Liquidity & Funding Risk
Developed through extensive market research, Liquidity & Funding Risk will feature a cutting-edge agenda with industry speakers at the forefront of this field. Join us in London to make certain that you have a robust asset and liability management strategy in place to ensure that you keep up to date with the latest regulatory requirements.
This year's speakers include:
Head of Division Money Market and Liquidity
EUROPEAN CENTRAL BANK
Holger Neuhaus is Head of the European Central Bank's (ECB's) Money Market and Liquidity Division. His Division provides market analysis of euro area money markets, ensuring the execution of monetary policy through open market operations and liquidity management. It currently also works on developing new reference interest rates for the money market and supports the Working Group on Risk Free Rates.
He was recently seconded to the Federal Reserve Bank of New York as Senior Policy Advisor.
Before joining the ECB he worked for the Deutsche Bundesbank and a portfolio management company, inter alia in the field of foreign reserve management and financial market research. Holger Neuhaus studied economics at the Universities of Essen and Toronto.
EUROPEAN BANKING AUTHORITY
Adam Farkas is the first Executive Director of the European Banking Authority, a position he has held since 2011. Previously, he was the Chairman of the Hungarian Financial Supervisory Authority in 2009-2010. Prior to joining the regulatory and supervisory community, he held senior positions in the banking sector including three years as the Co-CEO of Intesa Group’s subsidiary in Budapest, and another three years at the helm of Allianz Bank, setting up a retail banking operation for the market leading insurance company in Hungary. Before that he spent four years as a central banker as a Managing Director and Member of the Board of the National Bank of Hungary with responsibility for reserve management and market operations.
He started his career as an assistant professor in Finance at Corvinus University, Budapest and was a visiting fellow at London Business School and also at Erasmus University. He holds a doctorate in Finance from Corvinus University, and an M.Sc. in Computer Based Simulation and Modelling from Sunderland University (UK).
Chief Risk Officer
EUROPEAN STABILITY MECHANISM
Cosimo Pacciani has been the Chief Risk Officer for the European Stability Mechanism since 2015. He has joined this key European institution as Senior Credit Officer and Deputy Head of Risk in 2014. Previously, he spent 20 working in the City of London. He has been for eleven years at Royal Bank of Scotland, where he has been Chief Operating Officer for the Group Credit Risk function and Head of Risk and Compliance for the Asset Protection Scheme, the mechanism established to rescue the British banking system. Previously, at RBS he was Head of Credit Risk for Corporate and Public Institutions in Europe. He has worked previously in portfolio management at Credit Suisse First Boston and for the London branch of Monte dei Paschi di Siena in London, dealing with derivative products and portfolio management. He holds a Ph.D. from the Faculty of Economic Sciences of the University of Siena and a Master Degree from the Faculty of Economics of the University of Florence.
External Member, Prudential Regulation Committee
BANK OF ENGLAND
Sandra (Sandy) Boss was a Senior Partner at McKinsey and Company, where she specialised in investment banking and risk. She joined in 1994 and held several senior management positions in both the US and the UK. At McKinsey, she was an adviser to global banks and financial institutions, as well as public sector and industry bodies, on a wide range of strategic, operational and policy issues.
Sandy is an Independent Member of the Bank of England's RTGS/CHAPS Board and Chair of its Risk Committee. She is a Non-Executive Director of Enstar Group Limited, where she is Chair of the Risk Committee and a member of the Compensation and Nominating Committees. She is also a Non-Executive Director of Elementis plc and a member of its Audit, Remuneration and Nomination Committees.
Sandy has held other non-executive and advisory appointments with the Institute of International Finance, the McKinsey Master Retirement Trust and the Edith Wharton Restoration.
Global Head of Liquidity Risk Management
Damian Harland is Global Head of Liquidity Risk Management at HSBC where he leads the team responsible for second-line oversight of liquidity risk management.
Prior to joining HSBC in July 2018, he worked at Barclays for 5 years performing a number of leadership roles in Group Treasury, including Investment Bank Treasurer and Head of Regulatory Strategy. He joined Barclays from the PRA where he was one of two Heads of Department in Banking Policy. At the UK regulator he also led the Liquidity Policy team, which was responsible for the design and implementation of the UK’s new liquidity policy and international negotiations in Europe and Basel.
