Risk Conference 2021 – Day Two
Industry Keynote : Risk – The Differentiator
Success or failure of any business, enterprise or market activity is often attributed to factors like Management, Product & Services, Marketing & Sales, Process and Systems. Single common denominator across all these factors which if missed or not accorded proper attention can cost heavily and make or break the organisation is RISK or better said Management of Risk.
One function that differentiates between successful and unsuccessful or not very successful organisation is the Risk culture. Organisations which survive and succeed are the ones that cultivate and nurture a constantly evolving Governance and operating model, a thought process, where Risk management is not simply seen as a functional responsibility but becomes an integral part of the culture or DNA of the organization, a responsibility that permeates through the entire organization.
Speaker: Ashwani Sindhwani, Chief Executive, FEDAI
9.35am - 10.25am
Collateral management & the impact of new margin guidelines
The passing of the netting bill by the parliament queues up plethora of risk management and Basel regulatory reforms for Indian markets. The first step will be collateral management, followed by SACCR, XVA's, FRTB and BACVA capital charges. This will start with simple IM/VM regulations but will become complex as we move to an "ISDA SIMM"-based margin system for all non-centrally cleared derivatives. After the draft guidelines on variation margin, the market is awaiting further guidance from the central bank. Join us as we explore:
• How this impacts banks
• Changes to systems and processes
• Considerations for banks with an international presence
Speaker:
Siti Eschrich, Product Manager, Bloomberg
10.25am - 11.10am
Market risk: Turning volatility into opportunity
To the extent that volatility gives rise to opportunity, markets love it. But taking advantage— and maximizing the spoils — of these opportunities demands effective risk management. In Indian markets, the central bank has released structured products draft guidelines to bolster stability for banks trading amidst heightened volatility. Join us to uncover:
• How banks in today's complex and interconnected markets monitor, assess and manage intraday and end-of-day risks
• How banks are looking to incorporate new risks into their existing models
• Why automation is the key to a comprehensive risk management solution
Speaker:
- Amol Padhye, Executive Vice President, Head - Market Risk, HDFC Bank Ltd.
- Gaurav Kapoor, APAC Head – Risk & Valuations, Bloomberg
- Shrikant Gangal, Senior Risk & Valuation Sales Specialist, Bloomberg
11.10am - 11.25am
Break
11.25am - 12.10pm
ESG: Changing risk approaches for a changing world
Regulations and investment policies are changing as ESG-focused investing becomes the norm. Tune in as we get insights from our expert panelists on:
- How financial institutions are adapting to these new norms
- The mainstreaming of sustainable investing
- Structured ways to approach related risks
- Dealing with the challenges of climate change
- Using data to improve our decision-making
- Toby Lawson, Chief Executive and Chief Country Officer, Société Générale India
- Prabodha Acharya, Chief Sustainability Officer, JSW Group
- Justin Wu, Head of Asia-Pacific, BloombergNEF
- Alka Upadhyay, Assistant Vice President, Tata Sustainability Group (TSG), Tata Sons
12.15pm to 12.40pm
Guest Speaker Keynote: Snippets Around Risk - Measurement, Balance and Managing The Unknown
- Risk as balancing the price of saying yes versus the price of saying no - managing Type I and Type II errors - the Indian banking experience
- Feeling risk in your bones - should you invest in Bitcoins? Asset allocation, volatility, and risk management
- Managing the unknown - Tech and Cyber risk - the CTO as a true finance CXO
Speaker:
Ananth Narayan, Senior India Analyst, Observatory Group LLC
12.40pm to 12.45pm
Closing Remarks
Speaker:
Sunny Chhabria, Deputy Head of Asia-Pacific, Bloomberg LP
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Speakers
Ashwani Sindhwani
Chief Executive
FEDAI
Started banking career with State Bank of India in 1983, as Probationary Officer. After 8 years in commercial banking moved to SBI Global Markets at the time domestic Fx market was opening up, in 1991. Joined BNP Paribas in 1995, where he set up Global Markets (Fixed Income) sales team. Built a team of highly motivated young professionals and led it successfully to become a leading player in Indian markets servicing corporate and institutional clients. Managed difficult periods of global credit crisis of 2008 and liquidity problems of Eurozone in 2011 with minimal disturbance. Realigned entire business post 2011 in line with changing market environment and risk perception, simultaneously Improving market positioning and increasing market share. Last assignment at BNPP was as Managing Director, Fixed Income Sales for Corporate and Institutional Clients. In June'2016, accepted the responsibility of leading FEDAI, an association of Authorised Dealers Category I (AD I) banks and a Self-Regulatory Organisation. Currently, also a Nominee Director on the board of FBIL and member of ICC India Working Group on Banking and Finance.
