Agenda

Agenda

Agenda

08:3008:50

Registration and refreshments

08:30 - 08:50

08:5009:00

CHAIR'S WELCOME REMARKS

08:50 - 09:00

Costas Mourselas

Senior Staff Writer

RISK.NET

Costas Mourselas is a senior staff writer on the risk management desk at Risk.net. He previously reported on derivatives at GlobalCapital. Costas has a bachelor’s degree in Philosophy, Politics and Economics from the University of York, UK.

09:0009:30

Chief Economist address: managing risks and finding yield in a turbulent economic and political environment

09:00 - 09:30

  • Placing the South African economy in a healthier trajectory – What are the key factors in improving employment levels, GDP growth and the high fiscal deficit
  • How do you assess and manage the political risks?
  • Integrating climate change, geopolitical instability and social uncertainty into your risk management framework
  • Risks in 2020 and beyond
Brian Kantor

chief strategist and economist

Investec Wealth and Investment

Founding Chairman of the Victoria and Alfred Waterfront (Pty) Ltd leading that company and the redevelopment of Cape Town’s historic harbour serving between 1988 to 2001. Chairman of Acucap Properties Ltd (ACP) .

His research programmes has focused on Monetary and Financial Economics and has published frequently and widely in the field. Perhaps the most influential work was “Rational Expectations and Economic Thought”, Journal of Economic Literature, September 1979, was translated into Japanese and Spanish.

Published books South African Economic Issues, (Juta) Cape Town, 1982 and Understanding Capitalism, (Boyers-Bowerdean) New York- London, 1996. Recently published Get South Africa Growing, Jonathan Ball Johannesburg and Cape Town, 2017

Current research interests include an analysis of modern monetary policy, corporate governance issues and the links between the rand exchange rate and the behaviour of the JSE. Other published research has involved applying economic reasoning to the risks and returns in limited over cricket.

Consulted to Volkswagen (SA) Ltd, Rightford, Searle Tripp, and Makin (later Ogilvy Mather SA) BMW SA, Investec Securities and also Investec Bank since founding. Consulted to the Federal Reserve Bank of St Louis (1979) and Smith Barney, Stock Brokers, New York 1994-1997. Worked with GT fund managers in Hong Kong and with the Fraser Institution, Vancouver, Canada in 1986.

Honours

  • Received Judges Award, Cape Times-KPMG, Business Personality of the Year Function - in recognition of role in the development of the Victoria and Alfred Waterfront for people “ who through their vision, energy and commitment are enabling quantum leap change in Cape Town” November 2006
  • SA Government Commissions
  • Member of the Competition Board (1983- 1989)
  • Advisor Margo Commission on Tax Reform in South Africa (1986)

09:3010:00

Keynote address

09:30 - 10:00

10:0010:40

Panel - solving the $350 trillion problem - how will financial markets transition from the IBORs?

10:00 - 10:40

  • What are the steps being taken to prepare for the IBOR transition?
  • Challenges in shifting derivatives contracts to a new reference rate
  • What are the proposed mechanisms to replace the rate in legacy contracts, and will they work?
Auguste Claude-Nguetsop

head of market risk

KPMG South Africa

Auguste leads the Market Risk and Quantitative Valuation team for KPMG in South Africa. He is responsible for the firm’s service offerings around Risk and Trading Book Capital, Risk Technology platforms, XVA & Derivatives Valuations. His team has deep expertise in assisting clients with structuring and valuing complex financial transactions, defining finance and risk strategic frameworks, and implementing leading trading and risk platforms.

Prior to joining KPMG in 2013, he was a Senior Director at Lloyds Banking group in London, in charge of risk measurement and capital markets transformation initiatives.  In 2007, Auguste co-founded and managed Riskwave, a niche quantitative consulting firm servicing clients in the investment banking sector such as ING, Barclays, Royal Bank of Scotland & Mizuho.

Over the past 20 years, Auguste has served clients across Africa, Middle East, Europe, UK, Singapore and Hong Kong.  He is a board member of the IMD alumni association, member of the South African Institute of Risk Management and the Professional Risk Management International Association. Auguste holds a Master of Business Administration from the International School for Management Development (IMD) in Lausanne, Switzerland. He also holds a Professional Risk Management (PRM) certification.

