2024 Agenda

2024 Agenda

Risk Live Japan 2024 agenda

June 25, 2024 | Risk and trading
Times are in JST

09:0009:10

Chairperson’s opening remarks

09:00 - 09:10

Shinichi Yoshiya

Executive director and head of regulatory affairs Asia

Morgan Stanley

Shinichi Yoshiya is the Head of Regulatory Affairs for Asia in the Legal Division of Morgan Stanley. Mr. Yoshiya covers a broad range of complex cross-border financial regulatory matters for Morgan Stanley’s Asia region. Prior to joining Morgan Stanley, Mr. Yoshiya was an attorney at Davis Polk & Wardwell LLP advising on financial regulatory matters. Mr. Yoshiya has held academic appointments at Duke University Law School as Visiting Professor and currently teaches global financial regulations at Meiji University Law School. Duke University, Law School (LL.M.), Aoyama Gakuin University, Business School (M.B.A.), Sophia University (LL.B.). Mr. Yoshiya is admitted to the bar of the state of New York.ew York.

09:1009:30

Keynote address
Presentation

09:10 - 09:30

Rena Nagayama

Director of the international affairs office

Financial Services Agency, Japan

Rena Nagayama is the Director of the Office of International Affairs at the FSA, responsible for international negotiation and coordination on financial regulation and supervision. She joined the FSA in 2003, and has engaged in various policy areas, including banking supervision, financial market regulation planning, and taxation policy, such as that concerning NISA. She was also seconded to the Ministry of Finance and Permanent Delegation of Japan to the OECD. She received a bachelor’s degree in law at the University of Tokyo, and an LL.M. at Georgetown University Law Center.

09:3010:00

A chief risk officer's perspective: macroeconomic drivers for change in risk management
Keynote panel

09:30 - 10:00

  • The implications of global geopolitical tensions on Japanese firms
  • International investment and the future of Japan as an asset nation
  • Placing priorities with continually changing risks and new factors
  • Building greater partnerships across Japan to stay ahead of risks
Shiro Miyamoto

Executive officer and general manager of risk management department

Mitsubishi UFJ Financial Group Holdings

10:0010:30

Responsible use of artificial intelligence (AI) in risk management
Presentation

13:00 - 14:00

Terisa Roberts

Global solution lead, risk modelling and decisioning

SAS

Terisa Roberts is the global solution lead for risk modelling and decisioning at SAS, and has two decades of experience in quantitative risk management and advanced analytics. She has helped companies in financial services, telecommunications, government, energy and retail derive business value and make better decisions using risk analytics. Roberts has experience in regulatory compliance, IFRS 9, BCBS 239, model risk management and enterprise stress-testing. She advises banks and regulators on industry best practices in artificial intelligence (AI), automation and digitalisation related to risk modelling and decisioning, and in the responsible use of AI and machine learning. Roberts regularly speaks at international risk conferences on innovation in risk management.

10:3011:00

Networking break

10:40 - 11:10

11:0011:25

The future of stablecoin and digital securities in Japan
Panel discussion

11:00 - 11:30

  • The general sentiment towards cryptocurrencies for traders 
  • The implications of developments with the Osaka Digital Exchange 
  • Opportunities and challenges of central bank digital currency developments in Japan 
  • Developments in digital securities and stablecoin settlements 
Yoshihiko Uchida

Professor

Shunan University

11:2511:55

Clearing and collateral management: new considerations for Japan
Panel discussion

11:00 - 11:30

  • Navigating risks around counterparty relationships and liquidity 
  • Evaluating developments in clearing solutions for the long term for various products 
  • Optimising collateral amid current market conditions  
  • New opportunities of the current regulatory environment 
Shinichi Yoshiya

Executive director and head of regulatory affairs Asia

Morgan Stanley

Shinichi Yoshiya is the Head of Regulatory Affairs for Asia in the Legal Division of Morgan Stanley. Mr. Yoshiya covers a broad range of complex cross-border financial regulatory matters for Morgan Stanley’s Asia region. Prior to joining Morgan Stanley, Mr. Yoshiya was an attorney at Davis Polk & Wardwell LLP advising on financial regulatory matters. Mr. Yoshiya has held academic appointments at Duke University Law School as Visiting Professor and currently teaches global financial regulations at Meiji University Law School. Duke University, Law School (LL.M.), Aoyama Gakuin University, Business School (M.B.A.), Sophia University (LL.B.). Mr. Yoshiya is admitted to the bar of the state of New York.ew York.

