Stress Testing USA 2015: DFAST Edition

Stress Test USA: DFAST Edition

Bring the team: 3rd Colleague 50% Discount
When two colleagues register

Summer Early Bird $1,099
Register by September 4

Stress Testing USA 2015:
DFAST Edition:
October 27-28

Key Highlights

Determine where the bar is for different sized institutions, how to utilize resources and find a comfort level for investment and process

Understand how to build an effective governance, control and challenge process

Develop stress testing into a long term, repeatable exercise for use beyond regulatory compliance

Assess how to effectively document the process

Best practices for building accurate models, PPNR modeling, credit loss models and modeling uncommon and non-traditional business activities

Learn how to manage model risk, validate models, set effective model risk buffers and effectively use vendor models

Understanding the gains and losses for institutions on the verge of crossover

Key insights on building a system for effective data flow and reconciliation

Featuring More Than 20 Heads of Stress Testing

Robert Chan
Head of Stress Testing
City International Bank

Andrei Egorov
MD, Stress Testing
Charles Schwab

Ivo Antanov
Head of Portfolio Analytics
Silicon Valley Bank

Tom Villella
Director, Enterprise Risk Modeling
Astoria Bank

Tally Ferguson
Director, Market Risk Management
BOK Financial

Jeff Prelle
VP, Risk Modeling

Why Should You Attend?

“Reputational risk is a real challenge; the first time around the track, midsized banks want to
get the turns right.”

Frank Keating, President, American Bankers Association

In 2015, dozens of midsized banks in the US have been asked to follow suit of the major CCAR institutions and for the first time announce the results of the DFAST exercise, showing that they have enough capital and liquidity to withstand a deep recession and prolonged turmoil in financial markets.

CFP’s Stress Testing USA 2015: DFAST Edition Congress has been researched with DFAST institutions, ranging between $10 – 50 Bn in assets, and delivers thought-leadership, best practices and industry insight from more than 20 Senior Risk and Stress Testing practitioners.

Across two-days, participants will hear thought-provoking and insightful presentations and discussions addressing the key challenges being faced institutions subject to DFAST compliance.

Key challenges addressed for 2015 include:

  • Setting the bar for resource and investment levels
  • Controls, challenge and governance
  • Documentation
  • Model validation and development
  • Data flow and reconciliation
    and much more..

DAY ONE | October 27, 2015

08:30 Registration & Morning Coffee

08:45 Chair’s Opening Remarks

09:00 Setting The Bar: Utilizing Resources And Finding A Comfort Level For Investment And Process For DFAST Compliance
  • Determining where is the ‘bar’ for different sizes of institutions
    – $40 – 50bn
    – $20 – 40bn
    – $10 – 20bn
  • Understanding what processes have been built
  • Assessing the different institutional approaches and how to benchmark against peers
  • Creating an industry benchmark for DFAST
  • Analyzing the financial and human capital resource limitations
  • Reviewing the shift of the banks primary focus

John Fleshood, Chief Risk Officer, Wintrust Financial
Ivo AntonovHead of Portfolio AnalyticsSilicon Valley Bank
Jeffrey PrelleVP, Risk ModelingScottrade
Hammad Pirzada, Corporate Treasurer, The PrivateBank

09:40 Developing Stress Testing Into A Long Term, Repeatable Exercise For Use Beyond Regulatory Compliance 
  • Assessing what the regulators want to see
  • Analyzing the operational challenges
  • Putting in place the resources and retaining them
  • Leveraging the regulatory investment into value for the institution
  • Gaining buy-in from senior management
  • Adding value to the institution
  • Making the process more efficient, less resource intensive and more timely
  • Using stress testing for guiding and making effective business and strategic decisions
  • Determining the level of integration into current processes and how disjointed is stress testing from reserve and balance sheet models

Ivo Antonov, Head of Portfolio Analytics, Silicon Valley Bank
Ralph Baxter, CEO, Cluster Seven
Thomas Wang, 
Director, Dodd-Frank Act Stress Testing, Capital Markets, Fannie Mae

10:55  Morning Refreshment Break & Networking

11:25 Building A System For Effective Data Flow And Reconciliation To Meet Requirements For Today And Tomorrow
  • Ensuring data consistency across reports, departments and users
  • Determining where the data needs to come from and who needs to access
    • Integrating and automating data accessibility
  • Understanding the current state and what are the requirements
  • Evaluating what will be required in the future
  • Improve the efficiency
  • Assessing the need for investment and at what level
  • Gaining additional data and handling limitations

Frederik Sziszak, VP, Treasury, Capital Management, CIT
Ed Roberston,
Co-Head And MD, Financial Institutions, Situs

12:30 Luncheon Address Delivered By Cimcon Software

 12:40 Lunch Break & Networking

1:40 Setting Effective Model Risk Buffers And Overlays 
  • Determining an effective framework for the buffer
    • Effectively measuring the buffer
    • Calculating
  • Understanding how to quantify
  • Calculating buffers for vendor models with limited information

2:15 Effectively Managing Model Risk And Validating Models
  • Determining what validation entails and what it should entail
  • Assessing the time horizons and resource pressures
  • Reviewing when the process should be done
  • Understanding how to document and how much explanation is required
  • Analyzing the scope of models that should be considered
    • Defining a model
    • Ensuring capture of all models
    • Assessing the process for reporting up to model risk management

Jeffrey Prelle, VP, Risk Modelling, Scottrade
Mark Grondahl, SVP, Model Risk Management, TCF Bank

