Program

Time Description

7:30-8:30am

Conference Kickoff Breakfast

Introductory Remarks: Paul Saltzman, President of The Clearing House Association, Executive Vice President and General Counsel of The Clearing House Payments Company

8:30-9:45am

The State of The Banking Industry

The banking industry in 2013 is reshaping to become stable, stronger, and more competitive. However, in 2013 banks continue to deal with: the impact of financial reform regulations in the aftermath of the financial crisis (e.g., Basel III, leverage ratio, loss absorbency, and the Volcker Rule), increased pressures on the required return on capital and market share, and the role of the non-bank sector in the overall financial landscape. Panelists will discuss these and other issues pertinent to the banking industry. 

Panelists:
1. Timothy J. Sloan, Senior Executive Vice President, Chief Financial Officer at Wells Fargo & Company
2. Cyrus Amir-Mokri, Assistant Secretary for Financial Institutions, U.S. Department of Treasury
3. Michael Foley, Managing Director, Global Financial Institutions, Moody’s Investors Service
4. Howell (Mac) D. McCullough III, Executive Vice President and Chief Strategy Officer, U.S. Bancorp
Moderator: Dan Ryan, Chairman, Financial Services Advisory Practice, PricewaterhouseCoopers LLP

9:45-10:30am

Introduction: Michael Helfer, Vice Chairman, Citi

Keynote Speaker: Jerome H. Powell, Governor, Board of Governors of the Federal Reserve System

10:30-10:45am

BREAK

10:45am-12:00pm

Breaking up is hard to do: How should banks be structured in the 21st Century

Are the scale and scope of large international financial institutions a source of strength or a source of concern? Debate rages on the whether supervision, prudential regulation, and market discipline are sufficient tools to preserve the benefits of such institutions while avoiding potential distortions from perceptions that such institutions may be too big or too interconnected for authorities to allow to fail. Some argue that reducing the size of large financial institutions through regulation or size limits is the only way to deal with these issues. Others argue that important diversification and efficiency benefits could be lost. Panelists will discuss the costs and benefits of breaking up large financial institutions and how such institutions may be best structured and regulated.

Panelists:
1. Peter Fisher, Senior Managing Director, BlackRock
2. Richard J. Herring, Jacob Safra Professor of International Banking, Professor of Finance, The Wharton School, University of Pennsylvania
3. Glenn Hubbard, Dean and Russell L. Carson Professor of Finance and Economics, Columbia Business School
4. Andrew Metrick, Deputy Dean & Michael H. Jordan Professor of Finance and Management, Yale School of Management
Moderator: Randall Kroszner, Norman R. Bobins Professor of Economics, Booth School of Business, University of Chicago
Moderator: Michael Wiseman, Partner, Sullivan & Cromwell LLP 

12:00-2:00pm

LUNCH SESSION

12:30-1:00pm - Introduction: James M. Strother, Senior Executive Vice President, General Counsel Legal Group, Wells Fargo & Company

Keynote Speaker: Martin J. Gruenberg, Chairman, Federal Deposit Insurance Corporation

 

1:00-1:15pm - BREAK

 

1:15-2:00pm - Introduction: James D. Aramanda, President and Chief Executive Officer, The Clearing House – Association and Payments Company

Keynote Speaker: Richard Cordray, Director, United State Consumer Financial Protection Bureau

2:00-3:15pm

The Chairman’s Panel – Emerging Trends in the Banking Industry

Five 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.

Panelists:
1. Richard K. Davis, Chairman, President and Chief Executive Officer, U.S. Bancorp 
2. Brian T. Moynihan, Chief Executive Officer, Bank of America
3. Irene Dorner, Group Managing Director, President and Chief Executive Officer, HSBC USA
4. William S. Demchak, President and Chief Executive Officer, The PNC Financial Services Group
Moderator: John Walsh, Leader, Financial Regulation Practice, McKinsey & Company

3:15-3:30pm

BREAK

3:30-4:45pm

Shaping the Bank Balance Sheet in the Age of Basel III Capital & Liquidity Regulation

Heightened supervisory and regulatory standards in asset liability management are reshaping large bank short-term and long-term asset liability management practices. Panelists drawn from the country’s top regulators, treasurers of the largest banks in the country and bank advisors will describe these recent developments and the impacts of capital and liquidity reform proposals on markets, market participants and the macroeconomy.

