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Chicago, Illinois Chapter Meeting 
Chief Risk Officer (CRO) Panel – Challenges in the Current Environment

Date:               Thursday, August 20, 2015

Time:               

4:00 – 4:15 p.m.   Registration

4:15 – 5:15 p.m.  Presentation

5:15 – 6:00 p.m.  Networking and refreshments

Venue:                   DePaul University Department of Finance – 1 E. Jackson Blvd., 8^th Floor, Room 8005, Chicago, IL

                                 Meeting space provided by DePaul University Department of Finance

                                              

Topic:              Chief Risk Officer Panel – Challenges in the Current Environment

Panelists:         

John Grace, Executive Vice President & Chief Risk Officer, The Options Clearing Corp.

Sasha Rozenberg, Managing Director & Chief Risk Officer, Chicago Mercantile Exchange

Michelle McCarthy, Managing Director, Head of Risk Management, Nuveen Investments

 

                        Moderator:     Cary Lyne, President and Managing Principal Consultant, CJL Risk Enterprises, LLC

Synopsis:  This panel, including chief risk officers from an exchange, a clearinghouse and an end-user firm, will discuss the challenges and opportunities in risk management as we experience large scale changes in the derivative markets, as much over the counter product moves to a cleared environment.   The panel will discuss how they are adapting their risk programs to meet challenges such as cybersecurity concerns and technical glitches that occasionally roil markets, and changes in the liquidity characteristics of a number of markets as the role of banks changes in step with regulatory changes.

Biographies:        

 

Panelist: John J. Grace is Executive Vice President and Chief Risk Officer at OCC. He joined OCC in January of 2015. In his current role, Mr. Grace is responsible for driving and implementing OCC's risk management strategy which includes advising senior management and the Board of Directors on risk issues, overseeing OCC's Model Valuation and Enterprise Risk Management departments and working with regulators from the Securities and Exchange Commission, the Board of Governors of the Federal Reserve System, and the Commodity Futures Trading Commission. Prior to joining OCC, he was Senior Managing Director at AIG, where over his tenure he served in Enterprise Risk Management, Strategic Planning and Global Treasury & Capital Markets. Mr. Grace was the first AIG executive to focus on liquidity risk and was responsible for identifying risk exposures and setting strategy and tactics to mitigate these risks. Additionally he managed the company's relationship with the Federal Reserve Bank of New York as the point person with regulators in the areas of global treasury and capital markets. Before that Mr. Gracewas Senior Vice President at JP Morgan Chase in the home finance division and Vice President, Market Risk Manager in the North American consumer banking area with Citigroup. Earlier in his career, he served as Vice President covering the derivatives space with stints at both Deutsche Bank North America and Lehman Brothers.

Mr. Grace received his BA in Economics from Loyola Marymount University. He also earned an MBA in Finance from the University of Chicago's Booth School of Business.

Panelist: Sasha Rozenberg, Ph.D, is Managing Director and Chief Risk Officer of CME Group. He joined CME Group in September 2010, initially to build risk management of cleared OTC products, default management and quantitative analytics. He has been promoted to the CRO role in 2014. Prior to CME Group, Dr. Rozenberg served as Product Manager for Credit Derivatives and Head of Quantitative Analytics at SuperDerivatives. Prior to that, he held positions at Goldman Sachs, JPMorgan Chase and Morgan Stanley, focusing on quantitative modeling and trading in FX, commodities, Interest Rates and Credit Derivatives. 

Mr Rosenberg earned a bachelor’s degree in physics from the Moscow Institute of Physics and Technology and a PhD in theoretical physics from New York University.

Panelist: Michelle McCarthy has headed the Risk Management function at Nuveen Investments since 2010.  Prior roles include Chief Risk Officer at Russell Investments, and Chief Market and Operational Risk Officer at Washington Mutual Bank.  From 1986-2003 she worked at Bankers Trust and then Deutsche Bank in roles including derivatives portfolio manager, head of market risk management for Europe/Middle East/Africa in London, and head of asset management risk management.  She serves as a trustee of GARP, and is a member of GARP’s Buy Side Risk Managers Forum, and also chairs the Chicago chapter of 100 Women in Hedge Funds. 

Michelle holds a BA from the University of Washington and an MA from Harvard University.

Moderator: Cary Lyne is the president and managing principal consultant for CJL Risk Enterprises, LLC.  Mr. Lyne is a Member of GARP’s Chicago Chapter Steering Committee. Mr. Lyne was also recently the President of the GARP Buy Side Risk Managers Forum roundtable of Executive Risk Officers from the Asset Management Industry. He has over twenty years of experience in risk management leadership roles at Chicago-based financial services companies, including Northern Trust, Bank One, and First Chicago. Mr. Lyne also spent two years as a Senior Quantitative Risk Analyst at the Federal Deposit Insurance Corporation (FDIC) in Washington DC.  

Mr. Lyne holds a BS in Business Administration from Illinois Wesleyan University and an MBA in Finance from DePaul University’s Charles H. Kellstadt Graduate School of Business.