A Nuanced Perspective on Risk in the Age of COVID-19

Know Thy Liquidity (KTL) and the Changing Definition of Default (CDD)

Key Takeaways

In a fast changing economic environment, the very definition of default is changing.  Central Bank led stimulus programs may be able to mask a troubled sector in the short term.  In addition, only when a payment is past due by 90 days, we have to determine the Exposure at Default (EAD) for a given Counterparty.  However, if Liquidity dries up, there can be dire consequences for a financial institution. 

Thank you to AxiomSL for providing this webinar to the PRMIA community.

 

 

Speakers

Harry Chopra is the Chief Client Officer of AxiomSL. He joined the company in 2017 and is based in New York City. Bringing more than 30 years of experience in global sales and financial services, Harry is responsible for overseeing AxiomSL’s global business development efforts, implement go-to-market stategies and build worldwide client-driven growth.

Prior to joining AxiomSL, Harry was the Chief Commercial Officer for Credit Benchmark, where he developed the concept of consensus credit estimates by working with the Chief Risk Officer and Chief Credit Officer community across national, regional, and global banks.  Before that, Harry led the global sales and client services function for S&P Capital IQ.  Besides these roles, he also served as the head of International Retail and head of Institutional Marketing at Citigroup Asset Management.

Harry received his Bachelor of Art in Mathematics, with a minor in Economics, from the University of Delhi, and he holds an MBA in Marketing and Information Systems from The University of Michigan.

Don Mumma oversees the risk management practice at AxiomSL. Prior to AxiomSL, Don spent 20 years as a financial services executive, market participant and risk management specialist with JPMorgan Chase, Credit Suisse and Toronto-Dominion Bank, where he spearheaded its entry in the US market. 

Don holds a B.Sc. in finance from Miami University and an M.B.A. in finance from Ohio State University. He is an active member of a number of professional organizations including PRMIA and IAFE.

John Vanyo is a VP of Liquidity Risk at U.S. Bank.  Over the past 6 years John has been instrumental in building extensive internal and external liquidity reporting processes, ensuring compliance with the Liquidity Coverage Ratio, FR 2052a, and Liquidity Stress Testing.  Leveraging the data for these reports, John and his team are also responsible for cross functional data and analytics support, providing thought leadership across the broader Corporate Treasury organization. 

John has 15 years of banking experience. Prior to his role in Liquidity Risk, John held positions in operations, SOX reporting, capital markets support, and market risk.  He holds both a B.A. and an M.B.A. in Finance from the University of St Thomas.
 
Adam Heilemann is a Managing Director and Head of Liquidity Management at State Street Bank & Trust.  Adam has 20 years of experience in market and liquidity risk, treasury and financial services. At State Street, Adam is the Head of Liquidity Management and is responsible for managing the liquidity position, collateral management, liquidity optimization, and oversees liquidity reporting.  Prior to joining Global Liquidity Management, Adam held a variety of positions at State Street in Global Treasury and Global Markets including roles in asset management and securitization. 

Adam holds a bachelor's degree from St. Lawrence University, a master’s in business administration from Duke University and a master’s in public administration from Harvard University.


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