CMCAS Presents:

CCP Risk - What's Clear and What's Not?



Date: Wednesday, November 2, 2022

Time: 12:00pm - 1:00pm ET 





Join us at lunchtime for a panel featuring industry experts discussing the current state of clearinghouse risk, the impact of recnet market volatility and the changing regulatory environment. 


Confirmed Speakers:


Lee Betsill, Managing Director and Chief Risk Officer for CME Clearing

Lee Betsill serves as Managing Director and Chief Risk Officer for CME Clearing.  He is responsible for advancing the company’s risk management framework, including all associated procedures, policies and controls and is also the clearing house’s Enterprise Risk Officer.  Previously, he served as Managing Director, Global Clearing Operations and as Chief Executive Officer of CME Clearing Europe (CMECE) before relocating to Chicago. He is also an Executive Committee member of CCP12, the Global Association of Central Counterparty Clearing Houses, and served as Chairman of the association from 2016 to 2018, overseeing its incorporation and full-time staffing. In addition, he serves on the CFTC’s Markets Risk Advisory Committee, co-chairing the Sub-Committee on CCP Risk & Governance.


Prior to joining CME Group in 2010, Betsill served as Managing Director of EDX London, of the London Stock Exchange, having joined in 2002.  Prior to that he served as head of clearing and operations at OMX in Stockholm and London.  His first job was on the trading floor of the Chicago Mercantile Exchange. 


Betsill holds a bachelor’s degree in finance from the University of Wyoming, and currently serves on the university’s Foundation Board as part of the investment oversight committee.  He also holds a master’s degree in international management from the American Graduate School of International Management.


Joseph Garelick, Risk & Quantitative Analysis Group, BlackRock

Joseph Garelick is a member of BlackRock's Risk & Quantitative Analysis Group. He is responsible for managing all aspects of counterparty risk, with a primary focus on managing end-investor risks in cleared markets. In that capacity he is responsible for assessing, quantifying and monitoring risk to central counterparties. Prior to assuming his current role, he worked in Derivatives Operations where he focused on OTC derivatives. He earned a BS degree in Finance and Management from New York University's Leonard N. Stern School of Business.


Giles Edwards, Senior Director, Financial Services Ratings: EMEA, S&P Global Ratings

Based in London, Giles Edwards is joint Sector Lead for European financial institutions (FI) at S&P Global Ratings. 

As Chair of the EMEA analytical oversight council, Giles’s principal role is to ensure analytical consistency in the credit ratings in the FI sector. The key external parts of this role are to lead surveillance meetings with issuers, engage with investors and other market intermediaries, and to publish cross-sector research. 

He also leads the European working group on bank resolution frameworks, and the global industry focus team for the financial market infrastructures sector.

Prior to joining S&P Global Ratings in 2007, Giles was a senior analyst at the Financial Services Authority, where he worked principally on the supervision of overseas banking groups, encompassing corporate and investment banks, custodians and asset managers.


Rogier van Kempen, Executive Director, Americas Central Counterparty (CCP) Credit Risk and Strategy, JP Morgan

Rogier van Kempen is an Executive Director and leads the Americas region for Counterparty Credit Risk and Strategy within JPMorgan. This team manages J.P. Morgan’s credit risk with respect to its global CCP memberships. In doing so, it advocates for a stable and resilient clearing environment by developing best practices with and for CCPs through interaction with CCPs directly, industry efforts and relevant regulators.

Rogier is based in New York and has served on several CCP risk advisory committees representing J.P. Morgan. In addition he is a frequent speaker at industry events on the topic of CCP risk.

Prior to his current position in New York, Rogier worked for J.P. Morgan credit risk in London (’19 to ’21) and Singapore (’14 to ’19), while for previous product development roles he worked in Latin America, Moscow and Amsterdam.

Rogier holds both a J.D. in international taxation and a J.D. in business law, both from the University of Maastricht, the Netherlands.



Michael Macchio, Head of Americas Clearinghouse Risk, Goldman Sachs

Michael Macchio is head of Americas Clearinghouse Risk, leads Goldman’s advocacy efforts and provides global oversight of CCPs as a key member of the Clearinghouse Risk Council. He has additional counterparty risk oversight of Natural Resource companies in North America, and leads the underwriting of bespoke structured equity financings. Michael has a BA in Economics from Pace University and is a CFA Charterholder. 

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If you join today, membership is valid until December 31, 2023.


Cancelation Policy: Fee refunded with cancelation until close of business day by Tuesday, November 1, 2022.

Cancelations subsequent thereto and no-shows are liable for payment.