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Programme
Programme
2020 Programme
08:00 – 09:00
Registration
09:00 – 09:10
Welcome remarks
09:10 – 09:30
Keynote address: Making risk management an priority in the era of transition
Tomoko Amaya
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
Ross is a Managing Director in the Financial Services division working within our Strategy team with specific focus on changes to market structure, regulation and new technology. Ross is a member of the IHS Markit IBOR Reform committee, global head of Term Risk Free Rates (TRFR) and also sits on the ARRC sub-committee working on the development of Term SOFR.
Previously, Ross served as Head of Financial Markets APAC and was responsible for leading and growing the IHS Markit business across Asia-Pacific. Ross has an accounting and OTC derivatives background and has worked extensively on regulatory impact and developing new products to meet regulatory change. Ross has over 20 years experience in the financial services industry covering cash, derivatives and alternative assets markets across a variety of roles. Ross has worked in London, Singapore and currently based in Sydney.
I am Section Head of Integrated Risk Management Division in Shinsei Bank. I am managing market risk and quantitative analysis including trading and banking book especially interest rate and FX products. Prior to current position, I was exotic derivative trader and product structurer. I have experienced market for twenty years. I am part-time teacher at Graduate School of Business and Finance, Waseda University.
Tatsuo is Managing Director and Head of Quant Team in Investment Division at Japan Post Bank since 2016, and he is a member of the ALM Committee. He is responsible for all quantitative analysis including asset allocation, front risk management and investment strategies as well as developing trading systems for the investment division. From 2018, he is also responsible for Rates and FX Department. Prior to joining Japan Post Bank, his career started with Morgan Stanley Japan in 1999 as Interest Rate Strategist after graduating from Graduate School of Waseda University with a Masters Degree in Mathematics. In 2005, he joined ABN AMRO Securities Japan, which was subsequently integrated into RBS Securities Japan, as head of Japan Research.
Tatsuo rejoined Morgan Stanley Japan in October 2009 and became head of JGB/swap trading and sales desk. He was promoted to Managing Director in 2010 and appointed Head of Japan Interest Rate Product Group. He was named Co-Head of Japan Fixed Income and appointed to a Board member of Morgan Stanley Japan Holdings in January 2013. His last role at Morgan Stanley MUFG was Head of Japan Fixed Income Trading.
While working at Japan Post Bank, Tatsuo is teaching fixed income investments and ALM strategy at Tokyo Metropolitan University where he earned PhD in Business Administration.
10:30 – 11:00
Morning break
11:00 – 11:40
Presentation: 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, fostering sound risk culture, and being prepared for compliance requirements
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
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
12:20 – 13:20
Lunch
13:20 – 14:00
Afternoon Keynote: An update on the global regulatory landscape and its local implications
Megan joined the Financial Conduct Authority (FCA) in September 2015 as Executive Director responsible for the supervision of Wholesale
Banking, Investment Management, Life Insurance and Financial Advice. Megan is also responsible for Specialist Supervision including Prudential, Financial Crime and Client Assets.
Megan was previously the Executive Director of International Banks Directorate at the Prudential Regulation Authority (PRA). She joined the Bank of England in
April 2013 as Executive Director of International Banks Directorate after moving from the Financial Services Authority (FSA).
Megan has been a supervisor since 2008, when she became Head of the Department responsible for the supervision of the UK operations of the major
investment banks. Prior to moving to supervision, Megan was Head of Enforcement Law and Policy at the FSA, and for a number of years chaired the
International Organization of Securities Commissions (IOSCO) Standing Committee 4 which is concerned with international enforcement cooperation.
Before moving to the Enforcement Division, Megan was Chief Counsel for Markets, heading the legal team responsible for advising on legal issues relating
to Official Listing, the regulation of exchanges and clearing houses, market conduct and the supervision of wholesale firms.
Megan joined the FSA in 2000. Before this, she spent several years at the London Stock Exchange in a variety of legal and non-legal roles, including Head
of Capital Markets.
Megan was called to the bar in 1987.
14:00 – 14:20
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
14:20 – 15:00
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
15:00 – 15:30
Presentation: Combating fraud and cybersecurity while safeguarding identity protection
15:30 – 16:10
Networking Break
16:10 – 16:50
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
16:50 – 17:00
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, the Coronavirus, 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?
General Manager Risk Management Department Sompo Holdings, Inc.
Mr. Koji Takahashi is General Manger of Risk Management Department of Sompo Holdings, Inc. He assumed the role in April 2018 and has been responsible for overall risk management of Sompo Group, which holds the largest Japanese P&C insurance company, Sompo Japan Nipponkoa Insurance, Inc.
He is responsible for managing whole spectrum of risks around the complex business portfolio of Sompo Group by making robust Enterprise Risk Management framework.
Prior to leading Risk Management Department, he was Managing Director of Sompo Insurance Singapore Pte. Ltd. (2016 to 2017). Before assuming Managing Director role, he was Senior Division Manager of Corporate Planning Division where he was responsible for Risk Management, Governance and Compliance of the Singapore insurer. (2012 to 2015)
His prior responsibilities also include Planning Manager at Reinsurance Department (2006 to 2012) and Aviation Underwriter at Aviation Insurance Department (1991 to 2003) of Sompo Japan Insurance, Inc.
He has a degree of MBA from University of California, Irvine (2006), and BA from Sophia University, Tokyo, Japan (1991).
17:00 – 17:00
Chairman’s closing remarks
17:10 – 17:10