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Tuesday, 9 May, 2023
08:30 - 09:25am
Registration and networking
09:25 - 09:30am
GETTING AHEAD OF UPCOMING REGULATION
09:30 - 10:30am
- Understanding what regulators are asking for, when they want it and how to prepare
- Benchmarking where we are, where we want to be and how we get there
- Complying to multiple and often contrasting regulatory and disclosure requirements across various jurisdictions
Moderator
Bobby Bean
Managing Director
Forvis
Bobby Bean is a Managing Director at FORVIS. Prior to FORVIS, Bobby spent more than 30 years at the Federal Deposit Insurance Corporation (FDIC), most recently as the Deputy Director of the Division of Risk Management Supervision and head of the Capital Markets and Accounting Policy Branch. In this role, Bobby led the FDIC’s international and domestic policy development for regulatory capital, capital markets, and climate risk. He served as a member of the Basel Committee on Banking Supervision and as a member of the Network for Greening the Financial System. Bobbyestablished and led the FDIC’s international and domestic policy initiatives on climate-related financial risks, served as the chair for the FDIC’s interdivisional working group on climate-related financial risks, and representedthe FDIC at the Financial Stability Oversight Committee (FSOC) climate-related financial risk working group.
Panelists
Derek Jun
Head of Climate Risk
TIAA & Nuveen
Bridget Realmuto LaPerla
Director of ESG Solutions
TD Bank
Raymond Conover
Enterprise Stress Testing and Climate Scenario Analysis Executive
Bank of America
10:30 - 11:00am
Networking break
BEST IN CLASS CLIMATE RISK MODELING AND STRESS TESTING
11:00 - 12:00pm
- Determining what ‘good’ looks like for an ESG risk management framework and how to get there
- Best practices and successes from around the globe and avoiding the mistakes of international counterparts
- Balancing short term and long term commitments: how are we achieving targets?
- Internal versus external priorities: are they aligned or different?
Moderator
Ricardo Martinez
Principal
Deloitte
Ricardo is a Principal in Deloitte & Touche LLP’s Risk & Financial Advisory practice. He has over 25 years of experience serving the financial services industry, specializing in credit and market risk, OTC derivatives processing and related regulations.
Ricardo serves as the Sustainable Finance Risk Leader for Deloitte in the US, helping global financial institutions navigate complex and evolving ESG expectations and regulations. This role serves as a natural extension to his focus on large and complex industry transformations that require a combination of compliance, analytics, technology, and business understanding.
Panelists
James Norman
Global Head of Sustainable Investing Client Strategy
Goldman Sachs
Karl Pettersen
Chief Sustainability Officer
Société Générale
Tim Judge
Senior Vice President, Head of Modeling and Chief Climate Officer
Fannie Mae
12:00 - 1:00pm
- Best practices and quick wins from the early rounds of climate risk stress testing
- Assessing what good looks like and how to effectively measure
- Increasing climate risk model robustness and improving accuracy
Moderator
Maureen Maguire
Senior Climate Analytics Consultant US Lead – Climate and ESG Solutions
Ortec Finance
As Senior Climate Analytics Consultant within Ortec Finance’s Climate & ESG Solutions, Maureen is primarily responsible for integrating its investment decision-making technology for US-based financial institutions and providing ongoing support on how its analytics can help them measure, manage and monitor their climate strategy.
Maureen has over three decades of experience across ESG, climate analytics, scenario analysis and economic and sector forecasting within various research and consultancy roles. She joins Ortec Finance from The Climate Service and was previously IHSMarkit’s Global Head of Financial Stress Testing, where she worked with large financial institutions on their financial stress test requirements and incorporated macro analysis into climate stress testing and ESG.
Maureen holds a Bachelor and Master of Agricultural and Resource Economics from the University of Massachusetts, USA.
Panelists
Moez Hababou
Director of Model Risk Management
BNP Paribas
Moez Hababou heads Model Risk Management for BNP Paribas US for the Credit, Financial Security, and Capital Planning workstreams. He is responsible for all model validation activities in the areas of Wholesale Credit, CCAR, and BSA/AML. More recently, he is focusing on best ways to account for climate risk in credit risk management and validating machine learning models. Prior to his current role, Moez Headed CCAR Modeling for CIB BNPP US. Moez held similar analytical and modeling roles at UBS Wealth Management, Barclays and Royal Bank of Scotland. Moez has also numerous publications in academic journals. Moez holds a Ph.D. in Management Science from York University (Toronto, Canada) and a Master degree in Finance from Laval University (Quebec City, Canada)..