Akiko Tsuji

Market contract senior expert

MUFG Bank

Akiko Tsuji is the Vice President, Global Markets Planning Division of MUFG Bank, Ltd. and has worked at MUFG Bank since 2011. Previously, Akiko Tsuji was at Morgan Stanley MUFG Securities and worked in Transaction Management Group (FID) where she worked on documentation of market contracts.

Shun Yanagisawa

Head of futures, clearing and FX prime brokerage, Japan

Citigroup Global Markets Japan

Shun Yanagisawa is a Director and the Japan Head of Futures, Clearing and FX Prime Brokerage, which sits within the Markets at Citigroup Global Markets Japan Inc.

In this capacity, he is responsible for managing Futures, OTC Clearing and FX Prime Brokerage business.
Prior to joining Citi, Yanagisawa was responsible for sales and marketing at JPMorgan in Japan for over 11 years.


Approx. 20 years industry experience, Yanagisawa regularly participates in public roundtables and serves for multiple industry groups and help advocate stability for the clearing system in derivatives. Shun is the elected board member, Vice President, ExCo and chairman of Operations committee of FIA Japan, interest rate swap steering committee at JSCC, Wholesale market steering committee of TFX, advisory board member of Risk.net ASIA and several working groups member of ISDA. Shun holds an M.B.A. from the University of Wales.  

Neil Salter

Institutional fixed income sales

Eurex

11:5012:20

A regulatory outlook: intermediation, consumer protection and market integrity in Japan
Panel discussion

10:00 - 10:30

  • Responding to regulators rising the bar for fiduciary responsibility 
  • How the current market environment has impacted risk managers and traders 
  • Navigating challenges and opportunities in the current regulatory environment  
  • Cultivating transparency in investment decisions to drive corporate and national welfare 

12:2013:20

Lunch

12:30 - 13:30

This stage will focus on the key areas of risk in Japan, including ESG, cyber risk, climate risk and artificial intelligence.

13:3013:35

Chairperson’s opening remarks

13:30 - 13:35

13:3514:05

ESG focus for Japan: what needs to be on your radar
Presentation

14:00 - 14:30

  • Current drivers of environmental, social and governance (ESG) risk 
  • Challenges in addressing ESG risk 
  • How International Sustainability Standards Board standards are impacting the perception of ESG in Japan 
  • How to quantify ESG within your financial institution
Motoko Kuze

Chief sustainable banking officer, sustainable strategy office

Societe Generale

Motoko started her career in 2001 at Mizuho bank Paris branch before joining Societe Generale Group in 2006, where she served for 10 years in Paris and Tokyo to develop the Group’s business with Japanese Financial Institutions.


In 2016, she joined HSBC Asset Management as Fund Manager and contributed to the growth of ESG investment in Japan as Senior Market Specialist. Most recently, Motoko was with RepRisk Japan Limited, established by the world’s largest ESG technology firm RepRisk AG in 2022, as General Manager to support the acceleration of green finance in Japan by best-in-class ESG risk data.

Shinichi Yoshiya

Executive director and head of regulatory affairs Asia

Morgan Stanley

Shinichi Yoshiya is the Head of Regulatory Affairs for Asia in the Legal Division of Morgan Stanley. Mr. Yoshiya covers a broad range of complex cross-border financial regulatory matters for Morgan Stanley’s Asia region. Prior to joining Morgan Stanley, Mr. Yoshiya was an attorney at Davis Polk & Wardwell LLP advising on financial regulatory matters. Mr. Yoshiya has held academic appointments at Duke University Law School as Visiting Professor and currently teaches global financial regulations at Meiji University Law School. Duke University, Law School (LL.M.), Aoyama Gakuin University, Business School (M.B.A.), Sophia University (LL.B.). Mr. Yoshiya is admitted to the bar of the state of New York.ew York.

Jason Mortimer

Head of sustainable investment (fixed income)

Nomura Asset Management

Jason Mortimer is Head of Sustainable Investment – Fixed Income and Senior Portfolio Manager at Nomura Asset Management in Tokyo. In this role, Jason is focused on fixed income ESG-integration and sustainable investing in fixed income and credit, as well as Green, Social, Sustainability Bonds and other mainstream impact investment strategies.

Before joining Nomura in August 2017, Jason was a portfolio manager at First State Investments in London responsible for emerging Asia local rates and currencies and USD sovereign debt markets. Prior to that, Jason was Vice President of EM Asia local currency rates and derivatives strategy at JPMorgan where he worked for four years in Hong Kong and Singapore.  In this role Jason was responsible for Emerging Asia duration strategy for the firms Government Bond-Emerging Market (GBI-EM) index series, as well as Asia cash bond, interest rates and derivatives market research. Jason started his career at Bank of America Merrill Lynch in Tokyo where he worked as a sales and trading associate on the Japanese yen rate swap and options desk.

