Nineteenth Annual Risk Management Conference
This international conference will provide a platform for policy makers, regulators, industry executives, and researchers from academia and industry to enhance their risk management techniques, explore the latest investment strategies and manage the fundamental regulatory changes in the financial sector. The conference begins with a half-day policy forum where the focus of talks will be on policy initiatives, regulatory changes and industry developments. The second half of the day of the conference is a scientific program where researchers will present on recent theoretical developments, analytical techniques and empirical findings in the field of risk management. A pre-conference workshop on Credit Portfolio Management is organized in collaboration with the International Association of Credit Portfolio Managers (IACPM).
Agenda
| Event | Please Click on the Date Below to Open the Agenda |
| Pre-Conference Workshop | 6 August 2026 |
| Nineteenth Annual Risk Management Conference | 7 August 2026 |
Keynote Talk: Efficiency and Equity in Climate Policy: Mitigation, Adaptation, and the Road Ahead
Since the 2015 Paris Agreement, global greenhouse gas emissions have continued to rise. Current nationally determined contributions put the world on a trajectory toward a temperature increase of 2.3–2.5°C (UNEP, 2025). Even full decarbonization by advanced economies alone would be insufficient to stabilize global temperatures: emerging and developing economies (EMDEs) must also decarbonize rapidly. Yet EMDEs lack the necessary financing, and capital flows from developed countries currently stand at roughly one tenth of what is needed annually. Proposals to close this gap have largely relied on financial engineering and the assumption of large voluntary demand for instruments such as green bonds at substantial yield concessions — assumptions that empirical evidence does not support.
Because nature does not distinguish where emissions originate, efficient climate policy should prioritize abatement where it is cheapest. Some of the most cost-effective opportunities to reduce net greenhouse gas emissions lie in less developed economies, creating potential gains from trade. This lecture argues that a well-designed carbon market — one encompassing a broad voluntary coalition of countries and a wide range of goods, services, and nature-based solutions — can simultaneously advance efficiency and equity: delivering ambitious emissions reductions in emerging markets while distributing the costs of decarbonization more fairly across countries at different stages of development. The lecture also examines proposals to help low-income countries adapt to climate impacts they are already experiencing — a matter of both practical necessity and global equity.
Throughout, we identify open questions where further work by academic economists is essential to advance the implementation of these measures.
Keynote Speaker
José Scheinkman
Charles and Lynn Zhang Professor of Economics, Columbia University
Chair,COP30 Presidency Council on Economics, Finance and Climate
Research Associate, National Bureau of Economic Research
Research Fellow. CEPR
Visiting Professor, NUS Risk Management Institute
Prof. José Alexandre Scheinkman
Charles and Lynn Zhang Professor of Economics
José A. Scheinkman is the Charles and Lynn Zhang Professor of Economics at Columbia University, Theodore A. Wells ‘29 Professor of Economics (emeritus) at Princeton University and a Research Associate at the NBER. Previously, Scheinkman was the Alvin H. Baum Distinguished Service Professor and Chairman of the Department of Economics at the University of Chicago, Blaise Pascal Research Professor (France), Visiting Professor at Collège de France, Vice President in the Financial Strategies Group of Goldman, Sachs & Co. and co-editor of the Journal of Political Economy. He has served as a consultant to several financial institutions and serves on the board of Cosan Limited, a NYSE listed company engaged in the production and distribution of sugar, ethanol and energy in Brazil.
Scheinkman is a Member of the National Academy of Sciences, Fellow of the American Academy of Arts and Sciences, Fellow of the American Finance Association, Fellow of the Econometric Society, Corresponding Member of the Brazilian Academy of Sciences, and received a “docteur honoris causa” from the Université Paris-Dauphine. He was awarded a John Simon Guggenheim Memorial Fellowship in 2007 and the CME-MSRI Prize in Innovative Quantitative Applications in 2014. Scheinkman’s current research focuses on speculation in financial markets and on the effect of increases in liquidity on financial fragility.