Graham Bruce

associate partner

True North Partners

Graham Bruce is an associate partner at True North Partners with over twenty five years of  experience as senior finance practitioner advising clients, in Europe, Africa and Asia, on all aspects of strategy, balance sheet, capital optimisation and structured finance whose clients include Standard Bank of South Africa, UBS, Commerzbank, CBA, Rabobank, Sumitomo and Barclays Group.

Prior to True North Partners, Graham was with Parker Fitzgerald as Global Head of Advisory, leading a boutique Risk consulting practice advising global banking, insurance and asset management clients on all aspects of risk including strategy, risk appetite, remediation, control review and implementation, regulatory change and the forward looking agenda.

Given Graham’s experience and focus, his project experience includes risk management, trading, structuring, investment management, portfolio management, Benchmarks, Indices, regulatory remediation and review and remediation of control environments in 1st and 2nd lines. 

10:4011:10

Clearing panel - innovations and trends in clearing and risk management

10:40 - 11:10

  • Key updates on mandatory clearing in South Africa
  • What effects has non cleared margin requirements had on the clearing landscape?
  • Will FX derivatives products move to clearing? (FX options, NDFs, cross currency swaps)
  • Changes in the initial margin model and likely implications for investors
Alex Comninos

head, PTS strategy and enablement, integrated clearing

JSE

Alex Comninos is the Head of Post Trade Operations at the Johannesburg Stock Exchange (JSE).  He joined the JSE in March 2006.  The Post Trade Operations team is responsible for clearing and settlement in the Equity, Bond and Derivative markets.  Alex is currently also care-taking the Risk team responsible for CCP risk management for JSE Clear and risk management in the Cash Equity and Bond ETP markets.

His career spans more than 19 years’ in various roles in the capital markets industry.  Prior to joining the JSE, Alex worked at Merrill Lynch (Johannesburg) and Commerzbank (London and Frankfurt).

Alex is a member of the South African Securities Lending Association (SASLA) Exco.

His qualifications include: BSc (Eng), MBA, Diploma in Datametrics and Investment Management Certificate (UK Society of Investment Professionals).

Joanne Donaghey

director of sales and relationship management

LCH

Joanne Donaghey is Director of Sales and Relationship Management, LCH. In this role, she is responsible for managing LCH customer relationships in the Nordics.

Since joining LCH in 2012, Joanne has worked to partner with customers on product development and clearing strategies, using her extensive experience in the Nordic region to contribute to multiple new initiatives and customer solutions

Prior to joining LCH in 2012 she was at SEB for 15 years where she worked in a variety of customer facing roles across derivative clearing services.

11:1011:50

Morning coffee and networking break
Speed networking- Network and build quick connections with the most influential players in the risk community

11:10 - 11:50

11:5013:10

Stream

Stream 1: Regulation and Risk Management

Panel: The road to implementation - how to stay ahead of the FRTB curve in the trading business

11:55 - 12:40

  • What is the current regulatory status of FRTB in South Africa and what are the implementation challenges?
  • Solving the FRTB backtesting and P&L attribution test puzzle
  • What are the key challenges in the identification and capitalization of NMRFs?
  • FRTB and the changing nature of business – what are the main impacts?
Bianca Ruddy

head of market risk analysis

Nedbank CIB

Bianca recently joined Nedbank CIB as Head of Market Risk Analysis. She is an experienced risk specialist with a demonstrated history of working in the banking industry, for over 18 years including 10 years’ international experience in London, New York and Hong Kong. Bianca’s roles have included various quantitative risk roles, including roles in counterparty credit risk, market risk, and derivative structuring. Bianca has also worked in the risk consulting space, assisting banking clients on issues relating to trading risk. She holds a Bachelor of Business Science honours degree specialising in Quantitative Finance from University of Cape Town, and is a Chartered Financial Analyst (CFA) charter holder.

