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Luxembourg

What Does It Mean to be a Significant Institution Under ECB Supervision?

Overview

In-person or Virtual Participation Available

Under the Single Supervisory Mechanism (SSM), the European Central Bank (ECB) is responsible for the prudential supervision of Eurozone banks: directly for Significant Institutions (SIs), and indirectly (i.e., through national competent authorities – NCAs) for Less Significant Institutions (LSIs).

The transition from indirect (via NCAs) to direct (via ECB) supervision is significant, requiring banks to expend substantial resources, time, and expertise.

This meeting aims to demystify the process and share first-hand experiences and lessons learned regarding ECB supervision.

The session will introduce the audience to the concept of direct supervision along with its challenges, consequences, and pitfalls to avoid. In particular you’ll learn:

•The key aspects of supervision under the SSM

•The transition timeline towards direct supervision

•High-level impacts of the transition

•Points to consider when implementing governance arrangements under ECB supervision

The presentation will be followed by a panel discussion and Q&A session with industry experts who have first-hand experience with transitioning to SSM supervision.

Agenda:

Registration: 5:00-5:30 pm

Welcome and introductions: 5:30 – 5:35 pm

Presentation and panel discussion: 5:35 – 6:15 pm

Audience Q&A: 6:15 – 6:30 pm

FRM and SCR Ceremony: 6:30 – 6:40 pm

Networking reception: 6:40 – 8:00 pm

Meeting Location:

Le Royal Hotel - Luxembourg

12 Boulevard Royal, 2249

Luxembourg

Online details to be provided

Attendees qualify for 1 GARP CPD credit.

Chapter Speakers

Mariusz Krogulewski, FRM

Quantitative Officer - Leading Operations, European Investment Bank (EIB)

Mariusz Krogulewski is a certified Financial Risk Manager with over 13 years of experience in risk management in international banks. His broad academic background includes econometric studies, banking and finance. He joined European Investment Bank (EIB), the biggest multilateral development bank, in 2014 as a credit risk officer and lead expert on stress testing and IFRS 9 models. Mariusz currently works on models and analytics for structured portfolios in Lending Operations Directorate at the EIB. 

Mariusz started his professional career in Royal Bank of Scotland. His role focused mainly on regulatory capital optimization and reporting. He then became a quantitative specialist within the Strategic Risk Anticipation and Capital Department at BNP Paribas, where he was responsible for stress testing framework. He also worked on defining bank’s demand risk profile by setting a structure of limits on concentration risk.

Mariusz is GARP Luxembourg Chapter Co-Director. Mariusz has assisted GARP in writing suitable questions for the FRM exams since 2017.

Fred Mouchel

Independent Non-Executive Director

For the last two years, Fred has been the Chairman of an ECB supervised bank in Luxembourg. He has more than 35 years of experience as executive or director in the wholesale banking industry. Previously he worked for 32 years at JP Morgan Chase in a variety of general management and line of business senior leadership roles in the EMA region. His most recent role was the CEO of J.P. Morgan Bank Luxembourg, where he led the establishment of the Treasury Services branch.

Catherine Janot

Independent Non-Executive Director

Catherine has more than 25 years of experience in financial institutions, insurance, and banking at the Executive Committee level. She previously served as Deputy CEO of Société Générale Bank & Trust Luxembourg and was a member of the authorized management validated by the ECB. She has assisted the Eurozone subsidiary of a Global Custodian in addressing ECB supervisory expectations, in particular with respect to internal governance. Catherine has also assisted banks under direct supervision with regards to Board effectiveness reviews and individual and collective suitability assessments.

Max Malonukhin

Manager, Avantage Reply

Max is a manager within the risk management practice of Avantage Reply in the Luxembourg office. He has more than seven years of experience in the banking industry in the U.S. and E.U. Max has worked with Globally Systematically Important Banks in the U.S. as well as Significant Institutions in the E.U., assisting across areas including stress testing, liquidity, and operational risk. Prior to Advantage Reply, he was a senior consultant with PwC in Luxembourg.

Ryan Davis

Associate Partner, Avantage Reply

Ryan is an associate partner at Avantage Reply and co-leader in Luxembourg with strong risk and regulatory experience across the EU, the UK, and Asia-Pacific. He has experience working directly with the SSM, gained during his time living and working in Frankfurt and led multiple projects to support EU banks with their transition to direct supervision across multiple jurisdictions.

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Details

When

October 12, 2022 5:00 PM - 8:00 PM
REGISTER NOW

Chapter Directors

Adela Baho
Director for Risk Management and Valuation Foresight Group Luxembourg S.A.
Mariusz Krogulewski, FRM
Risk Management Officer European Investment Bank

Committee Members

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