Risk Spring 2023 Agenda

Risk 2023 Agenda

Risk Live North America Spring - 2023 Agenda


Registration opens

08:00 - 09:00


Opening Remarks

09:00 - 09:05


Liquidity disruptions in capital markets

09:05 - 12:35


Opening Keynote: 2023 Markets – liquidity preparedness in the face of a recession

09:05 - 09:30


Keynote: Margin reform - rethinking margin modeling due to regulatory forces and its impact on market liquidity

09:30 - 09:50


Market liquidity – contributors to declines in asset availability

09:50 - 10:35

  • Regime change and structural shifts – analyzing the role of macroeconomics on liquidity outcomes
  • Market interconnectivity – understanding the domino effects of market challenges from one asset class to the next
  • Regulatory influence – capital requirement impacts on fund availability and the intended/unintended responses from market makers
  • Trading practices – is there a need to change the way in which trading firms mitigate risk?
Chris Callies

Interim CIO/CRO

Global Financial Firms

Chris Callies has partnered with senior officers of major financial institutions to address growing complexity in the nature of financial risk and its propagation across geographic, asset class, market structure, and operational boundaries. After initially working with institutional asset managers, commercial and investment banks, and multi-family offices through the financial crisis that began in 2007–08, her professional domain later expanded to alternatives managers, insurance firms, non-bank lenders and regulators. Callies has advanced through a series of senior roles at Credit Suisse, Merrill Lynch and Bessemer Trust, including chief investment strategist, chief strategist, head of market risk strategy, and acting chief investment officer, with oversight of more than $40 billion in traditional and alternative assets. She is a dedicated advocate for fully integrated, flexible, proactive risk analytics as a vital tool for effective capital planning, product development and sustainable returns. Callies holds a bachelors degree from Northwestern University in Evanston, Illinois, with a sub-specialty in advanced applied mathematics.


Morning Networking Break

10:35 - 11:05


Asset correlations – what risks are associated with asset classes becoming more in line with each other?

11:05 - 11:50

  • Allocation – how can you hedge across asset classes?
  • Liquidity – how do you avoid a dried up market?
  • Clearing and settlement
Ronald Ratcliffe

Managing director, applied portfolio analysis


Ronald Ratcliffe, PhD, is a Managing Director in BlackRock’s Applied Portfolio Analysis practice area within the Analytics & Quantitative Solutions (AQS) group. He focuses on multi-asset portfolio risk, scenario analysis, and portfolio construction.

Dr. Ratcliffe's service with BlackRock dates back to 2004, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. Prior to joining AQS, he led the Market-Driven Scenarios (MDS) initiative as Head of Cross-Platform Scenario Analysis in the Risk & Quantitative Analysis (RQA) group. Previously in RQA, he was Head of Multi-Asset Investment Risk for the Americas West region. In the Portfolio Management Group (PMG), he was a portfolio manager and developed systematic macro trading strategies. Prior to joining BGI, Dr. Ratcliffe was a senior manager at KPMG in corporate valuation and international transfer pricing. Previously, he was the chief economist for Latin America at SG Cowen Securities, a subsidiary of Societe Generale. Before that he was with Bankers Trust Company (now part of Deutsche Bank) where he carried out country risk analysis.

Dr. Ratcliffe earned BA degrees in economics and in political science, with distinction and with departmental honors in economics, from Stanford University. He received a PhD in economics from the University of Pennsylvania.

Max Yu

Vice President of Group and Multi-Asset Solutions Strategist

T. Rowe Price

Max Yu is a Vice President of Group and Multi-Asset Solutions Strategist at T. Rowe Price. He works with global clients on strategic asset allocation design, custom strategy development and multi-asset portfolio management. In addition, he also serves as in-house investment risk specialist overseeing multi-asset risk and analytics projects, including stress testing and scenarios analysis modeling, ESG integration into portfolio construction, and quantitative data strategy development.


ESG, Greenwashing, and the greater understanding – who’s calling the shots?

