GARP Risk Podcast

Artificial intelligence and machine learning are transforming the ways in which financial institutions manage risk. Driven by a proliferation of data and computing power, institutions are harnessing these tools to build predictive models that enhance decision making. Today, firms are using AI and ML to improve risk management by identifying early warning signals to manage credit risk and providing investment managers with capabilities to interpret unstructured ESG data for portfolio management. 

In this podcast, Jeff D’Avignon, from FIS Global, leads a conversation with Riyaz Nakhooda, Vice President of Strategic Partnerships at Accern and Justin Chan, Product Director for FIS’ Cross Asset Trading and Risk business. They discuss the machine learning revolution and what it means for the financial services industry, practical applications of new and emerging technologies, potential challenges to adoption, and their outlook for the future.  

Justin Chan, Product Director, Cross-Asset Trading & Risk, FIS Global 

Jeff D’Avignon, Senior Sales Executive, Cross-Asset Trading & Risk, FIS Global 

Riyaz Nakhooda, Vice President of Strategic Partnerships, Accern 

Over the next two years, driven in part by the economic consequences of COVID-19 and the shift toward work-from-home, financial institutions are expected to pay a lot of attention to credit risk, cybersecurity, ESG, non-financial risks, data management, third-party risk and AI. In this podcast, GARP editorial director Robert Sales discusses these trends and other findings from Deloitte’s recent worldwide risk management survey with J.H. Caldwell - the risk advisory leader for Deloitte’s financial services practice globally. 

Speaker Bio

J.H. Caldwell is a partner at Deloitte Risk & Financial Advisory, Deloitte & Touche LLP, and serves as the risk advisory leader for Deloitte’s financial services practice globally. In this role, he is responsible for the development of the overall strategic direction of the practice, including helping clients in key areas like digital, technology, financial, cyber, strategic, regulatory and operational risks. He has more than 30 years of experience in the risk space.

Circling back on the issue of cybersecurity after many months of COVID, we speak with Robert H. Rosenzweig, RPLU, a SVP and National Cyber Practice Leader at Risk Strategies on the current environment for cyberthreats, what are the trends/issues firms are facing and implications for risk managers. Topics discussed include: the changing nature of threats, the urgency for firms to build a resilient cybersecurity strategy that incorporates strong data governance and protection, protecting IT infrastructure and systems in the remote work environment, potential financial impacts due to cyber threats and the increased use of cyber insurance to offset risks.

Speaker Bio

Robert H. Rosenzweig, RPLU, is a Senior Vice President and the National Cyber Risk Practice Leader at Risk Strategies.  In this role Rob oversees all of the firm’s cyber professionals and works directly with the firm’s clients and prospects on creating comprehensive and customized coverage for their data security, privacy, and errors & omissions exposures. Rob is also responsible for coordinating the firm’s overall cyber strategy nationally.  A published writer and frequent interview subject on cyber liability topics, he also has participated on panels and led seminars on a variety of related topics. Rob currently holds the Cyber COPE Insurance Certification from Chubb & Carnegie Mellon University and a designation as a Registered Professional Liability Underwriter.  Rob received his Bachelor of Arts Degree in Government & Economics from Hamilton College.

Edward Hancox, VP, Certification and Educational Programs and Beth Gould Creller, SVP, Certification and Educational Programs discuss the decision to sunset the Energy Risk Professional (ERP) Certification and how GARP can continue to serve the Energy industry and it’s risk professionals going forward.

GARP’s Robert Sales leads a roundtable with Randy Ahluwalia, Managing Director, BNY Mellon, Gokce Ozcan, Partner, Oliver Wyman and Wei Chen, FRM,  Director, Global Risk Consulting , Risk Research and Quantitative Solutions at SAS on bank asset and liability management, including challenges around the aspiration of industry toward “integrated balance sheet management” as well as how COVID-19 and possible future regulation may impact this area.

Over the years, GARP and SAS have worked together to bring risk practitioners unique insights on a variety of topics related to financial risk and have partnered on this episode of our COVID podcast series.

About SAS

As a leader in analytics, SAS has more than 40 years of experience helping organizations solve their toughest problems. Our unrelenting commitment to innovation enables banks to modernize and sustain a competitive edge. SAS provides an integrated, enterprise-wide risk-management platform for managing risk in an organization, from strategic to reputational, operational, financial or compliance-related risk management. Learn more about how SAS is driving innovation and business value for risk and finance professionals at www.sas.com/risk.

