Head of operational risk, Asia
Nomura International (Hong Kong) Limited, Hong Kong
Global Head of Operational Risk, Asia-ex-Japan, 2019 – present
- Oversee and manage the implementation of Nomura’s global Operational Risk Framework.
- Manage a global team of 50 globally.
- Develop the firm’s risk appetite.
- Report to the Nomura Board top and emerging risks.
Head of Operational Risk Management, Asia ex-Japan, 2015 – present
- Oversee and manage the implementation of Nomura’s global Operational Risk Framework in Asia-ex Japan. The Operational Risk Management framework covers regional Wholesale, Wealth, Retail Brokerage and Asset Management businesses in over 8 countries.
- Manage team of 7.
- Provide senior management with overview of the Operational Risk profile for AEJ, highlighting top operational risks and emerging risk. Developed new methodology for identifying and reporting on Top Risk for the region that has improved regional management engagement.
- Face-off to the firm’s regulators including HK SFC, Singapore MAS as well as regulators in branch countries (India, Korea, Taiwan, Malaysia, Australia, and Thailand). Provide details on the firm’s operational risk profile and assurance around robustness of the operational risk framework.
- Oversee and participate in high profile internal investigations as member of the Internal Investigation Committee. Conduct forensic deep-dives and interviews on varied cases such as potential fraud, whistle blowing, client complaints and market abuse.
- Lead global projects on Key Risk Indicators, Risk Taxonomy and Control Framework.
Head of New Business, Asia ex-Japan, 2018 - present
- Oversee and manage the implementation of Nomura’s New Business Approval framework in Asia ex-Japan. This includes the new product approval, significant transaction approval and reputational risk committees.
- Manage team of 6 (4 Vice-Presidents and 2 Associates).
- New Business Group ensures appropriate control, governance and challenge around new business initiatives. Team reviews feasibility of new product and transactions proposals, challenges front office around key risks and mitigants, financial resource usage, reputational risk and quality of due diligence.
- Face-off to heads of business to challenge around key strategic risk and due diligence issues.
- Manage development of Approved Product List for internal and regulatory use.
Chief Administrative Officer Risk Management, Asia ex-Japan, 2015 – present
- Co-ordinate and manage annual budget submissions and investment plans and monitor spend against budget. Identify areas of cost savings.
- Manage team of 2 (1 Executive Director and 1 Associate).
- Prepare presentations for AEJ CRO for bi-annual town hall meetings, regulatory interactions and executive management presentations.
- Oversee key change projects, FinTech initiatives and remediation of control issues.
Nomura International plc, London, UK
Global New Business Division COO, 2012 – 2014
- Drafted the Group New Business Approval Policy covering Wholesale, Asset Management and Retail Divisions by working with group company executives such as Global CFO, CLO, CRO and business division management. The policy was approved by the group Board and was the first group wide policy for new business approval for the firm.
- Developed a new product and complex transaction approval process for the Global Wholesale business by working with business leadership in Global Markets and Investment Banking. Created procedures, led IT development of a workflow tool and an approved product database and developed global training. Resulted in a globally consistent approach to new product approval and increased efficiency in approval of cross-border business.
EMEA Head of New Business, 2011 – 2014
- Implemented new product and transaction approval in the EMEA business by managing a team of 7 (1 ED, 3 VPs, 3 Associates). Improved efficiency and control around the approval processes by documenting procedures and reducing bureaucracy as measured by improved turn-around times, positive feedback from business lines and reduction in operational risk events or errors as a result of new product launches.
- Led interaction with and managed regulatory audits conducted by Bank of England (PRA), UK Financial Conduct Authority, Bank of Japan and JFSA. Successfully provided assurance to regulators of the robustness of new product approval process as measured by limited remediation points during a period when regulators were requesting external audits on all focus areas.
- Improved oversight of risk and returns of new and complex products by developing product back-testing, whereby revenue generated by products were assessed after one year. Presented findings to regional Board and business leadership, resulting in certain non-performing businesses lines being discontinued or altered. As a result, management was provided assurance that business lines were accountable for introducing new products, processes and operational risks to the firm.