Ahimsa Gounden

head of market risk, capital and regulatory

Absa

Ahimsa Gounden is Absa’s senior Market Risk Capital Analyst. Her primary foci are Regulatory and Economic Market Risk Capital demands of the Corporate and Investment Bank. Ahimsa previously worked on the implementation of market risk systems, policies and frameworks for the multiple Barclays Africa entities across the continent. Ahimsa holds an Honors degree in Advanced Math of Finance from the University of Witwatersrand and is a certified PRMTM.

Managing conduct risk – examining industry developments and challenges

12:40 - 13:10

  • Defining, measuring and managing conduct risk
  • Conduct risk across the first line of defence
  • What are the fundamental drivers of misconduct in the financial services industry?
  • What are the potential vulnerabilities in firm’s cultures that may lead to misconduct events?
  • Assessing the most effective strategies to improve conduct, culture and customer experience

Stream

Stream 2: Portfolio Management and Investment Strategies

Beating the market? Optimising investments with new sources of data and trading technology

11:55 - 12:40

  • How new tools and technique can optimise every stage of the investment process
  • How data sets are evolving
  • Multi-period portfolio optimisation and alpha decay
  • How to ensure NLP and other analytics tools complement and augment the work of portfolio managers 
Taming the sharks - the role of investors in corporate governance

12:40 - 13:10

  • The real costs of governance failure
  • Integrating Environmental, Social and Governance (ESG) factors into investment analyses
  • Improving “the web” of governance: Beyond the King Code
  • Capital market standards: Protecting investors, protecting the country
Andrew Canter

CIO

Future Growth Asset Managers

Andrew is an Executive Director of Futuregrowth Asset Management and the Chief Investment Officer. He provides a strategic perspective to the investment team, oversees the investment processes, sets manager mandates, monitors compliance, and reviews fund exposures and performance.

Andrew has been with Futuregrowth since 1998. He has lead Futuregrowth to be a leading Fixed Interest Manager, Responsible investor, and Developmental investor (with a range of developmental portfolios) in South Africa. Andrew came to South Africa in 1990 from the U.S.A., and during his career in South Africa he has assisted in co-founding RMB Asset Management, was a fixed interest dealer, portfolio manager, head of fixed interest, and later CIO. He has been a Director of several infrastructure and development companies with mandates ranging from toll roads, to low income housing finance and municipal finance. Andrew has been a CFA Charterholder since 1989 and was a founding Director of CFA South Africa in 1990. He is a founding member of ASISA's Standing Committee on Capital and Money Markets. Andrew undertakes public speaking and lecturing engagements, frequently on the subjects of fixed interest management, ethics in financial services, and developmental investing. He lists scripophily and travel amongst his hobbies, and he is a regular cyclist.

 

13:1014:10

Lunch and networking break
Diversity and Inclusion in Risk networking lunch

13:10 - 14:10

Join the conversation on diversity and inclusion in risk and investment management. What can you, your organisation and community do to encourage diversity in the industry?

  • Which firms are the leaders in promoting diversity of thought? How have they achieved it?
  • What are the major pitfalls? What to avoid in the bid to attract and nurture top talent
Farishta Mansingh

portfolio manager

NedBank

Farishta is an institutional sales specialist with experience encompassing derivative sales and structuring and debt capital markets. She has successfully distributed some of the largest transactions in the local debt capital markets and is also the Nedbank Syndicate lead for hard currency bonds. She holds the Financial Risk Management (FRM ®) qualification from GARP.

14:1016:10

Stream

Stream 1: Regulation and Risk Management

Harnessing the transformative power of AI and machine learning

14:10 - 14:45

  • Use cases of big data, advanced analytics and quantum computing to enhance risk management
  • How do you manage the risks associated with the application of big data, machine learning and AI?
  • Challenges of integrating a data governance structure within your organisation
Mritunjay Kapur

head of advisory

KPMG

Mritunjay is the Head of Advisory and a member of the Excom in KPMG South Africa.  He also heads the Telecom Media and Technology Sector for the EMA region.  Mritunjay has over 24 years of experience.  Prior to this role  he was a member of the KPMG India Excom since 2014, donning several leadership roles as the Head of Markets and Strategy, Head of the TMT line of Business and as the Head of Risk Consulting for the firm in India.  Mritunjay has played a key role in crisis management and business turnaround within KPMG and was also part of the firms Global Steering Committee on Risk Consulting.