11:50 - 12:35

  • Challenges in data – how reliable is data and ESG scoring when all calculations are derived differently?
  • Regulation – is there ample data to keep up with government and internal policies?
  • Impacting change – how can data show investment stewardship on dirtier equities?
  • Outperformance – how have ESG strategies been reshaped after a liquidity drain in 2022?
Rob Allard

Chief investment officer

Rothesay Asset Management

Gavin Smith

Head of equity and sustainability research


Gavin Smith, PhD, is a Managing Director, Head of Equity Research and Sustainable Investing for PGIM Quantitative Solutions. He is responsible for the research, oversight and incorporation of ESG in our investment platform.  In addition, he oversees research and analysis for Quantitative Equity portfolios. Prior to his current role, Gavin was most recently a portfolio manager and before that was a key member of PGIM Quantitative Solutions’ Research team where he focused on alpha and implementation research that could be applied across markets and strategies. Prior to joining PGIM Quantitative Solutions, Gavin led the North American Quantitative Research team at Macquarie Capital. Previously, Gavin served in quantitative research positions at Barclays Capital and Plato Investment Management in Sydney, Australia. He earned a BComm (Honors) in finance from the University of Wollongong and a PhD in finance from the University of New South Wales in Australia.


Networking Lunch

12:35 - 13:35


Technology disruptions in capital markets

13:45 - 17:45


Transforming post trade – can automation simplify a complicated system?

13:45 - 14:30

  • Efficiency – reducing costs from multiple fees and staffing needs
  • FinTech – the emergence of DLT and its impact on counterparty and credit risk
  • Speed of trade – are we ready for/do we want T + 0?
  • Impact on collateral management – does a reduction in settlement time cause a rift in liquidity?


Redesigning markets – what will it take to have securities and other traditional asset classes traded on blockchain?

14:30 - 15:15

  • Tokenization – what assets are on the verge of being tokenized or fractionalized?
  • Creating the liquidity – how do you get over the first hurdle of getting actual money on chain?
  • Regulation – impact of Basel committee tax proposal on tokenized traditional assets
  • Intermediaries – how does their role change under a new DLT market structure?


Afternoon Networking Break

15:15 - 15:45


AI and Machine Learning – best use cases for asset managers

15:45 - 16:30

  • Portfolio construction
  • Portfolio management
  • Risk analytics
  • Predictive capabilities
Joseph Simonian, Ph.D.

Senior investment strategist

Scientific Beta

Joseph Simonian is Senior Investment Strategist at Scientific Beta. Over the last 17 years Joseph has held senior portfolio management and research positions in several asset management firms, including PIMCO, Fidelity, Natixis Investment Managers, and JP Morgan Asset Management. He is also the founder and CIO of Autonomous Investment Technologies LLC.

Joseph is a noted contributor to leading finance journals and is also a prominent speaker at investment events worldwide. He is currently the co-editor of the Journal of Financial Data Science, on the editorial board for The Journal of Portfolio Management, and advisory board member for the Financial Data Professional Institute. Joseph is the author of over 40 academic publications. 

Joseph also has vast experience in teaching both in academia and industry. 

He holds a Ph.D. from the University of California, Santa Barbara; an M.A. from Columbia University; as well as a B.A. from the University of California, Los Angeles.


Evolution of the risk function – taking digitization to the next level

16:30 - 17:15

  • Stress testing – how many scenarios to run and how long does it take?
  • Regulatory compliance – use of software for automated policy set-up
  • Investment risk – enhancing ways to analyze investment strategies
Steve Boras

Executive Vice President

Citizens Bank

Steve Boras is the Head of Model Risk Management & Validation at Citizens Bank in Boston, focused on managing the model risk of the bank via validation of models, performance management and monitoring of outcomes, and serving as a sounding board for new and emerging modeling techniques and their respective appropriateness. Since joining Citizens in 2015, Steve has led several risk analytics functions, most recently heading the Risk Architecture Center of Excellence (covering loss forecasting model development for CCAR/DFAST and CECL, and PD, LGD, and EAD modeling for wholesale), as well as anti-money laundering modeling, macroeconomic scenario generation, and Data Science.  Steve also holds leadership roles in enterprise risk, ESG and Inflation/Stagflation scenario analysis, and artificial intelligence and machine learning governance.