3:25 Afternoon Refreshment Break & Networking

3:55 Effectively Using Vendor Models And Ensuring They Work For The Portfolio
  • Understanding how to make sure the model works for the portfolio
  • Is the model appropriate
  • What data was used to build the model
  • Assessing the underlying model
  • Evaluating what the problems are
  • Determining how to deal with uncertainties with limited information
  • Assessing how to spot model errors

4:40 Identifying Appropriate And Accurate Capital Triggers
  • Determining how to set triggers quantitatively and qualitatively
  • Ensuring capital triggers are appropriate
  • Assessing what action to take and when

Christopher Dunn, SVP, Director of Asset Liability and Capital Planning, Associated Bank
Bob May, Senior Director, Investor Relations And Capital Management, Synovus 

5:45 Chair’s Closing Remarks

5:50 End of Day One & Drinks Reception

DAY TWO | October 28, 2015

08:30 Registration & Morning Coffee

08:45 Chair’s Opening Remarks

09:00 To Stay DFAST Or To Become CCAR: Understanding The Gains And Losses For Institutions On The Verge Of Crossover
  • Determining the additional expectations and how the ‘bar’ is raised for CCAR
  • Assessing the additional regulatory requirements that come with it including:
    • Liquidity
    • Volcker
    • Dodd-Frank
  • Planning for the jump and understanding how to execute such a plan
  • Sizing the additional costs and resource demands incurred
  • Analyzing where and why failures happen and how to avoid the pitfalls

Robert Chan, Head of Stress Testing, City National Bank
Anthony Donatelli, EVP, Director Enterprise Risk Management, New York Community Bancorp
Andrei Egorov, MD, Stress Testing, Charles Schwab
Omer Samikoglu, Credit Stress Testing Leader, CIT Group

09:40 Building An Effective Governance, Control And Challenge Process
  • Determining the expectations from the regulators
  • Gaining appropriate “buy-in” from senior management
  • Understanding the roles and information flow for:
    • The Board
    • Executive and Management Oversight Committees:
      • Stress Testing Oversight Committee
      • Capital Planning Committee
      • The Finance Committee
      • Model Risk
      • Risk Departments
  • Documenting and reporting the process
  • Assessing the types of controls and function in place for testing and ongoing monitoring
    • Should this be done internally or externally
    • Who should conduct
  • Challenging and vetting
    • Self identifying gaps
    • Setting milestones
    • Exporting knowledge for credible challenge

Robert Chan, Head of Stress Testing, City National Bank
Tally Ferguson,
SVP, Director of Market Risk Management, Bank of Oklahoma
David Risdon,
Senior Managing Director and Co-Head of Special Opportunities Group, Cushman & Wakefield Inc. 

10:55 Morning Refreshment Break & Networking

11:25 Assessing How To Effectively Document The Process
  • Understanding what pitfalls to look out for when documenting the process
  • Building a methodical approach
  • Making the process more time and resource efficient
  • Establishing how the process should be documented
    • Internal Vs. Technical Advisors
    • Documenting as the process runs
  • What should be explained
    • Purpose of the model
    • Data sources used by the model
    • Statistical techniques employed, mechanics of the model
    • Who runs it, own it and is accountable
  • Determining how much information is enough
  • Assessing where to improve and how

Tally Ferguson, SVP, Director of Market Risk Management, Bank of Oklahoma
Mark Grondahl, SVP, Model Risk Management, TCF Bank

12:05 Luncheon Address Delivered By EVM Tech

12:15 Lunch Break & Networking


1:15 Best Practices For Building Accurate Models 
  • Building a framework that is defensible
  • Determining the role of model developers and functional business units
  • Evaluating statistical techniques
  • Measures of model performance and validity
  • Gaining the right data for the right purpose
    • Internal data
    • External data

Ty Lambert, Head of Treasury Analytics, Bancorp South
Sam Chen, Quantitative Analyst, Darling Consulting Group

2:20 Best Practices For PPNR Modeling
  • Understanding how sophisticated the approach should be
  • Determining wich data should be used and the limitations
    • Internal
    • External
    • Data for mergers and acquisitions
    • How far back can and should the data go
  • Overcoming the modelling challenges
    • Incorporating management and strategic decisions
    • The sub components and non data driven areas of PPNR
    • What to do where data doesn’t represent
  • Determining what types of modelling techniques are being used to forecast balance sheet volumes
    • Internal models
    • Vendor models
  • Addressing operational losses within stress tests

Clifton Loo, Director, Model Development, Synchrony Financial
Venkat Veeramani, SVP, Head of Quantitative Modeling And Analytics, Wintrust Financial 

3:25 Afternoon Refreshment Break & Networking

3:55 Building Models For Uncommon And Non-Traditional Business Activities On The Balance Sheet 
  • Determining how to view risk on unusual asset classes
  • Assessing how to display to regulators and convincing regulators how to view the portfolio
  • Understanding how to model, capture and account within the portfolio
  • Overcoming the challenges of preconceived conception from regulators

Anthony Donatelli, EVP, Director Enterprise Risk Management, New York Community Bancorp

4:30 Benchmarking Credit Loss Models
  • Understanding what models are being used in what areas
  • Determining how to find, utilise, align and justify external data for an existing portfolio
  • Assessing the approaches used and what drives the factors

Tom Villella, Director, Enterprise Risk Modeling, Astoria Bank

5:05 Chair’s Closing Remarks

5:10 End of Congress

Pre Congress Masterclass: The Heath-Jarrow-Morton (HJM) Model & Its use in Stress Testing

Hosted by: Kamakura Corporation

9:00am Introduction, course outline, key deliverables, objectives and takeaways
Suresh Sankaran