He started his career working in front office roles at Abbey National, and Bank of Montreal in London and New York. He has a degree in chemistry from Oxford University.
Head of Unit
SINGLE RESOLUTION BOARD (SRB)
Gaëtan Viallard has worked several years for the French banking supervisor. He has a strong experience in on site and off site control and has been the head of legal units in ACPR. He has also worked at the French Treasury on banking regulation. Before joining the Single Resolution Board, he was Deputy Director of the Resolution Directorate in France. He is now one of the heads of unit working at the SRB.
Manging Director and Global Head of Liquidity Risk
Otto Huber is Manging Director and Global Head of Liquidity Risk within Credit Suisse’s Risk Division. In this role he has been responsible for the development of the bank’s new universal risk metric for liquidity risk and the corresponding liquidity risk control framework that has been cascaded across the firm. In his previous role at Credit Suisse’s Treasury, Otto has been in charge for the deposit modeling, the valuation and risk assessment of Treasury-issued debt and capital instruments, as well as for the Treasury funds transfer pricing methodology.
Otto holds a PhD in Finance from the University of St.Gallen in Switzerland and is a certified Financial Risk Manager.
Managing Director, Head of Bank Advisory
Adrian Docherty leads the Bank Advisory team, which provides key relationship bank clients with technical sector expertise and help on strategic financial issues relating to balance sheet management and efficiency.
In practice, this means advising on capital raising alternatives, risk management and transfer frameworks, regulatory developments (especially Basel III and IV), accounting changes (especially IFRS 9), funding/liquidity strategies, credit portfolio management, solvency creation/optimisation structures and innovative ways of financing growth. In recent years, the issue of “disruption and obsolescence” (ie. new banking business models) has increasingly featured; so now too do strategies around Brexit.
Adrian has 25 years’ experience in advising financial institutions, initially as a strategy consultant with Booz Allen Hamilton. After nine years at Booz Allen, Adrian was hired by one of his clients, Barclays, to help run the rapidly growing investment banking business line. Adrian spent three years as COO of Investment Banking, before moving to run the balance sheet advisory team in Barclays Capital’s Financial Institutions Group.
Adrian has a Master’s from Cambridge University. His book "Better Banking: Understanding and Addressing the Failures in Risk Management, Governance and Regulation" was published by Wiley in 2014
Vice President, Global Head of Liquidity Risk Management
STATE STREET GLOBAL ADVISORS
Seb is a Vice President and Global Head of State Street Global Advisors Liquidity Risk Management, and is responsible for ensuring a robust liquidity risk management framework and governance across the organisation. He also chairs the SSGA Liquidity Committee and is a member of the State Street Country Risk Committee.
Before that he was a Senior Investment Risk Manager responsible for risk oversight across Europe Middle East and Africa (EMEA) fixed income, liability driven investment (LDI) and multi-asset class portfolios.
Seb holds a post-experience Masters in Finance degree from London Business School and has earned the Chartered Financial Analyst (CFA) charter and Global Association of Risk Professionals (GARP) Financial Risk Manager (FRM) certificate.
Head of Investment Risk and SIRO
BNY MELLON INVESTMENT MANAGEMENT EMEA
Ashan Ramakrishnan, CFA is Head of Investment Risk and SIRO for BNY Mellon Investment Management EMEA Limited (IM EMEA). In his role, Mr Ramakrishnan is responsible for managing the investment risk reporting framework and for overseeing all information risk related matters (including cybersecurity) for IM EMEA.
Prior to joining BNY Mellon in 2012, Mr Ramakrishnan worked for Man Group between 2003 and 2012 in various roles, the last of which was in Product Risk. Mr Ramakrishnan holds a MA in Mathematics and Computer Science from Hertford College, University of Oxford and is a CFA Charterholder.
Funds Transfer Pricing and Profitability Practice Lead
Craig Woker manages QRM’s Funds Transfer Pricing & Profitability Practice. He assists all QRM clients with an FTP engagement to assess the profitability of products, divisions, and business units, as well as with forecasting net interest margin in planning and stress testing. Before heading the FTP practice, he managed QRM’s Americas Client Management Team, providing consulting and support in the areas of asset-liability management, FTP, credit, liquidity, and regulatory capital.