During his career Mritunjay has led engagements across for ERM, Transaction services, Internal Audit Process Automation, Revenue Assurance, cost reduction, Convergence Fraud Management, Business Operations review, Strategy and Post merger Integration .  His experience pans across Telecom, Technology, Ecommerce,  Mining and Retail.  Mritunjay has alo worked on projects related to Convergence between Telecom, Technology, financial Services and Retail. Mritunjay is an expert in the Telecom sector for the firm and has been working with clients in this space since 1995.

Before joining KPMG Mritunjay was the founder CEO of a Global consulting firm, and he started his career in Arthur Andersen as an Auditor.

Mritunjay has Co-authored whitepapers in collaboration with industry bodies in the areas of, Digital Transformation, Information Communication and Technology (ICT) infrastructure, M-commerce and roadmap for Mobile Money, Cyber Security, WiMax spectrum auctions, the Audit Profession etc

Mritunjay was featured on CNBC Young Turks in 2007. He is a member of the Young Presidents Organization , Chairman of the ASSOCHAM National Council for Corporate Fraud and Internal Audit and Co-Chairman of Women Corporate Directors amongst other affiliations.

Auguste Claude-Nguetsop

head of market risk

KPMG South Africa

Auguste leads the Market Risk and Quantitative Valuation team for KPMG in South Africa. He is responsible for the firm’s service offerings around Risk and Trading Book Capital, Risk Technology platforms, XVA & Derivatives Valuations. His team has deep expertise in assisting clients with structuring and valuing complex financial transactions, defining finance and risk strategic frameworks, and implementing leading trading and risk platforms.

Prior to joining KPMG in 2013, he was a Senior Director at Lloyds Banking group in London, in charge of risk measurement and capital markets transformation initiatives.  In 2007, Auguste co-founded and managed Riskwave, a niche quantitative consulting firm servicing clients in the investment banking sector such as ING, Barclays, Royal Bank of Scotland & Mizuho.

Over the past 20 years, Auguste has served clients across Africa, Middle East, Europe, UK, Singapore and Hong Kong.  He is a board member of the IMD alumni association, member of the South African Institute of Risk Management and the Professional Risk Management International Association. Auguste holds a Master of Business Administration from the International School for Management Development (IMD) in Lausanne, Switzerland. He also holds a Professional Risk Management (PRM) certification.

Climate breakdown and financial stability – South Africa's role in assuring an energy-secure, lower-risk global climate

14:45 - 15:30

  • What are the benchmarks against which we should be measuring climate, energy and environment policies?
  • What paradigm shifts are required to end the climate crisis?
  • How best to factor in the consequences of climate change and the vital transition to a low carbon economy?
  • What are the major opportunities and risks of regulation and transparency initiatives?
  • What are the next steps in ensuring that Eskom remains operationally sustainable and relevant?
  • How can businesses maintain and increase profitability whilst driving low-carbon innovation?
  • How can institutional investors be part of the ‘’Just Transition’’ process and what role do they have as fiduciaries representing pension funds in deploying capital?
David Le Page

Co-founder

Fossil Free SA

David Le Page is a journalist, climate campaigner and co-founder of Fossil Free SA, part of the fast-growing global campaign for divestment from fossil fuels. Fossil Free SA argues that divestment is ethical, urgent, practical – and an investment opportunity. 

Panel: Industry outlook on fintechs and incumbent banks

15:30 - 16:10

  • The changing face of the financial services ecosystem
  • Strategic risk associated with fintechs challenging the status quo
  • Embracing digital disruptors – can fintechs and traditional financial services providers coexist?
  • Can the business models of firms across the financial services industry stay viable?
Sean Carr

senior vice president, senior director, sales analytics

FactSet

Mr. Sean Carr is Senior Vice President of Sales Analytics at FactSet. In this role, he leads the analytics team across the EMEA region to identify and implement FactSet's portfolio, quantitative, and risk product suites to help clients gain greater insight. Prior to his current position, Mr. Carr was the Director of Quant & Risk Strategy where he was responsible for positioning, product direct, and partnerships across FactSet's factor analytics offering quantitative analysis tools and multi-asset class risk analytics. During his tenure at FactSet, Mr. Carr has served in various leadership, sales, and strategy roles; he earned his B.A. degree in Engineering from Cambridge University.