 9:10 Review of the HJM Model

Introduction & context Dr Robert Jarrow
Session Presenter Dr Donald R van Deventer
Comments, Q&A Dr Robert Jarrow, Dr Donald R van Deventer, Martin Zorn

10:20 Morning refreshment break and networking

 10:50 Key analytical steps in the HJM Model & its applicability in the Stress-Testing process

Introduction & context Dr Robert Jarrow
Session Presenter Martin Zorn
Comments, Q&A Dr Robert Jarrow, Dr Donald R van Deventer, Suresh Sankaran

12:00 Lunch break and networking

 1:10 Simulating Macro Factors forward

Introduction & context Martin Zorn
Session Presenter Dr Donald R van Deventer
Comments, Q&A Dr Donald R van Deventer, Martin Zorn


2:30 Measuring the significance of shifts In Monte Carlo results for VaR, Net Income and Cash Flow

Introduction & context Suresh Sankaran
Session Presenter Dr Donald R van Deventer
Panel discussion Dr Donald R van Deventer, Martin Zorn,
Moderator Suresh Sankaran

3:50 Afternoon refreshment break and networking

 4:20 Full Enterprise Risk Measures on A Transaction-Level calculation Basis

Introduction & context Dr Donald R van Deventer

Q & A moderator Suresh Sankaran

Comments Dr Robert Jarrow, Dr Donald R van Deventer, Martin Zorn

5:00 Close of Masterclass
About the Masterclass Leaders:

Donald Van Deventer
Donald R. van Deventer, Chairman & CEO

Donald R. van Deventer founded the Kamakura Corporation in April, 1990 and is currently Chairman and Chief Executive Officer. Dr. van Deventer’s emphasis at Kamakura Corporation is enterprise wide risk management and modern credit risk technology.

The second edition of his newest book, Advanced Financial Risk Management (with Kenji Imai and Mark Mesler) was published in 2013. Dr. van Deventer’s first book Financial Risk Management in Banking (with Dr. Dennis Uyemura, Probus Publishing, 1993) is one of the best known books in its field. He has served on the editorial board of the Journal of Credit Risk since 2005.

Dr. van Deventer holds a Ph.D. in Business Economics, a joint degree of the Harvard University Department of Economics and the Harvard Graduate School of Business Administration.

Martin Zorn
Martin M. Zorn, President and Chief Operating Officer

Martin joined Kamakura in January 2011 as Chief Financial Officer and Chief Administrative Officer and was recently appointed President and Chief Operating Officer.

Mr. Zorn is a twenty-one year veteran of Wachovia Bank. Mr. Zorn’s early years with Wachovia were spent in the systems and marketing departments before transitioning to corporate banking and corporate finance.

He created an emerging growth and technology practice while he was in the Research Triangle. His clients have ranged from global leaders such as Exxon, Shell, American Airlines and USAA to early stage technology start-ups.

Most recently he was an executive with two small cap turnarounds where he chaired the corporate asset and liability committee and was the executive liaison to the Board Audit and ALCO committees. In these roles he developed a framework for improved financial accountability, expense management and capital deployment through the use of forecasting, valuation, funds transfer pricing, capital allocation and line of business profitability models. He served as a member of the adjunct faculty at the University of Southern Indiana where he was an instructor in investments and business finance.

Mr. Zorn is a 1977 graduate of Vanderbilt University where he earned his Bachelor of Arts degree in economics. He pursued studies at the master’s level in finance at the University of Texas at Dallas and received his executive management certification in 1998 from Duke University’s Fuqua School of Business.

Robert Jarrow
Robert A. Jarrow, Managing Director

Professor Jarrow was named as Managing Director and Director of Research of Kamakura Corporation in February 1995. Dr. Jarrow is also the Ronald P. and Susan E. Lynch Professor of Investment Management at Cornell University’s S.C. Johnson Graduate School of Management where he has been a professor since 1979.

Dr. Jarrow is the recipient of numerous professional awards. In 2009 he was awarded Risk Magazine’s Lifetime Achievement Award. He was named to the Fixed Income Analysts Society Hall of Fame in 2004, the 50-person RISK Magazine Hall of Fame in December 2002, and International Association of Financial Engineers Financial Engineer of the Year in 1997. He is also a Senior Fellow of the International Association of Financial Engineers.

Dr. Jarrow is one of the world’s foremost authorities on mathematical finance. In the field of bond market dynamics and foreign exchange, he is an originator of the Heath-Jarrow-Morton (HJM) multi-factor interest rate term structure model. He also is a co-inventor of the reduced-form credit risk model, which is the primary framework for pricing and hedging credit derivatives.

Dr. Jarrow is the author of Option Pricing (with Andrew Rudd, Irwin 1983), Finance Theory (Prentice Hall 1988), Modelling Fixed Income Securities And Interest Rate Options (McGraw Hill 1995, 2nd edition Stanford University Press 2002), Derivative Securities (with Stuart Turnbull, South-western 1996, 2nd edition 2000), and Introduction to Derivative Securities, Financial Markets, and Risk Management (W.W. Norton 2013).

Dr. Jarrow is also the author or co-author of more than two hundred research articles on financial theory and investment management. In addition to his research, teaching and consulting activities, Dr. Jarrow also serves in an editorial capacity for many journals.

Dr. Jarrow received an A.B. in Mathematics and Management Science from Duke University, his M. B. A. in Finance from the Amos Tuck School of Business at Dartmouth College, and his Ph. D. in Finance with a minor in Economics from Massachusetts Institute of Technology.

