[vc_empty_space height=”10px”]
The pandemic has shed the spotlight on supply chain issues across all industries, so what does that look like in financial services? This session will highlight the need for resilience and robust continuity planning.[vc_quotes layout=”accordion” quotes=”%5B%7B%22name%22%3A%22Geoff%20Hodge%22%2C%22job_role%22%3A%22Founder%2C%20Milestone%20Group%20(Australia)%22%2C%22content%22%3A%22Geoff%20Hodge%20has%20more%20than%2020%20years%20of%20experience%20in%20investment%20and%20banking%20industries%2C%20with%20a%20specific%20focus%20on%20innovation%20and%20business%20enablement%20in%20operations%20and%20technology%20encompassing%20the%20Asia-Pacific%20region%2C%20Europe%20and%20North%20America.%20He%20was%20previously%20a%20board%20member%20and%20director%20of%20Rothschild%20Australia%20Asset%20Management%20and%20has%20held%20senior%20roles%20in%20treasury%20and%20capital%20markets%2C%20funds%20management%2C%20custody%2C%20payments%2C%20and%20investment%20banking%20operations.%22%2C%22image%22%3A%2231905%22%2C%22linkedin%22%3A%22https%3A%2F%2Fwww.linkedin.com%2Fin%2Fgeoff-hodge-7aab54%2F%22%7D%2C%7B%22name%22%3A%22Arjen%20Pasma%22%2C%22job_role%22%3A%22Chief%20risk%20officer%2C%20investments%2C%20PGGM%20(The%20Netherlands)%22%2C%22content%22%3A%22Arjen%20Pasma%20is%20a%20board%20member%20of%20PGGM%20Investment%20Management%20and%20PGGM%20Treasury%20and%20a%20member%20of%20the%20investment%20committee.%20He%20has%20more%20than%2020%20years%20of%20investment%20experience.%20From%202008-12%2C%20he%20was%20the%20investment%20management%20and%20pensions%20practice%20leader%20of%20Deloitte%20in%20the%20Netherlands%20and%20director%20in%20the%20financial%20risk%20management%20team.%20He%20has%20worked%20with%20investment%20managers%2C%20private%20banks%20and%20pension%20funds%20in%20assignments%20on%20risk%20management%2C%20investment%20consulting%2C%20risk%20governance%2C%20quantitative%20analyses%20and%20model%20validation.%20From%201997-2008%2C%20he%20fulfilled%20several%20roles%20within%20ABN%20AMRO%20Asset%20Management%20as%20senior%20portfolio%20manager%20and%20head%20of%20quantitative%20equity%20management%2C%20risk%20manager%20and%20part%20of%20the%20management%20team%20equity%20management.%20Pasma%20studied%20econometrics%20at%20the%20Rijksuniversiteit%20Groningen%2C%20specialising%20in%20investment%20management%20and%20behavioural%20finance.%20He%20is%20a%20CFA%20charterholder.%22%2C%22image%22%3A%2231906%22%2C%22linkedin%22%3A%22https%3A%2F%2Fwww.linkedin.com%2Fin%2Farjenpasma%2F%22%7D%2C%7B%22name%22%3A%22April%20Wilcox%22%2C%22job_role%22%3A%22Director%20of%20investment%20operations%2C%20CalSTRS%20(United%20States)%22%2C%22content%22%3A%22April%20Wilcox%20is%20the%20director%20of%20investment%20operations%20for%20California%20State%20Teachers%E2%80%99%20Retirement%20System%20(CalSTRS)%2C%20the%20largest%20educator-only%20pension%20fund%20in%20the%20world%20with%20an%20investment%20portfolio%20valued%20at%20%24228%20billion.%20Wilcox%20has%20over%2015%20years%20of%20professional%20front%2C%20middle%2C%20and%20back%20office%20experience%20in%20the%20investment%20industry.%20She%20joined%20CalSTRS%20in%202004%20from%20California%20Housing%20Finance%20Agency.%20Prior%20to%20managing%20investment%20operations%2C%20she%20spent%20five%20years%20in%20fixed%20income%2C%20overseeing%20the%20fixed%20income%20opportunistic%20portfolio.%20Wilcox%20obtained%20a%20B.S.%20in%20Finance%20from%20California%20State%20University%2C%20Sacramento%3B%20awarded%20the%20Investment%20Foundations%20certificate%20by%20CFA%20Institute%3B%20and%20holds%20the%20Chartered%20Alternative%20Investment%20Analyst%20(CAIA)%20designation.%22%2C%22image%22%3A%2231907%22%2C%22linkedin%22%3A%22https%3A%2F%2Fwww.linkedin.com%2Fin%2Fapril-wilcox%2F%22%7D%5D” title=”Speakers” el_class=””][vc_quotes layout=”accordion” quotes=”%5B%7B%22name%22%3A%22Amanda%20White%22%2C%22job_role%22%3A%22Director%20of%20institutional%20content%2C%20Conexus%20Financial%20(Australia)%22%2C%22content%22%3A%22Amanda%20White%20is%20responsible%20for%20the%20content%20across%20all%20Conexus%20Financial%E2%80%99s%20institutional%20media%20and%20events.%20In%20addition%20to%20being%20the%20editor%20of%20Top1000funds.com%2C%20she%20is%20responsible%20for%20directing%20the%20global%20bi-annual%20Fiduciary%20Investors%20Symposium%20which%20challenges%20global%20investors%20on%20investment%20best%20practice%20and%20aims%20to%20place%20the%20responsibilities%20of%20investors%20in%20wider%20societal%2C%20and%20political%20contexts.%20She%20holds%20a%20Bachelor%20of%20Economics%20and%20a%20Masters%20of%20Art%20in%20Journalism%20and%20has%20been%20an%20investment%20journalist%20for%20more%20than%2025%20years.%20She%20is%20currently%20a%20fellow%20in%20the%20Finance%20Leaders%20Fellowship%20at%20the%20Aspen%20Institute.%20The%20two-year%20program%20seeks%20to%20develop%20the%20next%20generation%20of%20responsible%2C%20community-spirited%20leaders%20in%20the%20global%20finance%20industry.%22%2C%22image%22%3A%2231872%22%2C%22linkedin%22%3A%22https%3A%2F%2Fwww.linkedin.com%2Fin%2Famanda-white-101a7515%2F%22%7D%5D” title=”Moderator” el_class=””][vc_empty_space height=”10px”]
