The Financial Services Club starts its new season of events next Tuesday, September 8th, with a meeting of the Capital Markets Chamber in partnership with JWG-IT.
The meeting will be a debate on Risk Management and the importance of managing macro prudential reference data correctly in dealing with the new G20 action plan, with the motion: "This house believes that to win the 2011 investment race, the back-office must start NOW."
The Speakers will include Meredith Gibson, Senior Vice President with Citigroup, and John Neasham, Senior Manager with Ernst & Young, and will be chaired by PJ Di Giammarino, CEO JWG-IT Group Limited.
Credit Suisse estimates that the European banking sector has €9 trillion of wholesale funding – 11% of which is in highly liquid assets. Even if regulators make a small change to liquidity and capital levels, the impact on the banks’ return on equity could be huge. How do banks win? Simple, prove that they know their ‘single customer view’ across millions of legal entities is correct and that their assets are so well understood that they are more liquid.
But there’s a fly in the ointment.
Summer research reveals that the number one challenge faced by risk managers struggling to comply with the new G20 action plan is data management. The ‘know your customer’ and ‘know your product’ refrains heard from anti money laundering officers today should echo in credit, treasury, finance and boardrooms with new, granular and more urgent information requirements landing in 1 December. By upgrading their infrastructures, banks can obtain real business benefits and their boards can sleep easier … but will they?
The full list of the 2009-2010 Financial Services Club's events planned to date will be published next week.