Prior to joining QRM, he helped start the Equities Research division at investment-research firm Morningstar, where he was the Director of the Financial Services practice. His team of researchers generated financial profitability forecasts and estimated values of banks, insurance firms, investment banks, and other publicly traded firms around the globe. He carries the Chartered Financial Analyst designation, and holds a Bachelor’s degree from Northwestern University, as well as a Master’s degree in Finance from DePaul University.
Chief Investment Officer
Erik Vynckier is board member of Foresters Friendly Society, general partner of InsurTech Venture Partners and Chief Investment Officer (Europe) of Eli Global LLC, following a career in investment banking, insurance, asset management and the petrochemical industry. He co-founded EU initiatives on high performance computing and big data in finance and co-authored “High-Performance Computing in Finance” and “Tercentenary Essays on the Philosophy and Science of Leibniz”. Erik graduated as MBA at London Business School and as chemical engineer at Universiteit Gent.
Risk Director, IRRBB
Roberto Virreira works as Risk Director for State Street in London. Previously he was in charge of redesigning the IRRBB framework of Standard Chartered Group, and was in charge of Group HSBC IRRBB reporting and IRRBB stress test methodologies. He was Head of ALM and BSM with Bank of America and worked in consulting projects for several other global and regional banking organisations.
He participated actively in the review, discussion and feedback of BCBS 368 with several banking associations including BBA, EBF and IIF. He has published articles on IRRBB on the Journal of Risk Management in Financial Institutions and Written a chapter in the second edition of The hand Book of ALM edited by Risk Books. He has chaired IRRBB conferences in New York, London and has been a speaker in seminars in Hong Kong and other European, American and Asian venues.
Roberto is an industrial engineer, holds a master degree in economics and an MBA from Warwick Business School.
Head of Risk and Quantitative Analysis for Index Strategies EMEA
Antonello Russo is a Director within BlackRock's Risk & Quantitative Analysis Group.Mr Russo is responsible for investment risk management of Index Strategies across the EMEA region, spanning segregated mandates, commingled funds, and the iShares ETF range.
Before joining BlackRock, Mr Russo was Head of Risk for the investment management arm of Beazley plc., a Lloyds of London insurer.Earlier on, he worked for Deutsche Bank, where he was a Director on the collateralized equity financing and prime brokerage sales desk, and previously a Risk Manager for the fixed income area.
Mr Russo holds an honour degree from Bocconi University in Milan, where he graduated in 1995 in Monetary and Financial Economics.
Group Commercial Treasurer
Mark qualified as a chartered accountant in 1996 with E&Y and joined Credit Agricole CIB London in 1997. In 1999 Mark moved internally to the front office Money Market Desk to manage the GBP book, progressing to the position of Head of Money Markets London in 2005. In 2008 Mark joined the Prudential Risk Division of the Financial Services Authority as a Liquidity & IRRBB risk specialist.
During his time at the FSA Mark progressed to the position of technical specialist and was a key contributor to the design of FSA's ILAS liquidity regime and SLRP process. Mark was a key supervisory partner to the prudential supervision teams and during 2008 and 2009 interacted directly with senior executives of the FSA, Bank of England, HM Treasury and the largest regulated firms.
In 2011 Mark joined HSBC Group initially as Group Head of ALM control quickly progressing to Group Head of Liquidity and Structural Interest Rate Risks. In January 2017 Mark was appointed Group Commercial Treasurer focussing on commercial optimisation and partnering with the Global Businesses and is a member of the Group Treasurer's management team and a member of the HSBC Group ALCO.
Mark is also a non-executive director of CAF Bank being a member of the Board and the Board Risk & Compliance Committee.
Head Treasury Advisor
Willem is currently responsible for Treasury Advisory at Rabobank. His team performs the second line role on ALM and maintains the external dialogue on ALM with the regulator and other commercial banks. Previously, Willem has had different senior roles within Rabobank. He has managed the interest rate risk positions for Rabobank, has set up the global FTP framework as well as the group funding and liquidity framework. Outside Rabobank he has worked as a policy advisor for the National Banking Association.