Suresh Sankaran
Suresh Sankaran, Managing Director

Suresh, recently assumed the role of Managing Director, Advisory Services, of Kamakura Corporation where he heads, develops, and provides Enterprise Risk Management (ERM) and Basel II advisory consulting services to its clients worldwide. His work includes practical application of advanced financial analytics to solve crucial risk management issues, on assignments involving latest solutions in the field of financial engineering including advice on term structure models, valuation strategies, value at risk, and credit risk. He provides consultations to corporate entities and senior management on diverse issues as risk management practices, derivative valuation methods, and asset-liability management techniques.

Mr. Sankaran re-joined Kamakura Corporation from the International Finance Corporation (IFC), the private sector arm of the World Bank Group, where he was Principal Operations Officer responsible for the development of risk management practices in the financial services sector in emerging markets. Previously at Kamakura as Co-Head, Europe, Middle East & Africa, he managed several projects to structure default probability estimates for retail banking portfolios, including the incorporation of user-specific variables into a credit scoring and default estimation framework, and including the testing of the statistical significance of selected variables. He has advised clients on customer behaviour modelling on retail banking products like mortgages for prepayments, and non-determinant deposits for early withdrawal. He has assisted several leading retail banks around the globe in the production of customer behaviour estimates to analyse their balance sheet mismatches.

Ivo Antonov
Head of Portfolio Analytics
Silicon Valley Bank

Ivo Antonov will be speaking at Stress Testing USA 2015: DFAST Edition.

Ralph Baxter

Ralph is responsible for corporate vision and projecting best practice in end user computing (EUC) within the business and advisor community. He pioneered ClusterSeven’s thought leadership in this technology sector. He brings an insider’s view of governance and compliance issues as a former committee member of ISSIG, the information security section of the Institute of Internal Auditors (IIA).

Ralph’s career has spanned 30 years in the technology and energy sectors, beginning with BP in the Far East. Ralph ran the external IT business and eCommerce of Lattice Group, (formerly part of BG Group and British Gas). He was also part of the founding team at Kirkland (now Dragon Oil). He holds a First Class degree in Natural Sciences from Churchill College, Cambridge University.

Robert Chan
Head of Stress Testing
City National Bank

As the Head of Stress Testing at City National Bank, Robert Chan leads City National’s Bank’s enterprise wide efforts for the annual DFAST submission, including coordinating efforts in process planning, model development, model validation, internal audit, documentation, governance and PPNR forecasting. Prior to working at City National Bank, he has worked in investment and corporate banking roles at Peter J. Solomon Company and BMO Capital Markets, respectively. Robert earned a Bachelor’s Degree in Economics and Master’s degree in Statistics from Harvard University and an MBA from the University of Chicago, concentrating in Analytic Finance and General Management.

Sam Chen
Quantitative Consultant
Darling Consulting Group 

As a quantitative Consultant at Darling Consultant Group, Sam validates a variety of risk models for financial institutions in the large bank space- including risk rating (PD/LGD), stress testing, allowance and deposit models- from both a statistical and business perspective. Sam combines his background in econometrics with his model building experience to bring practical model risk management insight to DCG’s validation clients.

Before arriving at DCG, Sam served as a senior consultant in SunGard’s Risk & Performance group, where he developed model sin multiple areas of financial risk, with a focus on credit and interest rate risk. Sam designed SunGard’s Dodd-Frank Act stress testing model selection algorithm and has also created custom PD and LGD models, including a suite of models currently implemented at a top 15 U.S bank.

Sa graduated cum laude with a bachelor’s degree in economics with mathematical applications from Princeton University. While at Princeton, he was the recipient of the John Glover Wilson Memorial Award for his thesis studying the economics of bargaining.

Anthony Donatelli
EVP, Director Enterprise Risk Management
New York Community Bancorp

Anthony Donatelli will be speaking at Stress Testing USA 2015: DFAST Edition.

Christopher Dunn
SVP, Director of Asset Liability and Capital Planning, Treasury Division
Associated Bank

Christopher Dunn will be speaking at Stress Testing USA 2015: DFAST Edition.

Andrei Egorov
MD, Stress Testing
Charles Schwab

Andrei Egorov is a Managing Director in Charles Schwab’s Corporate Risk Management group where for the past 4 years he’s been involved in the development of enterprise-wide stress-testing framework. Before shifting his focus to stress-testing efforts Andrei was responsible for Charles Schwab’s interest rate risk reporting and net interest revenue forecasting.

Andrei is a seasoned Risk and Treasury professional with more than fifteen years of experience in asset/liability, interest rate risk, and liquidity management at financial institutions ranging from $700 million to $150 billion in assets. Prior to joining Charles Schwab in 2008, Andrei held positions of Treasurer at Columbia Credit Union (2006-2008) and Treasury Officer at Eastern Bank (1999-2006).

Andrei holds an MS in Finance (1998) from Sawyer School of Management at Suffolk University and an MS in Economics (1996) from the Peoples’ Friendship University of Russia.

Tally Ferguson
SVP, Director of Risk Management
Bank of Oklahoma

Tally Ferguson is currently the Director of Market Risk Management at BOK Financial, responsible for enterprise wide market risk monitoring, model risk analysis and validation and coordinating the corporate insurance program. Prior to coming to BOKF in 1996, Mr. Ferguson was a regulatory consultant for Ernst & Young and helped clients implement numerous regulatory initiatives including comprehensive risk management programs and interest rate risk initiatives. Mr. Ferguson got his introduction to banking as an examiner with the Federal Reserve Bank of New York, where he began in 1985 and progressed to Supervising Examiner by March of 1994. Mr. Ferguson has an undergraduate degree in Economics and Mathematics from Yale University and an Executive MBA from the Wharton School: He is a CFA charterholder and carries Series 7, 24, 63, 4 and 53 licenses. He is also an adjunct professor of finance at the University of Tulsa.