Cyril Shmatov
Managing Director, Head of Enterprise Stress Testing
Citi
Cyril Shmatov leads the Methodology and Applications team within the Enterprise Risk Management organization at Citigroup, responsible for internal stress testing exercises at the Enterprise level, as well as review and analysis of stress testing results. Prior to joining Risk Management in 2014, Cyril had held a variety of roles within Citi Global Markets, including those in Citi Principal Strategies, Markets Quantitative Analysis and Credit Derivatives Trading Strategy. His previous experience also includes a Research Analyst position with Millennium Partners.
Cyril holds a PhD in Applied Mathematics from Columbia University in The City of New York, where he is now also an adjunct professor within the Financial Engineering program.
Faisal Mohed
SVP, Director of Capital Planning & Stress Testing
Valley National Bank
Faisal Mohed is Senior Vice President and Director of Capital Planning & Stress Testing within the Corporate Finance Group at Valley National Bank. Faisal joined Valley in 2008 after completing his BA in Mathematics from Rutgers, The State University of NJ. Faisal later completed his MBA studies (Finance and International Business concentrations) at Rutgers Business School in 2014. Prior to his current role, Faisal served as Commercial Underwriting Division Head in Valley’s Credit Risk Management Group. Faisal is involved in a variety of initiatives across the organization including Valley’s ESG Council and is Chair of the Risk Assessment and Mitigation Sub-Council. Faisal has served as a member of the American Bankers Association Conference Advisory Board since 2020 and was recently honored with the New Jersey Banker’s Rising Star Award.
1:00 - 2:15pm
Lunch and networking
2:15 - 3:15pm
- Aligning with and informing the firm’s risk appetite
- How climate stress testing results can and should inform business decision making
- Determining effective KPIs, KRIs and reporting metrics
- How technology can and is supporting
Moderator
Rich Sorkin
CEO and Co-founder
Jupiter Intelligence
Jupiter Intelligence™ is the trusted leader in physical climate risk analytics for resiliency planning, risk management and disclosure. Jupiter’s customers include five percent of the world’s largest enterprises, many companies within the Global 2000, the U.S. Department of Defense, and public sector authorities in jurisdictions around the world. Its analytics have been adopted by at least one of the world’s five largest entities in asset management, banking, chemicals, insurance, oil and gas, minerals and mining, electric utilities, and construction.
The company is led by veterans of startups and global corporations, machine learning and satellite pioneers, and a Nobel Prize winner. The team includes scientists from NOAA, the National Science Foundation and the world’s leading universities.
In Mr. Sorkin’s three-decade-long career as a Silicon Valley serial entrepreneur, executive, advisor, board member and investor, he has led breakthrough companies in numerous industries. Sorkin focuses on commercializing transformative technologies, with a significant concentration on financial services, energy, media, politics, and the environment.
A cofounder of multiple startups, Sorkin is the former Chair & CEO of Zip2, an Internet 1.0 company providing analytics and visualization of geospatial data, acquired by HP. He was president of Kaggle prior to its acquisition by Google, leading the introduction of big data predictive analytics into the enterprise market.
Sorkin began his career at NASA and Bain & Company. He helped initiate coverage of the supercomputer industry at Goldman Sachs and ran the Sound Blaster business at Creative Labs during the time it gained market dominance, growing revenues from under $100M to close to $1 billion.
Sorkin graduated from Yale University, where he was a research assistant to Nobel Laureate William Nordhaus, and the Stanford Graduate School of Business, where he was a Lockheed Scholar. He has served as a Board Member of public companies, private firms, the Yale University Development Board, and several non-profit organizations.
Panelists
Matt Kaczmarek
Director
BlackRock
Jenny Su
Director of Enterprise Risk
Santander Bank
Dr. Jenny (Jiwei) Su has over 24 years of experience in banking industry. She tells convincing risk management stories, leveraging her broad experience as an industry leader and practitioner and a bank regulator. She excels at developing strategics, collaborating, mobilizing resources and executing, while considering the demand of multiple stakeholders and the balance of risk and reward. You may see her in action on climate risk, strategic risk, risk ID, stress test, CECEL/IFRS9, while laying the groundwork for climate risk, or leading model development or leading model validation in a constructive way. She holds a PhD in economics. Her motto is ““Anyone who stops learning is old, whether at twenty or eighty.” — Henry Ford
Tim Judge
Senior Vice President, Head of Modeling and Chief Climate Officer
Fannie Mae
3:15 - 3:45pm
Networking break
3:45-4:45pm
- Identifying the right data to accomplish ESG risk management requirements
- Prioritising data accuracy and coherent data interpretation
- Mitigating the risk of inaccurate data
- Overcoming assumptions and filling gaps
Moderator
Varun Mehta
Executive Director, Head of ESG Data and Technology Product Management
Morgan Stanley
Panelists
Mitch Carpen
Senior Vice President and Climate Risk Executive
Key Bank
Mitch Carpen has over 25 years of experience designing, leading and implementing a broad range of growth, realignment and startup initiatives in financial and governmental organizations.