Amol Padhye
Executive Vice President Head - Market Risk
HDFC Bank Ltd
Amol Padhye has close to two decades of strong experience in Treasury and Risk Management across Indian Banks, Foreign Banks and Risk Consulting space. He is an active speaker at various conferences across Asia focusing on ALM, Treasury and Risk Management. He is associated with Risk Management Association of India (RMAI) as “RMAI – Banking Expert” as well as he is founding member of the “Risk Management Society, USA (RIMS) – India Chapter”. He has also been appointed on “Risk Advisory Group of RIMS South Asia”. He also served as visiting faculty and regularly conducts workshops at reputed management and engineering institutes across India on “Derivatives, valuations, Risk Management and Capital Markets” Amol Padhye currently Heads Market Risk at HDFC Bank covering Trading Risk, Liquidity Risk, ALM / IRRBB Risk, Counterparty Credit Risk and Bank Credit Risk. He plays critical role in formulation of Bank’s policies, defining risk management framework and valuation methodologies. He has been instrumental in building credit assessment model for Bank counterparties. He also drives risk technology projects while adopting leading market practices. Before HDFC Bank, he led Treasury and ALM advisory practice at Ernst & Young LLP, India.
Ananth Narayan
Senior India Analyst
Observatory Group LLC
Prof. Ananth is an Additional Director nominated by RBI on the board of Yes Bank. He is also an Independent Director on the boards of SBI Capital Markets, Clearcorp Dealing Systems, CARE Ratings, and Dvara Research.He is the Senior India Analyst with Observatory Group LLC. He is a member of SEBI’s Mutual Fund Advisory Committee, FICCI’s Capital markets Committee, and Kerala Infrastructure Fund Investment Committee. Ananth has 24 years of experience in banking and markets, last as MD & Regional Head of Financial Markets, ASEAN & South Asia, with Standard Chartered Bank. He has served as Vice Chairman on the board of Fixed Income Money Market and Dealers Association (FIMMDA), Foreign Exchange Dealers Association of India (FEDAI), and on various RBI committees. He is a B.Tech (Electrical) from IIT Bombay and a PGDM from IIM Lucknow. He speaks, writes and consults about macroeconomics, financial markets, governance, and financial services.
ALKA UPADHYAY
Assistant Vice President
Tata Sons Pvt. Limited
Ms. Alka Upadhyay is with the Tata Group for 23+years, most recently as Assistant Vice President, Tata Sons. She leads the Environment and Sustainability practice of Tata Sustainability Group (TSG), Tata Sons. As a founding member of the TSG and Climate Change cell, she has been instrumental in shaping up Tata group’s position on both Climate Change and Sustainability. Over the last decade, Alka has helped Tata companies across sectors develop their low carbon and sustainable business strategy. She also led the Tata group’s global participation in the development of Natural Capital Protocol which was subsequently piloted in five of the Tata companies. Alka brings her expertise to various working groups shaping the conversation on environment and sustainability at global and national arena –Natural Capital Coalition, World Business Council for Sustainable Development, FICCI Environment and Circular Economy, CII (W) Environment, to name a few. Prior to joining Tata Sons, she spent a decade with Tata Steel across functions. Ms. Upadhyay has background in metallurgical engineering and has been felicitated by Young Metallurgist award by the Ministry of Steel, India for her extensive work in iron and steel industry. She is an alumnus of Harvard Business School and Bihar Institute of Technology, Sindri.
Prabodha Acharya
Chief Sustainability Officer
JSW Group
Mr. Acharya partners with CEOs, senior executives and operations heads to develop and drive sustainability strategy for the JSW Group companies of Steel, Energy, Cement, Paints, Infrastructure etc. An M.Tech in Environmental Engineering, he has worked for nearly three decades in the field of corporate environmental management, emissions reduction, climate change, corporate strategy on sustainability and policy development and assurance services. Beginning his career with SAIL, he has worked and managed a variety of environmental issues from mining to manufacturing in the metal (iron and steel) sector. Later, he managed the climate change, sustainability and customized Assurance Service for South Asia at Lloyd’s Register, UK and then worked as Sr. Vice President for Aditya Birla Group Sustainability before joining the JSW Group.