Pietro Toscano

Senior risk officer


Rodney Hill

Chief risk officer


As Chief Risk Officer, Rodney leads the Risk Management, Compliance and Ethics, and Assurance and Advisory functions for OMERS. Under his leadership, these functions work closely with the businesses units across OMERS to fulfil their mandate, and to provide ongoing monitoring and reporting to senior management, the OMERS Board of Directors and its various committees.

Prior to joining OMERS in 2011, Rodney worked as a Partner at an international accounting firm, where he specialized in auditing complex public and private companies. During this time, he also held several leadership roles with the firm.

A graduate from the University of Kent at Canterbury, with an Honours Degree in Accounting with Computing (Honours), Rodney is an Associate of the Institute of Chartered Accountants in England and Wales (ACA-UK).

He is also a Chartered Professional Accountant (CA, CPA) in Canada. Originally from Ireland, Rodney is passionate about giving back through involvement with community. Rodney also serves on the Financial Committee for Crescent School. He lives in Toronto with his family.


Closing Wrap-up: Margin modeling – a systemic look at impact on multi-asset liquidity struggles

17:15 - 17:45


Registration opens

08:00 - 09:00


Opening Remarks

09:00 - 09:05


Macro events & strategies

09:05 - 15:15


Opening Keynote: Rates, central banks, and the dollar

09:05 - 09:30


Macro markets – current state look at FX markets

09:30 - 10:15

  • Dollar reaction function in a recessionary environment
  • How undervalued are Euro and Yen right now?
  • Impact of China reopening on asset classes and the broader dollar
Marc Chandler

Chief market strategist

Bannockburn Global Forex

One of the most widely respected and quoted currency experts, Marc Chandler has been covering the global capital markets for more than 30 years. As a keen observer of the interconnection of international politics and economics, Marc appears daily in the financial press - CNBC, CNBC Asia FOX Business, Bloomberg TV and Radio, Barron’s, The Financial Times, The Washington Post, and more – where he provides his colorful take on the day’s global financial and economic news.

Throughout his career on Wall Street, Chandler has advised private businesses, hedge funds and asset managers on navigating the foreign exchange market, and most recently joined Bannockburn Global Forex as Managing Director and Chief Market Strategist in their New York City office.

Keep up with Marc Chandler's ongoing analysis on his blog, www.marctomarket.com, or follow him on Twitter, @marcmakingsense.

John Velis

FX and Macro Strategist, Americas

BNY Mellon

John Velis is a member of BNY Mellon Markets' global strategy team and serves as FX and Macro Strategist for the Americas. He leads BNY Mellon's continued investment into North American commentary.

He joined BNY Mellon from State Street in Boston, where he was instrumental in running a Macro Research function that applied proprietary data on investor behaviour, market-risk modelling and real-time inflation analysis to the firm’s client base. Prior to his role as a senior multi-asset strategist at State Street Global Markets, John was based in London and worked at Vanguard Asset Management, Russell Investments and ABN Amro.

He holds a PhD in Applied Economics from Indiana University and a B.A. in Economics from the University of Pennsylvania. He was also a visiting scholar at the Federal Reserve Bank of Atlanta.


Morning Networking Break

10:15 - 10:45


Trade strategies – finding the best options for alpha and hedging opportunities

10:45 - 11:30

  • When diversifying outside of the US, what currencies do you look at?
  • Are quant and high frequency trading making a return to FX?
  • FX use in fixed income hedging


Liquidity constraints – dealing with the ebbs and flows of the FX market

11:30 - 12:15

  • Cost of trading – improving efficiencies in an increasingly fragmented market
  • UMR implications – how does regulation hinder liquidity and what can be done?
  • Market exits – how do you get out of restricted markets that have liquidity issues?


Inflation Debate: Good or bad?