From Respond to Re-imagine – PART 2: Charting the journey forward for banking and risk management  

In this episode, we continue our circle back with Naeem Siddiqi, Senior Advisor, Risk and Quantitative Solutions, SAS, to explore the effects of COVID-19 on banks and risk managers, six months out from our previous discussions.  GARP’s Robert Sales moderates this two-part discussion with Naeem, who is also joined by Alex Kwiatkowski - Principal Industry Consultant, Global Banking Practice, SAS - to consider the current and potential post-pandemic impact of the coronavirus on credit risk, cyber risk, operational resilience and the banking business model.

You can listen to our earlier episodes with Naeem here: 

May 2020 June 2020.   

For more resources on this topic: click here. 

Over the years, GARP and SAS have worked together to bring risk practitioners unique insights on a variety of topics related to financial risk and have partnered on this episode of our COVID podcast series. 

About SAS 

As a leader in analytics, SAS has more than 40 years of experience helping organizations solve their toughest problems. Our unrelenting commitment to innovation enables banks to modernize and sustain a competitive edge. SAS provides an integrated, enterprise-wide risk-management platform for managing risk in an organization, from strategic to reputational, operational, financial or compliance-related risk management. Learn more about how SAS is driving innovation and business value for risk and finance professionals at www.sas.com/risk. 

SPEAKER BIOS  

Naeem Siddiqi 

Senior Advisor, Risk and Quantitative Solutions, SAS 

Naeem Siddiqi is the author of the books Credit Risk Scorecards and Intelligent Credit Scoring, and has advised and trained bankers in over 20 countries on the art and science of credit scoring. He has worked in retail credit risk management since 1992, both as a consultant and as a risk manager at financial institutions.  

At SAS, Siddiqi played a key role in the development of products relating to credit scoring. He is currently responsible for advising customers on issues concerning credit scoring and decisioning, risk strategy, climate change risk, and AI/ML in credit risk, as well as modernizing analytics infrastructures. He continues to meet and advise C-level bankers at top lending institutions worldwide. 

Siddiqi was granted a bachelor’s in engineering with honors from Imperial College of Science, Technology and Medicine at the University of London, and a master’s in business administration from York University in Toronto. 

Alex Kwiatkowski 

Principal Industry Consultant, Global Banking Practice, SAS 

Alex Kwiatkowski is SAS’s Industry Lead for Banking & Capital Markets. His role centers on articulating and amplifying company strategy and point of view to C-level executives, partners, media and influencers, along with creating powerful narratives and compelling content for thought-leadership purposes. 

Prior to joining SAS in October 2017, Alex was the Senior Strategist for Banking and Digital Channels at Finastra (formerly Misys). Before this, Alex ran IDC’s Financial Insights team in Europe, where he was responsible for all advisory and consulting services, working closely with banks, technology vendors and service providers. He also spent four years as a Principal Analyst within Ovum’s Financial Services Technology Practice, and prior to that completed a stint as a senior manager within LloydsTSB’s Business Delivery team. 

With a career spanning over 15 years in the financial services industry, and a decade spent in the fast-moving telco world before that, Alex is a veritable mine of significant and valuable knowledge. He is full of keen insights into how the sector must evolve, is blessed with a restless curiosity to explore and challenge traditional thinking, and possesses an unquenchable thirst for discovering new information – from the trivial to the revelatory – to help form his opinions. A regular speaker at major global industry conferences – including Asian Banker Summit, Retail Banking Europe, FT Middle East Banking Forum, and Retail Banking Asia – Alex is an energized and engaging keynote, willing to tackle the biggest and most controversial issues head-on. 

Alex holds a BA in Contemporary East European Studies from UCL. 

From Respond to Re-imagine – PART 1: Charting the journey forward for banking and risk management  

In this episode, we circle back with Naeem Siddiqi, Senior Advisor, Risk and Quantitative Solutions, SAS, to explore the effects of COVID-19 on banks and risk managers, six months out from our previous discussions. GARP’s Robert Sales moderates this two-part discussion with Naeem, who is also joined by Alex Kwiatkowski - Principal Industry Consultant, Global Banking Practice, SAS - to consider the current and potential post-pandemic impact of the coronavirus on credit risk, cyber risk, operational resilience and the banking business model.

For more resources on this topic: click here. 

Over the years, GARP and SAS have worked together to bring risk practitioners unique insights on a variety of topics related to financial risk and have partnered on this episode of our COVID podcast series.