Toby Lawson
Chief Executive and Chief Country Officer
Societe Generale India
Toby Lawson supervises Société Générale’s Banking and Financial Services activities in India and steers the implementation of the Group’s strategy to develops synergies in the country. He is a seasoned banker with extensive experience in Global Markets, International finance and Risk. With India undergoing a new phase of economic, financial and sustainable development, Toby’s strong expertise will make a great contribution to the bank’s progress in India. Toby has been with Société Générale for 20 years, assuming various roles : Head of Futures and General Manager of Fimat SNC, a 100% subsidiary of Societe Générale based in Australia. Hong Kong as Regional Head of Futures and Options and General Manager of Newedge Financial HK Limited, the joint venture company owned by Societe Générale and Credit Agricole. Toby represented the firm on the HKEX Markets Advisory Panel and was a Board Member of the Futures Industry Association. He returned to Sydney and became Head of Global Markets and CEO for Société Générale Securities Australia Pty Limited (SGSAPL).Toby has a Bachelor of Economics degree from the University of Sydney and is a Fellow of the Institute of Company Directors in Australia.
Justin Wu
Head of Asia-Pacific
BloombergNEF
Justin is head of Asia-Pacific at BloombergNEF (BNEF), a research group within Bloomberg LP covering climate and commodities. He is an expert on clean energy, corporate sustainability and environmental policy in Asia and a regular contributor on climate issues for Bloomberg radio and television. Justin holds a MS in Politics from the School of Oriental and African Studies at the University of London and a BS in International Politics from Georgetown University’s Walsh School of Foreign Service.
Gaurav Kapoor
Market Specialist - Derivatives & Risk
Bloomberg L.P.
Gaurav specializes in X-asset derivatives pricing and risk management at Bloomberg and leads the structured products strategy for the APAC region.
Prior to joining Bloomberg, he has worked in the corporate and investment banking industry across Asia & Europe including specializing in structuring of complex derivative products. He is passionate about quantitative finance and risk management, with a keen interest in application of machine learning techniques in finance.
He holds a Bachelor of Engineering and MBA (Finance) from the M.S. University of Baroda. Gaurav has also been awarded the Certificate in Quantitative Finance (CQF) and is a Financial Risk Manager (FRM).
Shrikant Gangal
Regulatory Workflow Specialist
Bloomberg L.P.
Shrikant has over 20 years of experience of Financial markets.He started his career with India's largest depository.Prior to Joining Bloomberg he was Fixed Income prop trader with Chicago based trading firm trading USA and EUR yield curve. Shrikant joined Bloomberg in 2008 and currently working as a senior Risk Solution sales Specialist with Bloomberg. Shrikant has completed Masters in Finance from UK and Engineering & MBA from India.
Siti Eschrich
Product Manager, MARS Collateral Workflow
Bloomberg
Siti Eschrich is the Product Manager for MARS Collateral, Bloomberg’s collateral management engine. Ms. Eschrich’s role is to deliver solutions that help firms mitigate counterparty credit risk due to exposures in derivatives positions requiring collateralization. Prior to joining Bloomberg in 2017, Siti was the Director of Hedge Fund Credit Risk Americas at Deutsche Bank where she spent 10 years, primarily managing counterparty credit risk, client relationships and strategic initiatives. Prior experience includes various roles at Goldman Sachs.
Sunny Chhabria
Deputy Head of Asia-Pacific
Bloomberg
Sunny Chhabria is deputy head for Bloomberg's financial information and enterprise business in the Asia Pacific region. He is responsible for the firm's business and product strategy in the region and leading teams in Singapore/ASEAN, Australia/New Zealand, India/South Asia and Japan. His experience lies in enterprise data, banking technology and emerging markets, having worked with leading buy-side firms, banks and corporations across the region. Prior to his current role, Mr. Chhabria was the APAC head of Bloomberg's growing enterprise data business based in Hong Kong. He managed a team of data specialists, helping financial institutions solve complex data problems - from acquiring data to managing, distributing and integrating data across the enterprise. Mr. Chhabria has extensive experience in this region, having spent time with Bloomberg in Mumbai and Dubai from 2009-2018, spearheading the firm's business development and key customer relationships across the India sub-continent, Middle East and Sub-Saharan Africa. Before he joined Bloomberg, Mr. Chhabria was with PwC Consulting in Mumbai. He has an MBA from the Indian School of Business and is a Chartered Financial Analyst.