Senior Risk Manager, Operational Risk Management, 2009 – 2011
- Implemented the Operational Risk Framework in Global Markets and Investment Banking following acquisition of Lehman Brothers EMEA business. Worked with business line COOs and managed operational risk team of 3 individuals to develop the risk and control self-assessments by desk, implement key risk indicators and operational risk event investigation and reporting. Operational Risk Framework was rolled-out to the businesses lines within 6 months of integration.
- Initiated and developed reporting for monthly risk and control meetings by regional business line which reviewed the operational risk profile front to back with representatives from all corporate departments, resulting in improved ownership of operational risk. Expanded regional meetings to global product lines by working with Global Heads of Trading and corporate departments, coordinating with regional ORM and developing a cross-regional aggregated risk profile. Meetings were led by head of business, demonstrating ownership of Operational Risk by first line of defense.
- Created front-to-back trade process maps by aggregating information between IT, Operations, and trading. Documented key controls and manual processes, which provided senior management with detailed view on infrastructure requirements.
Deloitte & Touche, London, UK
Manager, Financial Services Advisory, 2006 - 2009
- Advised clients on implementation of credit, market and operational risk management frameworks; advised clients on implementation of Basel II and CRD requirements. Clients included leading universal banks, investment banks, asset managers, hedge funds and regulators.
- Advised on the integration of the operational risk management function with corporate security and technology risk for a leading European universal bank. Assisted in integrating Sarbanes-Oxley procedures into operational risk functions.
- Developed credit risk policies and procedures for a US bank starting a new deposit taking and lending institution in the UK.
- Project managed implementation of transaction reporting tool for a leading Swiss investment bank.
- Assisted a European brokerage in developing counterparty, operational and credit risk management around its margin lending business.
- Developed and implemented the internal capital adequacy assessment process (ICAAP) for more than 10 banks, investment managers, securities brokers and asset managers.
- Developed a post-merger target operating model and project plan for the integration of global Compliance functions of two leading banking groups.
- Clients included UBS, Lloyds, ING, Barclays, RBS and various investment managers.
Export-Import Bank of the United States, Washington, DC, USA
International Business Development Office, 2002 - 2004
- Conducted marketing and sales activities to increase Ex-Im Bank financing in southeast Europe. Oversaw an increase in business activity by 90% and 75% in 2002 and 2003, year on year.
- Arranged and structured and trade finance with banks, private companies, and governments. Arranged balance sheet loans, letters of credit, secured lending, and project financing.
- Analyzed financial statements and cash flow projections to determine creditworthiness of counterparties and projects.
- Organized and implemented various marketing events, including Ex-Im Bank’s “Southeast and Central Europe Regional Conference” in Bled, Slovenia, which drew 250 attendees from regional governments, central banks, businesses and financial institutions.
Co-founder and general counsel
David is a Corporate Governance, Risk Management, Compliance and Legal professional with extensive experience in financial services & banking reporting to the CEO.
With diverse exposure to a broad spectrum of customers (from retail, to business, institutional and government), across an array of financial products & services (including lending, deposits, cards, advice, securities, Managed Investment Schemes and everything in between), via a smorgasbord of material risk categories (operational & compliance, financial crimes legal, strategy, technology related, credit, capital & liquidity focussed) and having worked in a variety of organisations (from the biggest bank in Australia, the mutual banking sector, starting a fintech company and commencing his career in corporate law firms) - David prides himself on being a strategic business enabler with razor sharp commercial acumen and genuine customer centricity.
Khang Nie Lee
Regional chief risk officer
Head of financial markets infrastructure, directorate general financial stability, financial services and capital markets union
Patrick Pearson is Head of Unit of Financial Markets Infrastructure in the European Commission’s Financial Stability, Financial Services and Capital Markets Union Directorate General. He previously headed the Resolution and Crisis management teams and was responsible for the Financial Services Action Plan.
Before joining the European Commission in 1987, Patrick Pearson worked for the legal service and the foreign financial market affairs divisions in Dutch Finance Ministry in The Hague.
He has a law degree from Leiden University in the Netherlands.
