GARP European Financial Risk Symposium 2025

José Antonio Álvarez is the vice-chair of the board of directors of Grupo Santander. He is also Board Member of PagoNxt and AON plc. Mr Álvarez was Group CEO until 2022 and vice Chair of Banco Santander (Brasil) until 2024. Prior, he had directed Group’s Finance Division from 2002 to 2004 and 

acted as Group CFO until 2015. Before joining Santander, he had directed the finance division at Argentaria (1995-1999) and then BBVA (1999-2002), served as CFO at Banco Hipotecario de España and as Vice-President of Finanpostal Gestión Fondos de Inversión y Pensiones, and worked at Banco de Crédito Industrial and Instituto Nacional de Industria.

Mr Álvarez has sat on the boards of directors of Santander Consumer Finance S.A, Santander Consumer Bank AG, Banco de Crédito Local S.A. and others, and on the supervisory boards of Grupo Santander’s autonomous subsidiaries in  Poland, Germany and the US. He was also chairman of the European Banking Federation Banking Supervision Committee from 2009 to 2012.

Mr Álvarez holds a bachelor’s degree in Economics and Business from the University of Santiago de Compostela, and an MBA from the University of Chicago.

José Manuel Campa is the current Chairperson of the European Banking Authority.

After studying law and economics at the University of Oviedo and earning his PhD in economics from Harvard University, Mr. Campa taught finance at New York University and the IESE Business School and consulted for a number of international organisations including the World Bank, the IMF, the Bank for International Settlements and the European Commission. 

He then served as the 10th Secretary of State for Economy of the Spanish government and was most recently Director of Regulatory affairs of the Santander Bank.

Prior to StepStone, Mr. Frei was the head of quantitative research at a Swiss public financial company. Before that, he was a research assistant at the Swiss Federal Institute of Technology (ETH) Zurich and Northwestern University. Previously, Mr. Frei was an applications engineer at Landis and Gyr.

Mr. Frei received his PhD from ETH Zurich, his MS in electrical engineering from Northwestern University and a diploma in electrical engineering from the University of Applied Sciences of Northwestern Switzerland.

Andrei Greenberg has been leading BNP Paribas’s Market & Counterparty Risk Internal Models team, known as SIGMA, since 2020. He began his career in 2002 as a credit quant at Lehman Brothers, before moving to Rabobank to help set up a structured credit trading desk there. In the aftermath of the 2008 credit crisis, Andrei worked at the BNP Paribas risk analytics team, where he developed the model for calculating the CRM capital charge. He then spent 3 years as a fixed income desk quant at UBS. Returning to BNP Paribas in 2013, he initially focused on transversal topics in market and counterparty risk methodology, before going on to the Bank’s FRTB risk modelling projects. 

Andrei holds a degree from the Moscow State University and a Ph.D. from the California Institute of Technology, both in Applied Mathematics.

Lorenzo is currently Head of the Risk Methodology and Valuation department at UniCredit Group. Over the years, he has gathered extensive experience on derivatives pricing models, risk measures and regulatory requirements, transitioning from a pricing-oriented background to the implementation of Basel compliant Internal Models. 

His current responsibilities cover the development and maintenance of Market, Counterparty, Valuation, Interest Rate Risk of the Banking Book and Liquidity Risk models under both Pillar I and Pillar II.

Lorenzo’s responsibilities also extend to XVAs, Fair Value Adjustments, and Additional Valuation Adjustments, SIMM, as well as oversight of the Asset Management business (Board Member at Structured Invest)

Darren Massey leads the Market and Counterparty Credit Risk Policy team at the Bank of England. He is responsible for the UK’s prudential framework related to market risk, counterparty credit risk, CVA, non-cleared margining and IRRBB. He also represents the Bank at the BCBS Market Risk Group, and the BCBS/IOSCO Working Group on Margin Requirements for non-cleared derivatives.  

Darren joined the team in 2017, and has been involved in key prudential risk management reforms in the UK during this time. This includes UK requirements for SA-CCR and bilateral margining, Basel 3.1 proposals on market risk and CVA, as well as policy responses to COVID and EU withdrawal.    

Prior to this he has held roles in CCP policy and CCP supervision at the Bank, and policy roles at the Reserve Bank of Australia.  

