Agenda SG

Dr. Frederick Shen is Senior Vice President and Head of Business Management for Global Treasury, OCBC Bank, leading to strengthen the infrastructure, processes, monitoring and analytics to tackle the increasing regulatory and risk requirements, all the while enabling the Treasury business for strategic growth in countries we currently operate in and for the future. He also leads the Treasury FinTech strategy employing new and innovative technology solutions to deliver Treasury products to clients and to enhance productivity and efficiencies within the organisation. Fred re-joined OCBC in mid-2013 from Emirates NBD, Dubai, where he headed up the Group Market Risk unit. Prior to the Middle East assignment, he was with OCBC Bank Market Risk for 3+ years, and appointed its Head of Market Risk in 2011.

Fred started his career as a Professor of Finance at the University of Waterloo, Canada, before joining the financial industry, starting with global risk oversight of the financial engineering trading group at RBC Capital Markets. With over 25 years in the financial industry, his extensive experience includes assignments with various financial institutions and specialisations, including structured credit and real-asset securitizations at a privately held investment bank, Head of bank-wide economic/risk capital and risk modeling/analytics at Bank of Montreal, and Head of life insurance and asset management risk management at Manulife. Fred has a PhD in Financial Economics.

Henry is the Asia IBOR Transition Program Lead at ING, coordinating the transition across wholesale banking, group treasury, lending, as well as IT, compliance, legal, risk, finance and among other divisions.

His role also includes facilitating operational readiness, system enhancements, product approval reviews, client outreach, contract repapering and other workstreams. Henry has more than 10 years of banking experience in project management and project leading roles, covering various types of projects from technology and service re-engineering to business initiatives and regulatory change projects

Jeffrey Duan is a trader based in HK responsible for pricing, risk managing and hedging collateralized counterparty risks and the bank’s own funding risk in Asia.  He joined Deutsche Bank London office in 2006 and subsequently worked as quantities credit risk manage and a CVA trader.  Prior to that, he worked in various credit risk and market risk management roles with CIBC and HSBC in North America and China respectively.

Mr. Duan holds a Master degree in Business Administration from University of Toronto, Rotman School of Management and a Bachelor degree in Mathematics from Fudan University, China.   He is a CFA Charter holder.

24 years of work for the Financial industry through associations or banks.

Spécialisations : Public Policy, government affairs in EU and Asia Pacific, investment banking activities (derivatives as well as equity and fixed income and asset management), retail banking

James Ellender leads Futurum’s Asia Pacific office and has worked in the risk and intelligence fields since 2000, initially spending 12 years in law enforcement as an accredited specialist detective in a UK police force. He is highly experienced in developing covert and conventional investigation tactics, leading complex financial crime and fraud investigations, and in the design and delivery of training courses.

In the past ten years across Asia and the Middle East James has worked with many diverse organisations, institutes and agencies which include: the Indonesian, Brunei and Qatari Governments, various regulators across both regions, multi-national organisations which include Langham Hotels International, and supporting Deloitte China in ‘Crisis Management and Cyber Risk’ capacity building.

Holding a Master of Science in Risk, Crisis and Disaster Management from the University of Leicester, with his dissertation focused on counter-terrorism techniques which further inspired him to research areas of the evolving landscape of AML, terrorist financing methodology and compliance within banking and financial services.

He has honed his skills observing and assessing behaviours displayed by persons when they are under an elevation of stress. He regularly delivers training and speaking engagements in the areas of behavioural detection, interviewing techniques exploring the behavioural science of interviewees, along with developing intelligence and investigation strategies for organisations in financial crime, risk and compliance.

James helps develop others in making clear critical decisions during times of elevated stress; he draws on his previous experience under time sensitive pressures with limited information, or intelligence whilst as a covert lead on surveillance and undercover operations.

Jerome Mornet is Regional Head of Global Risk Analytics, Asia Pacific (GRA ASP) in HSBC’s Risk Department in Hong Kong. Mr Mornet is responsible for the credit risk models covering Wholesale portfolios for regulatory capital, stress testing and IFRS9, Market and Counterparty Credit Risk models, Financial Crime Risk models for HSBC Asia Pacific.

