Tutor Biographies


Prof Moorad Choudhry

Moorad Choudhry is Head of Business Treasury in Global Banking and Markets, Royal Bank of Scotland. He was previously Head of Treasury at Europe Arab Bank, Head of Treasury at KBC Financial Products and a Vice President in structured finance at JPMorgan Chase Bank.

Dr. Choudhry is Visiting Professor at London Metropolitan University, Visiting Professor at the School of Information Systems, Computing and Mathematics at Brunel University, and Visiting Teaching Fellow at the Department of Management, Birkbeck, University of London. He is a Fellow of the ifs-School of Finance and a Fellow of the Chartered Institute for Securities & Investment.

Mario Onorato

Mario Onorato is the Senior Director, Head of Balance Sheet & Capital Management Solutions at Algorithmics. Mario is charged with the development of ALM, Liquidity Risk, Capital Structure and shareholder value creation solutions for financial institutions and corporates. Prior to joining Algorithmics, Mario was Head of Economic Capital at Misys Banking Systems, a Scientific Consultant at KPMG, and a Corporate Finance Senior Consultant at Sanwa Bank. Mario has held a number of academic positions in The Netherlands and the UK, he is the author of several books and research papers and is Honorary Senior Lecturer, Faculty of Management at the Cass Business School, City University, London. Mario holds a PhD in Finance

Christian Goerlach heads up the Asset & Liability Management department for GTB Europe in Deutsche Bank AG. Main professional interests are in the areas Liquidity and Liquidity Risk Management, Interest Rate Risk, Funds Transfer Pricing, Collateral Management and Intraday Liquidity Management. Previous positions include Treasury and Project Management functions.

Amit Kalyanaraman

Amit has got extensive Treasury experience with banks across different countries. He has worked with Barclays for six years and his current role as Head of Product Risk Management spans a number of Treasury functions. His expertise ranges from the development of sophisticated risk management analytics and models used for Interest Rate Risk, Funds Transfer Pricing, Liquidity, Asset-Liability Management and Fx risk, as well as Balance Sheet and Prepayment Modelling techniques. He is a qualified Chartered Accountant, CFA Charterholder and Financial Risk Manager.

Gabor Winkler

Gabor is the Head of Asset-Liability Management a Raiffeisen Bank in Hungary. With his team of professionals Gabor is responsible for managing the Interest Rate risk and Liquidity Risk of the Banking Book.

Gabor has a diverse ALM experience with banks across different countries. In his previous job as a risk consultant with IPS-Sendero he advised clients in the EMEA and ASPAC region on Asset Liability Management and Funds Transfer Pricing. He has also worked as Head of Treasury Analytics for EGG Banking plc where his works amongst others included day to day management of interest rate and liquidity risk, prepayment modeling. As an Assistant Director for ALM at HBOS Treasury Services his focus was on managing the residual interest rate mismatch risk along with the liquidity risk of the bank. Gabor is a CFA Charterholder.

Colin Johnson

Colin joined Lloyds Banking Group in 2010 and holds the role of Senior Manager, Group Balance Sheet Management. In this role Colin is part of a small team responsible for the day to day management of Interest Rate Risk within the Banking Book across The Lloyds Banking Group.

Previously Colin spent 10 years managing ALM issues within the Building Society Sector, during this time covering key issues such as Liquidity, Transfer Pricing, IAS 39 and market risk.

Prof. Brian Scott-Quinn

Brian is non-executive Chairman of the ICMA Centre - the business school for financial markets which he created at the University of Reading in 1991 as a new venture.

He trained initially as a finance/ operations manager with Coats Viyella Plc. which at that time was a multinational, FTSE 100 textile company. He later moved to the City of London where, while also teaching at the University of Reading, he was a financial analyst with Kidder Peabody Securities Ltd. before becoming a founder shareholder of Ross and Partners Ltd - a privately owned Eurobond trading house which he helped set up. In 1981, he became finance and operations director of Drexel Burnham Lambert Securities Ltd, Ross & Partners successor in title. In 1986 he moved to Security Pacific Hoare Govett, a UK/US joint venture investment bank as a bond analyst and subsequently became strategy advisor to the Chief Executive. He left Security Pacific in 1990 to return to the University of Reading and set up the ICMA Centre.