Dr. Jeevan Perera is currently the Risk Manager for the Orion space vehicle. The Orion is NASA's new spacecraft which will replace the Space Shuttle, service the International Space Station, and then return astronauts to the moon and eventually mount expeditions to Mars. Dr Perera has been with NASA for 20 years. In his current capacity, he is responsible for risk management policies, processes and analytical tools that ensure the successful deployment and operations of this new spacecraft. He oversees both quantitative and qualitative risk analysis processes and provides technical direction to a team of risk analysts. Formerly as the International Space Station Risk Manager, he designed, developed, implemented and improved the Program's risk management processes through a phased, systematic approach setting the standard for NASA’s risk practice. Prior to his work in risk management, he has worked in different technical fields in support of many NASA programs and projects. These duties have included management responsibility for versions of the primary and back-up flight software for the Space Shuttle and development responsibility for other software used aboard Space Shuttle and International Space Station missions.
Dr. Perera has been a member of the Board of Trustees for a local homeowners association, has provided legal advice to the United Space School, a foundation for international space education that brings student from around the world for focused classes on space related disciplines. He often presents on space topics at schools, universities, public events and international conferences. Dr. Perera has both a Jurisprudence Doctorate (law) and a PhD in Industrial Engineering.
General counsel & head of compliance
Ritankar Sahu is the General Counsel & Head of Compliance at MAXpower Corporation, Asia's leading gas to power specialist and a key developer, owner and operator of small to medium gas-fired power plants. In addition to providing strategic business governance counsel to the Board, Ritankar focuses his practice on energy projects development, turnaround management, FCPA enforcement and special situations M&A. Prior to joining MAXpower, Ritankar was the Regional Corporate Counsel for Jacobs Engineering Group’s Asia operations, based in Singapore and Mumbai. He has also worked for Norton Rose (now Norton Rose Fulbright), at the firm’s London and Abu Dhabi offices with a practice focus on projects and project finance.
Global chief information security officer
Chief operating officer
Mohit is a seasoned Risk & Operations professional with over 17 years of multi-country experience in Asset Management, Life Insurance & Consumer Banking industries. Working across the key developed and emerging markets of Asia (Singapore, Hong Kong, Malaysia & India), Mohit has held senior positions in leading global organisations like Prudential UK and General Electric (GE).
Starting his career with GE Capital in India, he worked across Sales, Operations and Six Sigma functions before going on to head the risk team in the country. Later he joined Prudential group to establish the Risk Management function for its life Insurance business in India. Subsequently he moved to Singapore as ‘Head of Operational Risk and Financial Crime Compliance' functions of Singapore and Hong Kong businesses of Eastspring Investments, the asset management arm of Prudential Plc. In 2015, he moved to Malaysia as the Chief Operating Officer of Eastspring Investments Berhad and heads Retail & Fund Operations, Client Servicing & IT Functions.
Mohit is a certified Six-Sigma Black Belt and also a Claritas Certificate Holder from the CFA Institute.
Regional chief risk officer
Urban is a Swiss national who graduated from Basel University with a degree in law, then started his banking career as a trainee with Swiss Bank Corp in Basel in 1986. Following various assignments in Basel and Geneva in different areas of credit risk, he became regional head of credit risk control for private banking in Geneva. Following the merger with UBS, Urban was appointed regional head of credit risk control in New York in 2000 and in Singapore 2005. After a "gap year" with UBS in Switzerland in 2009, he was appointed regional chief risk officer for Barclays Wealth Asia in 2010, again based in Singapore covering credit risk, operational risk and governance. Following the sale of Barclays' wealth business in 2016, Urban was recruited as regional chief risk officer for EFG Bank in Singapore in 2017 covering credit, operational and market risk.
Chief risk officer
Tokio Marine Life Insurance Singapore
Philip Woo is the Chief Risk Officer and oversees corporate governance and risk management in Tokio Marine Life Insurance Singapore (TMLS). He has over 26 years of experience in the financial sector, and began his career at MAS before joining the insurance industry. Over the period, he has played leadership roles in Enterprise Risk Management (ERM), Business Continuity & Crisis Management, Outsourcing/Vendor Risk Management and Technology Risk Management (TRM). He currently chairs the Governance, Risk and Compliance Committee (GRCC) at TMLS, and oversees the managing of operational, financial and strategic risks in the company. In addition to risk management, Philip has a wealth of experience in strategic planning, financial technology and payment system matters.