John Fleshood
Chief Risk Officer
Wintrust Financial

Mr. Fleshood is the executive vice president and chief risk officer overseeing the development and implementation of Wintrust’s enterprise-wide risk management and model risk management programs. He joined Wintrust Financial Corporation in 2005 and also serves on the board of Wintrust Information Technology Services. Previously, Mr. Fleshood served in various roles with Fifth Third Bancorp including Senior Vice President & Chief Financial Officer of the Chicago affiliate of Fifth Third Bank and Vice President and manager of the holding company treasury function. Mr. Fleshood has also served as Chairman of the ABA Graduate School of Bank Investments & Funds Management.

Michael B. Glotz
Founding Partner, MBS, CRP
Strategic Risk Associates, LLC

Mr. Glotz is a Founding Partner of Strategic Risk Associates (SRA) and is the firms’ practice leader for risk management, governance, regulatory remediation, bank integration and internal audit activities and has led numerous Enterprise Risk Management engagement efforts for regional and community banks, including his leadership role in delivering governance assessments.

Mr. Glotz previously served as Senior Vice President and Strategic Financial Officer for Crestar Bank and later SunTrust Bank through acquisition.. During his tenure with SUnTrust Bank he held various senior financial positions including Strategic Financial Officer and Head of Strategic Cost Management.

Immediately before starting SRA, Mr. Glotz was a Managing Vice President with Capital Once Financial Corporation. Mr. Glotz held a number of senior positions with Capital One including Managing Vice President of Corporate Audit and Credit Review Services for Capital One Bank ($80 Billion in Assets at the time), which included the oversight and development of over 100 audit and risk professionals. Mr. Glotz was also responsible for supporting the implementation of Enterprise Risk Management and leading independent assessments of bank acquisition and integration activities for large scale mergers.

Mr. Glotz was a Faculty Professor of the Virginia Bankers School at the University of Virginia where he taught a course in Risk Governance and Enterprise Risk Management. He also has been a Guest Professor of Bank ERM Seminars sponsored by SNL. He has delivered Bank Director training for the West Virginia Banker Association, the Virginia Banker Association, the Virginia Association of Community Bankers, the North Carolina Bankers Association, and individually at a number of Bank Boards.

Mr. Glotz received a BBA degree with the University of Winsconcin, and MBA with the University of Richmond and completed the Executive Development Program at Wharton, University of Pennsylvania. He is also a Certified Risk Professional.

Mark Grondahl
SVP, Model Risk Management
TCF Bank

Mark Grondahl is currently the SVP – Model Risk Management at TCF Bank (a DFAST bank). Prior to this role, he led the Model Validation and Spreadsheet Analytics teams at Ally Financial, Inc. (formerly GMAC and a CCAR bank) from July 2007 through February 2014. His experience includes Operations Risk Management (GMAC/Ally), Internal Audit (GMAC, Conseco Finance), CFO Group (Thompson Reuters) and external auditing (Arthur Andersen). His education includes an undergraduate degree in Accounting, an MBA, an inactive CPA license.

Ty Lambert
Head of Treasury Analytics

Mr. Lambert joined BancorpSouth in 2006 and has served in a variety of roles including portfolio management, asset-liability management, investor relations, and model development/systems integration. His team is currently responsible for asset-liability management, liquidity risk management, and capital stress testing. In addition, Mr. Lambert plays an active role in strategic planning with respect to corporate budgeting and capital deployment. He has been a featured speaker at stress testing conferences and has served on American Banker’s Advisory Board for Stress Testing. Prior to joining BancorpSouth, Mr. Lambert was a portfolio manager for retail clients. He received his bachelor and MBA degrees from Mississippi State University and the University of Mississippi, respectively.

Clifton Loo
Director, Model Development
Synchrony Financial

Clifton Loo will be speaking at Stress Testing USA 2015: DFAST Edition.

Bob May
Senior Director, Investor Relations and Capital Management

Bob May will be speaking at Stress Testing USA 2015: DFAST Edition.

Hammad Pirzada
Corporate Treasurer
The PrivateBank

Mr. Pirzada joined The Private Bank in March 2010 and serves as the Corporate Treasurer. Mr. Pirzada is responsible for funding and liquidity risk management, interest rate risk management, asset liability management, investment portfolio management, debt and equity capital transactions, capital planning, stress testing and Insurance. Prior to joining The Private Bank, Mr. Pirzada served as Vice President, Corporate Finance and Corporate Treasurer of TransUnion Corporation from May 2008. Prior to joining TransUnion, Mr. Pirzada was with LaSalle Bank, part of ABN AMRO Bank, where he held a variety of roles in Risk Management and Corporate Treasury, and as Senior Vice President, Corporate Acquisitions. He has been a speaker and panel member at industry and Federal Reserve conferences on liquidity and interest rate risk management, capital management and stress testing. He received an MBA in Analytic Finance and Economics from The University of Chicago.

Jeffrey Prelle
VP of Risk Modeling

Jeffrey Prelle will be speaking at Stress Testing USA 2015: DFAST Edition.

David Risdon
Senior Managing Director and Co-Head of Special Opportunities Group
Cushman & Wakefield Inc. 

