering nerd, with a Bachelor’s in Chemical Engineering, a Master’s in Patent Law, and a Doctor of Engineering degree.
Divisional Content Editor
Alexander Campbell is the divisional content editor for Risk.net. He was formerly the editor of Operational Risk & Regulation and news editor of Risk magazine. He is based in London.
Deputy director for policy
Federal Reserve Board's Division of Supervision and Regulation
Arthur Lindo (Art) is the Deputy Director for Policy in the Federal Reserve Board's Division of Supervision and Regulation. His principal responsibilities include overseeing the development and assessment of the effectiveness of Board regulations and policies affecting the financial services sector and coordinating the Board’s domestic and international regulatory programs. He also advises the Board on emerging policy matters that have implications for the supervision and regulation of the financial services sector. He is an active participant in various committees in the Federal Reserve System and is the Chairman of the Appraisal Subcommittee of the Federal Financial Institutions Examination Council (FFIEC) and the Chairman of the Basel Committee’s Operational Resiliency Working Group.
Art has a BA in Accounting from the Catholic University of America and a MBA in Finance from the George Washington University.
09:30 - 10:10
• Moving beyond the hype: practical applications in risk and non-financial risk
• How the latest innovations in these technologies are helping firms streamline their processes and identify risks
• An exploration of the potential challenges associated with investing in these technologies
Head of wholesale and markets risk analytics
Director, emerging technology risk
CRO, data technology and enterprise initiatives
Bank of America
Flora Sah is the Chief Risk Officer for Global Risk Management at Bank of America. She is the lead risk partner and central delivery conduit, responsible for driving ownership, execution, and oversight between the technology teams and the horizontal risk functions to provide a holistic view of all risks and create robust future state strategy and implementation roadmap.
Before joining Bank of America, Flora was the executive advisory council at Gerson Lehrman Group, responsible for business advisory and technology consulting. Prior to that, Flora held multiple leadership roles at State Street Corporation, including COO of Enterprise Risk Management, Head of Risk & Regulatory Technology, and CTO & Head of Vendor Risk Management. Before joining State Street Corporation, Flora spent several years at Cambridge Technology Partners where she led consulting practices in financial services, retail, and healthcare industry.
Flora holds a M.S. in Engineering Management from Northeastern University and a B.S. in Industrial Engineering and Information Systems from the University of Massachusetts at Amherst.
Americas head of surveillance
Rajeev Davé is the Americas Head of Surveillance at Barclays based in New York City. His work is focused on managing functions and compliance risks across E-Communication, Trade and Control Room activities supporting Barclays businesses across the Americas region.
Rajeev (Raj) Davé has over 20 years of Compliance, Information Security, Operational Risk and Financial/IT Audit experience. Prior to Barclays, Davé spent almost 9 years as a VP working in Compliance and Internal Audit with Goldman Sachs in the Chicago, Salt Lake City, New York and Bangalore, India offices. He also spent almost 5 years at the Bank of Montreal Group of Companies in Operational Risk and IT Audit and almost 2 years with KPMG in their Information Risk Management practice. He also practised risk management at an internet startup venture early in his career and is very interested in researching and deploying enterprise risk techniques to disruptive and emerging technology-centric organizations.
Over the course of his career, Davé has developed and delivered live risk management training to over 10,000 individuals on 5 continents. He thoroughly enjoys classroom engagement with students and is an avid believer in bringing, where applicable, real-life examples into the classroom to enhance group discussions and learning.
Davé has a B.S. in Accountancy from the University of Illinois Urbana-Champaign, an M.S. in Information Systems Management from Loyola University in Chicago, an M.B.A. from the University Of Chicago Booth School Of Business and is a registered Certified Public Accountant in the state of Illinois (Inactive) status.
• How is the regulatory environment perceiving climate risk?
• Addressing climate risk within your operational risk framework: how are leading firms rewriting their approach
• Monitoring climate risks as part of financial-stability assessments and improving data collection and corporate disclosures: what new requirements can be anticipated?
• How can you stress test for climate risk?
