Ethics and Culture Panel

Pre-Conference Event

Defining and Sustaining a Strong Bank Culture

Bank ethics and culture have become a point of increasing regulatory focus. Panelists will offer views on behaviors and practices that contribute to strong institutional compliance and risk cultures.

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Chairman’s Achievement Award Dinner

Special Event

Chairman’s Achievement Award Dinner

TCH's Annual Chairman's Achievement Award recognizes the lifetime leadership of an individual associated with the commercial banking industry.

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Payment Systems Risk Symposium

Pre-Conference Event

Payments System Risk Symposium

Co-sponsored with The Federal Reserve Bank of New York, this symposium will convene public-sector, private-sector and academic payments experts to discuss how to counter critical payments system risks.

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Time Description


Payments System Risk Symposium

Co-sponsored with Federal Reserve Bank of New York

Payments Systems participants have exponentially-increased risk management responsibilities in the post-Dodd-Frank era in areas ranging from governance requirements to third party management to compliance. Co-sponsored by The Clearing House and the Federal Reserve Bank of New York, this Symposium brings together leaders from regulatory, financial institution, legal, academic and financial market infrastructure sectors to discuss the vital issues associated with managing payments systems risk, including cyber security, vendor management due diligence and recovery and resolution, and others.

Introduction: James D. Aramanda, President and Chief Executive Officer, The Clearing House Association and Payments Company
Keynote Remarks: Christine M. Cumming, First Vice President, Federal Reserve Bank of New York

Third Party Risk Management – Due Diligence in the Age of Increased Regulatory Expectations

  • Roy DeCicco, Managing Director, JPMorgan Chase
  • Jeffrey C. Marquardt, Deputy Director, Division of Reserve Bank Operations and Payment Systems, Federal Reserve Board
  • Naresh Nagia, Chief Risk Officer, CLS Bank International
  • Kathleen Oldenborg, Director, Payments System Risk Policy, Office of the Comptroller of the Currency

Moderator: Franca Harris Gutierrez, Partner, Financial Institutions Group, WilmerHale

Recovery and Resolution Planning – Myth meets Reality at the Intersection of Bank and FMU Recovery and Resolution Planning

  • Russ Fitzgibbons, Executive Vice President & Chief Risk Officer, The Clearing House
  • Margaret E. Tahyar, Partner, Financial Instituions Group, Davis Polk & Wardwell LLP
  • Lawrence M. Sweet, Senior Vice President and Head of Payments Policy, Federal Reserve Bank of New York

Moderator: Dr. Thomas F. Huertas, Partner, Financial Services Risk Management, Ernst & Young LLP

Cybersecurity: NIST Standards and Emerging Best Practices

  • Michael Benardo, Chief, Cyber Fraud and Financial Crimes Section, Division of Risk Management Supervision, Federal Deposit Insurance Corporation
  • Adam Sedgewick, Senior Information Technology Policy Advisor, National Institute of Standards and Technology
  • Lisa J. Sotto, Partner and Chair of the Global Privacy and Cybersecurity Practice, Hunton & Williams LLP

Moderator: Jonathan Cedarbaum, Partner, Government and Regulatory Litigation Group, WilmerHale


Defining and Sustaining a Strong Bank Culture

Following the crisis, regulators and the media have raised concerns about the institutional culture of banks. This panel will explore the basis for these concerns and ask how the board of directors and senior management can establish, monitor and assess the prevailing risk culture and proactively address any areas of concern. The discussion will address key issues such as establishing clear accountability for those managing risks, monitoring the ethical profile of key employees, appropriately rewarding employees who demonstrate ethical behavior and punishing employees that do not. Furthermore, the panel will discuss ongoing ethical training.

  • Thomas C. Baxter, Jr., General Counsel and Executive Vice President of the Legal Group, Federal Reserve Bank of New York
  • Eugene Ludwig, Founder and Chief Executive Officer, Promontory Financial Group
  • Gary G. Lynch, Global General Counsel and Head of Compliance and Regulatory Relations, Bank of America
  • Bill Woodley, Deputy Chief Executive Officer, Deutsche Bank North America
  • Marcus Stanley, Policy Director, Americans for Financial Reform

Moderator: Matthew Bishop, U.S. Business Editor and New York Bureau Chief, The Economist


Conference Kickoff Reception


Conference Kickoff Dinner

Welcome Remarks: James D. Aramanda, President and Chief Executive Officer, The Clearing House Association and Payments Company
Introduction: Paul Saltzman, President, The Clearing House Association; Executive Vice President and General Counsel, The Clearing House Payments Company
Keynote Speaker: Nate Silver, New York Times Bestselling Author, The Signal and the Noise; Founder and Editor-in-Chief, FiveThirtyEight, in partnership with ESPN
Time Description


Conference Kickoff Breakfast

Introduction: Paul Saltzman, President, The Clearing House Association; Executive Vice President and General Counsel, The Clearing House Payments Company
Keynote Remarks: Daniel K. Tarullo, Governor, Board of Governors of the Federal Reserve System


Measuring the Tradeoffs: Assessing the Relationship Between Macroprudential Regulation and Macroeconomic Performance

This panel will explore the effects of Dodd-Frank and international regulation on the macroeconomy. Panel participants will explore various analyses relating to cumulative impact and cost benefit analyses and how macroprudential regulation is affecting economic growth and the economy as a whole.