12:15 - 12:45


Networking Lunch

12:45 - 13:45


FX Structure

13:45 - 17:45


FX back-office – enhancing efficiencies in FX trading while mitigating risk

13:45 - 14:30

  • Central clearing – reducing the complexity of bilateral connections through netting
  • UMR boost – examining the impact of phase six on clearing demand
  • Expanding PvP – how can we get coverage for EM pairs and slow the rise in settlement risk?
  • Platforms – best venues for clearing swaps, NDFs, options and more
Marisa Kurk

Global head of foreign exchange

Northern Trust Corporation


FX Execution – FinTech’s growing role in the trading process

14:30 - 15:15

  • Currency overlays – passive hedging to reduce currency risk
  • Principal vs agency execution
  • Reporting and analytics – accessing the best TCA data
  • Custody – how can we get greater transparency?


Afternoon Networking Break

15:15 - 15:45


FX workflows – utilizing cloud technology to make remote trading secure and efficient

15:45 - 16:30

  • Infrastructure – allowing workflows to span across a wide-ranging employee geo
  • Cost impact – SaaS inclusion to reduce cost of operations
  • Automation – increasing use of electronic trading


FX interfaces – what’s next for traders?

16:30 - 17:15

  • Algos – how can we improve quality and reduce manual order entry?
  • Risk management automation – improved systems for realized risks coming into your books
  • Less liquid pairs – how can you automate for currency pairs that suffer from liquidity issues?


Closing Keynote: Riding volatility – being prepared for major moves up to 4 standard deviations

17:15 - 17:45


Running scenarios for WWIII: where geopolitical meets cyber risk 

08:10 - 08:50

  • Why cyber needs to be part of the discussion 
  • Banks sharing intelligence  
  • Why debriefing across banks is so crucial  
Fred Harris

Head of cybersecurity, data and technology risk and compliance

Société Générale

Fred Harris is the Head of Cybersecurity Risk, Data Risk and IT Risk at Société Générale Americas. Fred is an accomplished Technology Executive with more than 30 years of technology and cybersecurity experience in the financial services industry. Before joining SG, Fred was in a similar role at Bank of America and before that he was with Deloitte for 16 years in a variety of role


Chair’s opening remarks: navigating risk in a hyper-connected world

09:00 - 09:10

Mark has over 30 years’ experience in global capital markets, consulting and associated technologies, focusing on risk management, front- and middle-office platforms and data management. Before Chartis he held executive positions in large global financial institutions, consultancies and FinTechs, in various roles including platform and software development, solution architecture, large-scale program management, vendor selection and implementation, and strategy development and execution.

With a background covering the front, middle and back office, Mark brings to Chartis a holistic view of business, technology and regulatory issues across the enterprise, and how these issues can be addressed by leveraging appropriate technology solutions. His primary focus has been risk technology, and his work in this area includes: leading the global teams for risk technology at RBS Capital Markets and AIG; working with middle- and front-office technology teams at Barclays Capital; extensive consulting experience with major consulting organizations including EY and Deloitte; and extensive vendor experience, including time at Algorithmics and Misys (now Finastra). Mark has an MA from Oxford University and is a Fellow of the Institute of Chartered Accountants in England and Wales.


Taking a unified approach: weighing in on cyber risk

09:30 - 10:00

We're living in a hyper-connected world. As financial services firms continue to tread the path of digital transformation, hear how CISOs and CROs are envisioning the future of cyber risk, security and the threat landscape.

Mandar Rege

Managing director, operational risk management, technology and cybersecurity


Mandar has over 20 years of engineering and risk management experience across Technology Operations, Governance and Audit, helping organizations meet business objectives through technology. Currently he is serving as a Managing Director at Citigroup in the Operational Risk group. Prior to Citi, Mandar was the Global CTRO at TD Bank Group, before which he served as the CTRO and CISO at the Bank of Montreal. In his prior career, Mandar has worked extensively with financial institutions globally through leadership roles at Cisco Systems, Inc., Accenture LLC, Alvarez & Marsal LLP,  KPMG LLP and Ernst & Young LLP.