• Transition risk, assets and investments: linking the operational framework
11:20 - 11:50
11:50 - 12:30
12:30 - 13:10
PART I: SCENARIO DISSECTION AND STRATEGIZING
In each disaster and recovery scenario, participants are introduced to an operational risk scenario which is still unfolding and asked to consider the immediate steps they would advise their firm to take based on the information available at each stage
PART II: HARVEST SESSION
Each Leader will summarise their POA of the discussion and present it back to the table participants with comments
• Bias algorithms
• Surveillance: false positives
• Black-Box Effect
Head of Americas supervision
Stan is the Head of Americas Supervision at Citadel Securities where he covers the Equities, Futures, ETFs, and systematic trading businesses. Stan is also an Adjunct Professor at Fordham University School of Law teaching Quant Trading & US Market Structure Regulation as well as a FinTech Advisory Board Member with the University of South Florida’s College of Business. Stan previously was a Compliance Officer at Marshall Wace North America L.P. where he specialized in Quantitative Compliance and helped build the core US compliance program. Prior to that he worked at Knight Capital Group focusing on algorithmic trading, market structure, and surveillance. He holds a J.D. in Law from Fordham University School of Law where he was an Associate Editor on the Journal of Corporate & Financial Law, and additionally holds an M.Eng. in Engineering Management, M.S. in Pharmaceutical Manufacturing Engineering, and M.A. in Technology, Policy & Ethics from Stevens Institute of Technology. Stan is Certified in Risk and Information Systems Control (“CRISC”) and is also a Certified Fraud Examiner (“CFE”). Stan is a Global Panelist on the MIT Technology Review and lectures and publishes on industry topics including FinTech, RegTech, market structure, alternative data, artificial intelligence, regulatory and enforcement matters, surveillance, cybersecurity, data privacy, and risk management.
14:00 - 14:30
Head of operational risk
The industry is actively developing taxonomies that go beyond Basel event types
Contemporary concerns are elevated and explicit
An industry reference will ensure undue divergence
Head of analytics and research
Luke is Head of Analytics and Research at ORX where he leads many industry initiatives spanning Operational risk modelling and management. He is also responsible for delivery of a wide range of ORX information and benchmarking including Loss Data, ORX News and the Scenarios Program. Prior to Joining ORX Luke held a variety of positions in Banking, Technology and Academia. Dr Carrivick holds an MBA, PhD and M.A in Mathematics from Cambridge University.
• Understanding the business needs and requirements: where are the gaps?
• Implementing a sturdy D&I programme
• Effectively monitoring and measuring the success of your approach
• Using pre-existing policies within your organisation and translating them into a reality
• Recalibrating and redesigning workloads while maintaining efficiencies
GE Capital Latin America | Director at IFC’s StrategicPartner’s Board in Colombia (Covinoc, S.A.) | Founder Women Dignity Alliance
Margarita is a senior executive with experience in global corporate financial services and private company board environments. Her deep knowledge of strategy, finance, enterprise risk management, mergers, acquisitions, divestitures, global commercial lending practices and transaction structuring, allows her to add value across industries. She is a Senior Advisor and Consultant in Business Transformation, Strategy, Reorganization and Restructurings.
Former Chief Risk Officer of GE Capital Latin America, currently serves as Director at the IFC’s (a World Bank Group Co.) strategic partner’s Board in Colombia (Covinoc, S.A.) and at Fairfield University’s Dolan School of Business’s Advisory Council.
Active in the mission of advancing and respecting Women in the workplace, she founded Women Dignity Alliance, a platform with international reach helping women grow in their corporate and entrepreneurial careers.
Education: Yale School of Management Women on Boards Program | MBA ITAM-Mexico | Industrial Engineer ITESM-Mexico.
12:30 - 13:00
14:30 - 15:10
• How is the regulatory environment perceiving climate risk?
• Addressing climate risk within your operational risk framework: how are leading firms rewriting their approach
• Monitoring climate risks as part of financial-stability assessments and improving data collection and corporate disclosures: what new requirements can be anticipated?
15:00 - 15:45
• The impact of a paucity of elections in key emerging and frontier markets
• What affect has Brexit had?
