RiskTech: New Opportunities in Treasury, Risk and Compliance Technology

RiskTech: New Opportunities in Treasury, Risk and Compliance Technology

RiskTech: New Opportunities in Treasury, Risk and Compliance Technology

Course chair: Eric Wolfe, former Deputy Managing Director, Funds Management and Banking Department, Bank of Canada

 

Tuesday - 21 May 2019

The Payments Revolution in Focus

The evolution of risk management in central banks

Eric Wolfe, former Deputy Managing Director, Funds Management and Banking Department, Bank of Canada

  • Evolution of the risk management function in central banks
  • Overview of the emerging risks in 2019
  • Key components of a robust and responsive risk management framework
  • Discussion: What is the role of the risk management department in a modern central bank?

RiskTech: making the most of disruptive innovation

Evangelos Tabakis, Head of Risk Management & Compliance, The Central Bank of the United Arab Emirates 

  • The state of the art of RiskTech
  • Impact of disruptive innovation on risk management frameworks and strategies
  • Overview of key technologies in the areas of DLT, Big Data analytics, Machine Learning and Cloud Computing
  • Discussion: What does it take to manage innovation?

Case study: utilising automation and smart tools for greater efficiency

Eckart Koerner, Chief Risk Officer, Clearstream

  • Examples of RiskTech applications for governance and compliance procedures
  • Overview of smart tools for a more effective detection, management and containment of different types of risk
  • Tips for making the most of the new opportunities in the area of robotics
  • Discussion: How to manage the key risks of RiskTech?

Wednesday - 22 May 2019

Applications of RiskTech across Front, Middle and Back-office Functions

Institutional restructuring: new roles and responsibilities in risk departments

Rajosik Banerjee, Partner and Head Financial Risk Management, KPMG India

  • Evolution of the institutional organisation of risk management departments in central banks
  • Overview of new roles, functions and responsibilities
  • Tips for successfully integrating new (technology based) tools and practices into existing frameworks
  • Case study: Reforming the risk management department at the Reserve Bank of India

Applications of Blockchain and DLT for better data management

Giuseppe Del Vecchio, Associate Researcher, The Boston Consulting Group (BCG) (invited)

  • Key features of effective data management frameworks and strategies
  • Overview of the DLT-based APIs (Application Programming Interface) and software platforms for data collection, processing and analysis
  • Implications, challenges and opportunities for the work of risk managers
  • Tips for effective management of sensitive issues in the areas of security standards and confidentiality

Using Machine Learning in portfolio techniques and treasury operations

Sidhartha Dash, Research Director, Chartis Research 

  • The state of the art of Artificial Intelligence and Machine Learning
  • Overview of the key applications in the official sector and central banking
  • Impact, risks and opportunities for treasury operations and risk metrics including counterparty concentration
  • Examples of Machine Learning based models and techniques for portfolio construction and optimisation

Making the most of Big Data analytics in trading, risk and liquidity management

Sidhartha Dash, Research Director, Chartis Research 

  • Evolution of Big Data analytics
  • Overview of applications for effective management of different types of financial risks
  • Examples of Big Data based trading platforms
  • Case study: Using Big Data to monitor liquidity and visualise risk concentration

Sourcing technology solutions: how to blend industry and in-house – panel discussion

Jelena Jankovic, Head of Risk Management Department, Central Bank of Montenegro and Eric Wolfe, former Deputy Managing Director, Funds Management and Banking Department, Bank of Canada

  • Overview of areas where central banks need technical agility
  • Examples of strategies, frameworks and indicators to assess suitability and needs of technological toolkit
  • Tips for selection and coordination of in-house solutions with the outsourced ones
  • Hands-on exercise: Building a framework for cost-benefits analysis

Thursday - 23 May 2019

Emerging Risks in Focus

Identifying and managing non-financial risks of disruptive innovation

Ardian Fullani, former Governor, Bank of Albania

  • Overview of key operational, legal and ethical risks associated with disruptive innovation
  • Examples of frameworks and strategies for effective management of non-financial risks
  • The role and potential of RiskTech solutions
  • Discussion: How to integrate innovation into risk culture?

Building-up the resilience of a digitalised ecosystem: identification and containment of cyber risks

Ed O’Neill, Assistant Vice President, Secure Payments Team, Federal Reserve Bank of Chicago 

  • Overview of key financial, legal and operational risks for infrastructures based on computer systems and digital information
  • Examples of systemic implications of successful cyber attacks
  • Key features of effective cyber resilience frameworks and strategies
  • Hands-on exercise: Detecting anomalies in cyber networks

What are the implications and opportunities of central bank digital currencies (CBDC) for markets and portfolios?

Speaker from the Bank of England

  • Differences and overlaps between privately issued crypto assets and central bank digital currencies (CBDC)
  • Overview of the key CBDC projects across the globe
  • Implications for the work of risk managers at central banks
  • Opportunities and challenges for reserve management frameworks and strategies

Friday - 24 May 2019

RiskTech and Strategic Planning: Mutual Enablers

Risk management: cost or investment?

Speaker from the Bank of England

  • Overview of “traditional” resourcing strategies for the risk management function
  • Examples of frameworks to effectively manage the needs of competing departments and develop an across-the-bank view
  • Tips for generating buy-in from leadership groups and the board
  • Hands on exercise: Performance review of a central bank’s risk management strategy and budget

Workshop: what next for risk management?

Jelena Jankovic, Head of Risk Management Department, Central Bank of Montenegro

  • Key expectations in relation to the risk management functions for 2020 and beyond
  • Trends and dynamics of roadmaps and frameworks helping to adjust the medium and long term strategy
  • Challenges and opportunities for leaders
  • Hands on exercise: Building a risk management framework for 2020

Chair’s conclusions and delegates’ action points

Led by the chair, Eric Wolfe

  • Summary of the training course
  • Discussion of the observed trends and case studies
  • Application of learning points in the delegates’ home organisations
  • Preparation of action points