Plenary Speakers
Will Cong
NTU President's Chair Professor
Assoc. Dean & Prof., Nanyang Business School
Prof., College of Computing and Data Science
Nanyang Technological University
Prof. Will Cong
NTU President's Chair Professor
Assoc. Dean & Prof., Nanyang Business School
Prof., College of Computing and Data Science
Nanyang Technological University
Lin William Cong is the President’s Chair Professor in Finance, Computing and Data Science at Nanyang Technological University, with joint appointments at Nanyang Business School (Associate Dean and Professor in the Banking and Finance Division) and the College of Computing and Data Science (Professor in Data Science and AI Divisions). Prior to joining NTU, he served as the Rudd Family Endowed Chair Professor of Management and Finance, and faculty director for the FinTech initiative at Cornell University, and on the Finance faculty at the University of Chicago Booth School of Business. He is also an Editor at the Management Science, an editorial board member for multiple leading academic and practitioner journals, a Research Associate (senior research fellow) at the National Bureau of Economic Research (NBER), a Research Fellow at the European Centre of Economic Policy Research (CEPR), and a senior fellow and founding track director (“Tech, Digital Markets and AI”) at the Asian Bureau of Finance and Economic Research (ABFER), a faculty scientist at the Initiative for Cryptocurrencies & Contracts (IC3), the founding director of Center of AI for Social Science at Shenzhen Loop Area Institute (SLAI), and a lead founder of multiple international research forums (www.CBER-Forum.org and www.ABFR-Forum.org). He is also a member of multiple professional organizations such as the American Economic Association, European Finance Association, and the Econometric Society.
Cong’s research spans financial economics, information economics, AI, FinTech, digital economy, and entrepreneurship, and has been featured in Bloomberg, CNN, the Economist, Washington Post, etc. With coauthors from interdisciplinary fields, he has pioneered AI for finance and social science, generative modeling for economics, information design in finance, and has laid the foundations of tokenomics (covering categorization of tokens, cryptocurrency pricing, central bank digital currencies/payment systems, and optimal token monetary policy design), analyzed centralization issues and dynamic incentives in blockchains and DeFi, and developed data analytics for detecting market manipulation and better FinTech regulation, among others. His coauthors and he were among the earliest to point the environmental harm of mining pools, wash trading on unregulated crypto exchanges, the problem of vertical integration in CeFi that underlies the FTX collapse, and the lack of financial infrastructure in onchain ecosystems. He is one of the most published and cited FinTech researchers in the world and was ranked as a top 5 young economist by IDEA. He also ranks the 6th highest for theory citations among all Finance Theory Group members who graduated after 2000. His research has been recognized with over 100 conference best paper prizes and competitive grants, including the inaugural Empire AI Compute grants, Best Paper Prize at Management Science, CBER-Circle Insight Prize, China International Conference of Finance Best Paper Award, and Exponential Science Award.
Semi - Plenary Speakers
Thorsten Schmidt
Chair of Mathematical Stochastics, University of Freiburg
Prof. Thorsten Schmidt
Chair of Mathematical Stochastics, University of Freiburg
Thorsten Schmidt was appointed to the Chair of Mathematical Stochastics at the University of Freiburg for the summer semester 2015, succeeding Prof. Ernst Eberlein. From October 2017 to September 2019, Prof. Schmidt was a Research Fellow at the Freiburg Institute for Advanced Studies in a joint research group with the University of Strasbourg and USIAS on the topic Linking Finance and Insurance.
His research primarily focuses on three areas and their applications: financial and insurance mathematics, stochastic processes, and statistics. More recently, he has been working on methods of machine learning, in particular their applications in mathematical finance and with regard to the regulation of AI.
Throughout his career, both in statistics and in mathematical finance, he has repeatedly encountered interesting questions whose surprisingly high complexity inspired researchers and spurred the development of new mathematical techniques. In Freiburg, his goal with his young team is to tackle these challenges with improved mathematical models and to apply the developed methods to a wide range of fields. Since 2024, he has been Editor-in-Chief of the journal Statistics and Risk Modeling.
Yang Liu
Associate Professor of Finance, University of Hong Kong
Prof. Yang Liu
Associate Professor of Finance (with tenure), The University of Hong Kong
Yang Liu is a financial economist and macroeconomist.
My research interests span macro-finance, and international finance.
Currently, I study the government debt, fiscal risk, safe assets, international shock transmissions, financial intermediaries, monetary policy and inflation risks, and general government policy.