Jason holds a Bachelor of Science in Business Administration (BSBA) from the University of North Carolina at Chapel Hill, and speaks Japanese with JLPT Level 1 certification.

Tomohiro Ishikawa

Chief regulatory engagement officer

MUFG Bank

14:0514:35

New horizons in fraud and anti-money laundering
Panel discussion

13:35 - 14:00

  • The relationship between third-party risk management and operational risk 
  • Recent developments in cyber risk and how markets need to respond 
  • The new realm of financial technology 
  • Implications of the increase in stringent regulations on data privacy   
Maiko Himori

Portfolio manager

Alternative Investment Capital Limited

14:3515:05

Managing balance sheet risk and a shifting market
Fireside chat

14:35 - 15:05

  • Key drivers for change in integrated risk frameworks around Asia-Pacific (Apac)
  • Cultivating an integrated data driven approach to risk, compliance and profitability management 
  • Use cases for multi-dimensional profitability and forecasting scenarios 

15:0515:35

Networking break

10:40 - 11:10

15:3516:00

Developments in disclosure reporting and transition planning
Panel discussion

15:05 - 15:35

  • The climate risk management outlook in Japan 
  • Regulatory movements and the applications of Task Force on Climate-Related Financial Disclosures reporting in Apac 
  • How risk managers can utilise data and analytics to take control of the challenges brought about the intensified effects of climate change 
  • Conducting climate stress tests for transition and physical risk
Tomohiro Ishikawa

Chief regulatory engagement officer

MUFG Bank

Masayuki Matsuyama

Senior economist

Development Bank of Japan Inc.

Hirotaka Hideshima

Counsellor

Norinchukin Bank

From April 2021, Hirotaka HIDESHIMA is Counsellor on Global Strategy to President and the Board of Directors of the Norinchukin Bank.  In November 2022, he became a Taskforce member of the Taskforce on Nature-related Financial Disclosures (TNFD).

Hirotaka HIDESHIMA has worked for the Bank of Japan from April 1989 to March 2021.  He has represented the Bank on the Basel Committee on Banking Supervision (BCBS) between August 2010 and September 2012, and then again between January 2018 and March 2019.  He co-chaired the Definition of Capital Subgroup (when it developed the definition of regulatory capital for Basel III), and the Macroprudential Supervision Group (when it developed the G-SIB assessment framework).  From July 2002 to July 2005, he was seconded to the BCBS Secretariat at the Bank for International Settlements.  After being part of a team dealing with Japan’s banking sector problems in the mid-1990s, he served on various working groups of the BCBS.

He was also a member of the Resolution Steering Group of the Financial Stability Board (FSB) and its Official Sector Steering Group on interest rate benchmark reform.  He has also been members of the Committee on Financial Markets of the OECD and the Committee on the Global Financial System (CGFS) of the BIS.

He has published a book entitled “BCBS from the inside: how international financial standards are developed” (in Japanese) in May 2021.

Hirotaka Hideshima studied economics and has a master’s degree from the University of Essex and a bachelor’s degree from Hitotsubashi University in Tokyo.

16:0016:30

An outlook on market volatility and interest rate risks
Panel discussion

15:40 - 16:10

  • The current market environment and its implications for risk managers  
  • Risks for emerging asset classes and the impact on portfolios 
  • Implications of higher Japanese government bond yields on allocation strategies 
  • The risk management tools available allowing access to more transparent benchmark interest rates 
Kouhei Iinuma

General manager, group integrated risk management

Shinsei Bank

Kouhei Iinuma is General Manager of Integrated Risk Management Division in Shinsei Bank. I am managing market risk and quantitative analysis including trading and banking book especially interest rate and FX products. Prior to current position, I was exotic derivative trader and product structurer. I have experienced market for twenty years. I am part-time teacher at Graduate School of Business and Finance, Waseda University.

 

