Contents & introduction

Vincent Beard, Editor-in-Chief, RiskMinds International

The top 5 themes to look out for at this year’s RiskMinds International

Covid-19

The giant elephant in the room. I’m sure some of our attendees will be rolling their eyes just at the thought of seeing this topic but given the year it has been, it is unavoidable. More so than ever before, it’s important for us to understand the current landscape through the perspective of CROs and global heads of risk in order to build a brighter future as we come out on the other side of the tunnel.

Data, model risk, & regulation >>

Leadership >>

Keeping pace with transformation in the risk landscape

The emerging resilients: Achieving ‘escape velocity’

Hear from the experts

Nick Silitch, Senior Vice President and Chief Risk Officer, Prudential Financial

Bonnie Frank, Vice President, Enterprise Risk and Crisis Management, PSP Investments

Colin Church, Global Head of Climate Risk and Crisis Risk Management, Citigroup

Peter Deans, Former CRO and Director, The Regtech Association in Australia

Data

A common theme throughout the year has been a simple question that has no easy answers. How do you use historical data to plan for the future when the current pandemic blows all previous data out of the water? The causes of the global recession were not man-made like they were in 2008. Your company may have had a pandemic stress test in the last year, but did it model a global lockdown where business and supply chains were brought to a standstill? Probably not. So the question is, what have we learnt, and how can we protect ourselves from unimaginable events in the future?

Model risk

Modelling is a fundamental part of any risk manager’s role and this has never been more true than in the last 12 months. Now, more than ever, model risk professionals need to work alongside their colleagues in stress testing, credit risk, and many other fields to ensure models are fit for purpose and can withstand even the strongest of shocks.

Regulation

As we already discussed, no two crises are the same and this is certainly the case for Covid-19. Although the regulatory landscape began to wane over the past few years compared to first half of the 2010’s, we can certainly expect a revamp once we come through the other side. What new regulations are on the horizon and will they really prevent a financial crisis due to an emerging, or unprecedented risk? And how is Covid-19 going to affect the outstanding regulations such as the IBOR reform. We have seen that there is not going to be a delay but is this the right choice?

Derisking AI by design: How to build risk management into AI development

Capital stress testing scenarios and Swan Lake: Taking on the most fiendish of double roles

Basel IV: Your path to a more profitable business

FRTB: A critical challenge to legacy VaR systems

Hear from the experts:

Thomas Wallace, Partner, Risk Dynamics, a McKinsey company

Suman Datta, Head of portfolio, Quantitative research, Lloyds Bank

Leadership

It’s one thing managing a team from the office where you are all together and can see each other’s facial expressions, gestures, postures and read their body language. It’s quite a different thing doing it over Zoom for the best part of the year. Although not a unique challenge, it’s something risk managers have had to deal with. And with mental health understandably being brought to the forefront, it’s just as important for a manager to have the soft skillset as it is for their risk expertise.

The results from RiskMinds International are in!

Your thoughts on risk management and beyond

Hear from the experts:

Christian Bluhm, Group Chief Risk Officer and Member of the Group Executive Board, UBS

Trevor Adams, Group Chief Risk Officer, Nedbank Group

Alan Smith, Senior Advisor - Climate and ESG Risk, HSBC

Blair Sheppard, Global Leader, Strategy and Leadership, PwC