Elvira Sojli
Associate Professor of Finance, The University of New South Wales
Prof. Elvira Sojli
Associate Professor of Finance, The University of New South Wales
Elvira is an Associate Professor of Finance in the School of Banking and Finance, in UNSW Business School. She is also the president of FIRN (Financial Research Network), a fellow of the Asian Bureau of Economic and Finance Research (ABFER) and of the Asian Innovation and Entrepreneurship Association (AIEA), and an associate editor at the Journal of Financial Markets. Her work focuses on empirical industrial organisation at the firm and market level, and she is particularly interested in innovation and commercialisation. Additional current and past work covers international finance and empirical methods. Her work has been published in top finance and economics journals and has been presented at the AEA, AFA, WFA, EFA, FIRS among many other conferences. She has a PhD and MSc from Warwick Business School, University of Warwick, and a BSc from the London School of Economics.
Invited Speakers
Lutfey Siddiqi
Visiting Professor-in-Practice LSE
Adjunct Professor, NUS
Lutfey Siddiqi
Visiting Professor-in-Practice LSE
Adjunct Professor, NUS
Lutfey Siddiqi is an Adjunct Professor at the National University of Singapore with joint appointments at the Risk Management Institute (RMI), the Department of Strategy & Policy, and the Institute for Environment & Sustainability (IES).
Concurrently, he is a Visiting Professor-in-Practice at the London School of Economics (IDEAS).
Between Sep 2024 and Feb 2026, Lutfey Siddiqi served as Special Envoy of the head of the interim government of Bangladesh, with the rank-equivalent of cabinet minister. In this role, he led or supported initiatives in economic diplomacy, trade and tariffs, labour reforms, migrant workers, ports and logistics, investment facilitation, banking reform and IMF/World bank liaison.
He is a member of the advisory boards of LSE Systemic Risk Centre, the Centre for Governance and Sustainability (CGS) at NUS business school, the Inclusion Initiative (LSE Behavioural Science), as well as the governing boards of UWC Atlantic College and ShareAction.
He previously served on the governing board of New City College (NCC Group) London, LSE Court of Governors and LSE investment committee.
Previously, Lutfey was a Managing Director and member of the global executive committee for FX, Rates and Credit at UBS Investment Bank with responsibility for emerging markets. In addition, he was the founding head of UBS Knowledge Network, a member of the UBS Group Sustainability Council, and a designated 'opinion leader' contributing to cross-divisional white-papers and media outreach. Prior to that, he ran Asia-wide businesses for UBS and Barclays based in Singapore, with teams spanning Japan, Australia, Korea, India, Greater China and ASEAN.
Lutfey was recognized as a Young Global Leader by the World Economic Forum in 2012 where he has served on their global future councils since 2014, contributed to the annual risk report since 2013 and spoken on the official program at Davos for several years.
A former board member of CFA Singapore, he was an inaugural member of the CFA Future of Finance content council and has also served briefly on the executive leadership team of CFA Institute.
He has a Masters in Economics from LSE, a first class BSc (hon.) in Econometrics from the University of York, and has completed leadership courses at Harvard, Oxford, IMD and the LKY School of Public Policy. He also holds the Financial Times diploma for non-executive directors.
Apart from core modules in finance and economics, Lutfey teaches and convenes on applied topics in risk management, global macro investing, fixed income and currency markets, emerging markets including central bank policy, financial regulations, sustainability & green finance, institutional change, leadership and board governance.
Jacky Man Fung TAI
Managing Director
Group Head, Trading & Structuring
Global Financial Markets
DBS Bank
Jacky Man Fung TAI
Managing Director
Group Head, Trading & Structuring
Global Financial Markets
DBS Bank
Jacky Tai is the Group Head of Trading & Structuring for Global Financial Markets at DBS Bank since 2018 where he oversees the management of trading, market making, product structuring and risk warehousing activities across asset classes regionally, as well as building up the crypto and carbon product businesses.
He joined DBS in 1999, bringing over more than a decade of experience from JP Morgan, Nomura and Dresdner Bank AG across Asia and New York. Jacky was initially tasked with developing DBS Greater China’s trading operations in Hong Kong, Taiwan, and China. Under his leadership, Greater China and GFM trading teams have garnered numerous awards and accolades in local and derivatives markets from
publications like Asian Risk, Global Finance and Banker. His contributions have also led to multi-fold growth of DBS’ franchise business, revenue, and capital risk adjusted returns.
Known as an avid innovator and market pioneer, Jacky champions Asian connectivity and digitalisation for the advancement of financial markets. He has represented DBS Singapore, Hong Kong, and China in public forums and associations initiated by regulators such as the Hong Kong Treasury Market Association committee, ACI, ASFIMA task force, China QFII, Singapore RQFII, FX Global Code, Blue
Book, China Bond Connect. In recognition of his expertise, he was conferred the Singapore IBF Fellow Award in Financial Markets in 2022.