David Risdon is a Senior Managing Director and Co-Head of the new Special Opportunities Group within Cushman & Wakefield’s global Valuation & Advisory Practice. The Special Opportunities Group’s focus is bank advisory diligence, to include data aggregation and financial modelling for CCAR stress testing, bank loan portfolio analyses to include portfolio stratification analyses, loan underwriting, credit scoring and loss-given-default analyses.

Mr. Risdon joined the Atlanta office of Cushman & Wakefield in July of 2015. Prior to joining Cushman & Wakefield, Mr. Risdon led Situs LLC’s CCAR data aggregation practice, having successfully completed numerous large CCAR data aggregation assignments for major U.S. and foreign-owned financial institutions.

Mr. Risdon began his 30+ year career in commercial banking at Security Pacific (later acquired by Bank of America), in Los Angeles, focusing on Commercial Real Estate and Large Corporate C&I Lending. He then worked at the bank’s Manhattan offices, structuring large multi-bank loan syndications for Commercial Real Estate and Corporate Acquisitions. He was then promoted to Managing Director to lead the bank’s mergers and acquisition advisory practice in Los Angeles. Later, Mr. Risdon joined Bank of Boston’s merger & acquisition advisory practice in Boston, specializing in REIT formations and portfolio acquisitions , prior to, in 2013, joining Situs, LLC.

Ed Roberston
Co-Head & MD, Financial Institutions Group (FIG)

Ed Robertson, Managing Director and Co-Head – Financial Institutions Group at Situs, provides specific focus on M&A advisory and due diligence, loan portfolio advisory and due diligence, best practices consulting in finance and capital allocations, as well as data project aggregation and validation. He boasts more than 30 years of finance experience in the commercial, international, correspondent, mortgage and retail industry, as well as 15 years of experience as Chief Financial Officer of two Fortune 100 Commercial Bank divisions. Prior to joining the Situs team in 2013, Mr. Robertson headed the Commercial Loan Services Division at Clayton, where he developed and managed many large commercial loan engagements with the FDIC, Barclays Bank, Sovereign Bank, Union Bank and Columbia Bank. In 2007, Mr. Robertson joined Cerberus Capital Management as Chief Financial Officer of an operating company, Aegis Mortgage, ultimately leading the firm and its Executives through federal bankruptcy proceedings in Delaware. In 2001, Mr. Robertson spent five years as Chief Financial Officer of the Commercial Group at Washington Mutual, where he served as a key member of the Executive Team rationalizing the scope of the lending and then driving 175% asset growth in the core business lines from $20 billion to $55 billion over 3 years, while growing the net income by over 260%, to nearly $600 million with less than 0.25% in charge-offs. He later led the WM Special Servicing Group with over 450 employees, and oversaw the financial activities of the Home Loans Production and Origination Group. In 1995, Mr. Robertson joined Baclays Group, Latin America Region as the Chief financial Officer, as a key member of the Executive Team, driving asset growth from $2 billion to $8 billion over six years, while at the same time increasing net profit from $26 million to $102 million. During his tenure at Barclays, he led the complete turnaround of a $70 million Brazilian JV bank, as well as the development of a Data Warehouse and profitability system. Mr. Robertson received his BS in Business Administration from the University of Florida, and MBA from the University of Pittsburgh. In addition, he was awarded the Chartered Financial Analyst (CFA) designation.

Omer Samikoglu
Credit Stress Testing Leader
CIT Group

Omer Samikoglu will be speaking at Stress Testing USA 2015: DFAST Edition.

Frederik Sziszak
VP, Treasury – Capital Management
CIT Group

Frederik Sziszak will be speaking at Stress Testing USA 2015: DFAST Edition.

Venkat Veeramani
SVP, Head of Quantitative Modeling and Analytics
Wintrust Financial

Venkat is an Enterprise Risk Management professional experienced in areas that span from Risk Strategy, Risk Appetite, Credit and Market Risk Management to Financial Modeling. He is well versed with all areas of Enterprise Risk Management including Risk Identification, Measurement, Mitigation, Management, Validation and Reporting. He has previously worked at Morgan Stanley, Discover Financial Services (Spin-off from Morgan Stanley) and HSBC.

Venkat is a published author on articles related to game theory and risk management which were presented at numerous industry and trade conferences at both national and regional levels. Venkat holds a Ph.D. in Ag Economics and an M.S. in Economics from the University of Kentucky.

Venkat currently oversees the bank’s risk and financial modeling and quantification efforts.

Tom Villella
Director, Enterprise Risk Modeling
Astoria Bank

Tom Villella has worked in risk management since 1990. After a long career in “Money Center” banks he joined Algorithmics as a Financial Engineer specialist in banking.

Tom has experience building models, validations and building risk systems. At different points Tom led Market Risk Departments, Counterparty Risk Departments and credit departments.

Thomas Wang
Director, Dodd-Frank Act Stress Testing, Capital Markets
Fannie Mae

Thomas Wang will be speaking at Stress Testing USA 2015: DFAST Edition.

