Global operational risk agenda
Key insights on the pressing topics keeping you awake at night.
ALL TIMES IN ET
Learn how to strengthen your resilience and gain practical takeaways from the leading international financial firms and
09:00 – 09:35
Resilience and Risk Considerations in the wake of recent global events
EY will discuss some of the important lessons learned given recent global events (e.g. pandemic, cyber, geopolitical) and how they influence our thinking about resilience. These challenges have required organizations to rethink the impacts on their people, technology, third parties, and infrastructure on a global basis.
Ernst & Young
Marc Saidenberg is a Principal in EY’s Financial Services Consulting practice and is the Americas lead of EY’s Global Regulatory Network. He focuses on risk- and regulatory-driven transformational change facing global financial institutions. He has worked with clients globally to enhance capital management and stress testing, liquidity risk management, risk governance, model risk management and recovery and resolution planning capabilities. Marc is currently working with clients on initiatives to address emerging challenges related to digital business and risk transformation, financial inclusion, climate risk and operational resilience.
Marc has over 20 years of banking experience and extensive cross-jurisdictional regulatory and supervisory experience, including more than 15 years with the Federal Reserve Bank of New York where he was a senior vice president and director of supervisory policy. While at the Fed, Marc was a member of the committee that developed the supervisory strategies and standards and oversaw the assessments of the US GSIBs. He was also a member of the Fed’s Comprehensive Capital Analysis and Review (CCAR) and Comprehensive Liquidity Analysis and Review (CLAR) executive committees. In addition to his senior leadership roles in Supervision, Marc also represented the New York Fed on the Basel Committee on Banking Supervision and served as co-chair of the Committee’s Working Group on Liquidity during the development of the Basel III capital and liquidity standards.
Marc was also a Managing Director at Merrill Lynch, working in its Finance and Treasury functions. He received a Ph.D. in Economics from the University of California at Berkeley and a BA in Economics from Vassar College.
Ernst & Young
Lisa is a Principal in the Financial Services where she specializes in working with business leaders and Boards on issues related to operational resilience, risk management and corporate governance. Lisa leads our Enterprise Resilience offering and also leads our Structural Reform group which includes Recovery and Resolution Planning. Lisa is the Global Markets partner for three US GSIB clients and Diversity and Inclusion leader for the banking and securities sector. Lisa has held various management positions in financial services for over 25 years.
Prior to joining Ernst & Young, Lisa was the Chief Operating Officer (COO) in the Americas for the Financial Institutions Group (FIG) and Global Healthcare in the Corporate Investment Banking division of Deutsche Bank Securities. Lisa was a Principal at another Big Four consulting firm in their Capital Markets Risk Advisory Group, leading the group’s advisory services in risk infrastructure and technology and served as Banking and Securities industry leader. Lisa began her career in financial services as a bank examiner with the Federal Reserve Bank of New York where she led the capital markets examinations of large domestic and international banking organizations operating in the Second Federal Reserve District. Lisa received her BA from Smith College and an MBA from Columbia University.
09:45 – 10:30
Panel: From surviving to thriving: organizational resilience and why bouncing back is not enough
Like most people, operational risk managers will be glad to see the back of Covid-19. Unlike most, their concerns show few signs of easing. The pandemic has paved the way for several new sources of operational risks – opportunistic cyberattacks, creative money laundering and increased possibilities for internal fraud – and they’re not going away, even when the world slowly goes back to normal. How has the pandemic changed the future of operational risk? How will it change the distribution of risk going forward and how can we prepare for what lies ahead?
Global head of financial service go-to-market
Fusion Risk Management
With many years of experience deploying business continuity and risk management platforms globally, Rich Cooper oversees customer success and business development for large, global accounts.
Rich has more than 20 years of experience in the business continuity and risk management marketplace, running programs and implementing software in both Europe and North America for some of the world’s largest organizations. He has an MBCI certification from the Business Continuity Institute.
UK Head of RISQ/OPE
Stuart Young works in Societe Generale’s Risk function as UK Head of Operational Risk. The function oversees from a 2nd line of defence perspective the risks for the bank’s markets, financing and payment services activities.
