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5th Risk Summit

Back to Risk Summits

In June 2014 the Cambridge Centre for Risk Studies brought together leaders and decision makers from businesses, governments, intergovernmental organisations, academia and NGOs to explore salient topics in risk management. The summit was held at the University of Cambridge Judge Business School, followed by a conference dinner at Emmanuel College, Cambridge.

This year’s summit theme explored implications of “Big Data” and its opportunities and risks to businesses. The democratisation of information access has provided enormous opportunities for individuals and organisations while creating growing debate on its consequential use. Big data holds potential for research, innovation and productivity, while posing complex questions of ownership, value, aggregation, and the broader benefits to society.

Download the brochure (pdf, 2.45MB)

Day 1: Monday 23 June 2014

Time

Session

09:00-15:00

Special Topics Seminar

15:30-16:00

Risk Summit Registration and Coffee/Tea

16:00-16:15

Risk Summit Welcome
Dr Michelle Tuveson, Executive Director, Cambridge Centre for Risk Studies

16:15-17:00

Plenary Session 1: Globalisation and Systemic Risk
Keynote: The Butterfly Defect: Why Globalisation Creates Systemic Risks and What Can Be Done
Professor Ian Goldin, Professor of Globalisation and Development at the University of Oxford and Director, Oxford Martin School

17:00-18:00

Risk Summit Day 1 Panel
Moderated by: Dr Michelle Tuveson, Executive Director, Cambridge Centre for Risk Studies

  • Dr Michael Maran, Chief Science Officer, Catlin Group
  • David Harding, Founder and President, Winton Capital Management
  • Professor Daniel Ralph, Academic Director, Cambridge Centre for Risk Studies, University of Cambridge Judge Business School & Professor of Operations Research
  • Alan Smith, Global Head of Risk Strategy and Chief of Staff, HSBC Holdings

18:00-19:00

Drinks Reception at Cambridge Judge Business School

19:15-21:30

Risk Summit Dinner at Emmanuel College

Day 2: Tuesday 24 June 2014

Title

Session

09:00-09:30

Coffee & Registration

09:30-09:35

Risk Summit Welcome and Introductions
Dr Michelle Tuveson, Executive Director, Cambridge Centre for Risk Studies

09:35-11:00

Plenary Session 2: Enhancing the Understanding of Risk
Chair: Simon Ruffle, Director of Technology Research and Innovation, Cambridge Centre for Risk Studies

10:00-10:30

Innovation for a Secure Future
Dr Ray Johnson, Chief Technology Officer, Lockheed Martin

10:30-11:00

Global Differences: New Credit-risk Models for the Unbanked
Dr Tobias Baer, Master Expert, Risk Practice, McKinsey & Company

11:00-11:30

Coffee Break

11:30-13:00

Plenary Session 3: Disruptive Changes to the Views of Risk
Chair: Dr Andrew Coburn, Director of the External Advisory Board, Cambridge Centre for Risk Studies and Senior Vice President, RMS

12:00-12:30

Financial Cartography
Dr Kimmo Soramäki, Founder & CEO, Financial Network Analytics
Download slides

12:30-13:00

Panel Discussion: Big Data Disruptions and the Evidence for Business Value

  • Martin Pergler, Senior Expert, McKinsey & Co
  • Dr Kimmo Soramäki, Founder & CEO, Financial Network Analytics
  • Dr Louise Pryor, Risk Researcher, Cambridge Centre for Risk Studies
  • Juan Carlos Castilla-Rubio, Founding CEO, Planetary Skin Institute

McKinsey Risk Prize Announcement
Dr Sven Heiligtag, Principal, McKinsey & Company

13:00-14:00

Lunch at Cambridge Judge Business School

14:00-15:00

Plenary Session 4: Taking the Pulse of Risk
Chair: Andrew Freeman, Director, The Finance Foundation

14:00-14:30

Energy Economic Forecast
Paul Appleby, Head of Energy Economics, Group Economics Team, BP
Download slides

14:30-15:00

Risk & Responsibility in a Hyperconnected World
Joseph Hubback, Associate Principal, McKinsey & Company

15:00-16:00

The “Big” Debate
Debate motion: This house believes that “big data” is the new currency and holds societal benefits. Following the “Oxford-style” of debate, the value of “big data” will be debated. The debate format will feature motions in support or in opposition of the house motion. Attendees will participate in a pre-debate vote on the motion. Each panellist will present an opening statement followed by questions from the audience. In conclusion, each panellist will deliver a closing argument, and the meeting participants will provide a final vote.

