RiskMinds Digital Week 2020

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Contents & introduction

Introduction

Here at RiskMinds, we strongly believe that now more than ever, the risk community needs to stay connected and get together - virtually - from wherever we are in the world as we adjust to a new way of working over the coming months.

We are proud to launch RiskMinds Digital Week to keep the risk management community as connected as possible during these challenging times. The digital event will offer access to expert perspectives, stimulating discussions, and a platform to share thoughts on the current landscape with peers.

Our expert speakers tackle covid-19 and its impact on

ESG under Solvency II
CROs' day-to-day
Non-financial risk
And digital transformation

Covid-19: How CROs are currently navigating through this difficult time?

Jeremy Arnold, Chief Risk Officer, NatWest Markets
Malcolm Griggs, Chief Risk Officer, Citizens Financial Group
Stephanie Bontemps, Executive Vice President, Chief Risk Officer, First Republic Bank
Ebbe Negenman, Chief Risk Officer, Aegon Bank

Managing non-financial risk during a crisis: applying lessons learned from covid-19

Andrea Pozzi, Head of Non-Financial Risk Management, Santander

Balancing the digital promise with risk

Brad Carr, Managing Director of Digital Finance, Institute of International Finance
Jaco Grobler, Chief Risk Officer, FirstRand

Covid-19: How are CROs currently navigating through this difficult time?

Featuring CROs from NatWest Markets, Citizens Financial Group, First Republic Bank, Aegon Bank

How ready can risk management be for black swan events such as pandemics? This CRO panel discussion will address covid-19's impact on the supply chain, credit, operational risk, project/people management, customer expectations, contingency planning, stress-testing and more.

The CROs will also try to find answers to the following issues:

How can we move forward whilst mitigating potential risk factors and ultimately returning to profitability?
How can we conduct business as usual and what is the new normal?
How do we meet customers’ expectations in this current situation?
What is the impact on global growth and supply chains?

Note: due to a system failure we lost 2-3 minutes of the opening of the webinar. We're still working on retrieving the lost footage, so for now, please excuse the abrupt beginning of the webinar.

About the speakers:

Jeremy Arnold, Chief Risk Officer, NatWest Markets

Having joined NatWest Markets as Chief Risk Officer in September 2018, Jeremy is responsible for leading the Risk function for NWM by defining and delivering risk, conduct, compliance and financial crime strategies to support the NWM ambition, strategy and risk appetite.

Jeremy has an extensive experience, spanning a number of roles in trading and risk management. Having started his career at BZW (now Barclays Investment Bank) as an equity derivative trader, he moved into market risk management, before returning to a trading role in the late 90’s.

He then moved to Commerzbank in 1998 back into a market risk role, progressing to the Global Head of Market Risk in 2001.

After having held a variety of market risk roles in both UBS and Investec, he joined Nomura as EMEA Head of Market Risk in 2011, progressing to becoming Nomura’s Chief Risk Officer, EMEA in July 2015.

Jeremy holds a Masters in Economics from Cambridge University.

Malcolm Griggs, Chief Risk Officer, Citizens Financial Group

Malcolm Griggs is the Chief Risk Officer of Citizens Financial Group, Inc. He joined Citizens in December 2014 as Executive Vice President and Chief Credit Officer.

Griggs serves on the Executive Committee and as CRO is responsible for defining and overseeing how we manage enterprise-wide risk at Citizens and for leading the bank’s Corporate Risk Management organization, including the development and execution of its strategy and its day-to-day operations.

Griggs has nearly 30 years of risk and business line experience. He joined Citizens from Citigroup where he was head of business risk and controls for the U.S. commercial and consumer banking businesses. Prior to this, he held senior risk management and business line roles at Morgan Stanley, Bank of America, Wachovia and Fifth Third Bancorp, where he served as CRO.

Griggs is active in industry organizations and is a past chairman of the board of the Risk Management Association (RMA) and is currently on the board of the RMA Foundation. He currently serves on the board of the Rhode Island Philharmonic Orchestra and Music School. He earned both his undergraduate and J.D. degrees from the University of North Carolina at Chapel Hill.

Stephanie Bontemps, Executive Vice President, Chief Risk Officer, First Republic Bank

Ms. Bontemps joined First Republic in 2008 and was appointed Chief Risk Officer in 2015 after previously serving as an Executive Loan Committee Member and Director of Credit Administration. As Chief Risk Officer, she is responsible for building and maintaining a robust enterprise risk management framework that supports the strategic goals of the Bank and builds upon its longstanding conservative risk culture. Prior to joining First Republic, Ms. Bontemps worked for Citibank in corporate and investment banking leadership positions in both relationship management and credit risk management in New York and San Francisco. Ms. Bontemps graduated from the Anderson School at UCLA (MBA) and UCLA (BA, Economics).

Ebbe Negenman, Chief Risk Officer, Aegon Bank

Dr. Ebbe Negenmann, Chief Risk Officer at Aegon Bank. Ebbe has over 15 years’ experience in leading departments in the financial sector. Currently Ebbe is employed as the Chief Risk Officer of Aegon Bank (including Knab). Before he worked as Head of Regulatory Risk at ABN AMRO and was involved in several innovation projects for Risk Management at ABN AMRO bank. Previously he worked as a Managing Director Risk Management at ING Bank in Amsterdam and Hong Kong. Ebbe has extensive risk management knowledge, including strong expertise in Accounting and Regulations. He is well experienced in the 2nd line oversight of all risk categories: Credit Risk, Market Risk (responsible for Asset and Liability Management at ING Bank), Non financial Risk, Real Estate risk, (worked for 4 years as a senior Managing Director at one of the largest real estate companies in the world), Investment Risk (responsible for the risk management of all ING Life investments in the Asia Pacific region), Regulatory Risk (at ABN AMRO), and Model Risk (one of the contributors of this topic at ABN AMRO).