Jacky was appointed as President of the Financial Markets Association of Singapore in January 2024, having previously
served as Treasury since 2021.
He graduated with a Bachelor of Science (Hons) in Computer Science from the Chinese University of Hong Kong.
Michele Yap
Chief Risk Officer, Singapore & ASEAN, Standard Chartered bank
Michele Yap
Chief Risk Officer, Singapore & ASEAN
Michele Yap brings with her a broad range of experience, capabilities and skills spanning risk management, data and analytics, retail financial services and credit trading in both regional and global roles.
Michele is currently the Chief Risk Officer, Singapore & ASEAN. Prior to this, she was the Global Head of Enterprise Risk Data & Reporting for Standard Chartered, with responsibility for developing the data capabilities of the Risk function and delivering risk reports and insights to support risk management and drive better decisions.
Michele was previously the Head of Analytics Monetisation and Business Planning for the Retail Bank in ASEAN and South Asia. She has also held roles in Treasury, where she worked with the Financial Markets business on strategic initiatives relating to regulatory reform, and was the Head of Group Stress Testing, during which time she developed the Group’s first Reverse Stress Test.
She first joined Standard Chartered in 2010 from Barclays Capital, where she was the Head of Portfolio Management in Asia-Pacific. Under her stewardship, the Asia-Pacific region consistently posted the highest risk-adjusted returns globally. Michele began her career in New York, where she worked in investment banking and debt capital markets, before helping to set up the active Portfolio Management desk trading in credit derivatives, corporate bonds and loans.
Michele is a CFA charterholder and was recognized as a Future Leader by the Institute of International Finance in 2014.
Caroline Ricard
Chief Risk Officer, APAC (ex-Japan), Mizuho Bank & Securities
Caroline Ricard
APAC (ex-Japan) Chief Risk Officer, Mizuho Bank and Securities
Caroline Ricard is a seasoned risk management executive with over 20 years of experience across global financial markets. She currently serves as APAC (ex-Japan) Chief Risk Officer for Mizuho Bank and Securities where she leads the design and execution of integrated risk management frameworks spanning across financial and non-financial risks.
A material part of her career has relied over strong ability to balance client-focused business growth with robust risk governance, develop highly technical teams, work closely with senior leadership, boards, regulators, and auditors across multiple jurisdictions.
Prior to Mizuho, Caroline held several global leadership roles at Standard Chartered, overseeing Traded Risk and Stress Testing across diverse asset classes and product ranges. She began her financial career at HSBC in trading and quantitative analysis roles, building deep expertise in derivatives and risk modelling, following an early foundation in aerospace engineering.
Caroline is recognized for leading large, multicultural teams and driving transformation initiatives that strengthen risk infrastructure and culture. She is passionate about innovation, talent development, and fostering collaboration across geographies.
Caroline is a French national, Singapore PR, and holds a Master of Science in Aeronautics and Astronautics from Stanford University as well as a Master’s degree in Applied Mathematics and Finance from École des Mines de Paris. She brings a global perspective shaped by her international career and leadership experience in Asia and Europe.
Greg Unsworth
Digital Business and Asia Pacific Risk Services Leader, PwC Singapore
Greg Unsworth
Digital Business and Asia Pacific Risk Services Leader, PwC Singapore
Greg is the Asia Pacific Risk Services and Digital Business Leader at PwC Singapore. He is also PwC’s Global Risk Services Alliances Leader.
He has been with PwC for over 35 years, and has been based in Singapore for the last 20 years. He has significant overseas and regional experience, having previously been based in the London, Sydney and Tokyo offices.
Greg has extensive experience providing advice to companies globally on corporate governance, risk and business performance. He is heavily involved in the development of key PwC thought leadership around digital disruption, emerging technology, and innovation. In his role as the global risk alliances leader, he partners with his team to integrate technology and relationships to enhance business potential.
Greg is a regular speaker at events covering risk and innovation, including in-depth discussions on Responsible AI—ensuring ethical and transparent AI practices—and scaling AI to drive sustainable business growth. He is the Singapore Divisional President of CPA Australia.
For other enquiries, please contact:
Nineteenth Annual Risk Management Conference
Dr. Jamie Yao at jingxuan.yao@nus.edu.sg or 6601 1065
IACPM Pre-conference Workshop
Ms. Jaslin Chong at rmicsh@nus.edu.sg or 6516 8497