He is the Climate Risk Executive at KeyBank and currently leading their Climate Risk Framework buildout.
In his previous role at the Green Climate Fund in South Korean he served as the head of the Office of Risk Management, Compliance and Sustainability where he built up a team and the due diligence framework to allow the Fund to significantly scale up its portfolio of climate change transactions in developing countries.
Before joining the Green Climate Fund, he worked with the State of New Jersey as an Executive Director to startup an infrastructure bank that focused on financing resilient energy assets after the devastating effects of Hurricane Sandy.
Before this he was an Assistant General Manager at Bank of Tokyo-Mitsubishi in Singapore where he led the startup of the risk function for their newest regional headquarter. He also held senior positions with Societe Generale’s risk team in New York City, Instinet Corporation and Prudential Financial.
Mitch has a masters degree in Mathematics of Finance from Columbia University in New York City, and a masters and bachelors degree in Economics and Information Science from Rutgers University in New Jersey.
Nosa Omoigui
CEO and Founder
Weave.AI
Nosa Omoigui is the CEO and founder of Weave.AI. Prior to Weave.AI, he led machine learning and personalization teams at Amazon. Nosa also held a senior role at Microsoft Research (MSR). Nosa has a total of 23 granted patents and over 50 pending patents on various areas of technology, including AI.
George Soulellis
Enterprise Model Risk Officer
Freddie Mac
George Soulellis currently serves as Enterprise Model Risk Officer for Freddie Mac with overall responsibility for model risk management in the firm. Previously, he served as Managing Director, Risk Analytics for Barclays Bank in the UK, overseeing model development and analytics. He has also held leadership positions in the risk management/modelling/analytics space at Citigroup, General Electric and JP Morgan Chase. His interests primarily lie in model uncertainty measurement, model risk under extrapolation, machine learning methods and modelling for capital requirements.
Alia Haider
Executive Director, Climate Solutions Specialist
MSCI
4:45-5:45pm
Networking Drinks
Wednesday, 10 May, 2023
08:30 - 09:25am
Registration and networking
09:25 - 09:30am
PREPARING RISK MANAGEMENT FOR THE INTEGRATION OF CLIMATE AND ESG FACTORS
09:30 - 10:30am
- Incorporating climate and ESG into day-to-day risk management practices
- Understanding how physical and transition risk integrate into existing risk silos
- Determining reporting lines and the ownership of risk
Moderator
Carlotta Franchin
Managing Director ESG and Climate Risk Advisory
Forvis
Carlotta Franchin is a Managing Director in the ESG & Climate Risk Advisory practice at FORVIS. Leveraging her extensive experience in financial services across advisory and corporate roles, she helps organizations define and execute their ESG framework. She currently supports Financed Emissions and Net Zero Programs management, as well as ESG Risk and regulatory compliance programs, physical and transition risk assessments, DEI risk assessments, and solutioning at large financial institutions. Carlotta is an Associate Board Member at IDiF, a non-profit organization focused on increasing Diversity, Equity & Inclusion in Asset Management. She holds a Sustainable Finance Certificate of Professional Achievement from Columbia University and a Sustainability & Climate Risk GARP Certificate.
Panelists
Emily Westendorf
Vice President, ERM Program Manager
Fifth Third Bank
Emily Westendorf serves as vice president and ERM program manager. She is responsible for establishment of the climate risk program including execution of climate scenario analysis, design of a data strategy, and climate-related communications.
Emily previously served in multiple operational risk roles including Scenario Analysis Program Manager, KRI Program Manager, Operational Risk Governance Manager. In these roles, Emily managed integration of key risk indicators from the MB Financial merger, enhanced governance protocols in alignment with Heightened Standards, and executed large scale scenarios on topics ranging from cyber to LIBOR to climate. Emily also provided second line operational risk oversight of Consumer Bank and centralized functions. Emily began her career at Fifth Third as a Learning Facilitator supporting Retail.
Andrew Brammer
Senior Vice President and Chief Credit Risk Officer
Fannie Mae
10:30 - 11:00am
Networking Break
IMPLEMENTING EFFECTIVE GOVERNANCE AND CULTURE
11:00 - 12:00pm
- Creating comprehensive education programs from the board down
- Educating the institution on the current priorities of ESG risk management programs
- Informing decision making throughout other functions of the institution
- Expanding ESG risk management teams: training from within or recruiting specialists
Panelists
Mitch Carpen
Senior Vice President and Climate Risk Executive
Key Bank
Mitch Carpen has over 25 years of experience designing, leading and implementing a broad range of growth, realignment and startup initiatives in financial and governmental organizations.
