On 6 July 2017, RMI hosted its Eleventh Annual Risk Management Conference at the Conrad Centennial Singapore. More than 160 participants were in attendance to hear discussions on topics including risk management analytic framework, changes in regulation, geopolitics, and technology, credit risks and balance sheet management, and escrowing trader’s bonuses among others.
RMI’s Director and Class of ’62 Professor of Mathematics, Prof. Steven Kou, opened the conference and welcomed all the speakers and guests. The one-day conference featured two plenary talks, a couple of policy forum panels, as well as scientific program presentations and their discussions. The day’s events were kick-started by a plenary talk by Dr. David Li, Investment Senior Vice President and Head of Enterprise Risk Methodology & Analytics, Prudential Financial Company. Dr. Li gave an in-depth talk about "Firm-Wide Risk Management Analytic Framework and Implementation."
His talk was followed by a panel, which discussed the “Changes in Regulation, Geopolitics, & Technology and Their Effects on Risk Management” from the industry’s perspective. Chaired by RMI’s Adjunct Professor, Lutfey Siddiqi, the panel encompassed a diverse pool of industry panelists including, Bunty Bohra, Chief Executive Officer at Goldman Sachs Services Pte Ltd, Chan Kok Seong, Chief Risk Officer at UOB, Shaji Chandrasenan, Principal Risk Manager at International Finance Corporation, Dr. Evgueni Ivantsov, Chairman of European Risk Management Council, and Sneha Sanghvi, Head of Financial Markets (Asia) at Westpac. Siddiqi seamlessly guided the discussion into topics such as the regulatory environment post Brexit, effects of geopolitical shifts and instability in governmental regimes on growth of global economy, role of a CRO in the changing regulatory environment, updates on Basel IV, fintech and digital innovations in risk management, and cyber risks and security.
The second panel of the day, co-organized by RMI and International Association of Credit Portfolio Managers (IACPM), focused on “Emerging Themes in Credit Risk and Balance Sheet Management.” This session began with Dr. Christian Pedersen, Partner at Oliver Wyman, sharing results of IACPM Oliver Wyman 2017 Global Benchmarking via a talk titled, “Financial Resource Management: Balancing Complex and Competing Constraints on Capital, Liquidity, and Funding.” He talked about the current state of financial resource management, the key challenges, and the way forward with conceptual frameworks and organizational approaches. This was followed by a panel discussion, which featured Anna Olsen, Executive Director, Credit & Portfolio Management: Distribution, Corporate, & Institutional Banking at Standard Chartered Bank and Sujit Reddy, Asia-Pacific Head of Credit Portfolio Management at JP Morgan, along with Dr. Pedersen. The panel shared their views on “Applied Issues in Credit Risk and Financial Resource Management – Balancing Competing Constraints in Practice” and was chaired by Marcia Banks, Deputy Director at IACPM.
In the second half of the conference, Prof. Steven E. Shreve who is the Orion Hoch Professor of Mathematical Sciences at Carnegie Mellon University firstly delivered the second plenary talk. His talk discussed, “Should Banks Escrow Traders’ Bonuses?” After a short coffee break, the conference broke out into two simultaneous track of scientific paper presentations and discussions by a group of researchers from both Singapore and overseas universities. Track A featured five papers on credit risk, liquidity, and risk premia, whereas papers presented in Track B discussed investment strategies and expected returns.
Launched in 2007, the Conference has grown to a regional platform that brings together policy makers, leaders from the industry, regulators, and internationally renowned academic to enhance their risk management techniques, explore the latest investment strategies and manage the fundamental regulatory changes in the financial sector.
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