Prior to his current role in HSBC, Mr Mornet was responsible for the Credit Risk models for ANZ Group and also worked for various large international companies including , ING and Accenture. Mr Mornet holds a master of computer science and a master of business administration.

Balakerthy is a highly motivated, self-reliant individual with an ability to respond positively to challenges; He has proven management skills with a particular talent for performance improvement and building motivated, sustainable teams; He is adept at managing ambiguity and providing clear leadership and guidance while ensuring flexibility to include and react to new information; Effective communication skills at all levels with a strong track record of proactive change initiation.

Balakerthy has extensive experience in building and managing credit analytics functions for retail and wholesale products across different markets; He is specialized in portfolio credit risk analytics, credit decision modeling, artificial intelligence and machine learning solutions, pricing, Basel II modeling, Basel III standardized requirements and data compliance, IFRS9 ECL modeling, model governance, regulatory reporting, and Stress Testing. He has led successful interaction with regulators (e.g. HKMA, PRA, APRA, etc.), internal audit, and independent review functions on various credit risk analytics projects.

Stan is an experienced investment banking and credit rating expert, with equity capital market and corporate finance experience in Credit Suisse, Merrill Lynch and Bear Stearns, where he worked on IPO, ADR listing and convertible bond offering for Non-Japan Asian issuers. Stan also worked as the Head of Non-Japan Asia structured finance group at Fitch Ratings, where he covered securitisation, covered bonds and REIT corporate rating for Non-Japan Asian issuers.

Stan has solid and direct green finance and certification experience. Stan is involved in the rating of green and sustainable bonds issued by various Chinese issuers in the international capital market. Stan is also the Green Finance Certification Scheme Technical Committee Member of Hong Kong Quality Assurance Agency (HKQAA), where he is one of the approval members of the HKQAA green certification of the bonds issued, and loans borrowed, by Chinese and Hong Kong corporates and financial institutions. Stan is the Green Finance and Sustainability Subject Advisory Panel Member at Hong Kong Institute of Bankers (HKIB).

Stan is the Executive Committee Member of Asia-Pacific Structured Finance Association (APSA), the Admissions, Budgets & Allocations Committee Member of the Community Chest of Hong Kong, the International and Professional Examinations Business Development Advisory Committee Member of the Hong Kong Examinations and Assessment Authority (HKEAA), and the Examination Moderating Sub-Committee Member of Hong Kong Institute of Bankers (HKIB). Stan was the Member of the Mainland Opportunities Committee, the Human Capital Committee and the Talent Strategy Working Group of the Financial Services Development Council (FSDC) between 2017 and 2021.

Stan is the Professor of Practice (MIBF) of the Department of Economics at Lingnan University (LU), the Adjunct Professor (EMBA) of the College of Business at City University of Hong Kong (CityU), the Adjunct Professor of the School of Business at Hong Kong Baptist University (HKBU), the Adjunct Associate Professor of Finance at Hong Kong University of Science and Technology (HKUST), and the Honorary Institute Associate of the Asia-Pacific Institute of Business at Chinese University of Hong Kong (CUHK). Stan is also the University Career Development Committee Advisor and the Business Studies Advisory Board Member at LU.

Stan was the only arts student scoring 9As in Hong Kong Certificate of Education Examination (HKCEE) in 1989. Stan graduated with BBA in Information Systems at HKUST, MBA from University of Cambridge, and DBA from CityU. Stan completed various executive education courses including Introduction to International Taxation at HKU Faculty of Law, Managerial Psychology in Practice at CEIBS, and Artificial Intelligence: Implications for Business Strategy at MIT Sloan School of Management.