Stuart joined SG in 2007, in the Sourcing function, before becoming Chief of Staff to the UK Chief Country Officer in 2012. His role as Chief of Staff gave him an insight into the many challenges facing the banking industry during a period of significant change, including from a risk management perspective, and in 2018 he joined the bank’s Risk function.
Before moving to SG, Stuart spent a number of years working in Sourcing in Santander and Rhone Poulenc.
Editor, risk benchmarking
Tom Osborn is the desk editor of Risk.net's risk management coverage. Prior to joining Risk, he reported on the futures and foreign exchange industries for Dow Jones' Financial News and the Euromoney group of publications. Osborn holds a bachelor's degree in English literature from the University of Warwick.
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.
10:45 – 11:45
Panel: Conduct, Controls, Culture and the future of Non-Financial Risk Management
In the brand-new Risk Books title Non-Financial Risk Management: Emerging stronger after COVID-19, 40+ authors demonstrate how successful Non-Financial Risk Management looks like and what the tools of the trade have learned and are still learning from COVID-19. The editor will discuss with four authors which implications COVID-19 has on a bank with a focus on behavioral elements and what the future might look like - from effective controls and fighting conduct risk over active risk management to a crystal ball view on NFR management in 2030.
Prof. Dr. Thomas Kaiser
House of Finance
Kaiser Risk Management Consulting & Goethe University
Thomas Kaiser has been working on risk management for more than 25 years. He is the founder of Professor Kaiser Risk Management Consulting and teaches Risk Management as an honorary professor at Goethe University as well as at other institutions. He is also active in executive education at Goethe Business School in Frankfurt and elsewhere and is organizing and leading conferences and seminars as well as speaking at conferences nationally and internationally.
In his long-time affiliation with KPMG, he was responsible for advising leading banks and insurance companies globally on Non-Financial Risk Management. Thomas has also worked for Deutsche Bank, Commerzbank and HypoVereinsbank on Operational Risk and with WestLB on market risk topics.
Thomas is the editor of the latest RiskBooks title „Non-Financial Risk Management: Emerging stronger after COVID-19“ and is co-author/editor of the RiskBooks titles “An Introduction to Operational Risk” and “Reputational Risk Management in Financial Institutions” and has written numerous articles and several further books.
He is a member of the advisory board of FIRM (Frankfurt Institute of Risk Management and Regulation) and various other industry associations. Thomas holds a master’s degree in business administration from Saarbrücken University and a PhD in financial econometrics from Tübingen University.
Business & private banking divisional controls officer
National Australia Bank
Matthew Saines is a business and private banking executive, and divisional controls officer at National Australia Bank, where he is responsible for creating streamlined risk and control environments that consider end-to-end processes and the impact that increasing regulation, demands on customer experience, changing governance standards, greater use of technology and automation has on organisational processes and controls. He was previously a senior partner within the risk advisory division of Deloitte, serving organisations across financial services, public sector and mining. Through these experiences Matthew has become a global leader in redefining intelligent control design in a way that enables improved business performance instead of just managing risk and compliance.
He is also the joint author of “Get Out of Your Own Way: Unleashing Productivity” for Deloitte Australia.
Andrew Sheen is best know for the 8 years he spent at the UK regulator, firstly in the FSA and subsequently at the PRA.
In his time with these authorities Andrew was manager of the Operational Risk Policy Team before moving to head the team responsible for assessing Operational Risk frameworks in a wide variety of financial institutions. Andrew also represented the UK on the Basel Committee for Banking Supervisors Operational Risk Working Group and the European Banking Authority’s Operational Risk Working Group. After leaving the PRA Andrew became Head of Operational Risk Use and Embedding at HSBC and subsequently joined Credit Suisse as the Head of their Operational Risk Regulatory Risk Management capability.
In 2019 Andrew retired and set 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. He produced papers on Operational Risk with colleagues at the PRA and is a regular speaker and panelist at Operational Risk Conferences globally.