Managing non-financial risk during a crisis: applying lessons learned from covid-19

A webinar presented by Andrea Pozzi, Head of Non-Financial Risk Management, Santander

How have non-financial risks evolved as a result of the pandemic?

In many cases risk exposure increased almost overnight as the implementation of digital technologies had to be accelerated.

Are the traditional tools and frameworks that are used to manage those risks fit for purpose in a rapidly changing environment?

Andrea Pozzi, Head of Non-Financial Risk Management, Santander

Andrea Pozzi joined Grupo Santander as the Global Head of Non-Financial Risk in June of 2018 and is based in Madrid, Spain. Prior to joining Santander she was principal of Percival Advisory LLC, a risk management consulting and advisory practice that she founded in 2017.

Andrea has over twenty years of Risk Management experience. Prior to forming her advisory practice, Andrea was the Head of Operational Risk Management at Citadel LLC. Before joining Citadel she was a Managing Director and the Global Head of Operational Risk Management for Citigroup. Andrea had been with Citi for more than eleven years. As the Global Head of Op Risk Management she: managed a global team of op risk professionals covering 102 countries; determined and drove the strategic direction of Operational Risk Management; created lasting solutions for minimizing operational risk losses; challenged the business on both historical and proposed practices; and worked as an independent partner to drive solutions to mitigate risk. In addition, she put in place robust and consistent global standards, framework and structure for Operational Risk Management; developed and created innovative techniques for assessing and quantifying Operational Risk; and led two global, cross-functional (with Finance, O&T, and the business) programs to predict and detect internal fraud.

During her time at Citi she spent five years in Mexico City as the Mexico and Latin American Head of Operational Risk Management. In that role she established the Op Risk function for the Latin America (“LatAm”) and Mexico region and managed a regional team of risk professionals covering 24 countries, including Mexico (Banamex)

Prior to Citi, Andrea worked in several Market Risk and Credit Risk Management roles at Munich Re Capital Management, Merrill Lynch and PricewaterhouseCoopers, where she was a consultant in the Financial Risk Management practice and a significant contributor to Operational Risk the Next Frontier; Benchmarking - A Tool for Continuous Improvement. Andrea began her career as an analyst in the Financial Research department of the Chicago Mercantile Exchange where she helped to develop and launch new derivatives (futures and options).

Andrea is fluent in Spanish and Italian. She holds a B.A. from McGill University and an M.B.A. from the University of Chicago.

Balancing the digital promise with risk

A webinar presented by Brad Carr, Managing Director of Digital Finance, Institute of International Finance and Jaco Grobler, Chief Risk Officer, First Rand Bank

For financial institutions, digital transformation is essential to future-proofing the business and improving customer experience, employee capabilities, operational efficiency, and business economics. This has become even more relevant in light of the covid-19 crisis and the ability of FIs to respond.

To understand the challenges and key enablers for digital transformation, the new IIF-Deloitte series Realizing the Digital Promise draws from interviews with 80+ executives and leaders from across banks, insurers, regulators and governments around the world, exploring how financial institutions are embracing digital innovation to tackle shifting market dynamics, disruptive forces, and changing customer expectations. The era of transformation also poses new questions for risk managers, including in how to balance or reconcile the innovation imperative with risk appetite, and the emergence of new risks, such as with the protections and ethical use of customer data.

This session will combine the highlights from the IIF-Deloitte study with a first-hand CRO perspective, as well as discuss the emerging paradigm shift in financial services.

Additional resources:

Realising the digital promise pt 1

Realising the digital promise pt 2

Digital transformation and COVID adaptation

Here comes a big paradigm shift

Brad Carr, Managing Director of Digital Finance, Institute of International Finance

Brad Carr is the Managing Director of Digital Finance at the Institute of International Finance (IIF). He leads the IIF’s program on data policy, machine learning, digital identity, transformation, RegTech, cloud and digital currencies. He had led the IIF’s comprehensive industry research on the adoption of machine learning in credit risk and anti-money laundering, and industry positions papers on explainability, bias, ethical use and supervisory oversight.

Brad previously led the IIF’s advocacy on the finalization of Basel III, as well as the IIF-ISDA Cumulative Capital Impact study and the IIF RWA Task Force review of banks’ credit risk modelling practices.

Prior to his 6 years with the IIF, Brad worked at National Australia Bank for 15 years in credit, portfolio management and as a relationship manager for financial institutions clients.

His qualifications include a Bachelor of Economics from the University of Western Australia and a Masters in Science & Technology Commercialization from the University of Adelaide.

Jaco Grobler, Chief Risk Officer, First Rand Bank

Jaco has worked extensively in the field of risk management during the past 25 years and gained extensive experience in financial services enterprise risks management. He joined the FirstRand Banking Group in 2006 to head up the Basel II operational risk AMA implementation across the FirstRand Banking Group where after he was appointed as Head of Financial Risk focusing on a range of portfolio risk activities across the group. He was appointed the FirstRand Bank Chief Risk Officer in 2010, where he is currently serving. During the past 5 years, Jaco has also dedicated a significant amount of his time and resources to emerging digital risks, in particular focusing on cyber security and data related strategies.

Jaco qualified as a Chartered Accountant in 1996.