Agenda

9-10 September 2020 - London, UK

Day 1 - 9 September 2020

Morning Pre-Conference Sessions

8:00 - 9:00

Registration & continental breakfast

9:00 - 12:30

CCRO Members Meeting

By invitation only.  For more information, contact Bob Anderson, Executive Director, CCRO at bob.anderson@ccro.org

12:30 - 14:00

Lunch & Networking

14:00 - 14:05

Welcome remarks

Speaker:

Howard Walper, President, Alpha Insight

14:05 - 15:00

Panel discussion:  2020 Vision - The evolving role of the risk function

What are the tenets of today’s risk function and how do they truly add value?

  • Defining the role, function and responsibilities of the risk function – commonalities and differences between companies

  • How does the risk function add and demonstrate value?

  • What new risk exposures need to be managed?

  • How is technology and digital impacting risk?

  • Managing reputational risk to ensure future business success

  • What risks are still being managed as a consequence of Brexit?
     

Speakers:

Novera Khan, CRO, Uniper
Petter Kapstad, Senior Specialist Risk Management, Statoil
Nazim Osmancik, CRO, Energy Marketing and Trading, Centrica
Ben Baglin, Global Head of Market Risk, EDF Trading

15:00 - 15:30

Presentation: Managing risk at the back of the curve - being prepared to be wrong and understanding what can be done when it does go wrong

This presentation will focus on how the risk manager can support the front office and challenge assumptions when managing long term price risk

  • How can the back office provide support to the front office when determining value of long-term illiquid products and allocating risk capital?

  • Tools and products to hedge and access liquidity at the back of the curve. Who is willing to provide liquidity?

  • Incentivising traders to do the right thing and originate deals for the business over the long term – how to judge that the deal is a good deal for the company?

  • Identifying and offloading risk when it does go wrong

Speaker:

Fabian Rodriguez, Risk Manager and Member of Leadership Team, ENBW

15:30 - 16:00

Networking break

16:00 - 17:00

Panel discussion: Embedding risk resilience at every level of the organisation through mindset and behaviour of people

Role of people and culture to enhance risk resilience across the organisation

  • What skill sets and traits are required in today’s risk function? How do you attract this talent?

  • How can you foster qualitative, ‘outside the box’ capabilities in your team? How do you ensure your risk team is continually improving?

  • Developing well-defined practices for an effective risk oversight committee  - who should be on it?

  • How does risk most effectively interact with other company functions to add value?

  • Getting buy-in of desk heads and business leads

  • Reporting risk up the line – how do you most effectively communicate with the CFO?

  • Benchmarking your risk maturity, risk culture and risk resilience

Speakers:

Roald Schennink, Market Risk Manager, Koch Supply & Trading
Vincenzo Collarino
, Group Controller and Chief Risk Officer, Edison
Andreas Schuler
, CRO, Vattenfall
George Axiotis
, Head of Risk, innogy

17:00 - 17:30

Presentation: Aligning risk and compliance capabilities to protect markets from abuse and manipulation 

  • What systems and processes can you put in place to strengthen frameworks around market abuse and manipulation? How do you educate traders?

  • How can risk and compliance work together to deploy controls effectively and ensure lines of defense are aligned?

  • Role of artificial intelligence in automating tasks and providing greater insight

Speaker:

Josef Bogensperger, Principal Risk Manager, Verbund Trading

17:30 - 19:00

Drinks reception

Continental breakfast

8:00 - 9:00

Day 2 - 10 September 2020

9:00 - 9:30

Presentation: Internal benchmarking – The CCRO Key Risk Indicators (KRI) Initiative

The CCRO has an on-going initiative to gather internal deal entry error statistics from its members for the purpose of providing anonymous benchmarks for a type of operational risk.  CROs know that deal entry issues create unwelcome consequences for risk and credit reports, collateral management, accounting batches, confirmations, and invoices.  With this benchmarking data in-hand, it is possible to uncover hidden problems with procedures and systems that may foretell much larger risks at hand.

Learn about:

  • How this CCRO benchmarking progam has developed

  • How CCRO companies have been using this unique data for internal improvement programs, incentives for traders, and more 

  • How you can participate in this program and gain access to the benchmarking data online

Speaker:

Bob Anderson, Executive Director, CCRO

Risk in the age of digital transformation

9:30 - 10:45

A series of quick fire case studies on how technology, big data and analytics are revamping operating models, enabling new trading strategies and throwing up new risks. Opportunities for big data, analytics and algos to manage risks and enable new business models in energy trading.