Panelists:
1. Eric Aboaf, Treasurer, Citi
2. Sandra O’Connor, Managing Director - Treasurer, JPMorgan Chase
3. Marc Saidenberg, Principal, Ernst & Young LLP
4. Martin Pfinsgraff, Senior Deputy Comptroller for Large Bank Supervision, Office of the Comptroller of the Currency
Moderator: Oliver Ireland, Partner, Morrison & Foerster

 

Cyber Warfare - Protecting the Fifth Domain

The evolving nature of cyber attacks has led to increasing concerns over the ability of public and private stakeholders to adequately defend U.S. critical infrastructure in the fifth domain. Experts discuss what has been and what more needs to be done to protect the banking industry from hacktivists, criminal enterprises and nation states.

Panelists:
1. Michael Benardo, Chief, Cyber Fraud and Financial Crimes, Federal Deposit Insurance Corporation
2. Brian J. Peretti, Acting Director, Office of Critical Infrastructure Protection and Compliance Policy, U.S. Department of the Treasury
3. Jon Ramsey, Chief Technology Officer, Dell SecureWorks
4. Grady Summers, Vice President of Strategic Solutions, Mandiant
5. Edward P. O'Keefe, Legal Chief Operating Officer & Deputy General Counsel, Technology, Bank of America
Moderator: Gary C. Owen, Director, Promontory Financial Group, LLC

4:45-6:00pm

Resolution & Recovery - Bankruptcy Not Bailout

Ensuring that any banking institution can fail in an orderly manner without risking financial stability is a critical component of ending Too Big To Fail. This panel will examine the current statutory and regulatory framework governing resolution and recovery planning and mechanisms for resolving failed institutions under traditional pre-Dodd Frank resolution regimes as well as under Dodd Frank’s Title II Orderly Liquidation Authority. Panelists will also discuss regulatory initiatives to ensure that resolving even the largest, most complex firms is in fact feasible under existing frameworks – including proposals for additional loss absorbency at large financial institutions and a policy statement issued by the FDIC on its “single point of entry” approach under Title II. Finally, panelists will assess reforms that seek to enhance the existing Bankruptcy Code to better facilitate resolution of financial companies.

Panelists:
1. Gregory Baer, Managing Director and General Counsel - Corporate and Global Regulatory, JPMorgan Chase
2. Thomas Jackson, Distinguished University Professor and President Emeritus, University of Rochester
3. Mark E. Van Der Weide, Deputy Director, Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System
4. Arthur Murton, Director, Office of Complex Financial Institutions, Federal Deposit Insurance Corporation
Moderator: Randall D. Guynn, Partner, Davis Polk & Wardwell LLP

 

Developments in Combating Money Laundering and Terrorist Financing

There has been increasing regulatory and law-enforcement actions against banks for perceived failures of compliance efforts to combat money laundering and terrorist financing. In addition, there is a growing understanding on the part of regulators, law enforcement, and industry that the current structure of anti-money laundering statutes and regulations, which has grown incrementally over the past 40 years, is inadequate to the challenges of what criminals and terrorists are actually doing and results in institutions and regulators focusing on compliance with regulatory minutiae while losing sight of the real threats of illicit financing. Panelists will explore these issues from a variety of regulatory, law enforcement, and internal compliance perspectives.

Panelists:
1. Suzanne L. Williams, Assistant Director, Banking Supervision & Regulation, Board of Governors of the Federal Reserve System
2. William J. Fox, Managing Director, Global Financial Crimes, Corruption and Sanctions Executive, Bank of America Corporation 
3. Jaikumar Ramaswamy, Chief of Asset Forfeiture and Money Laundering Section, Criminal Division, Department of Justice
4. Jamal L. El-Hindi, Associate Director-Regulatory Policy, Financial Crimes Enforcement Network
Moderator: James H. Freis, Jr., Counsel, Cleary Gottlieb Steen & Hamilton LLP

6:00-6:45pm

Conference Reception

 

Chairman’s Achievement Award VIP Reception

7:00-8:45pm

Chairman’s Achievement Award Dinner

Introduction & Award Presentation: Brian T. Moynihan, Chief Executive Officer, Bank of America

Award Acceptance & Remarks: Michael R. Bloomberg, New York City

Introduction: Richard K. Davis, Chairman, President and Chief Executive Officer, U.S. Bancorp