Key takeaways
Geoff
We were ‘lucky’ to have had a fire in the London office three years ago which helped us prepare for the COVID-19 pandemic and WFH scenario.
Backup planning has flaws, as illustrated by disaster recovery sites not being able to be used due to social distancing requirements.
Cyber attacks have gone up significantly. The use of personal laptops is a point of vulnerability in the ecosystem.
Resilience is expanding as a topic, shifting from making processes robust to challenging outsourced functions to mitigate interruptions to supply chains and business operations.
Cyber threat is racing ahead of where the industry is at, however there are some cyber security quick wins e.g. keeping patching up to date and legitimate laptop identification.
COVID-19 has shifted the mindset from ROI and headcount reduction to refining operating models and implementing technology and people initiatives to achieve that goal.
Arjen
Due diligence on new service providers has taken on increased significance.
Working is a social thing and people miss the physical interaction. Offices of the future will be where people meet, not where people work.
April
Leveraged relationship with existing service providers during the pandemic peak to brainstorm how to continue business operations.
COVID-19 has forced a seismic shift in due diligence innovation.
Technology is critical but from an operational perspective people are enormously important, hence the need to focus on cultural and wellbeing initiatives.
[vc_empty_space height=”10px”]
Poll results
Do you think your own organisation, and your service providers’ organisations are resilient enough to manage a significant cyber attack?[vc_line_chart x_values=”” values=”%5B%7B%22title%22%3A%22Yes%20(40%25)%22%2C%22y_values%22%3A%2240%22%2C%22color%22%3A%22blue%22%7D%2C%7B%22title%22%3A%22No%20(17%25)%22%2C%22y_values%22%3A%2217%22%2C%22color%22%3A%22pink%22%7D%2C%7B%22title%22%3A%22Maybe%20(43%25)%22%2C%22y_values%22%3A%2243%22%2C%22color%22%3A%22vista-blue%22%2C%22custom_color%22%3A%22%23f4524d%22%7D%5D”]
The Florida State Board of Administration has made some strategic moves to take advantage of opportunities in the dislocation, including in private equity, distressed debt and active listed equities.. But CIO, Ash Williams, is concerned about the underlying real economy.
Fixed income investing has undergone a sea change in the past decade. By tossing out some active management orthodoxies and embracing new technologies and quantitative techniques, we believe some managers are better equipped to capture unique insights and excess returns for their clients.
This paper identifies three indicators – stock market volatility, newspaper-based economic uncertainty, and subjective uncertainty in business expectation surveys – that provide real-time forward-looking uncertainty measures and illustrate how they can be used to assess the macroeconomic impact of the COVID-19 crisis. It implies a year-on-year contraction in US real GDP of nearly 11 per cent as of 2020 Q4
The COVID-19 crisis won’t have a lasting impact on climate change, but the response will—fiscal policymakers should thus aim to make the recovery green according to the IMF.
The PRI is working with signatories to further develop thinking on what the COVID-19 crisis means for investors. It is establishing two signatory participation groups to coordinate and develop investor responses, focusing on short term responses, and a future economic recovery phase.
How can investors be a catalyst for change and have an active voice in a sustainable recovery? This episode explores the role of investors and how they can collaborate for effective collective action. It includes the work of one of the leaders in sustainable investing and the biggest pension fund in Europe, APG. It invites investors to have an active voice in a sustainable recovery.
In this note McKinsey & Company offers its latest insights on the COVID-19 pandemic, starting with a survey of the current epidemiology and the five dynamics leaders need to watch.
Leave a Comment
You must be logged in to post a comment.
Login