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Climate change: Risk management and scenario analysis (recording available)
November 30, 2021 @ 1:00 pm – 2:00 pm GMT
In collaboration with HSBC, this event was designed to help non-executive directors of financial institutions understand how to approach climate risk in the board debate and ensure that their institutions develop an appropriate climate risk governance and framework.
This session looked at how to approach climate risk governance, how this affects a bank’s risk appetite and risk framework, and how climate risk impacts business and strategic decisions.
We also focused on climate scenario analysis and climate stress tests, which are being announced or planned by an increasing number of regulators worldwide.
This was part of our event series designed for financial sector NEDs and was moderated by Francesca Tondi Guy, former banker, and non-executive director and ESG Committee Chair of UniCredit, with contributors Andrea Federico, Partner, Oliver Wyman, Jennifer Tsim, Partner, Oliver Wyman and Raf Hussain, Managing Director, Global Head of Strategic Planning and Stress Testing, HSBC.
Francesca Tondi Guy, former banker, and non-executive director and ESG Committee Chair of UniCredit
Francesca is Non-Executive Director on the Board of UniCredit group, where she chairs the ESG Committee and sits on the Risk and Audit committee. As Chair of the ESG Board Committee Francesca is leading the ESG debate at board level and is responsible for promoting the ESG angle to the Group’s business strategy.
Francesca is also Global Financial Sector Lead for the Climate Governance Initiative, and a member of both Chapter Zero UK and Chapter Zero Italy.
She is advisory Board member of Angel Academe a UK’s leading Business Angel investor network, and sits on the board of other non-listed companies.
Francesca spent her executive career in major US investment banks (Morgan Stanley, JPMorgan) with fifteen years at managing director level. She has had direct experience in advising finance ministries, divisional heads of European central banks, regulatory bodies, and provided strategic advice at CEO and board level of major European banks.
Andrea Federico, Partner, Oliver Wyman
Andrea is a partner at Oliver Wyman – a global consulting firm.
He has over 20 years in advising financial services firms and authorities on matters concerning financial stability, crisis handling, anti-trust et al.
Andrea is currently a visiting fellow at the EUI in Fiesole Italy, where is also co-director of the Climate Risk and Anti-Money Laundering Academies at the Florence School of Banking and Finance.
Jennifer Tsim, Partner, Oliver Wyman
Jennifer is a Partner in the Financial Services and Digital Practices in Oliver Wyman’s London office, with experience consulting with private, public sector and not-for-profit organisations, primarily in the UK, Europe and the Americas. Jennifer is deeply involved in Oliver Wyman’s response to climate change and sustainability, leads the firm’s social impact engagements in the UK and Ireland, and co-leads its conduct platform in EMEA and its economic crime work in the UK
Raf Hussain, Managing Director, Global Head of Strategic Planning and Stress Testing, HSBC
Raf has a focus on the integration of scenario analysis to drive financial and capital planning decision making. He is responsible for developing and driving out HSBC’s Climate Change Scenario & Stress Testing capabilities. He has an extensive experience across Risk Management and Banking.
Raf was previously a Partner at PwC focussing on Stress Testing and Risk Modelling.