Eiki Tamama

Chief Investment Officer

PROFITZ

  • In February 2020 Mr. Tamama joined a real estate investment advisory start-up in Tokyo, PROFITZ K.K. as Chief Investment Officer. PROFITZ is an established development and asset management company focused on residential and office assets in Japan with total AUM of approx. US$200 mn.
  • Prior to joining PROFITZ in February 2022, Mr. Tamama worked for Abu Dhabi Investment Authority from 2013 to 2022, and managed its real estate portfolio as a senior management in the Asia Pacific team. He primarily covered the Japan, Korea and India markets and managed US$4 bn GAV assets on average during his tenor.
  • From 2005 to 2012, Mr. Tamama worked for LaSalle Investment Management and Shinsei Bank. He sourced and made investments for LaSalle Asia Opportunity Fund I & II and acquired US$750 mn GAV assets. He also took fund management role for LaSalle Japan Logistics Fund I & II, and managed US$ 2.5 bn portfolio and led divestment of JLF I portfolio. At Shinsei Bank, Mr. Tamama led sourcing, structuring, pricing, and execution of property backed non-recourse loans. He financed approximately 100 real estate transactions and provided US$8 bn loans over five years.
  • Prior to 2005, Mr. Tamama was engaged in investment in non-performing loans (NPLs) at Daiwa SMBC Principal Investments.
  • Mr. Tamama received a BA from Keio University (Faculty of Economics) and a MS in Real Estate Development from Columbia University. He finished a general management program (GMP) at Harvard Business School. Mr. Tamama is a member of both the CFA Institute and the Royal Institution of Chartered Surveyors.

Shinichiro Itozaki

Deputy chief manager, global markets engineering office, global markets planning division

Mitsubishi UFJ Morgan Stanley Securities

Dr. Shinichiro Itozaki is a Deputy Chief Manager of Global Markets Engineering Office at Mitsubishi UFJ Morgan Stanley Securities, serving as the Japan Head of XVA Quant Team at MUFG. Dr. Itozaki has been working on policy issues, and developing industry standards, for the OTC derivatives market, covering prudential regulations, Basel rules, central clearing, uncleared margin, ISDA SIMM, interest rate benchmark reform, model risk, climate risk, carbon credit derivatives, crypo derivatives and derivatives legal documentation. Dr. Itozaki chairs the Discussion Group on Interest Rate Benchmark Transition convened by Japan Securities Dealers Association (JSDA), and represents MUFG in the ISDA Interest Rates Steering Committee and ISDA SIMM Governance Executive Committee. Dr. Itozaki received a Ph. D. in Mathematical Sciences from the University of Tokyo.

16:3016:55

Empowering risk management with AI and machine learning (ML)
Panel discussion

15:30 - 16:30

  • Real use cases of AI in risk modelling 
  • Processes AI can optimise 
  • Ethical implications and concerns of AI use 
  • Regulatory rules shaping AI use in the financial industry 
Naosuke Nakamura

Director of risk analytics

Mizuho Securities

Yutaka Sakurai

Head

AI Finance Application Research Institute

Yutaka Sakurai is data science and AI expert with a strong background in Financial theory and practice. After more than twenty years' experience of fund manager, trader and quant in Bank of Tokyo-Mitsubishi and Sony Bank, he became a managing director of Research and Pricing Technology Inc.  in 2010. He started AI Finance Application Research Institute in 2017. He published a number of books on Finance and AI.

16:5517:00

Chairperson’s closing remarks

16:30 - 16:35

Shinichi Yoshiya

Executive director and head of regulatory affairs Asia

Morgan Stanley

Shinichi Yoshiya is the Head of Regulatory Affairs for Asia in the Legal Division of Morgan Stanley. Mr. Yoshiya covers a broad range of complex cross-border financial regulatory matters for Morgan Stanley’s Asia region. Prior to joining Morgan Stanley, Mr. Yoshiya was an attorney at Davis Polk & Wardwell LLP advising on financial regulatory matters. Mr. Yoshiya has held academic appointments at Duke University Law School as Visiting Professor and currently teaches global financial regulations at Meiji University Law School. Duke University, Law School (LL.M.), Aoyama Gakuin University, Business School (M.B.A.), Sophia University (LL.B.). Mr. Yoshiya is admitted to the bar of the state of New York.ew York.

This stage will focus on cross-asset trading and derivatives topics, including: emerging markets, trading risks, ESG derivatives & artificial intelligence innovation.

13:3013:35

Chairperson's opening remarks

13:40 - 13:45

13:3514:05

Accessing the derivatives markets across Asia
Presentation

13:30 - 14:00

  • Emerging trends in the derivatives market 
  • Current dynamics of emerging market regimes in derivative trading   
  • Diversifying trading portfolios across Apac to generate returns 

14:0514:35

Trading risks and multi-asset trading in Japan
Panel discussion

11:30 - 11:55

  • The latest updates on derivatives trading and pricing, counterparty risk and valuation adjustments 
  • How the market has embraced the secured overnight financing rate 
  • Optimising collateral in current market conditions 
  • Technologies available to address current and future volatility  
  • Modelling and managing risk in trading books  
Hiroyuki Motoyoshi

Credit portfolio management office and xVA management senior expert

MUFG Bank

Mr. Motoyoshi is responsible for planning and quantitative analysis at XVA desk. He is engaged in implementing XVA reduction framework and FRTB-CVA.
He graduated from the Graduate School of Information Science and Technology of the University of Tokyo, and is a FRM.