Executive Summary

• Risk Manager with 15 years global and regional experience in Operational Risk Management, new business risk management and implementing and overseeing strategic and regulatory change initiatives. 
• Experience in developing, implementing and overseeing global risk management frameworks, including leading several global transformation projects to enhance risk management frameworks, risk culture and governance.
• Deep understanding of investment banking and wealth management businesses, products and inherent non-financial risks.
• International experience with work experience US, EMEA and Asia markets and an ability to communicate, operate and influence across countries and cultures.
• Strong communication skills with senior management, regulators, internal and external stakeholders.  Periodically prepared and deliver reports to Board and Executive level management as well as articulate approach and framework to multiple of regulators.
• Track-record in establishing and communicating the value proposition and commercial relevance of a strong risk management framework to senior management and as a result drivin improved risk culture, awareness and embedding.                                                                                  

Professional Experience

Nomura Group

Global Head of Operational Risk, 2019 – present

• Design, implement and oversee the operating effectiveness of the Operational Risk Management Framework in Nomura Group’s global businesses and subsidiaries.
• Oversee global team of 50 in Japan, Asia, EMEA and Americas.
• Provide an independent assessment of Operational Risk to Nomura Group Board and senior management, including forward looking view of top and emerging risks.
• Developed the firm’s strategy and execution of a new Non-Financial Risk Framework.  Oversaw development and implementation of a new Non-Financial Risk Taxonomy, Risk Appetite Framework and roles and responsibilities across 3LOD.
• Advise and challenge senior management on operational risk exposures in their business and corporate functions.
• Develop systems, technologies and quantitative methods to improve management of Operational Risk globally.

Nomura International (Hong Kong) Limited, Hong Kong

Head of Operational Risk Management, Asia ex-Japan, 2015 – present

• Oversee and manage the implementation of Nomura’s global Operational Risk Framework in Asia-ex Japan.  .
• Oversee regional team of 7.
• Provide senior management with overview of the Operational Risk profile for AEJ. 
• Face-off to regional regulators such as HK SFC, Singapore MAS, Korea FSS and others.
• Oversee and participate in internal investigations as member of the Internal Investigation Committee.  Conduct forensic deep-dives and interviews on varied cases such as potential fraud, whistle blowing, client complaints and market abuse.

Head of New Business, Asia ex-Japan, 2018 - 2019

• Oversaw and managed the implementation of Nomura’s New Business Approval framework in Asia ex-Japan, including new product approval, significant transaction approval and reputational risk committees.
• Managed team of 6 based in Hong Kong and Singapore.
• Face-off to heads of business to challenge around key strategic risk and due diligence issues.
• Managed development of Approved Product List for internal and regulatory use.

Chief Administrative Officer Risk Management, Asia ex-Japan, 2015 – 2019

• Co-ordination and submission of annual budget and investment plans and monitoring spend against budget throughout the year. 
• Identification and delivering of cost saving initiatives.
• Preparation of presentations for AEJ CRO for regional town hall meetings, regulatory interactions and executive management. 
• Oversaw key change projects including system implementation and remediation of control issues.

Nomura International plc, London, UK

Global New Business Division COO, 2012 – 2014

• Developed the Group New Business Approval Policy covering Wholesale, Asset Management and Retail Divisions by working with group company executives such as Global CFO, CLO, CRO and business division management.   The policy was approved by the group Board and was the first group wide policy for new business approval for the firm.
• Developed a new product and complex transaction approval process for the Global Wholesale business by working with business leadership in Global Markets and Investment Banking.  Created procedures, led IT development of a workflow tool and an approved product database and developed global training.  Resulted in a globally consistent approach to new product approval and increased efficiency in approval of cross-border business.

EMEA Head of New Business, 2011 – 2014

• Implemented new product and transaction approval in the EMEA business, managing a team of 7 (1 ED, 3 VPs, 3 Associates). 
• Improved efficiency and control around the approval processes by documenting procedures and reducing bureaucracy as measured by improved turn-around times, positive feedback from business lines and reduction in operational risk events or errors as a result of new product launches.
• Led interaction with and managed regulatory audits conducted by Bank of England (PRA), UK Financial Conduct Authority, Bank of Japan and JFSA.  Successfully provided assurance to regulators of the robustness of new product approval process as measured by limited remediation points during a period when regulators were requesting external audits on all focus areas.
• Improved oversight of risk and returns of new and complex products by developing product back-testing, whereby revenue generated by products were assessed after one year.  Presented findings to regional Board and business leadership, resulting in certain non-performing businesses lines being discontinued or altered.  As a result, management was provided assurance that business lines were accountable for introducing new products, processes and operational risks to the firm. 