• Key considerations for the US elections
Executive vice president, head of US model risk management
Manan N. Rawal, EVP and Head of Model Risk Management of HNAH since September 2017. He joined HSBC in 2008 and has held positions in client risk management, market risk, and stress testing. Prior to joining HSBC in 2008, Mr. Rawal has held trading and asset management roles at DKR Capital, Advent Capital, Swiss Re and Deutsche Bank spanning a period from 1994 – 2007.
He has an international executive MBA (Trium – HEC Paris, NYU, and the London School of Economics), M.Sc. in Economics (London School of Economics) and a B.S. in Finance from the Wharton School (University of Pennsylvania). He is also an adjunct faculty member of the New York Institute of Finance (https://www.nyif.com/).
His interests include thinking about the impact of technology / data / analytics on society, wine, traveling, and focusing on the positive.
16:30 - 17:10
Deputy global head of conduct risk management
MD, financial risk management, CRO, futures and forex
Joe Iraci is a Managing Director at TD Ameritrade where he heads the Financial Risk Management team. Prior to this position he headed the Financial Markets Services Group, and the Corporate Risk team. Prior to joining TD Ameritrade Joe held several senior risk management positions within Fidelity Investments at both Fidelity Employer Services Corporation and Fidelity Brokerage Company. Joe previously had been the Head, New Business Operations, UBS AG, and the Regional Head Americas / Deputy Global Head of Operational Risk at Deutsche bank AG, a position he assumed from heading the Business Risk Management for Deutsche Bank's Corporate Trust and Agency Services business. Prior to joining Deutsche Bank, Joe had been a Bank Examiner with the FDIC and served in the United States Marine Corps. Joe completed his undergraduate studies at St. John's University and received his MBA from New York University.
Penny is a Managing Director and Head of Operational Risk Governance for the Americas with MUFG Union Bank, where she currently manages the Operational Risk framework, practices, regulatory responses and core programs.
Operational Risk & Regulation magazine awarded Penny three awards for her contribution to the field of operational risk, including a special industry award in 2011. Penny has published widely, including authoring the chapter on Risk and Control Self Assessments for the PRMIA Operational Risk Manager Handbook.
17:50 - 18:20
09:30 - 10:00
Senior director, operational risk methodologies
Royal Bank of Canada
Ken has over 20 years of experience in the financial services industry in the areas of Operational Risk, Audit and Technology. In his current role at RBC as Head of Operational Risk Methodologies, he leads the efforts to optimize and monitor the effectiveness of the Bank’s core Operational Risk methodologies in line with the changing business operating environment and regulatory landscape.
Head of Enterprise Risk
12:15 - 13:00
• Audience survey: how would you rate your KRIs?
• Developing robust key risk indictors that enable preventative measures: why this is possible and how to go about this
• Understanding your risk drivers: what key areas your organisation needs to be focusing on
• Examples of best practices in establishing KRIs
Head of Technology, Innovation and Operations Risk
Gus Ortega is an accomplished risk management executive with over 20 years of work experience for multi-national global financial institutions. He is currently the Vice President, Head of Technology, Innovation and Operations risk management at Voya Financial. Prior to joining Voya Financial, Gus was the Head of Operational Risk Management at AIG directly responsible for the global Operational Risk program including Business Continuity and Third-Party Risk Governance and Oversight.
Gus also held various senior risk positions at UBS Investment Bank, Dresdner Bank and Morgan Stanley throughout his 20 years of work experience in the industry. He is an active advocate for Operational Risk Management and most recently was the keynote speaker at the World Bank Operational Risk Workshop in Washington D.C., Gus is also the co-author of The Fundamentals of Operational Risk for Insurers, a Risk.net book published in 2017.
Head of operational risk - Americas group risk
Senior vice president, technology risk and control officer
11:15 - 11:45
Join a topic table of your choice to discuss KRIs, RCSAs and right sizing your framework
14:00 - 14:20
ORX’s recent study of 75 global institutions identified the needs for RCSAs to be more dynamic, support more effectively the control environment and move from being perceived as a tick box exercise to something that provides value enabling effective risk management.
This presentation will provide an overview as to the current state of play of the industry with regards to RCSA, its challenges and where there are opportunities for enhancement.
14:30 - 15:00