Dr. Hagen Rafeld
Executive Director, Head of Operational Risk
Dr. Hagen Rafeld is Head of Operational Risk and Executive Director at Goldman Sachs Bank Europe SE, reporting into the Executive Board’s Chief Risk Officer.
He has more than eighteen years of risk and project management experience with specialization in Operational/Non-Financial Risk including Fraud Risk Management in multinational corporations, advising Senior Management up to Supervisory Board level.
He is a frequent lecturer, with consecutive teaching assignments on Corporate Governance, Risk, and Compliance topics at for example Frankfurt School of Finance & Management and most recently at WHU Otto Beisheim School of Management in Vallendar, conference speaker (House of Finance/Goethe University Frankfurt, Frankfurt Institute of Risk Management and Regulation, Bundesbank), and author.
Hagen holds a Master’s Degree of Business and Engineering from Steinbeis University Berlin and a Bachelor of Arts in Banking and Finance. In March 2019, he finalized his PhD in Finance at TU Dortmund University focussing on Collusive Rogue Trading and Organizational Misbehaviour.
Keep up to date cyber and third-party risk, and learn how to become technology resilient
09:00 – 09:40
Panel: AML – moving into the future of compliance
Although regulatory authorities are working towards a same goal, compliance requirements and processes often vary in different jurisdictions. Failure to meet AML regulations comes with a steep price, as regulators increasingly hand out fines for those who do not comply. Join us in this session as we address AML compliance and crucially, how can you prepare for future changes?
SVP, financial crime - Compliance
Head, fraud risk – Internal fraud prevention
Standard Chartered Bank
Senior Compliance Counsel
09:45 – 10:30
Panel: Fraud prevention and Machine Learning in action
In this panel we will discuss some of the hurdles financial institutions are faced with when implementing machine learning and AI into their fraud fighting processes as well as many of the benefits it brings.
Head of Financial Crime Operations Strategy
Lead Artificial Intelligence
Senior vice president head of operational risk and ERM
Ann has over 20 years of experience in financial services in various roles within accounting and risk management. Ann is currently the Head of Operational Risk and ERM at Investors Bank. She is responsible the Enterprise and Operational risk framework for the bank. Additionally, Ann oversees, Third Party risk management, Model Risk and BCP for the bank. Prior to joining Investors Bank, Ann spent 19 years at Nomura Holding Americas in various risk management roles. Ann has Bachelors of Science in Accountancy from Villanova University.
Luke Clancy. Luke Clancy is the London-based editor-at-large for Risk.net.
10:45 – 11:30
Panel: What’s next in TPRM?
In today’s complex and volatile global markets, third-party relationships can be a source of competitiveness and growth. However, the interconnectedness of today’s environment also creates a new level of vulnerabilities as even just a single third-party event can cause significant damage. In this session, we will discuss how to maintain oversight and controls of third parties in a complex and changing landscape, and crucially, what’s next in TPRM?
Jeannie M Pumphrey
Director head of third-party risk management operational risk management
Global Head of FSI Risk & Compliance Financial Services Industry
Michael Murphy joined ServiceNow in June 2020 to lead the global risk and compliance business in the financial services industry. In this role, he collaborates with customers, partners and product teams to design industry solutions, drives alignment with the ServiceNow partner ecosystem, and brings solutions to market.
Prior to joining ServiceNow, Michael was the head of international risk governance strategy and transformation at Wells Fargo. In this role, he was responsible for leading high priority initiatives to assess, design, and implement second line of defense risk and compliance governance structures outside the United States.
Prior to Wells Fargo, Michael was a management consultant at PricewaterhouseCoopers where he helped financial services clients identify, assess, prioritize, and manage risks throughout their organizations and across the third parties supporting them.
Michael served as a non-commissioned officer in the United States Marine Corps and earned a Bachelor of Science degree in Business Administration from the Haas School of Business at the University of California, Berkeley.
