Page 1 of 2

MARKET RISK ADVISORY COMMITTEE MEETING

June 12, 2019 

U.S. Commodity Futures Trading Commission

1155 21st Street, N.W.

Washington, DC 20581

AGENDA

Time Item

9:30 a.m. Welcome and Opening Remarks

• Rostin Behnam, MRAC Sponsor and Commissioner, Commodity Futures 

Trading Commission (CFTC)

• J. Christopher Giancarlo, Chairman, CFTC

• Brian D. Quintenz, Commissioner, CFTC

• Dawn DeBerry Stump, Commissioner, CFTC

• Dan M. Berkovitz, Commissioner, CFTC

MRAC Chair Introduction

• Nadia Zakir, Executive Vice President and Deputy General Counsel, 

Pacific Investment Management Company LLC (PIMCO)

10:00 a.m. Panel 1: Domestic and International Policy Initiatives regarding Climaterelated Market Risks to the Financial System

Description:

A discussion of the financial market risks related to climate change, 

including current domestic and international policy initiatives and supervisory 

approaches to address such risks, and the potential impact of climate change 

on the future stability of the global financial system.

Key Speakers:

• Sarah Breeden, Executive Director of International Banks Division, 

Prudential Regulation Authority, Bank of England

• Stacy Coleman, Managing Director, Promontory Financial Group; 

Secretariat, Financial Stability Board’s Taskforce on Climate-related 

Financial Disclosures

• Dave Jones, Director, Climate Risk Initiative, Center for Law, Energy & 

the Environment at the University of California Berkeley School of Law; 

Former California Insurance Commissioner
Page 2 of 2

Time Item

10:50 a.m. Panel 2: Market Participant Approaches to the Management and Mitigation 

of Climate-Related Financial Market Risks 

Description: 

A discussion of market participants’ management and ongoing efforts to 

mitigate climate-related financial market risks, including key risk management, 

governance, and disclosure considerations, and the challenges ahead for 

regulators and market participants.

Key Speakers:

• Nancy Meyer, Director of Corporate Engagement, Center for Climate 

and Energy Solutions

• Kristen Walters, Global Chief Operating Officer of Risk and Quantitative 

Analysis Group, BlackRock

• Matthias Graulich, Member of the Executive Board and Chief Strategy 

Officer, Eurex Clearing AG

• Dr. Stefano Giglio, Professor of Finance, Yale School of Management

11:40 a.m. MRAC New Business- Establishment of Subcommittees

Noon Report from Interest Rate Benchmark Reform Subcommittee

• Thomas Wipf, Subcommittee Chairman, Vice Chairman, Institutional 

Securities, Morgan Stanley

• Biswarup Chatterjee, Subcommittee Initial Margin Working Group 

Leader, Global Head of Electronic Trading & New Business 

Development, Credit Markets, Citigroup

• Marnie Rosenberg, Subcommittee Clearing Working Group Leader, 

Managing Director and Global Head of Clearinghouse Risk & Strategy, 

JP Morgan

• Ann Battle, Subcommittee Disclosure Working Group Leader, Assistant 

General Counsel, International Swaps and Derivatives Association, Inc.

(“ISDA”)

12:30 p.m. LUNCH

1:30 p.m. Remarks by Steven Maijoor, European Securities and Markets Authority 

(“ESMA”) Chair

2:35 p.m. Closing Remarks

2:45 p.m. Adjournment