About SAS

As a leader in analytics, SAS has more than 40 years of experience helping organizations solve their toughest problems. Our unrelenting commitment to innovation enables banks to modernize and sustain a competitive edge. SAS provides an integrated, enterprise-wide risk-management platform for managing risk in an organization, from strategic to reputational, operational, financial or compliance-related risk management. Learn more about how SAS is driving innovation and business value for risk and finance professionals at www.sas.com/risk.

SPEAKER BIOS

Naeem Siddiqi

Senior Advisor, Risk and Quantitative Solutions, SAS

Naeem Siddiqi is the author of the books Credit Risk Scorecards and Intelligent Credit Scoring, and has advised and trained bankers in over 20 countries on the art and science of credit scoring. He has worked in retail credit risk management since 1992, both as a consultant and as a risk manager at financial institutions.

At SAS, Siddiqi played a key role in the development of products relating to credit scoring. He is currently responsible for advising customers on issues concerning credit scoring and decisioning, risk strategy, climate change risk, and AI/ML in credit risk, as well as modernizing analytics infrastructures. He continues to meet and advise C-level bankers at top lending institutions worldwide.

Siddiqi was granted a bachelor’s in engineering with honors from Imperial College of Science, Technology and Medicine at the University of London, and a master’s in business administration from York University in Toronto.

Alex Kwiatkowski

Principal Industry Consultant, Global Banking Practice, SAS

Alex Kwiatkowski is SAS’s Industry Lead for Banking & Capital Markets. His role centers on articulating and amplifying company strategy and point of view to C-level executives, partners, media and influencers, along with creating powerful narratives and compelling content for thought-leadership purposes.

Prior to joining SAS in October 2017, Alex was the Senior Strategist for Banking and Digital Channels at Finastra (formerly Misys). Before this, Alex ran IDC’s Financial Insights team in Europe, where he was responsible for all advisory and consulting services, working closely with banks, technology vendors and service providers. He also spent four years as a Principal Analyst within Ovum’s Financial Services Technology Practice, and prior to that completed a stint as a senior manager within LloydsTSB’s Business Delivery team.

With a career spanning over 15 years in the financial services industry, and a decade spent in the fast-moving telco world before that, Alex is a veritable mine of significant and valuable knowledge. He is full of keen insights into how the sector must evolve, is blessed with a restless curiosity to explore and challenge traditional thinking, and possesses an unquenchable thirst for discovering new information – from the trivial to the revelatory – to help form his opinions. A regular speaker at major global industry conferences – including Asian Banker Summit, Retail Banking Europe, FT Middle East Banking Forum, and Retail Banking Asia – Alex is an energized and engaging keynote, willing to tackle the biggest and most controversial issues head-on.

Alex holds a BA in Contemporary East European Studies from UCL.

The pandemic has certainly had a significant impact on the third line of defense in risk management, presenting audit with significant challenges in areas like credit risk modeling, emerging risk evaluation, internal controls and remote working. In this podcast, Citi’s Chief Auditor for risk, Andy Blight, discusses the fallout from COVID-19, the changes Citi’s audit team made in response to the crisis, and the audit adaptations we may see post-pandemic.

Andy Blight, Chief Auditor – Risk, Citi

Andy Blight is the Chief Auditor for Risk, responsible for Internal Audit’s coverage of Citi’s global independent risk management including Market Risk, Credit Risk, Operational Risk and Model Risk. Andy has over 20 years of experience in the banking industry in a number of Internal Audit and Risk Management roles. Prior to this role, Andy was Citi’s Regional Chief Auditor for EMEA.

Andy originally joined Citi Internal Audit in 2014 from JPMorgan, where he was Executive Director, EMEA Corporate Audit. Prior to JPMorgan, Andy spent 7 years at Standard Chartered in various positions in London and Singapore, including Head of Audit for Consumer Banking and Head of Audit for Group Functions & Risk. In addition to his audit experience, Andy has worked in Market Risk Management and Operational Risk Management functions at ING and Barclays Capital.

Andy is a Chartered Member of the Institute of Internal Auditors (CMIIA), Fellow of the Institute of Chartered Accountants in England and Wales (FCA), Qualified in Internal Audit Leadership (QIAL) and a Certified Internal Auditor (CIA).

The pandemic has had a dramatic impact on commercial real estate, greatly dimming the short-term attractiveness of big cities while triggering extremely high delinquency rates on CRE loans and skyrocketing office vacancies.

In this podcast, we speak with Bob Lieber, executive managing director at Island Capital Group, about the repercussions of COVID-19, the differences between this pandemic and other crises, the work-from-home approach, the unique CRE investment opportunities yielded by the market dislocation, and the potential “new normal” for offices after the development of a vaccine.