Shigefumi Yasuda

Head of XVA trading

Mizuho Bank

14:3515:05

Managing interest rate risk and creating trading opportunities in Japan
Fireside chat

14:35 - 15:05

  • Key considerations for market traders in 2024 and beyond 
  • The impact of three-month Tokyo overnight average rate futures on global investors  
  • Implications of the reintroduction of interest rate desks for Japanese financial institutions 
  • Navigating trading restrictions and regulatory policies 
Shinichiro Arie

Chief investment officer

Amundi Japan

Shin Arie joined Amundi (former Société Générale Asset Management) in 2004 as a senior portfolio manager of both domestic and global fixed income portfolios and was appointed as Head of Fixed Income Department in 2006, and then as Chief Investment Officer / Head of Investment Management Division in 2020. Prior to joining Amundi, he was a senior portfolio manager at Toyota Asset Management (current Sumitomo Mitsui DS Asset Management), from 1999 to 2004, to manage global fixed income portfolios in both active and passive methodologies for Japanese financial institutions including pension funds. He started his investment career as a portfolio manager at Chiyoda Fire and Marine Insurance (current Aioi Nissay Dowa Insurance) in 1991 and experienced the portfolio management of Japanese/US/Global fixed income as well as derivative trading including JGB futures/options and swaps for 6 years in Tokyo and then equity portfolio management for 2 years in London.

Shin holds BEs from Kyushu University, and MBA in finance from Yokohama National University. He is a CFA charterholder.

Tatsuo Ichikawa

Managing director and head of quant team

Japan Post Bank

Tatsuo is Managing Director and Head of Quant Team in Investment Division at Japan Post Bank since 2016. He is responsible for all quantitative analysis including asset allocation, front risk management and investment strategies as well as developing trading systems for the investment division. Prior to joining Japan Post Bank, his career started with Morgan Stanley Japan in 1999 as Interest Rate Strategist after graduating from Graduate School of Waseda University with a Masters Degree in Mathematics.  In 2005, he joined ABN AMRO Securities Japan, which was subsequently integrated into RBS Securities Japan, as head of Japan Research.

Tatsuo rejoined Morgan Stanley Japan in October 2009 and became head of JGB/swap trading and sales desk.  He was promoted to Managing Director in 2010 and appointed Head of Japan Interest Rate Product Group.  He was named Co-Head of Japan Fixed Income and appointed to a Board member of Morgan Stanley Japan Holdings in January 2013. His last role at Morgan Stanley MUFG was Head of Japan Fixed Income Trading.

While working at Japan Post Bank, Tatsuo is teaching fixed income investments and ALM strategy at Tokyo Metropolitan University where he earned PhD in Business Administration.

15:0515:35

Networking break

14:30 - 15:00

15:3516:00

How traders can integrate ESG into portfolios
Panel discussion

15:00 - 15:30

  • The metrics that matter most 
  • How firms view ESG investing versus fiduciary duty 
  • Quantifying the financial impact of climate risk accurately
  • Measuring the impact of a quick transition to a greener economy 
  • The implications of carbon trading on the industry
Yasunori Iwanaga

Chief responsible investment officer

Amundi Japan

Yasunori Iwanaga represents Amundi in Japan on responsible investment and oversees the local stewardship activities. He joined Amundi Japan in 2014 as CIO and headed its investment platform for six years. Prior to this role, Yas was a managing director and CIO at BlackRock Japan, the former Barclays Global Investors Japan. He started his career in the asset management industry in 1997 at the former Nippon Credit Bank. Yas earned his BA in law from Hitotsubashi University, MBA from the Wharton School, the University of Pennsylvania, and PhD in Finance from EDHEC Risk Institute. 

16:0016:25

Moving towards a more transparent, secure and efficient trade settlement environment in Japan
Panel discussion

16:25 - 16:55

  • Best practices: adoption of foreign exchange settlement mitigation tools  
  • The future of settlement operations in Japan, and whether settlement risk can be mitigated 
  • The implications of a T+1 trading environment for Japan
  • Whether industry collaboration can facilitate transparency in FX settlement

16:3016:55

Electronification of trading: AI and machine learning (ML) in the trading desk
Panel discussion

14:00 - 14:30

  • Real use cases of AI in derivatives trading 
  • Ethical implications of AI use in trading desk 
  • Regulatory developments shaping AI use in the derivatives market 
  • How AI is enhancing the settlement process 

16:5517:00

Chairperson's closing remarks

13:30 - 13:35