Head of Balance Sheet Risk, Treasury
NATIONWIDE BUILDING SOCIETY
I have 20 years of experience in UK financial services and banking, having held a variety of roles across treasury, risk and finance. I currently lead the Balance Sheet Risk team within the Treasury function at Nationwide Building Society where I have had the pleasure of working for the last two years. Before Nationwide, I most recently worked at RBS helping to set up the Treasury function for what was to be W&G, and prior to that have worked at Barclays Bank, Abbey National and KPMG. I am married with two children
Head of Audit Liquidity and Funding
Lena is Head of Audit Liquidity and Funding at Credit Suisse since June 2015. Prior to CS, she was Global Head of Liquidity Reporting and Analytics in Barclays Group Treasury, responsible for all liquidity regulatory reporting to the PRA and global MI reporting, and European Head of Treasury Capital Markets at Morgan Stanley. Lena holds a degree in Economics from Stockholm School of Economics, majoring in Financial Economics and Econometrics.
Head of ALM Risk
Head of ALM Risk Control Office in Bank Pekao. Responsible ia. for IRRBB and liquidity risk, including designing strategy and implementing regulatory requirements in the area. Graduated from Warsaw University, faculty of mathematics, and Warsaw School of Economics. His professional career began in the National Bank of Poland, where he dealt with monetary policy and the management of foreign exchange reserves. Since 2008 in Bank Pekao, where previously he was responsible for designing economic capital setup (Pillar 2) and development and integration of financial risk.
Head of Liquidity Risk Management
RAIFFEISEN BANK INTERNATIONAL (RBI)
Michael Stastny is the Head of Liquidity Risk Management at Raiffeisen Bank International (RBI) which regards Austria, where it is a leading corporate and investment bank, as well as Central and Eastern Europe (CEE) as its home market. 14 markets of the region are covered by subsidiary banks.
Before joining RBI 5 years ago as a Liquidity Risk Manager he was running the Basel III project for Bawag P.S.K., a large Austrian retail bank. Prior to that he was working for the Austrian supervisory authority (FMA) where he evaluated a wide range of financial products. On his first job he worked for Erste Group Alternative Investments as a Hedge Fund Analyst. He graduated in economics from the University of Vienna and Business Administration (WU Wien) in 2007 and completed the Certificate in Quantitative Finance (CQF) program in 2011.
Editor, Risk Management
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. Tom holds a bachelor’s degree in English literature from the University of Warwick, UK.
Philip Alexander is the regulation desk editor for Risk.net, overseeing a team of journalists in the UK, US and Asia. He was previously senior editor at The Banker magazine, covering financial regulation, capital markets, derivatives and central and eastern Europe. Prior to entering journalism, he edited sovereign credit research for rating agency Standard & Poor’s in London. He was awarded a PhD in modern history by the University of Cambridge for a thesis on Britain and European integration.
Managing Director, Global Head of Treasury Development and Oversight
- Managing Director
- Global Head of Development & Oversight within the Group Treasury department (which is part of the Finance division of the Société Générale Group). Transversal role to address new challenges for the Treasury function and ensure tight control of liquidity risks.
- Previously Global Chief Operation Office for Fixed Income and Currencies (Capital Markets)
- Graduated from Ecole Centrale de Paris (Master in Science and Economy) and Ecole de Sciences Politique de Paris (Master in Economy and Finance)
Mony started his career in the Prime Brokerage business of Goldman Sachs in New York where he helped build the liquidity stress testing framework as well as the client stress test margin methodology. He then moved to Global Liquidity Products managing the secured book in EMEA. He previously was running the Linear Rates Strategists team in EMEA. He now runs the Funding and Capital Optimisation team in Divisional Strategies. The team is tasked with optimising the liquidity and capital footprint of the Securities Division.
Mony holds a Masters degree from Ecole Polytechnique in Paris and a MSc in Mathematics in Finance from the Courant institute of Mathematical Sciences at New York University.
Managing Director, Head of Treasury,
RAIFFEISEN BANK RUSSIA
Marcel currently is Head of Treasury and Managing Director in Raiffeisenbank Russia. In this role he oversees management of liquidity and funding, interest rate risk in the banking book, capital and investor relations. Previously he held positions in Raiffeisenbank International as Head of Group Liquidity Risk Management and Senior Analyst in Balance Sheet Risk Management.
Marcel has a Master degree in international business administration from the University of Vienna and is a certified FRM.
Director, Head of Treasury Planning and Performance, Treasury
Sam is head of Treasury Planning and Performance at Deutsche Bank, looking at the bank’s strategic planning from a liquidity, funding and FTP perspective, and also analysis into Treasury's financial performance.