Since 2017, Orestis has been with Deutsche Bank in London, where he currently serves as Head of Prudential Policy within the bank’s Government and Public Affairs division. In this role, he engages with policymakers and regulators at the global, EU, and national levels on a range of current and emerging policy issues. His areas of focus include Basel III, securitisation, non-bank financial intermediation, and the global competitiveness of the banking sector.

Orestis holds a background in international and EU politics, having studied in Greece, Germany, and at the College of Europe in Bruges. He brings 15 years of professional experience in financial services and regulation, having previously worked at the European Commission in Brussels and the European Banking Authority in London.

Lars Jul Overby is Head of the Risk-based Metrics (RBM) Unit in the Prudential Regulation and Supervisory Policy Department of the European Banking Authority (EBA). He is currently responsible for the work on implementing the mandates given to EBA work under the EU Banking Package, in particular as regards credit, market and operational risk. As part of his work, he chairs several EU and Basel working groups. Prior to joining the EBA, he worked in Nykredit, Denmarks Nationalbank, ECB and Nordea. He holds a PhD from the University of Copenhagen in empirical market microstructure.

Sebastian is heading the division QRM 2 (Quantitative Risk Modelling – Market Risk and Artificial Intelligence) at BaFin, the German national supervisory authority for financial institutions. In this role, he is responsible for the supervision of market risk, AI models and credit institutions. Prior to that, Sebastian held various roles at the Eurozone’s Single Supervisory Mechanism (SSM), employed by both BaFin and the ECB, focusing on the supervision of market risk and counterparty risk at large international investment banks. In that context, he has participated various working groups at Basel, EBA and ECB level, dealing with modelling and risk management of counterparty credit risk, with major focus on NBFI exposures. Currently, Sebastian is co-chairing a working group at the SSM to harmonize the supervision of CVA models. 

Sebastian holds a master’s degree in Mathematical Finance from Oxford University.

Nicolas Cerrajero has been a partner at Forvis Mazars UK since 2020, where he leads the Market and Counterparty Credit Risk quantitative Solutions team. 

With over 15 years of experience in the industry, he has held various roles across front office and risk, model validation, and model development. 

Prior to joining Forvis Mazars, Nicolas served as Head of Counterparty Credit Risk Modelling at Deutsche Bank.  

Joo-Yung Lee is a Managing Director, Global Head of Financial Institutions at Fitch Solutions. Prior to joining Fitch Solutions, Joo-Yung served as the regional head of Fitch Ratings’ North American banks group and global trading and universal banks (GTUBs), as well as regional head of North American financial institutions (NA FI).

She also served as a sector head in Fitch's NA FI group focusing on securities firms and asset managers, while also co-heading Fitch's GTUB working group. Previously she served in Fitch's Credit Policy Group as a Group Credit Officer, a lead analyst in the financial institutions group and the financial guarantors group.

Before joining Fitch in 2006, Joo-Yung was a Vice President in both the Financial Planning and Analysis and Capital Strategies groups at Radian Asset Assurance Inc. She has also worked at Moody’s Investors Service, Credit Suisse First Boston and the Federal Reserve Bank of New York.

Joo-Yung is currently serving as a board member for the Capital Markets Credit Analysts Society.

Joo-Yung is a graduate of the Hearst Management Institute, the Hearst Corporation’s executive training program.

Joo-Yung earned her BA from Barnard College and her MPA from Columbia University.

Katherine Wolicki is the Global Head of Engagement and Outreach for GARP Benchmarking Initiative (GBI). GBI plays a key role in supporting evidence-based policymaking through the provision of industry benchmarking studies. Prior to this she was with HSBC for 12 years where she led the Global Financial and Model Risk Regulatory Policy and Engagement team for Risk. The team was responsible for the external regulatory interface for the Traded Risk, Treasury Risk Management and Global Risk Analytics function. This included the provision of guidance on regulatory risk matters, regulatory policy interpretation and industry engagement.  Prior to this she was based in Brussels as a Public Affairs consultant specialising in financial services regulation. Katie has an MA in International Economic Relations from American University and a Maîtrise in European and International Law from the University of La Reunion. She is a fluent French speaker and an avid hiker and mountaineer.