Keynote Remarks: Peter R. Orszag, Vice Chairman of Corporate and Investment Banking, Chairman of the Public Sector Group, and Chairman of the Financial Strategy and Solutions Group, Citigroup (Former Director of the Office of Management and Budget)

Time Description

8:30-9:00am

Breakfast

9:00–9:45am

Insights on Washington: A Conversation Featuring The Honorable Barney Frank and POLITICO’s Ben White

Introduction: Jill Hershey, Executive Managing Director and Head of Government Affairs, The Clearing House
Keynote Speakers: Barney Frank, U.S. Congressman (1981-2012); Chairman, House Financial Services Committee (2007-2011) & Ben White, Chief Economic Correspondent, POLITICO

9:45–11:00am

Hot Topics for Bank Executives: Key Issues In Litigation and Enforcement

Banking agencies and other U.S. governmental authorities have been taking enforcement actions against banks with increasing frequency and imposing penalties that continue to grow in size. Senior bank regulators and executives will discuss the most important litigation and enforcement issues facing bankers today. Topics will include emerging SEC enforcement issues, trends in banking agency enforcement actions, consumer protection issues and enforcement actions, and how best to respond to bank investigations. The discussion will explore the emphasis in enforcement on senior management and board oversight, and the relationships between the enforcement environment and litigation risks.

Panelists:
1. Stephen Cutler, Executive Vice President & General Counsel, JPMorgan Chase
2. Gary Lynch, Global General Counsel and Head of Compliance and Regulatory Relations, Bank of America
3. Daniel P. Stipano, Deputy Chief Counsel, Office of the Comptroller of the Currency
4. Deb Morris, Deputy Enforcement Director for Litigation, Consumer Financial Protection Bureau
Moderator: John Dugan, Partner, Covington & Burling LLP

 

Shifting Systemic Risks – Managing Financial Market Utilities in Light of New Regulatory Requirements

Description: Systemically important financial market utilities play vital roles within national and the global economies. In recognition of those roles, new and important regulatory requirements and risk management standards are being proposed and implemented. This panel will explore how FMUs have responded to recent requirements and are likely to respond to future proposals, such as the proposed CPSS-IOSCO Principles for Financial Market Infrastructures. Finally, the panel will consider the appropriate ways that regulations should be structured to help manage systemic risk and avoid contagion in the marketplace in the event of a stressed environment.

Panelists:
1. Lawrence Sweet, Senior Vice President, Federal Reserve Bank of New York
2. Gregory Fell, Managing Director, Payments Systems Risk Management, Citi
3. Christopher S. Edmonds, President, ICE Clear Credit & TCC
4. Jeff Stehm, Senior Associate Director, Federal Reserve Board
Moderator: Peter Davis Principal, Ernst & Young LLP

11:00-11:15am

BREAK

11:15am-12:45pm

Reshaping Bank Board Governance

Hosted by the Stanford University Rock Center for Corporate Governance

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. But 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 will consider a range of approaches to this problem, including novel board structures, strategies for increasing specialized skills at the board level, new compensation arrangements, and related governance innovations.

Panelists:
1. Thomas C. Baxter, Jr., General Counsel and Executive Vice President of the Legal Group, Federal Reserve Bank of New York
2. Joseph Grundfest, W.A. Franke Professor of Law and Business, Stanford Law School
3. Paul Harris, Secretary and General Counsel, KeyBank
4. Kenneth Scott, Ralph M. Parsons Professor of Law and Business, Emeritus, Stanford University
Moderator: H. Rodgin Cohen, Senior Chairman, Sullivan & Cromwell LLP

 

Digital Payments – Identifying and Mitigating Safety and Soundness Risks Posed by New Payments Innovations

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.

Panelists:
1.Phil Gura, Chief Legal Officer, Merchant Customer Exchange LLC
2. Dave Fortney, Senior Vice President, The Clearing House Payments Company
3. Jud Linville, Chief Executive Officer, Citi Cards, Citigroup Inc.
4. Scott Loftessness, Founder, Glenbrook Partners
5. Jim McCarthy, Global Head of Innovation & Strategic Partnerships, Visa Inc.
Moderator: John R. Beran, Managing Director, The Beran Group LLC

12:45-2:15pm

LUNCH SESSION
Effective Compliance Risk Management in a Rapidly Changing Regulatory Environment

Hosted by The Center for Banking and Finance, UNC School of Law

Compliance and legal risk management remains a top priority on the agenda of bank regulators and the U.S. government more broadly. The challenge of managing these risks, however, has never been greater as the post-financial crisis regulatory architecture continues to evolve and take shape. Panelists will share their thoughts on supervisory expectations as well as approaches to effective implementation and management of compliance and control mechanisms. Topics within the scope of the discussion include: regulatory change management, senior management and board engagement in compliance and compliance risk, the bank – examiner dynamic, reputational risk, compliance function and culture, and “best practice” approaches for compliance professionals.