He is the Climate Risk Executive at KeyBank and currently leading their Climate Risk Framework buildout.
In his previous role at the Green Climate Fund in South Korean he served as the head of the Office of Risk Management, Compliance and Sustainability where he built up a team and the due diligence framework to allow the Fund to significantly scale up its portfolio of climate change transactions in developing countries.
Before joining the Green Climate Fund, he worked with the State of New Jersey as an Executive Director to startup an infrastructure bank that focused on financing resilient energy assets after the devastating effects of Hurricane Sandy.
Before this he was an Assistant General Manager at Bank of Tokyo-Mitsubishi in Singapore where he led the startup of the risk function for their newest regional headquarter. He also held senior positions with Societe Generale’s risk team in New York City, Instinet Corporation and Prudential Financial.
Mitch has a masters degree in Mathematics of Finance from Columbia University in New York City, and a masters and bachelors degree in Economics and Information Science from Rutgers University in New Jersey.
Emily Westendorf
Vice President, ERM Program Manager
Fifth Third Bank
Emily Westendorf serves as vice president and ERM program manager. She is responsible for establishment of the climate risk program including execution of climate scenario analysis, design of a data strategy, and climate-related communications.
Emily previously served in multiple operational risk roles including Scenario Analysis Program Manager, KRI Program Manager, Operational Risk Governance Manager. In these roles, Emily managed integration of key risk indicators from the MB Financial merger, enhanced governance protocols in alignment with Heightened Standards, and executed large scale scenarios on topics ranging from cyber to LIBOR to climate. Emily also provided second line operational risk oversight of Consumer Bank and centralized functions. Emily began her career at Fifth Third as a Learning Facilitator supporting Retail.
Moderator
Jim Costa
Chief Risk Officer
Banner Bank
James Costa is Executive Vice President and Chief Risk Officer of Banner Bank. In this role, he is responsible for overseeing the company’s risk and compliance functions as well as the Bank’s interactions with industry regulators. He is also a member of the Bank’s Executive Management Committee.
Prior to joining Banner, Costa served as Chief Risk and Chief Credit Officer for TCF Financial a regional bank where he managed all credit and risk functions as well as operations. At TCF Jim managed the enterprise integration of the merger equals between Chemical Bank and TCF. Prior to TCF, Jim held executive leadership positions in risk, credit and lines of business as EVP at PNC Financial and Head of Enterprise Credit Strategy at Wachovia Corporation, now Wells Fargo. Jim has been active in financial services for almost 30 years with focus areas including enterprise strategy credit risk, and regulatory relations.
Jim earned his bachelor’s degree from Ohio State University and conducted his doctoral studies from the University of Minnesota. Jim is a veteran of the US Air Force. In Minnesota, Jim is active in community organizations to include Habitat for Humanity, Humane Society and The University of Minnesota Center for Children’s Cancer Research. Jim is also an advisory board member for the Midsize Bank Coalition of America.
MOVING BEYOND JUST CLIMATE
12:00 - 1:15pm
- Exploring the wider risks associated with environmental concerns beyond climate risk
- Benchmarking progress and focus of the S and G
- Understanding the social risks associated with current business risk categories
- Managing the reputational risk associated with climate and ESG
Panelists
May Hu
Head of Counterparty Risk Exposure
Capital One
Kevin Clarke
Executive Director of Group Regulatory and Governance
UBS
Erin Komorowski
Director of ESG and Sustainability
M&T Bank
Jennifer Sullo
Managing Director of Asset Management and Investment Solutions
Earth Finance
Jen Sullo is Managing Director of Asset Management and Investment Solutions at Earth Finance. She brings significant expertise integrating sustainability into portfolio construction, investment, and due diligence processes as well as creating tailored, client-specific sustainable investment funds for private wealth and institutional investors – including corporate retirement plans, insurance reserves, non-profit investment portfolios, and financial intermediary platforms. Prior to Earth Finance, Jen was Global Head of Sustainable Investing Solutions at Goldman Sachs Asset Management where she was responsible for sustainable investing strategy, product development, and partnerships. She graduated from Fairfield University with an M.S. in Finance and from Trinity College with a B.S. in Economics.