26th August 2015

Understanding Regulatory Requirements And Improving Resilience To Change

28th July 2015
Martijn Groot

Stress Testing – The Challenges of Reporting and Submitting Under Different jurisdictions

27th July 2015
Robert chan

Understanding The Gains And Losses For Institutions On The Verge Of Crossover and Building An Effective Governance, Control And Challenge Process

27th July 2015
Ty Lambert

Macroeconomic Stress Testing Lessons Learned From Bancorpsouth’s Strategy and Implementaion

15th July 2015

Analysing Stress testing Results and Preparing For Next Time

CFP Interviews Alex Frankl, Head of Risk, BCS Consulting 1) Please tell us a little bit about yourself, your role and your experience. I’m a financial […]
15th July 2015

Stress Testing Scenarios

The modern scientific method is based upon assumptions and models, we make an assumption, test it’s efficacy and when proven we build on that with further […]
15th July 2015

Stress Testing Data

CFP Interviews Rajib Chakravorty, Senior Project Manager, Data Management, HSBC 1. Rajib, please tell us a little about yourself and your background A results-focused and self-motivated […]
15th July 2015

Integrated Stress Testing

15th July 2015

CFP Stress Testing Industry Research

During the intensive research for Stress Testing Europe, the Centre for Financial Professionals gained an insight from thought leading industry professionals across Europe as to the […]
15th July 2015

Reinforcing Market Confidence with Consistent Stress Testing

By Wolters Kulwer Financial Services For some time now, financial institutions have been criticized for failing to fully identify and manage the risks that they have […]
15th July 2015

Model Risk Management for Stress Test

By CIMCO Since the financial crisis of 2007-09, regulators and banks have been using stress testing as a means of evaluating and ensuring sufficient capital in […]
15th July 2015

Minimizing Data And Modeling Challenges To Maximize The Effectiveness Of Stress Testing For Strategy And Business Beyond CCAR And DFAST

In the 2014 CCAR results, the Federal Reserve rejected the plans of five of the 30 participating bank holding companies participating. The Comprehensive Capital Analysis and […]
15th July 2015

Getting The Best Return From Your CCAR Investment

CFP interview H. Walter Young, Chief Of Data & Analytics, CCAR Office at M&T Bank, Getting The Best Return From Your CCAR Investment Ahead of North […]
15th July 2015

Implementing a Stress Testing Process – Key Issues and Challenges By Charles Richard QRM

“Stress Testing has always been a focus for QRM going back to our founding in 1987. Today this concept has evolved to cross the traditional pillars […]
2nd December 2014

Stress Testing: A Below the $50bn Perspective

Sponsors & Media Partners

Gold Sponsor(s)


Gold Sponsor

+1 (978) 692 9868

CIMCON’s spreadsheet management tools reduce model risk and provide sound model risk management for stress testing to meet regulatory requirements and improve model quality. The CIMCON tools reduce risk by providing a visual and clear understanding of your model, quickly identifying errors and areas of concern, and delivering proper controls and reporting to meet regulatory expectations, all with minimal end user impact. Comprehensive tools provide inventory, risk assessment and data lineage, data analysis, and controls/monitoring. CIMCON tools have helped over 325 firms including some of the world’s largest banks, insurers and financial services companies manage spreadsheet model risk.

For further information please visit


Gold Sponsor

+1 (212)-858-7792

ClusterSeven provides end-to-end model risk management for those firms where financial modelling is conducted across a range of technology platforms, particularly where these include a high usage of end user computing components such as spreadsheets.

Our clients use our solution to:

Reduce the risk of financial modelling and spreadsheet operations
Reduce the costs of model and spreadsheet maintenance
Provide transparency of modelling processes for business and technology transformations
Capture data derived from models and spreadsheets for reliable re-se such as reconciliations
Demonstrate appropriate controls to meet the demands of regulators for better model risk, data and end user computing management (e.g. SOX, Basel II/III, Solvency II, OCC Supervisory Guidance on Model Risk Management)
ClusterSeven’s clients are drawn from across the financial world and include one third of the top 30 global banks plus many leading names in investment management, insurance and energy services. ClusterSeven was founded in 2003 and established a New York office in 2006.

Cushman & Wakefield

Gold Sponsor

(404) 460 8194.

Cushman & Wakefield, Inc. is a privately held commercial real estate services firm headquartered in New York City. Founded in 1917, it has 259 offices in 60 countries, employing more than 16,000 professionals. The firm’s global services include appraisal and property tax services, corporate services, debt and equity financing, investment banking, leasing, project management, property management, sales and acquisitions, and valuation services. The Special Opportunities Group within Cushman & Wakefield has extensive experience leading large diligence teams for time-sensitive projects including loan portfolio underwriting, CCAR / DFAST stress testing, cash flow modeling, loan file data aggregation, and bank target advisory services. The team provides these services to investment banks, commercial banks, private equity funds and real estate companies ranging in size from regional to multinational institutions.

Darling Consulting Group

Gold Sponsor

+1 978-463-0400

Darling Consulting Group (DCG) is a leading independent provider of balance sheet risk management services and solutions for the financial institution industry. DCG’s Quantitative Risk Analysis & Strategy Group provides specialized end-to-end validation for credit stress testing models (DFAST/CCAR) which includes an evaluation of the mathematical approaches employed to project credit losses and PPNR forecasts, as well as ALM model integration, governance, controls and documentation.

For over 30 years DCG has helped financial institutions of all sizes make better strategic and risk management decisions. Services include comprehensive asset/liability management and strategy advisory, balance sheet risk modeling, broad-based model validation (e.g. ALM, liquidity, credit, ALLL, MSR, capital, operational risk models), behavioral studies (deposits, prepayments), credit stress testing and challenger models, and liquidity management (including contingency planning, monitoring and stress testing tools).


Gold Sponsor

Situs is a global provider of end-to-end commercial real estate and loan advisory services and integrated solutions, offering customized services to leading financial institutions, investors, owners, and developers. We offer a wide array of services, including enterprise and process improvement, capital markets and commercial real estate advisory, servicing and staffing solutions. Our projects vary in scope and size, but the work ethic that makes Situs a premiere solution provider is constant. We have evaluated over $1 trillion in commercial real estate, resolved over $50 billion in distressed CRE assets and has been the special servicer on over $100 billion of CRE loans. With our recent partnership with Stone Point Capital, Situs looks forward to continuing our legacy of history into a whole new era.

