The events of 2008 brought to light the complexity that can exist within financial models, and demonstrated why all models, not just the complex ones, need to be more thoroughly scrutinized going forward. And while recent Greenwich Associates research found that both sell side and buy side firms have improved their model risk management practices in the past few years, those process remain largely manual, very time consuming, and prone to disputes between different departments with differing objectives and incentives.
 
For a need as ubiquitous as model risk management, what can be done to ease the burden of market participants, and in doing so reduce the risk that a model failure could threaten the world’s financial system?
 
On Thursday, March 26th, 2015 featured panelists Kevin McPartland of Greenwich Associates and Dr. David Eliezer and Satyam Kancharla of Numerix examined recent research findings from Greenwich Associates and discussed how firms can overcome many of the model risk management challenges they face.

In the first part of the webinar, Kevin McPartland presented insights from his recent research report, “Reducing the Risk of Using Financial Models,” and covered:

  • Why model risk management matters
  • What banks are doing
  • What the buy side is doing
  • What’s missing, and where this is going
  • In part two of the webinar, the panelists engaged in a moderated discussion on the practical challenges they see firms facing, as well as some of the best practices practitioners can adopt to better manage model risk.
To view this webinar On-Demand, simply register using the form to the right.

Featured Speakers:

Kevin McPartland, Principal, Market Structure and Technology, Greenwich Associates
Kevin McPartland leads Greenwich Associates’ market structure and technology practice and has nearly 15 years of capital markets industry experience with a deep expertise in OTC derivatives and financial services technology. Prior to joining Greenwich Associates, Mr. McPartland was with BlackRock, where he was a Director in the Electronic Trading and Market Structure group. Prior to Blackrock, he was a Principal at TABB Group, where he founded and led the firm's Fixed-Income research practice. He also spent time at JPMorgan, UBS and Deutsche Bank in varying capacities. Mr. McPartland earned a BS in Computer Science from Rensselaer Polytechnic Institute.


Dr. David Eliezer, Vice President, Head of Model Validation, Numerix
David Eliezer has been a quant on Wall Street for 18 years, at Goldman Sachs, Morgan Stanley, General Re Financial Products, and Bloomberg, among others. He has published work on option pricing, and on modeling liquidity in finance. He runs the internal testbed for Numerix models, and he leads the Model Validation group at Numerix.

Satyam Kancharla, Chief Strategy Officer & SVP of Client Solutions Group
Mr. Kancharla, as Chief Strategy Officer and Senior Vice President, is responsible for corporate strategy and currently heads the Client Solutions Group at Numerix. This group is responsible for Product Management, Financial Engineering and Business Analysis. Prior to this, he has served in various roles in Quantitative Software Development, Financial Engineering and Client Services at Numerix.Before transferring to Numerix in New York City, he was the CTO for Numerix Japan LLC in Tokyo, heading the Pre-Sales and Financial Engineering teams for Asia. Prior to joining Numerix in 2003, Mr. Kancharla also worked with Merrill Lynch and GE Capital in Quantitative Finance and Product Development roles.
He holds an MBA degree from New York University’s Stern School of Business, an MSc degree in Applied Statistics and Informatics from Indian Institute of Technology, Bombay and a BScin Mathematics and Computers from the University of Mumbai.

Moderator: Jim Jockle, Chief Marketing Officer, Numerix
Mr. Jockle leads the company's global marketing efforts, spanning a diverse set of solutions and audiences. He oversees integrated marketing communications to customers in the largest global financial markets and to the Numerix partner network through the company's branding, electronic marketing, research, events, public relations, advertising and relationship marketing.

Prior to joining Numerix, he served as Managing Director of Global Marketing and Communications for Fitch Ratings. During his tenure at Fitch, Mr. Jockle built the firm’s public relations program, oversaw investor relations and led marketing and communications plans for several acquisitions. He also oversaw the brand development of a new company dedicated to the enhancement of credit derivative and structured-credit ratings, products and services. Prior to Fitch, Mr. Jockle was a member of the communications team at Moody's Investors Service.

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