London, UK

Risk Management Best Practices for the Modern World


Recent challenges including COVID-19, inflation, interest rate risk, food security, and the Ukraine - Russia war have shown us that as much as we plan to manage risk, we live in a world of uncertainty. It is critical to understand how this impacts the wider economy as well as the risks we are more accustomed to managing. Risk leaders must incorporate newly available tools and knowledge to manage risk successfully.

Sharing risk management best practices, our panel of leading global practitioners will explore:

  • Key risk management trends for 2023 and how to respond to the unexpected
  • How banks' risk management practices are set up to deal with the challenges of liquidity in financial markets, financial and operational resilience, and frequency of market disruptions and stresses
  • Real-world business cases including how risk management balances conduct risk with commercial reality
  • How the increased availability of data is changing our approach to risk management
  • The “ridge backtest” for expected shortfall (ES), which is shown to have unique optimal properties that solve the longstanding puzzle of whether ES can be backtested at all


6:00 - 6:30 pm: Registration

6:30 - 7:30 pm: Panel Discussion with Q&A

7:30 - 8:30 pm: Networking Reception

Meeting Location

America Square

1 America Square, 17 Crosswall

London EC3N 2LB

Attendees qualify for 1 GARP CPD credit.

Chapter Speakers

Carlo Acerbi

Academic Fellow, Department of Finance, Bocconi University

Carlo Acerbi has taught advanced derivatives at Bocconi University, Milan. He joined Banque Pictet & Cie S.A. as Head of Head of Valuation before becoming Head of Quantitative Solutions and Head of Model Risk. Prior to Banque Pictet & Cie, Carlo led the risk management research team at MSCI from its Geneva office. His main areas of responsibility there were risk management, financial regulation, and instrument pricing. Earlier in his career he worked as a risk manager for Banca Intesa and as a financial engineer for Abaxbank, Credito Emiliano Group, both in Milan. He was a senior expert in the risk practice of McKinsey & Co. in Milan.

Carlo is the author of several papers in renowned international journals focusing on the theoretical foundations of financial risk and the extension of portfolio theory to illiquid markets.

Carlo received a Ph.D. in Theoretical Physics from the International School for Advanced Studies (SISSA - ISAS), Trieste, Italy. He began a career in quantitative finance in 1997 with a double track in the business world and the academia.

Thomas Wallace

Chief Risk Officer, Revolut

Tom Wallace is CRO of Revolut UK, having led the Group Financial Risk function since 2021. He has nearly 20 years of experience in risk management within industry and consultancy.

Before joining Revolut, Tom was a partner in the risk function at McKinsey, where he helped build the Risk Dynamics team focusing on risk analytics and model governance as well as serving top-tier clients on sustainability and climate risk topics. Prior to this he provided quantitative advisory services to banks and insurance firms as part of the PwC actuarial practice.

Tom is a Fellow of the Institute and Faculty of Actuaries and holds an MA in Mathematics from the University of Cambridge.

Sreekumar Gullapalli

Director of Risk, Finance and Treasury, NatWest

Sreekumar Gullapalli is Director of Risk for Finance & Treasury at NatWest. His responsibilities include oversight of non- traded market risk, counterparty credit risk, capital, liquidity and funding, recovery, and resolution for the group and operational risk and regulatory compliance for finance. He has over 20 years of banking experience split between front office trading and risk management.

Prior to joining NatWest, Sreekumar worked at Bank of America and AIG Financial Products in Tokyo, Singapore, and London. During his tenure at NatWest, he was the Head of Market Risk for Asia and Head of Market Risk for FX and Pensions.

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March 1, 2023 6:00 PM - 8:30 PM

Chapter Directors

Maurizio Garro
Model Risk Manager - Quantitative Research Lloyds Banking Group
Adolfo Montoro
Director Global Risk Analytic team Bank of America

Committee Members

Harshwardhan Prasad

Vice President Internal Audit Quant Analytics Group Morgan Stanley

Qingrui Meng

UK Legal Entity Risk Manager SVP – UK CRO Office Citigroup

Konstantina Kappo

Associate Professor of Finance Programme Director MSc Financial Risk Management ICMA Centre Henley Business School University of Reading

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