Prior to joining Deutsche Bank in 2014, Sam was at Barclays, and held various roles in FTP, Liquidity Management and Technology.
Sam holds an MA in Computer Science from the University of Cambridge, and a Graduate Diploma in Economics from Birkbeck College, University of London.
Head of Balance Sheet Framework and Policy
NATIONWIDE BUILDING SOCIETY
During my 10 years at Nationwide I have held roles responsible for coordinating the Society’s stress-testing programme and liquidity-risk management and reporting. During 2017 I was seconded to lead the business-readiness effort for a major IT implementation to replace Nationwide’s treasury management system (TMS). More recently I have taken responsibility for the Balance Sheet Framework and Policy team covering a broad range of financial risks. Prior to Nationwide I held a range of roles including Head of Collections and Head of Internal Audit. I am a member of the Association of Chartered Certified Accountants (FCCA) and have a business-studies degree.
Hassan is a quantitative analyst in the Portfolio Quantitative Analytics group at UBS, based in New York. In addition to his quant work at UBS, he was also part of FICC trading. Working in the funding trading desk, he was responsible for managing a portfolio of Medium Term Notes and Cross-Currency Swaps across major G10 currencies.
Prior to joining UBS, he worked at ING Retirement Services helping build their risk analytics platform for Annuity products. Hassan received an M.S. in Financial Engineering from Columbia University.
Head of Group Liquidity Management
Krishna is the Head of Group Liquidity Management at Barclays, covering Barclays Group wide funding and liquidity management initiatives, stress testing, ILAAP/Group Recovery plan along with related Group external disclosures.
Previously, he was responsible for the management of the group wide funds transfer pricing frameworks ranging from Retail to Corporate & Investment bank. Krishna’s specific focus in the recent past has been to look at opportunities taking into consideration the evolving Capital/Liquidity regulations (e.g. MREL/NSFR), and Brexit & UK ring fencing driven structural changes.
Krishna has spent 17 years in risk management roles covering liquidity, capital & credit risk management and wider banking audits in UK, Switzerland, Singapore and Malaysia. Krishna holds an MBA from University of Cambridge and is a qualified chartered certified accountant.
Head of Group ALM
LLOYDS BANKING GROUP
John has more than 20 years of experience in Asset & Liability Management and is currently Head of Group ALM within Lloyds Banking Group. His team are responsible for identifying and understanding market and liquidity risks inherent within the banking book and ensuring that these are managed, priced and reported correctly. The team perform a business partnering role to provide ALM expertise in respect of new product development and Funds Transfer Pricing (FTP).
John was the lead subject matter expert in the project to set up a harmonised FTP mechanism for Lloyds Banking Group following the acquisition of HBOS in 2009. The mechanism introduced a centralised approach to both Liquidity Transfer Pricing and Interest Rate Risk Transfer Pricing across the entire banking book.
Professionally qualified in banking and treasury, John enjoys creating opportunities for colleagues to develop. He recently played a lead role in establishing an internal treasury training programme within the bank.
Director, Bank Advisory/Financial Institutions Solutions
Nimesh Verma is a member of BNP Paribas’ Bank Advisory team, focusing on providing key relationship bank clients with technical sector expertise and help on strategic financial issues relating to balance sheet management. In practice, this means advising on regulatory developments (incl. Basel IV), capital raising alternatives, risk management and transfer frameworks, funding/liquidity strategies, solvency creation and optimisation structures, innovative ways of financing growth and credit ratings.
Nimesh has 21 years’ experience in advising financial institutions at a senior level. Nimesh joined BNP Paribas with ten years of experience in advising financial institutions at Mercer Oliver Wyman, a strategy consultancy dedicated to financial institutions. Nimesh holds Bachelor and Master of Engineering degrees from Cambridge University, where he specialized in manufacturing engineering.
Executive Director, Portfolio Quantitative Analytics
Gordon is an Executive Director within UBS Investment Bank, working in the Portfolio Quantitative Analytics team. He is an experienced XVA and Basel 3 Capital quantitative analyst, with extensive experience in designing and building large enterprise wide counterparty credit risk and valuation adjustment systems. He is the co-author of Modelling, Pricing and Hedging Counterparty Exposure, published by Springer in 2009. Gordon studied Mathematics in University of Cambridge.
Deputy Director, Head of Market and Liquidity Risk
Vice President - Liquidity Risk Management