  • Martin N. Baily, Director, Initiative on Business and Public Policy, The Brookings Institution
  • Andrew W. Lo, Charles E. and Susan T. Harris Professor, MIT Sloan School of Management; Director, MIT Laboratory for Financial Engineering; Principal Investigator, MIT Computer Science and Artificial Intelligence Laboratory
  • James J. McAndrews, Executive Vice President and Head of the Research and Statistics Group, Federal Reserve Bank of New York
  • James Wiener, Partner, Oliver Wyman

Moderator: David Wessel, Director, The Hutchins Center on Fiscal and Monetary Policy, The Brookings Institution




Introduction: James D. Aramanda, President and Chief Executive Officer, The Clearing House Association and Payments Company

Keynote Remarks: Anshu Jain, Co-Chief Executive Officer, Deutsche Bank


Sustaining Future Shocks: Financial System Stability and Institutional Resiliency

Six years after the financial crisis and four years after Dodd-Frank, the financial landscape is much-altered from the pre-crisis era. Commercial banks today hold significantly more capital and liquidity than prior to the crisis. They are rigorously stress tested and subject to heightened regulatory supervision, yet robust debate remains over whether the financial system is sufficiently resilient and how policymakers should measure that resiliency. This panel will explore current definitions and measures of resiliency based on our understanding of the financial crisis as well as the ability of individual institutions and the banking system more broadly to withstand future financial shocks.

  • Timothy P. Clark, Senior Associate Director, Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System
  • Eugene M. McQuade, Vice Chairman, Citi
  • Sandie O’Connor, Managing Director, Chief Regulatory Affairs Officer, JPMorgan Chase
  • Dr. Jing Zhang, ‎Divisional Managing Director and Global Head of Research & Modelling, Moody’s Analytics

Moderator: Dan Ryan, Leader, Financial Services Advisory Practice, PricewaterhouseCoopers LLP


Lunch Session

Introduction: John G. Finneran, Jr., General Counsel and Corporate Secretary, Capital One
Keynote Remarks: Richard Cordray, Director, Consumer Financial Protection Bureau




The Chairman’s Panel: Strategic Views on the Evolution of the Banking Industry

Six years removed from the actual events, the regulatory response to the financial crisis continues to evolve and reshape the industry landscape, with major implications for the economy as a whole. CEOs from TCH Owner Banks will discuss this evolution, how new regulations and regulatory uncertainty have prompted a divergence from the traditional banking model, and how this divergence is affecting their businesses.

  • Jacques Brand, Chief Executive Officer of North America, Deutsche Bank AG
  • Michael Corbat, Chief Executive Officer, Citigroup
  • Richard K. Davis, Chairman, President and Chief Executive Officer, U.S. Bancorp
  • Kelly S. King, Chairman and Chief Executive Officer, BB&T Corporation

Moderator: Toos N. Daruvala, Director, McKinsey & Company




Risk Management Roundtable: New Paradigms in the Management and Regulation of Risk

Following the financial crisis, increased regulatory mandates have resulted in financial institutions making many changes to their risk management practices including with respect to operational risk measurement and management, model risk management as well as structural and functional changes in order to implement heightened supervisory expectations for their risk governance structures. Panelists will discuss these and other key developments in the risk management space, as well as provide an outlook on potential future risks to the banking sector, and how financial institutions are equipped to deal with these challenges.

  • Craig W. Broderick, Chief Risk Officer, Goldman, Sachs & Co.
  • Frank Forrest, Executive Vice President, Chief Risk and Chief Credit Officer, Fifth Third Bank
  • Andrew P. Kuritzkes, Executive Vice President, Chief Risk Officer, State Street Corporation
  • Gregory J. Lyons, Corporate Partner and Co-Chair, Financial Institutions Group, Debevoise & Plimpton LLP
  • P.W. (Bill) Parker, Vice Chairman, Chief Risk Officer, U.S. Bancorp

Moderator: Peter O. Davis, Principal, Financial Services, Ernst & Young LLP

Cyberwarfare – Are We Winning the Fight?