Panelists:
1. Timothy P. Clark, Senior Associate Director, Board of Governors of the Federal Reserve System
2. Sally Belshaw, Deputy Comptroller for Large Banks, Office of the Comptroller of the Currency
3. Carol Hunley, Executive Vice President/Chief Compliance Officer, Sovereign Bank
4. Steve Kaplan, Northeast Regional Director, Consumer Financial Protection Bureau
5. Paula Dominick, ‎Global Compliance Executive, Bank of America
Moderator: Lissa Broome, Wells Fargo Professor of Banking Law and Director of the Center for Banking and Finance, UNC School of Law
Moderator: Richard Neiman, Vice Chairman, Global Financial Services Regulatory Practice, PricewaterhouseCoopers LLP

2:15-3:45pm

The Dilemmas of Cross-Border Regulatory Reform: Coordination and Consistency in the National Regulation of International Banking

Longstanding impediments to harmonization of national laws and regulations have proven difficult to overcome despite international standards being set by multi-national groups such as the Basel Committee and Financial Stability Board. The panel will explore issues faced by international banks subject to supervisory oversight in, and the laws, regulations and rules of, several different jurisdictions. Leading experts will share their perspectives on developments in global bank regulation – including the potential impact of “ring-fencing”-type structural reforms on cross-border banking and tensions at the global level resulting from the Federal Reserve’s proposed departure from its traditional supervisory approach by requiring fully capitalized U.S. intermediate holding companies.

Panelists:
1. Michael Helfer, Vice Chairman, Citi
2. Andrew Procter, Global Head Compliance, Government & Regulatory Affairs, Deutsche Bank
3. Sally Scutt, Deputy Chief Executive, British Bankers' Association
4. Donald Lamson, Partner, Shearman & Sterling LLP
Moderator: Barney Reynolds, Partner, Shearman & Sterling LLP

 

When Innovation and Regulation Collide

Innovation in the payments system has increased consumer choice while introducing new players, roles, risks and business models into the payments ecosystem. Panelists discuss these new developments, whether regulation has kept pace with the ecosystem, and whether further regulation or new authority is needed to ensure ongoing consumer protection and the safety and soundness of payments.

Panelists:
1. Dave Fortney, Senior Vice President, The Clearing House Payments Company
2. Marla Blow, Assistant Director for the Office of Card & Payment Markets, Consumer Financial Protection Bureau
3. Marc L. Roark, Associate Professor, Savannah Law School
4. Jeanette Blanco, Senior Product Regulatory Counsel, PayPal
Moderator: Andy Navarrete, Senior Vice President & Chief Counsel, Capital One

3:45-5:00pm

Ethics session
Setting the Values Bar High: Aligning Incentives, and Ethics at Banking Institutions

In the wake of the financial crisis, the ethical and social responsibilities of banking groups have been a frequent topic of conversation among industry experts, regulators and the public at large. In today’s regulatory and political environment, bank boards of directors and senior management are increasingly expected to strengthen their institution’s ethical and risk cultures by various means such as articulating an understanding of what constitutes appropriate behavior. Panelists will discuss evolving standards relating to the ethical responsibilities of in-house counsel and other bank professionals. Topics of conversation will include strategies to strengthen an institution’s ethical culture and to avoid ethical dilemmas and conflicts of interest.

Panelists:
1. Michael Santoro, Professor, Management & Global Business, Rutgers Business School
2. Martin C. Grant, Chief Compliance Officer, Ethics Officer, and Senior Vice President, Federal Reserve Bank of New York
3. Pamela C. Scott, General Counsel, Human Resources, Citigroup Inc.
Moderator: Jeffrey D. Karpf, Partner, Cleary Gottlieb Steen & Hamilton LLP

* CLE Ethics credit pending approval