Kirby Brendsel
Vice President ESG and Sustainability Director
Flagstar Bank
Kirby Brendsel is Flagstar Bank’s VP, Environmental, Social, & Governance (ESG) and Sustainability Director, where he leads Flagstar's strategic sustainability and initiatives and the company's goal to be a recognized global sustainability leader. He is coming from Welltower Inc.’s (a real estate investment trust) where he headed their award-winning strategic sustainability and ESG initiatives. Prior to joining Welltower in 2019, Mr. Brendsel worked at Nuveen as a Director of Responsible Investing. Before Nuveen, he served as Associate Director of Sustainability for Starwood Hotel & Resorts Worldwide, where he supported the strategy, integration and management of Starwood’s sustainability program and worked collaboratively with the community programs/Starwood Foundation team on CSR (Corporate Social Responsibility) strategy and reporting. Previously, Mr. Brendsel consulted for Deloitte where he assisted in the creation of Deloitte’s Federal Sustainability practice and Diversity & Inclusion program. Mr. Brendsel’s other past roles include active-duty service as a Military Intelligence Corps Major in the U.S. Army.
Mr. Brendsel graduated with distinction and honors from the College of William and Mary with a B.A. in Business and the Jones Graduate School of Management at Rice University with an M.B.A. He is a certified Project Management Professional (PMP) from the Project Management Institute (PMI), U.S. Green Building Council (USGBC) LEED Green Associate (GA), and Lean Six Sigma Yellow Belt. Mr. Brendsel was recently recognized as an Honoree for 2020 by Environment + Energy Leader’s annual "best of" list of environment and energy professionals - the E+E 100.
Mr. Brendsel is active in his local community, where he has served on the Board of Directors of the Aspetuck Land Trust and Lachat Town Farm Commission as well as on the Town of Weston’s Sustainability Committee, Historical Society, and Conservation and Parks & Recreation Commissions.
Moderator
Nosa Omoigui
CEO and Founder
Weave.AI
Nosa Omoigui is the CEO and founder of Weave.AI. Prior to Weave.AI, he led machine learning and personalization teams at Amazon. Nosa also held a senior role at Microsoft Research (MSR). Nosa has a total of 23 granted patents and over 50 pending patents on various areas of technology, including AI.
1:15 - 2:30pm
Closing lunch and networking
Monday, 8 May, 2023
PRE-EVENT WORKSHOP
This half-day workshop will present invaluable insights and facilitate practical discussions for the application of model risk management best practices into a climate risk management framework within your institution.
Through insights from Deutsche Bank and Deloitte, attendees will:
Understand the definition and discovery of models related to climate risk.
Explore how to develop effective climate model validation practices.
Review suggested approaches and key challenges faced in climate model risk management.
Determine how to effectively integrate model risk management best practices within a climate risk management framework in your institution.
Lead by
Lily Gawrych
ESG Lead Validator, Model Risk Management
Deutsche Bank
Lily Gawrych is the Lead Validator for the ESG modeling area at Deutsche Bank. Her other areas of focus within Model Risk Management include CCAR and qualitative review & challenge. She has previously worked in Treasury Modeling & Analytics and Risk Transformation at DB, and also has experience at a regulator and in external audit. She is certified as a SCR, FRM, and CPA, and serves on the US Board of a non-profit NGO based out of Brazil – Iracambi - focused on the preservation, restoration, and conservation of the Atlantic Rainforest. She has a 1 year old son and 2 dogs that keep her on her toes.
Michael Monaco
Senior Manager, Model Risk Management
Deloitte & Touche LLP
Michael Monaco has been a member of Deloitte’s Model Risk Management group for 11 years. He has institutions across industries and sectors, with a focus on large US and international banking organizations. Michael has led some of Deloitte’s largest and most complex model development, model governance, and model validation engagements covering a diverse set of models including credit risk, market risk, operational, risk, derivatives pricing, cyber risk, CCAR and Basel. Michael is a leader in Deloitte’s Climate Modeling practice, where he has experience serving clients with engagements focusing on Climate Scenario Analysis, Climate/Credit Integration, Carbon Accounting & Financed Emissions, and Climate MRM Governance.
Deloitte
Website: https://www2.deloitte.com/us/en/pages/financial-services/topics/climate-risk-management.html
About Deloitte:
Delivering a higher bottom line
How do you meet the evolving expectations of customers while improving profitability and balancing regulatory change? Deloitte’s specialists across risk management, strategy, operations, technology, tax, and audit can help you navigate the shifting landscape of a human-centered economy.
Thought leadership:
Climate Change and Financial Risk Digest | Deloitte US
Financial services opportunities from climate change | Deloitte Insights
Embedding climate risk into banks’ credit risk management | Deloitte Insights
2:30-2:45pm
Break
3:45-4:00pm
Break