The threat from cyber-attacks has become increasingly apparent this year, with high-profile breaches regularly in the news. Looking at the overall landscape for cyber security, this panel of government and industry experts will address how both the cyber-threat and the fight against these threats has evolved and whether we are any safer from attacks than we were several years ago as a result of government and industry measures. The panel will also look ahead to what the next cyber-threats are likely to be, whether we are correctly anticipating those threats, and what more can be done to effectively fight the cyber-war.

  • Valerie Abend, Senior Critical Infrastructure Officer, Office of the Comptroller of the Currency
  • Kevin Mandia, Senior Vice President and Chief Operating Officer, FireEye
  • William B. Nelson, President and Chief Executive Officer, Financial Services Information Sharing and Analysis Center
  • Brian J. Peretti, Esq., Acting Director, Office of Critical Infrastructure Protection & Compliance Policy, U.S. Department of the Treasury

Moderator: Elizabeth T. Davy, Partner, Sullivan & Cromwell LLP


Emerging Challenges in Bank Litigation and Enforcement

Banking agency and other U.S. governmental authorities continue to take enforcement actions against banks with increasing frequency and penalties that continue to grow in size, and responding to government investigations and enforcement actions is more challenging now than ever before. Senior policymakers and bank executives on the panel will share their insights into current enforcement priorities and initiatives as well as key strategic and tactical challenges, including the increasingly crowded landscape of state and federal governmental actors and priorities involved and the debate over institutional v. individual accountability.

  • Stuart Alderoty, Senior Executive Vice President and General Counsel, HSBC North America Holdings Inc.
  • Anthony Alexis, Acting Enforcement Director, Office of Enforcement - Consumer Financial Protection Bureau
  • Mythili Raman, Partner, Covington & Burling LLP
  • Daniel P. Stipano, Deputy Chief Counsel, Office of the Comptroller of the Currency

Moderator: John C. Dugan, Partner, Covington & Burling LLP

Emerging Payments

Innovation in digital payments has greatly accelerated over the last few years, largely fueled by mainstream adoption and advanced capabilities of mobile phones and their potential to transform commerce and payments. In this session, we will explore recent innovations from mobile payments to virtual currencies, and potential payments system impacts, including proliferation of customer credentials, new fraud scenarios, anti-money laundering compliance, lack of transparency for customer servicing, and heightened risk of identity theft. The panelists will offer recommended industry or regulatory approaches to mitigate these risks while encouraging a safe environment to encourage continued development of new capabilities benefiting consumers and businesses.

  • Dekkers L. Davidson, Chief Executive Officer, Merchant Customer Exchange
  • James C. Hale, Founder & General Partner, FTV Capital
  • Ed McLaughlin, Chief Emerging Payments Officer, MasterCard
  • Gabriel Sukenik, Bitcoin Investor and Entrepreneur

Moderator: Dave Fortney, Senior Vice President – Product Development and Management, The Clearing House Payments Company


Conference Reception


Chairman’s Achievement Award Dinner

Welcome Remarks: James D. Aramanda, President and Chief Executive Officer, The Clearing House Association and Payments Company
Introduction & Remarks: Richard K. Davis, Chairman, President and Chief Executive Officer, U.S. Bancorp
Keynote Remarks: Ian Bremmer, President and Founder, Eurasia Group

More information about the Chairman’s Achievement Award Dinner.


Chairman’s Achievement Award After Dinner Reception

Time Description


Breakfast Featuring Congressional Speakers

Co-sponsored with Bipartisan Policy Center

The November 2014 Congressional mid-term elections have the possibility to change the political landscape in Washington, D.C. in a substantial way. All eyes are on the U.S. Senate with a strong possibility to change control, and House elections are always unpredictable. With issues like Glass-Steagall reinstatement, a proposed Bank Tax, Housing Finance Reform, and ever-looming fiscal issues hanging in the balance, this session, being organized jointly with the Bipartisan Policy Center, will feature two leading legislators to discuss the agenda for banks in year ahead.

Introduction: Jill Hershey, Executive Managing Director and Head of Government Affairs, The Clearing House

  • The Honorable George J. Mitchell, Co-Founder, Bipartisan Policy Center; Co-Chair, Bipartisan Policy Center Housing Commission; Chairman Emeritus, DLA Piper; Former U.S. Senate Majority Leader
  • The Honorable John E. Sununu, Former United States Senator from New Hampshire

Moderator: Jason S. Grumet, President, Bipartisan Policy Center


Trends in Bank Structural Reform: Considering the Implications for Financial Stability and Markets

Do the existing activities and geographic structure of large international financial institutions pose a risk to financial stability? Although a rough international consensus has emerged around a variety of post-crisis regulatory reforms, debate rages on about whether the scope of large financial institutions’ activities and their geographic footprint should be restricted or ring-fenced, with major financial jurisdictions taking notably different approaches. Panelists will discuss the costs and benefits of existing or pending approaches to restructuring large financial institutions along these lines, whether under Volcker, Vickers, Liikanen and national resolutions regimes, as well as the potential impact of such approaches on the integration of global financial markets.