For further information, please visit:

Strategic Risk Associates (SRA)

Gold Sponsor

+1 804 366 1584

Strategic Risk Associates (SRA) is national consulting and advisory firm specialising in the banking and financial services industry.

We help commercial banks and financial services companies with Enterprise Risk Management; Merger and Acquisition Due Diligence; Internal Audit; Bank Integration; Credit Risk Management including Loan Reviews, Stress Test, Credit Training, and Process Improvements; Regulatory Support for Bank Exams, MOUs, and Enforcement Actions; Management and Board Assessments; Strategic Plans; Capital Plans; Board of Director Training, Succession Plans, Staff Augmentation, Mortgage Operations Support, and numerous Other Services.

SRA’s partners and associates have walked in your shoes. We are experienced, former bankers and bank examiners who have held senior level positions in community, regional and national banks and/or regulatory agencies. Our team has the credentials and experience to help solve your issues and build your franchise. SRA’s analysis and recommendations are direct, unequivocal, and unambiguous. Instead of just pointing out problems, we identify solutions to help you address your issues and manage risk through today’s challenging economic climate.

Wolters Kluwer Financial Services

Gold Sponsor


Forward-thinking banks see new regulatory requirements as not just an end in themselves, but as creating the framework for better business management. Wolters Kluwer Financial Services provides banks with an end-to-end solution that fully integrates regulatory reporting and submission with financial risk management, making compliance a seamless part of business practices, and enabling bank executives to focus on the business of managing their banks. Wolters Kluwer Financial Services also provides customers worldwide with risk management, compliance, and finance solutions to help them successfully navigate regulatory complexity, optimize risk and financial performance, and manage data to support critical decisions. Visit

Luncheon Sponsor


Luncheon Sponsor

+41 43 818 6026

EVMTech is a leading provider of analytic risk management solutions to financial services industry. Our stress testing solution Sceneco supports our clients in three key areas of data management, scenario design, and loss & revenue model integration. This ensures a swift and end-to-end approach to managing stress testing process. Data owners submit the data they are responsible for. Business users and economists review projections of macro and financial variables and may enhance them with their forecasts. Stress scenarios are defined for several variables and expanded to all the remaining ones. The results are passed to loss & revenue models to project income and expense items.

The team behind Sceneco enjoys significant recognition from industry thought leaders. Robert Engle, Nobel Prize winner in economics, has endorsed books published by our lead quant. Piotr Karasinski, one of the two minds behind the Black-Karasinski interest rate model, has endorsed the technical superiority of Sceneco.

For further information please visit


ZM Financial Systems


919 493 0029

At ZM Financial Systems your success is our success. We’ll make sure you have what you need to meet both internal and external regulation requirements. Bringing practical solutions to your complex financial problems, we offer on-line and in-house solutions in securities and fixed-income analytics, credit-adjusted ALM, liquidity, risk management, budgeting and funds transfer pricing.

  1. With nearly 1,000 financial institutions using our solutions today, we are one of the fastest growing financial software companies in the U.S.
  2. We have the analytical rigor to tackle securities portfolios as well as full balance sheet risk management with the same powerful system.
  3. We complete client-driven enhancements in days or weeks (versus months or years), working to ensure you have what you need first.
  4. Support ranks highest on our list, right next to innovation. Clients repeatedly tell us our knowledgeable and responsive support staff makes us the logical choice for both large and small financial institutions.
  5. More than 25 percent of our staff have their PhD’s in the advanced quantitative field, and while we are experts in this field, it is company policy to leave our egos at the door.

For further information please visit

Super Early Bird
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September 4
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October 2
Stress Testing USA 2015: DFAST $1,099
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Pre-Congress Masterclass $499
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Stress Testing USA: DFAST + Kamakura Masterclass $1,598
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3rd Colleague HALF PRICE – Group Bookings:

Group rates are available for 2 or more attendees from the same organisation, when registering at the same time. The current rate allows every third colleague to come along for HALF PRICE!

If you would like to register more than 3 people please contact the CFP team on +1 888 677 7007 / +44 (0)207 164 6582 or

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Main Congress: October 27-28 Masterclass: October 26 Main Congress + Masterclass: October 26-28 

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Convene – Times Square

810 Seventh Avenue (52nd & 53rd)
New York
NY 10019


Convene – Times Square is ideally located in the popular central location of NY’s Times Square, where there is easy transport links and a variety of hotels nearby. Below are a selection of some nearby hotels, though you can select a different one to suit taste and requirements on websites such as or

Sheraton New York
+1 888 627 7067
811 7th Avenue 53rd St
New York
NY 10019

 Hilton Midtown
+1 212 586 7000
1335 6th Ave
New York
NY 10019
Club Quarters Hotel
+1 212 354 6400
40 West 45th St
New York
NY 10036
Millennium Broadway
+1 212 768 4400
145 W 44th St
New York
NY 10036
DoubleTree Suites – Times Square
+1 212 719 1600
1568 Broadway
New York
NY 10036


Earn Up To 22.5 CPE Credits

Main Congress attendees can earn up to 15.5 CPE credits and a further 7 CPE credits for attendees of the Kamakura Workshop in the Management Advisory field of study

CFP (Center for Financial Professionals) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:

For further information and to claim your CPE Credits post event please contact or call +1 888 677 7007.

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Gold Sponsors

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Luncheon Sponsor



ZM Financial Systems