08:00 – 09:00
09:00 – 09:10
09:10 – 09:30
Keynote address: Making risk management an priority in the era of transition
Vice Commissioner for International Affairs
Financial Services Agency (FSA), Government of Japan
Ms. Amaya is Vice Commissioner for International Affairs at Japan’s Financial Services Agency (JFSA) since July 2019. She is a member of the Basel Committee on Banking Supervision (BCBS), representing the agency. She is also engaged with the Financial Stability Board (FSB) and represents the agency at the Resolution Steering Group (ReSG). She also contributes to regional cooperation among bank supervisors as Vice Chair of the EMEAP Working Group on Banking Supervision.
Ms. Amaya joined the Ministry of Finance (MOF) in 1986 and has broad experience in financial supervision and international financial regulations over her career at FSA and MOF. Prior to the current position, she served as Deputy Secretary-General of Securities and Exchange Surveillance Commission (SESC) (2017-2019) and Secretary General of Certified Public Accountants and Auditing Oversight Board (CPAAOB) (2015-2017). Her career at JFSA also includes Director for Market and Risk (2008-2010) and Director for International Insurance Services (2002-2006). From 2013 to 2015, Ms. Amaya served as Senior Executive Director at Deposit Insurance Corporation. She was also Visiting Professor at Graduate School of Public Policy, the University of Tokyo in 2011-2013.
Ms. Amaya earned B.A. in Law at the University of Tokyo. She also finished Mid-Career Associate Program, IR/PS at the University of California, San Diego.
09:30 – 10:10
Panel: Rethinking and refocusing on risk management functions
- Counter party credit risk, market risk, and liquidity risk – how are local market participants coping?
- Emerging risks as a result of digital transformation – fintech solution providers
- The big squeeze on bank margins – what’s the stance of the banks?
- Risk managers/back-end business vs front-end business – balancing risk and return
- The importance of Non-financial risk
10:10 – 10:30
Panel: Time to move on! The Libor transition
- Transitioning from LIBOR OTC Derivatives to Risk Free Rates (RFR), understanding the adaptation challenges for market participants
- Monitoring liquidity risks (PE and Private assets)
- Valuation and risk management challenges – transitioning legacy contracts
- The Repo-market turmoil and the concerns raised about the new benchmark rate
10:30 – 11:00
11:00 – 11:40
Presentation: Accessing Japan’s readiness for the next stage of FRTB
- The role of the Standardized approach with respect to the market risk framework
- Looking at the internal model approach - P&L attribution and non modellable risk factors
- Potential challenges with implementing FRTB – capital optimization, avoiding divergence, and time constraints
11:40 – 12:00
Presentation: Governing Non-financial risk (NFR) in today’s complex and competitive environment
- Addressing overall governance on NFR
- Fostering a sound risk culture from within – promotional strategies for local regulators and market participants
- Essential applications of the three lines of defence for Enterprise Risk Management
- Tightening AML/CFT measures – what are some of the solutions that can Japan consider?
12:00 – 12:20
Panel: Operational resilience and operational risk - “what is going to break you?”
- Preparing, responding, and remediating a crises – are we testing enough?
- KRIs and KPIs – does your organization have a comprehensive view of its maturity and uplift program?
- Dealing with disaster recovery
- Minimizing operational risk by managing people (human errors), IT, organizational structure, and fostering compliance
12:20 – 13:20
13:20 – 14:00
Panel: The latest developments on Japan’s insurance industry
- The introduction of the Insurance Capital Standard (ICS) – what does this mean for the Japanese market?
- The new IFRS 17 insurance accounting standard explained
- FSA to potentially introduce an economic valued based solvency regime – how likely will this become a reality?
- Japan’s aging population and the insurance industry’s strategy to combat this issue
14:00 – 14:20
Presentation: The new Credit Value Adjustment (CVA) framework and mitigating XVA challenges
- Diving into the new CVA capital framework: FRTB – CVA
- CVA and the recognition of hedges
- XVA challenges – dealing with legacy technologies
14:20 – 15:00
Panel: A non-negotiable – ESG and climate related risk management
- Updates on Japan Credit Rating Agency’s (JCR) Green Finance Framework Evaluation
- Evaluating EU ETS’ sub-national system in Japan and its effectiveness for risk management
- Incorporating ESG into your CSR, investment, and overall risk management strategy
15:00 – 15:30
15:30 – 16:10
Panel: ML and automation – opportunities and challenges
- How can risk managers tap into AI and Robotic Process Automation (RPA) technologies to automate their operations?
- Leveraging ML and big data to reduce operational costs and enhance returns
- Data quality considerations and limitations for big data and Machine Learning – what you need to know
- Empowering technology to supplement and/or replace the auditing process
- The lack of internal quant talent and how it affects the effective use of ML
16:10 – 16:50
Panel: Gazing into the future and analysing emerging risks that will affect the Japanese market
- The impact of low interest rates on Japanese bank, what is going to happen in the next 12 months?
- The global geopolitical landscape – how will Brexit, Trump’s impeachment, US-China trade war, U.S elections, Hong Kong anti-extradition protests, and US–Japan trade deal impact local market participants?
- Digital currency risk – how can Japan prevent cybersecurity and technological threats and cases like the Bitpoint incident from happening again?
16:50 – 17:00
Chairman’s closing remarks
17:00 – 17:00