Stream

Stream 2: Portfolio Management and Investment Strategies

Smart beta portfolio strategy – reduce risk, enhance return and deliver diversification

14:10 - 14:45

  • What is smart beta and how ‘smart’ is smart beta investing?
  • How has the market grown and where is it heading?
  • Factor portfolio construction:
  • How do you define the factor that you are tracking?
  • How do you build a factor investing portfolio?
  • How much difference can portfolio construction make?
  • Does factor purity matter?
Vladimir Nedeljkovic

chief investment strategist

Alexander Forbes Investments

Dr. Vladimir Nedeljkovic is a Chief Investment Strategist at Alexander Forbes Investments. He is an experienced business leader with a proven track record in creating and managing successful investment businesses, spanning outcomes-based solutions, structured solutions, indexation and multi-management. Notably, he has played a key role in the development of the exchange-traded funds (ETF) market in South Africa and in Africa

From 2015-2018, Vladimir headed Fund Solutions business at Ashburton Investments. This business incorporated three business lines, with over R29bn in assets under management: Off-Balance Sheet Solutions (index solutions, quantitative strategies and outcomes based solutions, multi-management and manager selection), On-Balance Sheet Solutions (structured solutions and share based lending) and Strategic Initiatives.

From 2001-2015, Vladimir was Head of Investments at Absa Capital. During his tenure there, he created and was responsible for Absa's exchange traded funds (ETF), exchange traded notes (ETN) and retail structured products businesses. Under Vladimir’s leadership, Absa had become the largest provider of ETFs in South Africa and on the African continent, with over R40bn in assets under management.

From 1998-2001, Vladimir was Head of Financial Research at Equinox Structured Products.

Prior to that, Vladimir held various academic and research positions in South Africa and offshore (Lecturer at the Department of Computational and Applied Mathematics at the University of the Witwatersrand, Consultant and Project Leader at the Image Processing Consultants and Research Scientist at the Institute for Applied Mathematics and Electronics).

Vladimir’s qualifications include a B.Sc. (Hons) and an M.Sc. in Electrical Engineering from the University of Belgrade, a Ph.D. in Applied Mathematics from the University of the Witwatersrand, an M.B.A.  from Wits Business School, and a B.A. (Hons) Psychology degree from the University of the Witwatersrand.

Initial margin - how to do it and get it right

14:45 - 15:30

  • Overview of the initial margin requirements
  • Establishing your threshold and identifying covered counterparties
  • Raising client awareness
  • Updating legal documentation
  • Selecting and implementing the initial margin approach
  • Assessing the potential liquidity impact of initial margin
  • Considering the impact on derivative pricing
  • Enhancing the collateral management operations
Garth Saunders

head, portfolio risk and regulatory relations

ABSA

Garth Saunders has 20 years financial markets experience across Front Office, Risk and Product Control, with 8 years spent in the UK at HSBC and Morgan Stanley.  He currently works at Absa Group as Head of Portfolio Management and Capital within the Market and Counterparty Risk management team.

War Games: disaster recovery and business continuity in investment management

15:30 - 16:10

In each disaster and recovery scenario, participants are introduced to an unfolding investment risk scenario and asked to consider the immediate steps they would advise their firm to take based on the information available at each stage.

 

Part I: Scenario strategizing

  • 2 minutes intro to the topic from the leader
  • 5 minutes to read the scenario
  • 20 minutes to decide the POA in your group

Part II: Presenting back

  • 3 minutes for the leader to summarise and present back the POA to the audience

Leader 2: Topic and speaker tbc

Liston Meintjes

CEO

Abercrombie Investment Management

Liston Meintjes brings both an academic and a highly experienced practitioner’s approach to asset management.

He has a Master’s degree in Mathematical Statistics from UCT and has lectured at the University of Natal and the Graduate School of Business at UCT.

After qualifying as an actuary, he joined the Investments Division at the Old Mutual where he became Manager (Investments Technology) before he left to start Foord & Meintjes, then a small asset manager.