  • Transforming the digital platform for trading and risk management:  How do you build an agile execution organisation that can transform your digital landscape across front middle and back office? What are the best use cases and the value drivers for automation and analytics? Effective data and model governance in an agile organisation?

  • Algorithmic trading as a source of risk: Modelling risks to ensure it won’t crash your company or entire market.  Understanding how algo trading will evolve and adapting your planning. How do companies identify and assign areas of responsibility?  How do you switch it off when it starts burning the house down?

  • The potential for blockchain in energy trading and risk implications:  Potential applications and current projects. Limitations and risks to be managed

Speaker:

Peter Larsen, Head of Data & Analytics, Orsted

Speaker:

Frédéric Degraeve, Algo Trading, Senior Specialist, Engie

10:45 - 11:45

Networking Break

11:15 - 11:45

Risk awareness and new business facilitation

  • Complexity of a trading organization and the evolving role of risk

  • Enhancing value working in an integrated way

  • Financial and non-financial risks along the deal lifecycle

  • From risk detection to risk prevention

Speaker:

Alessio Pecorella, Head of Trade Control & Operational Risk, Eni Trading & Shipping

11:45 - 12:15

Understanding the evolving LNG market and impact on the energy landscape in Europe

What is the visible impact of the changing LNG supply market conditions on Europe’s energy markets?  How have buyers needs and demands changed and how can you respond to these? What tools and products do you need to trade and hedge the risks?  Managing price risk in the absence of a clear benchmark.

Speaker:

Peter Abdo, Managing Director, Global Head Origination & LNG, Uniper Global Commodities

12:15 - 13:15

Lunch & networking

Track 1

Gas and Power Track

13:15- 15:00

Forecasting short term power price to determine and manage risk

Speaker:

Derek Bunn, Professor of Decision Sciences, Management Science and Operations, London Business School

  • Macro drivers of power price risk

  • ML and AI tools available for forecasting and data analysis – what’s been done?

  • New techniques for forecasting daily and intraday power price risk

Managing gas and power portfolio exposure to climate risk and deploying weather hedges

  • How has climate change impacted energy trading risk management?

  • How useful is the past in forecasting the future?

  • Hedging the extremes

  • Cost of deploying weather hedges as view on seasonal norms widens

Speaker:

Charles Pearce, Origination and Complex Gas Portfolio Manager, Npower

Black swans? Dragon King? Green swans? Identification of unexpected events for managing risks

  • Commodity developments in a changing world

  • Extreme events definitions and case studies

  • Risk management framework and implementation

Disruptors, geopolitics and infrastructure

Speaker:

Elisa Scarpa, Head of Market Analysis, Structuring & Pricing, Edison

  • Russia and EU gas supply

  • Asian gas demand

  • Impact of competitive fuels (coal, LPG, LNG) in the international markets

  • Aging pipeline infrastructure

Track 2

Speaker:

Sid Jain, Risk Manager, EnBW

13:15 - 15:00

Crude and Refined Products Markets

Crude and refined products pricing and markets overview

  • Market performance and future outlook

  • Overview of global political risks

  • Price risk management

IMO 2020 update

Speaker:

Peter Helles, Commodity Strategist, Bank of America Merrill Lynch

  • Who has succeeded and who has struggled as IMO 2020 has been adopted?

  • How have crack spreads played out versus the forecasts?

  • Forecasts and strategies for pricing and hedging as we move forward

The challenges we face in 2020 – old challenges remain, new challenges emerge

Speaker:

Greg Newman, CEO, Onyx Commodities

  • Risks from increased digitalization and automation

  • Information asymmetry getting worse?

  • New opportunities and new risks

  • How can risk professionals add value

Speaker:

David Jan, Global Crude Risk Lead, Equinor

Managing policy response and exposure against a backdrop of geo-political turmoil and volatility in the global trade environment

  • Consolidating an accurate visible exposure of your business to sanctioned entities

  • How can you respond and escape these risks on a proactive basis? What are the operational costs and challenges?

  • Devising a policy response to these challenges

Networking Break

15:15 - 15:45

15:45 - 16:30

New faces in the risk profession: Advancement and the future for the next generation of risk professionals?

How are new energy risk professionals navigating challenges in their business environment? How are they are developing their own personal capital and how do they see the future developing?

17:00

Conference concludes

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