Senior Risk Manager, Operational Risk Management, 2009 – 2011

• Implemented the Operational Risk Framework in Global Markets and Investment Banking following acquisition of Lehman Brothers EMEA business. Worked with business line COOs and managed operational risk team of 3 individuals to develop the risk and control self-assessments by desk, implement key risk indicators and operational risk event investigation and reporting.  Operational Risk Framework was rolled-out to the businesses lines within 6 months of integration. 
• Initiated and developed reporting for monthly risk and control meetings by regional business line which reviewed the operational risk profile front to back with representatives from all corporate departments, resulting in improved ownership of operational risk.  Expanded regional meetings to global product lines by working with Global Heads of Trading and corporate departments, coordinating with regional ORM and developing a cross-regional aggregated risk profile.  Meetings were led by head of business, demonstrating ownership of Operational Risk by first line of defense.
• Created front-to-back trade process maps by aggregating information between IT, Operations, and trading.  Documented key controls and manual processes, which provided senior management with detailed view on infrastructure requirements.

Deloitte & Touche, London, UK

Manager, Financial Services Advisory, 2006 - 2009 

• Advised clients on implementation of credit, market and operational risk management frameworks; advised clients on implementation of Basel II and CRD requirements.  Clients included leading universal banks, investment banks, asset managers, hedge funds and regulators.  
• Advised on the integration of the operational risk management function with corporate security and technology risk for a leading European universal bank. Assisted in integrating Sarbanes-Oxley procedures into operational risk functions.  
• Developed credit risk policies and procedures for a US bank starting a new deposit taking and lending institution in the UK.
• Project managed implementation of transaction reporting tool for a leading Swiss investment bank.
• Assisted a European brokerage in developing counterparty, operational and credit risk management around its margin lending business.
• Developed and implemented the internal capital adequacy assessment process (ICAAP) for more than 10 banks, investment managers, securities brokers and asset managers.
• Developed a post-merger target operating model and project plan for the integration of global Compliance functions of two leading banking groups.
• Clients included UBS, Lloyds, ING, Barclays, RBS and various investment managers.

Export-Import Bank of the United States, Washington, DC, USA

International Business Development Office, 2002 - 2004                                                       

• Conducted marketing and sales activities to increase Ex-Im Bank financing in southeast Europe.  Oversaw an increase in business activity by 90% and 75% in 2002 and 2003, year on year.
• Arranged and structured and trade finance with banks, private companies, and governments.  Arranged balance sheet loans, letters of credit, secured lending, and project financing.

• Analyzed financial statements and cash flow projections to determine creditworthiness of counterparties and projects.

Rodney Gollo specialises in risk management, with expertise in emerging and frontier markets. He has international experience enhancing enterprise risk management frameworks, and currently leads the risk management function for a multinational insurance company.

He has a strong interest on the role sustainability and ESG factors have on businesses, societies and the global economy, and is a contributor to industry publications such Investment & Pensions Europe, AsianInvestor and Investor Relations Magazine. He has served as a judge for the Asia Risk Technology Awards, recognizing innovation and excellence in the financial services industry.

He is a certified European Federation of Financial Analysts Societies (EFFAS) ESG Analyst (CESGA), a CFA ESG, holds a Masters in Management and Regulation of Risk from the London School of Economics and Political Science (LSE), a Certificate in Risk Management in Financial Services from the Institute of Risk Management (IRM) and a Bachelors in Economics and Politics from The University of Sheffield.

Katriona Ho is the Head of Market Development for Credit Analytics in Asia-Pacific for S&P Global Market Intelligence - Credit & Risk Solutions. Based in Hong Kong, she manages the Credit Analytics products across APAC, including Climate-Linked and ESG Credit Solutions.  Prior to her Head of Market Development role, she was a Director in Credit & Risk Solutions and a Senior Credit Product Specialist to provide credit risk solutions, and she continues to work closely with credit risk professionals spanned across financial and non-financial corporations to design credit workflow. She is a former S&P Global Ratings Primary Credit Analyst in Financial Services Ratings Group, and she was accountable for the credit surveillances of the rated issuers and issuances in the Insurance sector.