The world is a very different place than it was pre-pandemic.
From changing work patterns and operational change to geopolitical tensions and rampant inflation, risk departments have never been under so much pressure.
Amid an increasingly complex risk landscape, regulators have become more stringent in their expectations around culture and conduct, placing responsibility squarely on executives to instil best practice. So how are risk departments removing internal silos to embrace the future of risk culture?
Hear from the experts rethinking the future of risk management as they offer practical insights on how your organisation can:
- Create a risk culture that transcends the three lines of defence
- Encourage best practices in third-party risk management, IT and cyber risk, internal audit and regulatory compliance
- Reduce the risks associated with staff turnover and people risk
- Mitigate the impact of the Ukraine crisis on your operations
- Develop strong communication with senior leadership so they better understand risk culture
- Ensure effective and continuous communication across global operations to ensure regulatory compliance
Six months on from Libor’s cessation, cash and derivatives markets have adapted quickly to the new multi-rate world. In the US, where selected US dollar Libor tenors will remain in place until mid-2023, the secured overnight financing rate (SOFR) is firmly established as the preferred alternative for derivatives.
However, one area of the market remains resistant to change: non-linear derivatives – such as options, caps and floors – are poorly suited to backward-looking benchmarks such as SOFR, and market participants face difficult questions around product structure, volatility, valuation, pricing, liquidity and hedging.
Risk.net editor, Helen Bartholomew, will be joined by Ralph Axel, director and US rates strategist at Bank of America Global Research, and Ping Sun, senior vice-president of financial engineering at Numerix, to cover the following discussion points: .
This leaders’ panel will explore:
- How the market is adapting to SOFR swaptions
- The products best suited to term SOFR
- Lessons from the latest deals and developments
- The current state of the market: volumes and liquidity in RFR options, caps and floors, and other complex products
- Valuation and pricing hurdles associated with in-arrears rates
- Challenges and developments in modelling volatility in SOFR and overnight rates
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