Chair: Andrew Freeman, Director, The Finance Foundation

For the Debate Motion:

  • John Scott, Chief Risk Officer, Zurich Global Corporate
  • Richard Ward, Government Relations, IBM Europe

Against the Debate Motion:

  • Professor Zoubin Ghahramani, Professor of Information Engineering, University of Cambridge
  • Dr David Good, Fellow, King’s College, Cambridge

16:00-16:15

Summary & Conclusions
Professor Daniel Ralph, Academic Director, Cambridge Centre for Risk Studies, University of Cambridge Judge Business School & Professor of Operations Research

Note: Programme subject to change

Paul Appleby

Head of Energy Economics, BP Group Economics Team

Paul Appleby leads the analysis of long term energy market developments for BP. His career at BP spans 29 years, and includes a variety of roles in BP’s gas and alternative energy businesses. Most recently he was the custodian of the investment appraisal process for BP’s gas, power and renewables businesses worldwide.

He received his theoretical training in economics at the University of Cambridge (MA and MPhil), and served a practical apprenticeship as a Fellow of the Overseas Development Institute, posted to Malawi. He is an associate lecturer in energy economics at the University of Surrey, and a member of the Council of the British Institute of Energy Economics.

Work experience:

  • Head of Energy Economics, 2009-
  • Head of Global Gas Market Analysis, 2008-2009
  • Senior Advisor, Investment Appraisal, 2004-2007
  • Senior Strategy Advisor, Gas Power & Renewables, 2001-2004
  • Commercial Manager, UK Gas & Power, 1999-2002
  • Director, Strategy & Planning, BP Solar, 1998-1999
  • Senior Economist, Group Economics Team, 1992-1998
  • Market Analysis Team Leader, European Gas, 1989-1992
  • Senior Economist, BP Australia, 1987-1989
  • Economist, BP Group Corporate Planning, 1984-1986
  • Planning Economist, Government of Malawi, 1981-1983
  • (Fellow of the Overseas Development Institute)

Tobias Baer

Master Expert, McKinsey & Company’s Risk Management Practice

Dr Tobias Baer is a Master Expert of McKinsey & Company’s Risk Management Practice and Leader of the company’s Credit Risk Advanced Analytics Service Line as well as the Risk Modeling Center in India. He serves clients globally, including leading financial institutions in Europe, North America, and Australia, and fast-growing organisations in Asia, Latin America, Eastern Europe and Africa, focusing on innovation in risk modelling, non-traditional and big data, analytics-enabled business transformations, and the creation of new lending businesses. Tobias holds a PhD from the University of Frankfurt and drives research & development in rating methodology, decision systems, and economic capital.

Watch our interview with Tobias on Vimeo

Juan Carlos Castilla-Rubio

Founding CEO, Planetary Skin Institute

Founding CEO of the Planetary Skin Institute, an independent research & development US corporation co-founded between Cisco and NASA tasked to incubate and start-up advanced risk management decision-support platforms that enable governments, industrial corporations, infrastructure players, utilities, resource commodity operators and financial market players for a step change in the proactive risk management of their mission critical assets, their natural resources supplies, their infrastructures and their supply chains. PSI was awarded one of TIME Magazine’s Top Innovation Awards for 2009 and has been profiled in The Economist, the New York Times and Fast Company, amongst others.

Prior to his PSI role, Juan Carlos led the Cisco Global Resource/Risk Management Innovations team with global responsibility for programs incubating Big Data & Analytics, Internet of Things and cloud-based risk management platforms across multiple industries and sectors globally. Before that, he led Cisco’s Emerging Markets Innovation Group focused on designing and operationalising large scale/complex technology-enabled innovation programs for governments and corporations emerging markets wide, with a focus in Brazil, Chile, India, South Africa, Mexico, South Africa, Gulf States, Turkey and China.

Prior to joining Cisco, Juan Carlos was a Partner for Oliver Wyman where he led the financial services and telecom practices in Latin America. Prior to Oliver Wyman, he was CEO for an innovative biotechnology start-up focused on next generation bio-fuel technologies and pharma research in the Amazon, an EVP Operations for a brewery group in Latin America (now SABMiller), a Managing Director for Corporate Strategic Development of a diversified financial services group in Latin America (Intercorp Group) and a senior consultant for McKinsey & Company in Brazil.

Juan Carlos is currently the Co-Chair of the World Economic Forum’s Global Advisory Council on Measuring Sustainability and was a member of the World Economic Forum’s Global Advisory Council on Climate Change; member of Duke Energy’s International Strategy Advisory Council, a member of the World Economic Forum’s Steering Boards for the Water Security, Resource Scarcity, New Energy Architecture and Big Data initiatives.

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