Session 1: Global Economic Risks and Brexit: Current Considerations for Credit Risk Professionals (9:00am - 10:00am)
Julie Beckenstein, Deputy Head of Country Risk, Fitch Solutions
Julie Beckenstein is Deputy Head of Country Risk in the Macro Intelligence division at Fitch Solutions. She joined Fitch in 2011 as an analyst covering Latin America, before taking a role as head of the Middle East and Sub-Saharan Africa teams in 2015. She now focuses on driving the direction of global economic and political analysis, specialising in emerging markets. Prior to joining, Julie was an analyst at the UK House of Lords. Julie holds an MSc from the London School of Economics and a BA from Carnegie Mellon University.
Mark Giancola, Managing Director, Global Head of the Sovereign and Economic Risk, Goldman Sachs
Mark is global head of the Sovereign and Economic Risk Group within the Risk Division. His team is responsible for assessing country-specific as well as global macroeconomic and political risks, and for setting the firm's country limits. In addition, the team provides credit ratings advice to a number of the firm's governmental clients. Mark is chair of the Sovereign Risk Council and is a member of the Risk Governance Committee, and Securities Division Risk Council.
Before assuming his current role, Mark was a member of the sovereign risk team within Credit Risk Management in New York, Hong Kong and London. He joined Goldman Sachs in 2001 as an associate and was named managing director in 2009.
Prior to joining the firm, Mark worked as an economist at the Peterson Institute for International Economics and the US Treasury Department, and as a legislative aide in the United States Senate. Mark earned a BA in East Asian Studies from Middlebury College in 1990 and an MA in International Economics and Asian Studies from the Johns Hopkins School of Advanced International Studies (SAIS) in 1997. He is a CFA charterholder.
Bart Oosterveld, C. Boyden Gray Fellow and Director, Global Business and Economics Program, Atlantic Council
Bart Oosterveld is the C. Boyden Gray fellow on global finance and growth and the director of the Global Business & Economics (GBE) Program at the Atlantic Council. In this capacity, Mr. Oosterveld leads the Council's work on global trade, growth, and finance. Among many other things, the GBE program houses the EuroGrowth Initiative at the Council and leads the Council's work in the areas of economic sanctions, finance and trade, and provides timely commentary on macro-economic and financial market developments.
Prior to joining the Atlantic Council in November 2017, Mr. Oosterveld worked at Moody's Investors Service for almost two decades. In his most recent role as chief credit officer, Mr. Oosterveld was responsible for the credit strategy and ratings quality in the Americas across all asset classes. Between 2010 and 2014, Mr. Oosterveld served as the rating agency's global head of sovereign ratings. Among other positions, he was also chair of the company's Macroboard, its chief credit officer for governmental ratings, as well as management representative to the board of directors.
Mr. Oosterveld graduated with degrees in the philosophy of law and the history of Spanish literature from the University of Amsterdam. He holds master's degrees in public policy from Columbia University and in economics from Georgetown University. He speaks Dutch, Spanish, English, German and French.
Moderator: Michael Crumpler, Managing Director, Global Head of Contributor Relationships, Credit Benchmark
Michael Crumpler is global head of contributor relationships at Credit Benchmark. Credit Benchmark is a data analytics company that partners with the world’s leading financial institutions and collects and anonymizes credit risk data and produces consensus analytics to help better manage risk. His team manages all of the relationships with the nearly 50 global banks that currently participate in the service.
Before joining Credit Benchmark, Michael was a vice president in the Credit Risk Management & Advisory group at Goldman Sachs where he covered a diverse portfolio including natural resources and project and public finance. He also spent several years at Barclays, Dexia and Moody’s Investors Service in a variety of risk related roles.
Michael earned a BA in English Literature from the University of North Carolina at Chapel Hill and received a master’s degree in international finance and policy from Columbia University’s School of International and Public Affairs.
Session 2: To Clear or Not to Clear? Industry Trends in CCP Risk Management (10:15am - 11:15am)
Yoko Katagishi, Managing Director, Head of Counterparty Credit and Financial Market Utility Risk, Bank of America Merrill Lynch
Yoko is the head of Counterparty Risk Governance for Bank of America. The Counterparty Risk Governance team manages Central Counterparty (CCP) Risk, Indirect Compliance Coverage for Counterparty Credit Risk Laws, Rules, Regulations and Guidance, Uncleared Margin Rules (UMR) governance, Counterparty Model Use Test, Counterparty Credit Risk Policies and other non-standard terms, process, remediation related to Counterparty Credit Risk Management.
Yoko joined the Bank in 1996 in London, as the Head of Credit Risk for Asia. After the merger with NationsBank and Bank of America, she became the Head of EMEA Financial Institutions Credit Risk Management.
In 2005, Yoko was transferred to New York to become the Global Head of Financial Institutions Credit Risk Management overseeing credit approvals for Banks, Asset Managers, Non-banks, and Insurance companies for all credit risk types.
In 2007, Yoko became the Head of Market Risk for Global Equities which allowed her to broaden her Global Markets Risk experience.
In 2009, after the merger with Merrill Lynch, she assumed the role of Global Counterparty Risk, overseeing the integration of counterparty credit risk governance and policies as well as credit approval of non-standard transactions for FICC and Global Equities.
