Whilst registration for this webinar has closed, if you wish to attend this webinar, please email email@example.com to advise.
The RMA is pleased to bring you our November webinar – Model Risk Management and the Impact of Covid-19.
What challenges does the Covid-19 economic shock pose to model risk management? As one might expect, the pandemic has shocked wide swaths of our economy. We are seeing unprecedented rates of unemployment, plummeting revenues, and massive government interventions on a global scale – none of which was anticipated when our models were created. From data input and model calibration and recalibration to performance monitoring and overall model governance the impacts on model risk management have been profound and will likely impact the area for years (not months) to come. We discuss some of these outcomes and methods to potentially manage the most severe impacts.
About the Speakers:
Kevin Oden, Managing Partner, Kevin D. Oden & Associates, LLC
Kevin D. Oden is the founder and managing partner of the risk management consulting firm, Kevin D. Oden & Associates, LLC (KDOA). Working with the Risk Management Association (RMA), a not-for-profit, member-driven professional association serving the financial services industry, Oden also developed and is the Managing Director of the Model Validation Consortium (MVC), which is managed by KDOA. The MVC provides the highest quality, lowest cost model validation and model risk management advice to the financial services industry, with financial service members providing oversight. Prior to founding KDOA and the MVC, Oden was an Executive Vice President and Head of Operational Risk and Compliance within Corporate Risk at Wells Fargo & Co., managing second-line risk activities across information security, financial crimes risk, model risk, operational risk, regulatory compliance risk, and technology risk. Before this assignment, he was the Chief Market & Institutional Risk officer for Wells Fargo & Co. Before joining Wells Fargo in November 2005, he was a proprietary trader at several firms including his own, specializing in the commodity and currency markets. He began his finance career at Goldman Sachs in 1997 working in the risk and commodities groups. Before moving to finance, Kevin was the Benjamin Pierce Assistant Professor of Mathematics at Harvard University, where he specialized in differential geometry and published in the areas of geometry, statistics and graph theory. Oden holds a Ph.D. in mathematics from the University of California, Los Angeles and received bachelor degrees in science and business from Cleveland State University. Oden has served on the Board of Trustees of the Charlotte Symphony, the Board of Directors of Charlotte Concerts, the interest rates swap committee of the Chicago Mercantile Exchange and currently serves on the Board of Directors of the Risk Management Association (RMA) and on the RMA Journal Editorial Advisory Board and the financial technology firm Scienaptic Systems. Oden is a frequent speaker on industry topics related to model risk management and has published numerous articles on model risk management and pure mathematics.
Fran Garritt, Director, Securities Lending & Global Markets Risk, RMA
Fran Garritt has been with the Risk Management Association (RMA) for twenty years with the last fourteen in Market Risk and Securities Lending. His role includes all aspects of securities lending and regulatory outreach. For market risk, functions revolve around all aspects of funding and traded market risk, counterparty risk, collateral management, model risk and country risk.
Fran completed the University of Pennsylvania’s RMA/Wharton Advanced Risk Management Program as well as receiving his Master of Business Administration in Finance in addition to International Business from Philadelphia University, and has a Bachelor’s of Science in Economics from The Pennsylvania State University
About the Moderator:
Dominique de Rooij, Head of Monitoring & Validation, National Australia Bank