Mandar is an active member of the professional community and has presented at industry forums like Risk.Net, RSA and IAPP Conferences. Additionally, he is active in various profesional organizations such as ISACA, IAPP and ISC2 and has served as the Chair of the Canadian Banking Association’s CIRT (CISO Forum). He holds the CISSP, CIPP, CISA, and PMP certifications.



Crawl. Walk. Run: cyber risk quantification steps for success 

10:00 - 10:30

  • Cases of success stories 
  • What are the first steps for success?  
  • Data collection and identification, outdated toolsets and mind-sets – moving beyond qualitative  
  • Being an agent for change: changing mind-sets and skillsets 
Filippo Curti

Financial economist, supervision, regulation and credit

The Federal Reserve Bank of Richmond

Filippo is a financial economist in the Quantitative Supervision and Research (QSR) unit of the Federal Reserve Bank of Richmond. Filippo joined the Richmond Fed in 2014 after earning his doctorate in Finance at the University of Arizona. Prior to moving to the US, Filippo worked one year for Toro Assicurazioni S.p.a. (now Assicurazioni Generali S.p.a.) and obtained his master degree in Actuarial and Statistical Science from the University of Turin. Since he started working for the Richmond Fed he has been heavily involved in Operational Risk as both modeler and examiner.

Evan Sekeris

Head of non-financial risk - Americas


Evan's background is in the measurement and quantification of credit risk and operational risk.  His primary focus is currently on supporting institutions in building operational risk modeling for stress testing, developing their risk identification process and developing their model risk management frameworks.
Some of his recent client engagements include:
For a foreign global bank, helped them develop a comprehensive operational risk framework for their US based IHC. Ensured both integration of the framework in their international framework as well as US regulatory compliance.
For a large internationally active US bank: supported major change of course in CCAR operational risk stress estimates a few months prior to submission in reaction to regulatory guidance.
For a large regional bank: built their CCAR loss projection model and wrote the documentation for the full CCAR operational risk submission.
For a global bank conducted a validation of their operational risk modeling framework for CCAR
  Prior to joining Oliver Wyman, Evan was the Head of Risk Consulting for Financial Institutions for Aon in Columbia, Maryland. He was in charge of building Aon's risk consulting practice for financial institutions and managed multiple teams based in North America and Europe to deliver services to clients worldwide. Previously, Evan was an Assistant Vice President of the Federal Reserve Bank of Richmond, where he created the center of excellence for operational risk which served the System needs for operational risk related matters. The team was in charge of the supervision of all AMA and CCAR banks in the US and developed the Fed's CCAR model for operational risk.
Evan earned a B.A. and M.A. in Economics from the Université Catholique de Louvain in Belgium. He received an additional M.A. as well as his Ph.D. in Economics from the University of California at Los Angeles.


Networking coffee break

10:30 - 11:00


Knowledge café networking sessions

Grab a coffee and join one of our informal networking table tops located in front of the coffee station. Each discussion is expert led and confidential.

  • Human capital management: staffing and resource problems attracting and retaining talent
  • Resolving identify theft off the dark web: how can firms tackle this issue?


Deciphering 21st century cybercrime: the terra nova of criminals, from fraud to theft panel

11:00 - 11:30

Deciphering 21st century cybercrime: the terra nova of criminals, from fraud to theft - simply a new method of committing age old crimes.

  • The impact of hyper connectivity
  • Keeping up with cyber crime innovation


Crafting the roadmap to cyber resilience panel

11:30 - 12:00

  • Why cyber Use cases and failures  
  • Building resilience across an organisation  
  • Defining principles 
  • Running scenarios and establishing what you would do in each leg of the service  
  • Why traditional concepts are failing  
  • Keeping the approach to resilience fresh 
  • Moving from maturity to risk-based analysis 
Bob Kolasky

Nonresident scholar, technology and international affairs program

Carnegie Endowment for International Peace


Rethinking cyber risk: taking a pragmatic approach to establish better practices panel