Operational risk and asset management
Independent operational risk consultant
What are the emerging risks that should be on your radar? We will discuss the threats from the known unknowns, and the rapidly evolving risks you cannot ignore
10:45 – 11:30
Panel: Gear up your conduct risk framework!
The stakes have never been higher when it comes to conduct risk. Regulators now look to hold senior managers personally liable for the misconduct of their employees, and with teams more globally dispersed, managing conduct and culture is more challenging than ever before. In this session, we will look at how we can develop frameworks, processes and controls to address conduct risk within remote and hybrid working environments.
Global head of 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.
Christian is the founder of Human Risk, a Behavioural Science led Consulting and Training Firm, specialising in the fields of Ethics & Compliance. He was formerly MD at UBS where he was Head of Behavioural Science - a role created specifically for him, following his pioneering deployment of it within Compliance.
Christian joined the Firm in Compliance & Operational Risk Control, leading the function globally for UBS Asset Management and regionally for UBS Europe, Middle East & Africa (ex Switzerland). Prior to joining UBS, he was Chief Operating Officer of the UK Prudential Regulation Authority (PRA), a subsidiary of the Bank of England responsible for regulating financial services. Christian was Head of Department, International Banking Supervision at the PRA and its predecessor the Financial Services Authority.
He has also been a Principal in a Family Office and worked for Deutsche Bank, London in Investment Banking. While at Deutsche, he spent two years on secondment at the Panel on Takeovers & Mergers, the UK Takeover Regulator. Christian began his career at Arthur Andersen working in regulatory and financial consulting.
He is a Fellow of the Institute of Chartered Accountants of England & Wales, a Fellow of the Royal Society of Arts and holds an Masters from the University of Oxford. He is a Member of the Global Association of Applied Behavioural Scientists. Christian speaks and writes regularly about Behavioural Science and human risk. He also hosts and produces the Human Risk podcast.
Vice president operational risk asset management and operations multi-family
As Vice President of Operational Risk, Michael leads the first line of defense risk management for financial crimes, privacy and information security, business resiliency, vendor management and compliance with regulatory requirements. Mike and his team establishes the risk direction by aligning the Multifamily Governance Framework with the business operating model. He continually improves governance by understanding the multifaceted drivers that effect risk environment.
11:45 – 12:30
Panel: Rapidly evolving risks – from known unknowns to black swan events
In this session, we will seek to understand how climate risk, new technology, natural disasters and geopolitical are keeping risk managers on their toes and set out a framework for how we can better anticipate and manage the known knowns, the known unknowns and even the unknown unknowns.
Senior director of product marketing
Fusion Risk Management
Head of enterprise risk
The Clearing House
Rajat Baijal is the Managing Director – Global Head of Enterprise Risk at Cantor Fitzgerald. In this role, he is responsible for designing and embedding a robust Risk Framework across the firm. This includes articulating and implementing a robust Risk & Control Self-Assessment (RCSA), Risk Event Management, Key Risk Indicators etc. and ensuring that the Board is suitably informed about all material issues.
Rajat has an MBA in Finance and has previously worked for Kensington Mortgages, Lloyds Banking Group and Aviva specialising in global implementation of their Risk Framework. Rajat is a regular speaker at risk conferences across London and New York and has authored a number of articles for risk journals/textbooks.
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.
Managing director, head of risk supervision
SG Corporate and Investment Banking
Michele's career at Société Générale began in 1993 and has held positions in Internal Audit, Investment Banking Division, managed multiple teams within the Operations Division, Head of Operational Risk and currently is Head of Risk Supervision for the Americas.
Michele was appointed as Head of Risk Supervision in July 2016 reporting to the Chief Risk Officer. She is responsible for defining the strategic goals, missions, day-to-day management of Operational Risk Management, Data and Technology Risk, Third Party Risk Management, Cyber Security Risk Management and Global Risk Monitoring teams in order to promote a secure, profitable and sustainable platform.
Michele received a Masters in Finance from the St. Joseph's University, Philadelphia, PA and a B.S. in Accounting from St. Joseph's University. Michele has successfully obtained series 99 regulatory license.