Building on the success of our first FRTB roundtable discussion held on December 9, 2020, we are offering a very select group of bank dealers the opportunity to explore in greater detail the impact of FRTB on their operations, finance, technology, and overall business model.
The pressure to complete external and internal readiness assessment is increasing as we approach the first milestones on the new FRTB calendar. Banks must be prepared to maximize operational resilience to ensure that their businesses have the capacity to withstand the FRTB impact and adapt to the ensuing changes. External and internal assessments must be made as soon as possible to test your business’ capacity to withstand shocks to your operations and business lines that will need to become more adaptable.
Our next roundtable discussion will take place on April 7th. The discussion will be led by a panel of industry experts and leaders, and we will explore the crucial elements of collaboration between multiple internal and external stakeholder groups to extract and map the FRTB data and address the heightened demand for shift in new workflows and processes. The connected networks between trading desks, operations, and finance, will require that we bring an end to the existing silos that are limiting modellization. Participants will hear from frontline actors about expected changes that need to occur to minimize operational losses as further FRTB challenges arise. Finally, our panelists will share their views on other exogenous and endogenous factors that will need to be considered as your bank embarks on its FRTB transformation journey.
About Our Panelists:
Ross Killian is a Managing Director in Royal Bank of Canada’s (RBC) Business Transformation Group within Capital Markets where he heads the Trading Book Modernization and Fundamental Review of the Trading Book (FRTB) programs.
Mr. Killian has 20+ years in capital markets risk, technology, and quantitative analytics where he led financial engineering and technology teams, and also served as Chief Risk Officer for a broker dealer in Stamford, CT. He joined RBC in the spring of 2018 from the Federal Home Loan Mortgage Corporation where he was a Senior Director in the Investments & Capital Markets division. Prior to these roles, Mr. Killian was an Executive Director at Morgan Stanley, working as a desk strategist in Securitized Products, and he also spent 14 years at RBS Greenwich Capital where he was a Managing Director and Head of Financial Engineering.
Mr. Killian earned his BA in Economics from Yale University and his MBA from Duke University’s Fuqua School of Business.
Marlene Lenarduzzi has over 20 years banking experience and is currently Head of Counterparty Credit Risk Management, Strategic Initiatives and Market Risk at BMO Financial Group. She oversees operations, risk quantification, strategy development, planning and execution across Counterparty Credit Risk Management and Market Risk which includes the bank’s FRTB implementation. She served as Interim CRO for BMO Ireland, Head of Model Validation, Vice-President North American Business Services for BMO Financial Group, and Vice-President Canadian Consumer Credit Risk Enterprise Risk and Portfolio Management for BMO Financial Group.
Ms. Lenarduzzi began her career in analytics for credit cards at BMO and has assumed progressively senior credit risk analytics roles including the Consumer Portfolio Management Group within P&C Risk where she was responsible for improving Basel II Risk Quantification and Validation.
She holds a bachelor’s degree in Chemical Engineering, a Master of Applied Science (Chemical Engineering) and an MBA.
David Scalzetti is the head of regulatory products initiatives at ICE Data Services. He is a Chartered Financial Analyst with nearly 20 years of experience with structured products and regulation. In this capacity, David monitors regulations such as Basel III, FRTB, MiFID II, SEC proposals and changes to the Investment Company Act, as well as tax regulations.
Jennifer Connors is a partner in Baker McKenzie’s Financial Regulation and Enforcement Practice Group and the Co-Lead, North America Broker Dealer Regulation Team. She represents broker-dealers, investment advisers, alternative trading systems (ATSs), private fund managers, financial technology (FinTech) companies, and other market participants on securities law and market regulation matters.
Mark Fitterman is a Senior Counsel in Baker and McKenzie’s North American Financial Regulation and Enforcement Practice, which provides clients with a full range of regulatory and compliance advice and enforcement counseling. He has more than 40 years of experience in financial service industry regulatory, compliance and enforcement matters. He advises a wide variety of clients covering the full gamut of the securities industry, including broker-dealers, exchanges, alternative trading systems, transfer agents and clearing agencies. Mark’s regulatory and compliance practice includes counseling clients on financial responsibility rule compliance, margin, trading and execution issues, the development of new products, and federal and state licensing issues. He also counsels clients on best execution and market structure issues, trading interpretive issues, “no action” requests, and collateral consequences of enforcement actions.
Martijn Groot oversees Marketing and Strategy for Alveo Tech, steering the company’s strategy for corporate development, innovation and communications. Martijn has unrivalled financial and risk data experience, as well as extensive knowledge of Alveo’s customers, having held Market Strategy and Business Development roles here prior to re-joining the company in 2015. A published author, with an MBA from INSEAD, Martijn’s career history spans financial technology, information services and analytics, at firms such as ABN AMRO, Euroclear and IGATE.
Steven Goune is a partner and heads Capital Markets Advisor’s Finance, Regulatory & Compliance Practice. He has over 15 years of experience in banking and capital markets including broker-dealers, asset/wealth managers, custodians, exchanges, FinTech and market data providers. His expertise covers digitally enabled finance and operations transformation leveraging AI, Blockchain, Machine Learning, RPA, NLG and NLP; business process re-engineering; and regulatory compliance and reporting.
Paul Michaud is a Toronto based Partner and Regional Head of Canada for CMA. Paul has expertise in all aspects of Trading, Transaction Processing and Risk Management from both the business and technology perspectives. Prior to joining CMA, Paul was responsible for Financial Market Industry Solutions at IBM and has held senior executive and consulting roles at IBM and PwC as well as directly for various Banks, Asset Managers and Energy Companies in both North America and Europe. Paul has extensive knowledge of all traded financial and energy products with particular expertise in complex OTC Financial and Energy transactions. Paul is recognized as a leading Subject Matter Expert for both the Financial Markets and Energy Sectors and has been an invited speaker and author on a wide range of issues facing these sectors over the years.