12:00 - 12:30

  • Clearly scoping what you’re measuring  
  • Scoping cyber risk measurement to ensure reliability  
  • Defining measurement scale 
Jack Jones


The FAIR Institute

Jack is one of the foremost authorities in the field of information risk management. As the Chairman of the FAIR Institute and co-founder and EVP R&D at RiskLens, he continues to lead the way in developing effective and pragmatic ways to manage and quantify information risk. As a three time Chief Information Security Officer (CISO) with forward-thinking financial institutions such as Nationwide Insurance, Huntington Bank and CBC Innovis, he received numerous recognitions for his work, including: the ISSA Excellence in the Field of Security Practices award in 2006; a finalist award for the Information Security Executive of the Year, Central US in 2007; and the CSO Compass Award in 2012, for advancing risk management within the profession. Prior to that, his career included assignments in the military, government intelligence, consulting, as well as the financial and insurance industries. Jack is the author of FAIR, the only international standard VaR model for cybersecurity and enterprise technology. A sought-after thought leader, he recently published 'Measuring and Managing Information Risk: A FAIR Approach', which was recently inducted into the Cyber Security Canon as a "must read" within the profession, and is a regular speaker at industry conferences.


Networking lunch

12:30 - 13:30

Scenario based sessions: In groups led by a practitioner, participants will explore how to respond and manage a severe cyber-attack and their ability to recover

  • Ransomware: paying ransom vs publishing data on the dark web
  • Widespread encryption scenario: how quickly can we recover?


The new era of transparency: operating in a world of increasingly stringent regulations
Regulation: operating in a world of increasingly stringent regulations

14:00 - 14:30

  • DFS 500 updates: proposed revision. How will the final revision impact the financial institutions?
  • OCC feedback in relation to cyber related risks


Third party risk management as a crucial part of cyber risk puzzle

14:30 - 15:00

As the industry relies more heavily on outsourcing and third parties, from customer services through to cloud and fintechs, hear how FIs are rethinking their approach to third party risk, touching on:

  • The impact of robust vendor risk management and examples of the implications of failures
  • Strategies for higher risk vendors
  • Metrics and external alerts
Isabel Rohrbeck

Director non financial risk management, head of NFRM infrastructure coverage

Deutsche Bank


Unpicking the cyber insurance landscape  

15:00 - 15:30

  • Cyber risk mitigation: driving organisations to adopt security controls 
  • Understanding policies 


Networking coffee break
Knowledge cafés

15:30 - 16:00

Knowledge cafés

Join one of our interactive, informal knowledge cafes. Situated in front of the coffee station, the table top discussions are completely confidential. 

  • The new realm of capturing e-comms: BYOD
  • Staying ahead of insider threats – policies, encryption and controls


Moving beyond WORM storage: moving to data retention in the cloud 

16:00 - 16:30

  • Capturing of communications – how can this be saved in a more cost friendly, eco-friendly way instead on an on-premises storage solution? 
  • Stale data: can you move to a disconnected solution that can be accessible when you need it? 
  • Managing risk in the cloud 
  • Air gapping solutions 


Data minimization/ data deletion: the new risk control

16:30 - 17:00

  • Deleting data as the new legal risk control 
  • Reducing attack surface by reducing data  
  • Application control and user managed data controls 
Fred Harris

Head of cybersecurity, data and technology risk and compliance

Société Générale

Fred Harris is the Head of Cybersecurity Risk, Data Risk and IT Risk at Société Générale Americas. Fred is an accomplished Technology Executive with more than 30 years of technology and cybersecurity experience in the financial services industry. Before joining SG, Fred was in a similar role at Bank of America and before that he was with Deloitte for 16 years in a variety of role

Jay Wood

Global Head of Digital Data Lifecycle Management - Enterprise Data Management

BNY Mellon


Closing keynote: The future of cyber risk 

17:00 - 17:30

With an already distributed and complex threat ecosystem, how are cyber risk leaders thinking ahead to anticipate the future of cyber risk? How are technologies keeping pace with cyber risk and what role will this play in the future?


Chair’s summary

17:20 - 17:30