Best Practices in Risk Management (Ended)
As the global capital markets continue to become more complex and interconnected, risk management has never been more important. Join our panel discussion to learn about risk management best practices from a variety of viewpoints. Discover the different types of risk being managed and how to measure portfolio sensitivities to these risks. Understand what goes into forecasting potential market movements and how to embed risk management in the investment process.
You will learn:
- Best practices in risk management from different perspectives – asset manager, fund of funds, endowment, and government plan sponsor
- Primary types of risks being managed including market, liquidity, macroeconomic, and foreign exchange risk
- Stress testing and scenario analysis
- The challenges of big data – distilling risk statistics into actionable intelligence
- Embedding risk management in the investment process - risk tolerance, budgeting, and limits
- Governance and communicating with clients, the board, and other stakeholders
Michelle McCarthy - Managing Director, Nuveen Investments
Mike Edleson, CFA - Chief Risk Officer, The University of Chicago Endowment Fund
Noreen Jones, CPA, CFA, CAIA, FRM - Director of Risk Management, New York State Teachers' Retirement System
David Kuenzi, CFA - Partner and Managing Director, Aurora Investment Management
Jennifer N. Stack, Ph.D. - Head of Risk Management, Managing Director, Grosvenor Capital Management
Members - $45 or FREE with Function Ticket
Student Members - $20
Non-Members - $55
GARP-Chicago Members - $45
(member pricing underwritten by CFA Chicago)
CFA Institute Qualified Activity: Eligible for 1.5 credit hours
Attire: Business Casual
Menu: Refreshments and light hors d'oeuvres
4:00 pm - 4:30 pm: Registration & Networking
4:30 pm - 6:00 pm: Program/Audience Q&A
6:00 pm - 6:30 pm: Informal Networking
Hosted by: Education Advisory Group
Michelle McCarthy has headed the Risk Management function at Nuveen Investments since 2010. Prior roles include Chief Risk Officer at Russell Investments, and Chief Market and Operational Risk Officer at Washington Mutual Bank. From 1986-2003 she worked at Bankers Trust and then Deutsche Bank in roles including derivatives portfolio manager, head of market risk management for Europe/Middle East/Africa in London, and head of risk management for the bank's asset management division. McCarthy has a B.A. from the University of Washington and an M.A. from Harvard University. She serves on the board of trustees of the Global Association of Risk Professionals (GARP), is a member of GARP's Buy Side Risk Managers Forum, chairs the Chicago chapter of 100 Women in Hedge Funds and co-chairs Chicago's GARP Chapter.
Mike Edleson, CFA, is Chief Risk Officer, responsible for risk management of The University of Chicago's endowment. He joined the Office of Investments in early 2010. From 2003-2010, Edleson ran risk management globally for four divisions of Morgan Stanley as managing director, including CRO for Equities and Morgan Stanley Smith Barney. Previously, he worked as Chief Economist and Senior Vice President of NASDAQ and NASD. Edleson was a finance professor at Harvard Business School for over six years, following four years on the faculty at West Point; he also served for nearly 30 years in the US Army. Edleson is a financial author and inventor, and has been co-editor or associate editor of two finance journals. He is on the board of directors of Myriad Funds and Financial Management Association and serves on the investment committee for West Point. Edleson earned a B.S., with highest honors from West Point, an M.S. and Ph.D. in economics from MIT, and is a CFA Charterholder and author of the new CFA Risk Management curriculum.
Noreen Jones, CPA, CFA, CAIA, FRM, is the Director of Risk Management at the New York State Teachers' Retirement System. Jones and her team are responsible for NYSTRS' risk management program, including both investment and operational risks. In this role, Jones is responsible for designing and implementing NYSTRS' risk management framework including: risk assessment, monitoring, and communication procedures. Jones acts as a resource to senior managers and facilitates setting of broad-based policies and developing the System's risk management philosophy, risk appetite, risk tolerance and culture. Prior to joining the risk management team, Jones was responsible for the selection and monitoring of external public equity fund managers and overseeing the transition of assets among asset managers. Her duties included oversight of international equity, domestic equity and manager of manager programs. Jones joined NYSTRS in 1989 and held the position of budget and planning office prior to joining the investment team. Prior to joining NYSTRS, Jones was an auditor for Coopers & Lybrand. Jones received her baccalaureate degree in accounting from Clarkson University and her master's degree from the University at Albany. She is a certified public accountant (CPA), has earned the Chartered Financial Analyst (CFA), Certified in Investment Performance Measurement (CIPM), Chartered Alternative Investment Analyst (CAIA), and Financial Risk Management (FRM) designations. Jones also serves as the president of the Institutional Society of Risk Professionals (ISRP), an independent organization dedicated to addressing the unique investment risk challenges of institutional asset owners.
David Kuenzi, CFA, is Partner and Managing Director of Risk Management and Quantitative Research at Aurora Investment Management, LLC. In this role, he is responsible for tracking macro-economic risks and for developing quantitative and risk models related to the evaluation of hedge funds and hedge fund portfolios, for portfolio risk oversight, and for a variety of functions related to overlay hedging and risk analysis. Until December 2008, Kuenzi served as Head of Risk Management and Quantitative Research at Man Investments (Glenwood). In this role he was responsible for risk management activities, for the development of quantitative techniques for assessing hedge funds and hedge fund portfolios, for overlay portfolio hedging, and for the development of an extensive hedge fund factor modeling system. Prior to joining Glenwood in November 2003, Kuenzi was at Nuveen Investments where he held a number of roles, including Vice President, Research, Development and Risk Management. Prior to joining Nuveen in 1996, Kuenzi was a small-cap stock analyst at Perritt Capital Management. Kuenzi received a B.A. from Western Michigan University, an M.F.A. from the University of Iowa, an M.B.A. in Analytic Finance and International Business from the University of Chicago, and an M.S. in Financial Mathematics from the University of Chicago. He is a Chartered Financial Analyst (CFA) and was formerly an EDHEC Research Associate. His articles on investing, risk management, and derivatives have appeared in The Journal of Alternative Investments, The Journal of Portfolio Management, The Journal of Investing, The Journal of Performance Measurement, and the "Cutting Edge" section of Risk.
Jennifer N. Stack, Ph.D., is Head of Public Markets Risk Management and serves on the Global Investment Council. Stack and her team are responsible for independently reviewing each potential investment manager, assessing the risk in portfolios in conjunction with the Public Markets Portfolio Management Team, and working with the Information Technology Team to build and deploy analytical tools. She graduated summa cum laude with her Bachelor of Arts in Economics and Mathematics from Wellesley College in 2001. She was a National Science Foundation Graduate Research Fellow at Harvard University, where she completed her Doctor of Philosophy in Economics in 2005.
*Special Notes Regarding Fees:
Regular, Candidate, and Affiliate Members may apply function tickets as payment for Non-member or Student-Member. Credit card required to guarantee ALL reservations except for reservations using Function Tickets. Day-of-event registrations accepted on-site only if applicable and space available. There is a $5 surcharge for walk-ins. Visa, MasterCard, American Express, Discover and Diners Club are accepted. Cancellations accepted until 5:00 pm, June 9.
Members of any CFA society may attend at the CFA Chicago member rate. If you are only a member of CFA Institute, you do not qualify for the society member rate.
CFA Institute CE Qualified Activity
This program qualifies for credit under the guidelines for the CFA Institute Professional Development Program.
*Limited Sponsorships available for this program. Please contact Kim Augustyn at email@example.com.
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