In 2013, Yoko assumed the role of Head of Product Risk and Market Risk for Global Wealth and Investment Management. In this role, Yoko was responsible for overseeing risk for products and services offered to Merrill Lynch Wealth Management, U.S. Trust and Merrill Edge. Yoko also managed client market risk and investment risk.
In April 2016, Yoko returned to Global Markets Risk in her current capacity.
Before joining Nationsbank, Yoko worked at Swiss Bank Corporation (currently UBS), Tokyo Branch as a Credit Analyst.
Yoko graduated from Keio University in Tokyo, Japan with a Bachelor degree in Political Science.
Thierry Grunspan, Director and Lead Analyst - Financial Institutions Ratings, S&P Global Ratings
Thierry Grunspan is a Director and lead analyst on Financial Markets Infrastructures, securities firms and hedge funds at Standard & Poor’s. He has co-founded S&P Global’s in-house capital model for financial institutions (the Risk-Adjusted Capital Framework). Thierry has worked previously as an on-site risk-examiner for the French Banking Commission. He holds a PhD in Economics from Columbia University (New York).
Lauralyn Pestritto, Managing Director and Head of Counterparty Risk Management, AQR Capital Management, LLC
Lauralyn Pestritto is a Managing Director and Head of Counterparty Risk at AQR Capital Management, LLC. Lauralyn joined AQR in 2007 and is responsible for assessing and monitoring the creditworthiness of the firm’s trading partners and clearing organizations with the aim of protecting the firm and its clients from losses due to a counterparty failure or related event. She is also responsible for facilitating credit information flow to AQR’s counterparties on an ongoing basis and maintaining credit relationships. Prior to AQR, Lauralyn was a Vice President in the Credit Department at Amaranth Advisors, LLC. Earlier, she worked at UBS and AIG Trading Group in the Counterparty Risk departments. Lauralyn is a former Board member and Co-Chairman of the Capital Markets Capital Analysts Society and a former Board member of The New York Chapter of the Risk Management Association. Lauralyn earned a B.A. in International Economics and Politics from Gettysburg College and an M.B.A. from ESADE in Barcelona, Spain.
Moderator: Arthur Laichtman, Managing Director, Risk Control, UBS AG
Arthur E. Laichtman is a Managing Director in Risk Control at UBS AG, where he serves as the America's Head of Counterparty Risk responsible for North and Latin American financial institutions. He is also responsible for the risk control of the corporate derivatives portfolio, and is globally responsible for the control of UBS' CCP risk. In addition, Mr. Laichtman is the Entity Risk Officer for the US broker-dealer, UBS Securities LLC.
He sits on various committees including the Americas Risk Control Executive Committee, the IB Americas Management & Risk Committee, the Ratings Supervisory Committee, and the UBS Securities LLC ALCO. Mr. Laichtman currently sits on the DTCC Risk Advisory Committee and is a former member of the Eurex EMIR Risk Committee. He is a former Board member of the Capital Markets Credit Analyst Society, and active in various industry working groups, roundtables, and panels. Prior to UBS, Mr. Laichtman was employed by Kidder Peabody and The Bank of New York in various risk and internal auditing roles. Mr. Laichtman received a B.Sc. in Finance from Binghamton University and an MBA from New York University.
Session 3: Blockchain in Financial Services and Beyond (11:30am - 12:30pm)
Scott Grayson, Senior Vice President, Enterprise Sales, AlphaPoint
Scott leads AlphaPoint’s Enterprise Sales team, and brings over 25 years of sales leadership in the Financial Services Technology Industry. Prior to AlphaPoint, Scott was Chief Sales Officer at R3, a Blockchain platform company. Prior to R3, Scott was responsible for leading global sales teams at firms including Charles River Development, SAP, Algorithmics and NumeriX. Scott was also an equities and options trader and began his career with 12 years in banking at Bankers Trust Company (Deutsche Bank) and Bank of America in sales and marketing of cash management and risk management products and services. Scott holds a Bachelor of Science Degree in Accounting from Lehigh University.
Sunil Challa, Director, Group Strategy, Barclays
Sunil Challa is a Capital Markets specialist with an emphasis on cross product strategy and business architecture. In his current role at Barclays, Sunil leads efforts to rapidly frame the impact of high-value commercial, regulatory, and industry initiatives and ensure alignment of investments with strategic roadmap. He currently leads the firm’s efforts on transition to alternate reference rates and adoption of emerging technologies for post-trade efficiencies. Prior to this role, he has several years’ experience as a product manager for Equity Derivatives and Fixed Income products at Barclays, Lehman Brothers, and Bank of America.
Mr. Challa’s an active member of the Barclays Rise and Accelerator programs to help promote fintech adoption in financial services. He holds a master’s degree in finance and strategy from New York University, Stern School of Business.
Medio Demarco, Co-Founder, Delphi Digital
Before co-founding Delphi Digital, Medio was an Associate in Deutsche Bank’s risk department. His responsibilities included assessing derivatives exposure, legal negotiations, structured financing transactions, and non-recourse equity loans for the bank’s hedge fund clientele. Prior to working at Deutsche Bank, Medio was an Analyst at Bloomberg L.P. covering U.S. corporate bonds and Treasuries. Medio has a bachelor's degree in supply chain management and has also passed Level II of the CFA exam. Series 79