CFA Society Netherlands

A Member of the CFA Institute Global Network of Societies

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On October 8th, CFA Society Netherlands presents the 2015 edition of the Best Practices conference series. This year’s conference draws attention to the multi-dimensional character of Risk Management.

Is the investment industry focusing too much on one measure of risk, too dependent on the technical, quantifiable, standards-guided method of measuring, monitoring and mitigating risk?  Are we missing crucial risk factors when we disregard human values, organizational culture, and technological progress when defining risk profiles and risk management processes?

We all know the discipline of risk management is an important and growing concern in our industry.  And typically we concern ourselves with the technical and quantifiable. There is a school of thought, though, that is looking beyond the numbers and focuses on the people behind the models: Behavioral Finance. Behavioral finance focuses on the psychological and sociological issues related to financial decision making. Despite the powerful techniques we apply, in the end we are all human.

This event provides a unique insight into some of the lesser-known and hard to quantify but ever so important aspects of risk management, for instance, cyber security, herd behavior, risk-taking behavior, and organizational culture.

We hope to see you there!

Register

For more detailed information on the program, attendance fees and regsitration and payment process please visit our Website agenda.

Annemarie Mijer, CRO of Delta Lloyd will open the event and welcome guests

 Our Speakers

Lizette Bruidegom, Senior Manager, EY Financial Services Risk on risk culture within organizations

Lizette is senior manager in EY’s Financial Services Risk Advisory group, since 2004. Formerly  she worked in the EY audit practice as an auditor since 1984, thus having over 30 years of experience in accounting and financial services risk management advisory in the financial services industry.

She has been involved in numerous risk management advisory projects in the financial services sector. This includes development and implementation of (integrated) enterprise risk management frameworks and risk management quality- and maturity assessments. She also has extensive experience with risk appetite projects (supporting development, implementation and embedding) and, as risk culture is at the intersection of behaviour and risk management, was heavily involved in the development of a risk culture scan and risk culture monitoring program.

Within EY, she has organised several round table meetings for risk managers and compliance officers working with Dutch financial institutions on various risk management related topics.

Rogier van Wanroij, Deputy Manager Expertise and Advice, NCSC will present the outcome of NCSC's soon to be released annual report on the state of cyber security in the Netherlands

Rogier van Wanroij, is the deputy manager Expertise and Advice at the Dutch National Cyber Security Centre (NCSC). The NCSC cooperates in enhancing the resilience of the Netherlands in the digital domain. Goal is to realize a safe, open and stable information society by sharing knowledge, providing insight and proper perspectives for action. The main activities of the NCSC are (a) response to threats and incidents, (b) provide expertise and advice and (c) improving crisis management. Rogier is responsible for all knowledge sharing products produced by the NCSC, for example the factsheets, security guidelines and whitepapers. In 2014 his was the editor-in-chief of the Cyber Security Assessment Netherlands (CSAN). The CSAN provides insight into developments, interests, threats and vulnerabilities in the field of cybersecurity. The CSAN is realized in cooperation with public and private parties and comprises a factual description based on insight and expertise on public services, vital sectors and science. Before working at the NCSC he was senior business consultant and information security consultant for more than twelve years at the Dutch Ministry of Defense. He was working in the field of national security, information security and intelligence services. He will provide insight into cybersecurity and the latest trends and developments in this field.

David Litchfield, Vice President, iShares Client Execution Sales will elaborate on the latest insights on liquidity risk and how to avoid being squeezed by herd-behavior of market participants

David is responsible for delivering market insights, execution services and product expertise to iShares clients in EMEA, working closely with iShares Investment Strategy & Insights, Sales and the broader iShares Capital Market team globally.
Immediately before joining BlackRock in 2015, David worked in Equity Derivatives Sales at Santander for five years, primarily responsible for UK and northern European institutional clients, prior to which he spent four years at Citigroup in which he worked across the Derivatives spectrum of roles, from Back Office, Middle Office and Sales.
Mr Litchfield holds a BSc (Hons) in Economics & Accounting with Law from Bristol University.

Utz Weitzel, Professor of Finance, Radboud University Nijmegen presents the outcome of the risk taking behavior experiment he held for members of CFA Society Netherlands and will reflect the results versus other focus groups

Utz Weitzel is Professor of Finance and Director of the Economics Department at the Radboud University Nijmegen and Professor of Economics, in particular Finance and Financial Markets, at Utrecht University School of Economics. His research topics include experimental and behavioral finance/economics, corporate finance, and decision making under uncertainty; published in, amongst others, Games and Economic Behavior, Journal of International Business Studies, Journal of International Money and Finance, Journal of Conflict Resolution, Journal of Economic Behavior and Organization, Journal of Economic Psychology, and Journal of Theoretical Biology.   After his school education in Namibia, he studied Economics and Business Administration in Germany (Universities of Augsburg and Bonn) and in Great Britain (University of Reading). He obtained a PhD from the Humboldt-University Berlin and was a post-doc at the J.L. Kellogg Graduate School of Management, Northwestern University, Evanston (Chicago). After that he worked a couple of years as a consultant and manager. Before his appointment in Nijmegen, he was affiliated with Utrecht University and the Max Planck Institute of Economics in Jena.

 

Rem​co Zwinkels, Associate Professor at VU University, will be our moderator for the day

Remco is Associate professor of finance at the VU University Amsterdam. Before, he was assistant professor in international finance as well as the head of the finance group at the Erasmus School of Economics. He holds a MSc in monetary economics from the Erasmus University, an MPhil from the Tinbergen Institute, and a PhD from the Radboud University Nijmegen. Remco is a visiting scholar at the University of Technnology in Sydney and the Auckland University of Technology. His main research interest lies in the field of behavioral finance, and expectation formation in particular.  Remco is a certified teacher and has taught a large number of courses, ranging from international economics, monetary economics, to empirical finance and risk management. Currently, he is the academic director of the post-graduate master in Risk Management for Financial Institutions at the VU.

 

Thursday, ​8 October 2015

 

Program:

Registration   14:00

Start of Program   14:30

Drinks   17:30

End of Program   18:30

 

Auditorium of Delta Lloyd

Spaklerweg 4

1096 BA Amsterdam

Important: Delta Lloyd is located at Amstel Station.  There is no on-site parking and very limited parking in the neighborhood.  We stongly recommend public transportation.

 

Register

 

 Our Sponsors

Event Sponsor​

Partner Sponsors

 

 

 

 

 

 Links and Resources

CFA Institute Webinar on 18 September: Risk in the eye of the beholder. Behavioural Aspects of Risk.

CFA Institute video webcast 3 March 2015: Cyber Risk: What you need to know.

EY Industry Risk Management Survey: Shifting focus: Risk culture at the forefront of banking.

CFA Digest: Evaporating Liquidity

CFA Institute Take 15 Series: The Biology of Risk Taking

 R. Huisman, N.L. van der Sar, R. Zwinkels: A New Measurement Method of Investor Overconfidence

Willem Verschoor, R. Zwinkels: Nieuwe Prijsvorming op Financiele Markten

B. Barber, T. Odean: Behavior of Individual Investors

Terry Jones, Theo Kocken: Video trailor Boom Bust Boom

 Best Practices Series

The CFA Society Netherlands Best Practices Series is an opportunity for investment insight, reflection and networking in a professional environment and will be interesting and beneficial to investors, financial analysts, regulators, politicians and academia. Prior Best Practices events have covered ESG investing and Behavioral Finance.  The afternoon is interactive with ample opportunity to ask questions and to share your views with the audience. All are welcome.