  • Stefan Gavell, Executive Vice President and Head of Regulatory, Industry and Government Affairs, State Street Corporation
  • James Chew, Global Head, Regulatory Policy and Strategy, HSBC Holdings PLC
  • Adam Farkas, Executive Director, European Banking Authority
  • Patrick Pinschmidt, Deputy Assistant Secretary for the Financial Stability Oversight Council, U.S. Department of the Treasury (invited)

Moderator: Barnabas Reynolds, Partner and Head of Global Financial Institutions Advisory & Financial Regulatory Group, Shearman & Sterling LLP

Financial Crimes Compliance -- A Way Forward?

Over the past few years, there have been increasing enforcement actions against banks resulting in unprecedented fines, deferred-prosecution agreements, and other penalties, which regulators maintain is the result of banks failing to keep pace with the changing environment surrounding financial crimes and increased regulatory expectations. The panel will explore how the various stakeholders can work together to bring the law, regulations, examination standards, and industry practices into alignment to meet future challenges.

  • Susan J. Galli, CAMS, Managing Director, Financial Services Advisory Risk and Regulatory, PricewaterhouseCoopers LLP
  • Sarah K. Runge, Director of the Office of Strategic Policy for Terrorist Financing and Financial Crimes, U.S. Department of the Treasury
  • Suzanne L. Williams, Assistant Director for Corporate Governance, Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System
  • Juan C. Zarate, Chairman, Financial Integrity Network (former Deputy National Security Advisor)

Moderator: H. Rodgin Cohen, Senior Chairman, Sullivan & Cromwell LLP




The New Macroprudential Paradigm: Reconciling International Standards and National Implementation

As the U.S. and other countries have worked in recent years to develop and implement capital, liquidity, and other macroprudential rules for large financial institutions, a new paradigm has emerged, as standards in this area are increasing mandated at the G-20 level, agreed by international standard-setting bodies, and implemented locally by national supervisors. Panelists will explore recent developments in macroprudential regulation and discuss the implications of this new, more internationally-focused paradigm on the pace of rulemaking, international consistency and competitive parity, the extent to which supervisors can meaningfully assess the potential impact of new rules ex ante, and the relative incentives of local jurisdictions to enact more stringent (so-called “super-equivalent”) standards.

  • Jason C. Cave, Special Advisor to the Chairman, Federal Deposit Insurance Corporation
  • Kieran J. Fallon, Senior Deputy General Counsel, Government, Regulatory Affairs & Enterprise Risk, PNC Financial Services Group, Inc.
  • Michael S. Gibson, Director, Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System
  • Jeremy Newell, Executive Managing Director, Head of Regulatory Affairs and General Counsel, The Clearing House Association

Moderator: Randall D. Guynn, Partner and Head of Financial Institutions Group, Davis Polk & Wardwell LLP


Lunch Session

Introduction: Paul Saltzman, President, The Clearing House Association; Executive Vice President and General Counsel, The Clearing House Payments Company
Keynote Remarks: Thomas J. Curry, Comptroller of the Currency, Office of the Comptroller of the Currency


Bank Directors Panel: Heightened Expectations and Blurred Lines in a Changing Regulatory Framework

Co-sponsored with The Center for Banking and Finance, UNC School of Law

Since the crisis, U.S. and global bank regulators have raised expectations for bank boards of directors, and have proposed a broad-range of new responsibilities. As a consequence, unprecedented demands are being placed on the time, ability and expertise of the board and individual directors. How can a board, as a practical matter, competently satisfy this burgeoning set of regulatory requirements while still fulfilling all of the other fiduciary and strategic obligations expected of modern directors? This panel, including directors and leading experts in bank corporate governance, will discuss this question as well as other cutting-edge issues and challenges facing boards of directors in today’s highly regulated and rapidly evolving banking industry.

  • John D. Hawke, Jr., Partner, Arnold & Porter LLP
  • Michael S. Helfer, Managing Director, The Ice Glen Group LLC
  • Oliver Ireland, Partner, Morrison & Foerster LLP
  • Martin Pfinsgraff, Senior Deputy Comptroller for Large Bank Supervision, Office of the Comptroller of the Currency

Moderator: Lissa Lamkin Broome, Wells Fargo Professor of Banking Law and Director of the Center for Banking and Finance, UNC School of Law
Moderator: Derek M. Bush, Partner, Cleary Gottlieb Steen & Hamilton LLP