He worked in New Zealand, both Auckland and Wellington, before returning to South Africa, to work as Chief Investment Officer, at Plexus and Metropolitan Asset Managers. Having recently being Head of Investments at Sasfin Asset Managers and as a Private Client Portfolio Manager with NVest Securities he is now an independent investment and business consultant through Abercrombie Investment Management.

He has experience in all aspects of investments, from programming computer systems for investment administration, to portfolio management and economic and company research.  He has been head of research and been responsible for investment marketing.   He has acted as an Asset Consultant and a Business Consultant, working with a number of companies in the financial services industry across a wide range of projects.

16:1016:40

Afternoon coffee and networking break
Knowledge cafes: Grab a coffee and join a table of your choice to share ideas and network with fellow industry professionals

16:10 - 16:40

Roundtable 1: Climate change – understanding and managing the risks

Roundtable 2: Digital innovation and how to make it work  

Roundtable 3: Building business resilience in the cyber age

Roundtable 4: Optimising the calculation of XVA sensitivities

Roundtable 5: Implementation and challenges of Basel III and IV in South Africa

Garth Saunders

head, portfolio risk and regulatory relations

ABSA

Garth Saunders has 20 years financial markets experience across Front Office, Risk and Product Control, with 8 years spent in the UK at HSBC and Morgan Stanley.  He currently works at Absa Group as Head of Portfolio Management and Capital within the Market and Counterparty Risk management team.

Farishta Mansingh

portfolio manager

NedBank

Farishta is an institutional sales specialist with experience encompassing derivative sales and structuring and debt capital markets. She has successfully distributed some of the largest transactions in the local debt capital markets and is also the Nedbank Syndicate lead for hard currency bonds. She holds the Financial Risk Management (FRM ®) qualification from GARP.

16:4017:00

CIO keynote: the Rand and South Africa’s investment grade status - operating effectively in the changing landscape

16:40 - 17:00

Eben Mare

head, absolute return funds

ABSA Asset Management

Eben is responsible for Absolute Return portfolio management at ABAM. Spanning a career of 30 years he has also held senior multi-asset portfolio management roles at Stanlib Asset Management and Genbel Investments. He has also held senior investment banking roles which include Treasurer at Nedcor Investment Bank, Head of Market Risk at Absa Capital and Head of Quantitative Analysis at FirstDerivatives. He holds a Ph.D. in Applied Mathematics and holds a position as associate professor of Mathematics and Applied Mathematics at the University of Pretoria.

17:0017:45

Panel - current and future strategies for risk management and investment in Sub-Saharan Africa

17:00 - 17:30

Clayton Stewart

CIO

Caleo Capital

bio coming soon

Liston Meintjes

CEO

Abercrombie Investment Management

Liston Meintjes brings both an academic and a highly experienced practitioner’s approach to asset management.

He has a Master’s degree in Mathematical Statistics from UCT and has lectured at the University of Natal and the Graduate School of Business at UCT.

After qualifying as an actuary, he joined the Investments Division at the Old Mutual where he became Manager (Investments Technology) before he left to start Foord & Meintjes, then a small asset manager.

He worked in New Zealand, both Auckland and Wellington, before returning to South Africa, to work as Chief Investment Officer, at Plexus and Metropolitan Asset Managers. Having recently being Head of Investments at Sasfin Asset Managers and as a Private Client Portfolio Manager with NVest Securities he is now an independent investment and business consultant through Abercrombie Investment Management.

He has experience in all aspects of investments, from programming computer systems for investment administration, to portfolio management and economic and company research.  He has been head of research and been responsible for investment marketing.   He has acted as an Asset Consultant and a Business Consultant, working with a number of companies in the financial services industry across a wide range of projects.

Terence Craig

CIO

Element Investment Managers

bio coming soon.

17:4517:50

CHAIR'S CLOSING REMARKS

18:00 - 18:05

Costas Mourselas

Senior Staff Writer

RISK.NET

Costas Mourselas is a senior staff writer on the risk management desk at Risk.net. He previously reported on derivatives at GlobalCapital. Costas has a bachelor’s degree in Philosophy, Politics and Economics from the University of York, UK.

17:5019:00

End of conference and networking drinks

18:05 - 19:00