Amongst his extensive consulting activities, he has been a consultant to the chief executive of the London Stock Exchange (LSE) and was on the Market Advisory Panel of Tradepoint Investment Exchange (now virt-x). He was the academic member of the Financial Services Authority (FSA) industry working group on Secondary Bond Market Transparency which examined issues relevant to the forthcoming EU, Markets in Financial Instruments, Directive (MiFID). He has been a consultant to the US Treasury and to a central bank and was a monetary policy advisor to a former UK Chancellor of the Exchequer, Lord Howe of Aberavon (Sir Geoffrey Howe) in 1978/9. He has consulted widely for investment banks and asset management houses and most recently advised a major Dubai investment bank on a strategy for growth in its securities trading business. He has also recently advised a major UK life insurer on the use of collateralised debt obligations in asset portfolios. He has been involved in an expert witness case providing input on market functioning and trading.

Christian Goerlach

Christian Goerlach heads up the Asset & Liability Management department for GTB Europe in Deutsche Bank AG. Main professional interests are in the areas Liquidity and Liquidity Risk Management, Interest Rate Risk, Funds Transfer Pricing, Collateral Management and Intraday Liquidity Management. Previous positions include Treasury and Project Management functions.



Marshal Auron

Marshal is responsible for the Federal Reserve Bank of Richmond's Risk and Policy Unit which focuses on identifying, analyzing and understanding critical risk issues in the various risk stripes, supporting supervisory projects and examinations and undertaking analysis and research to serve as a policy thought and action leader. The Unit's activities support supervision of primarily large banks within the 5th District and across the Federal Reserve System.

Prior to joining the Federal Reserve Bank of Richmond, Marshal served as a Senior Risk Consultant for Velligan-Blaxall Consultants, LLC, focusing mainly on interest rate risk, liquidity risk, enterprise risk management, and risk governance.

Marshal spent eighteen years with the Federal Home Loan Bank of Pittsburgh (FHLBank) where he served in positions including Manager of Interest Rate Risk and Chief Risk Officer. Marshal also led the FHLBank's product innovation activities and strategic planning process.

Earlier in his career, Marshal spent more than a decade with PNC Bank, Pittsburgh in the bank's treasury function and responsibilities included management of its funding and hedging activities.

Marshal received his M.B.A. from the Katz Graduate School of Business at the University of Pittsburgh and received a B.S. in Political Science and Economics from American University in Washington, DC.

Matthieu Royer

Matthieu Royer heads two groups whose responsibilities include (a) advisory on every significant new risks/products, and ROE optimization strategies, (b) developing new methodologies and tools for valuation and risk assessment, (c) portfolio risk analyses and reporting, (d) support bank's effort in regard to Regulatory and Economic Capital assessment and forecasts, as well as Liquidity and Stress tests issues, and (e) coordination of Americas' credit and development strategy, as well as providing intellectual leadership in all aspects of RAROC and Regulatory Capital modeling and methodologies.

Prior to his current position, he was a VP in Quantitative Portfolio Analytics at Credit Lyonnais where his work focused primarily on developing analytics and numerical methods for risk management, rating, LGD, early warning systems, RAROC and Basel II implementation.

He is a Steering Committee member of PRMIA New York Chapter since its founding, active member of the International Association of Credit Portfolio Managers and the Society Of Actuaries, and has followed the CFA program and participates in the CFA Institute Professional Development Program.

He holds a Master in International Political Economics & Development (IPED) and Advanced Certificate in International Business and Finance from Fordham University, an Advanced Certificate in Econometrics from University of Montreal and McGill University, and is a graduate from HEC.

Andy Jobst

Andy is currently Chief Economist and Assistant Director of the Risk Analytics Department of the Bermuda Monetary Authority (BMA) as secondee from the International Monetary Fund (IMF), where he spent the last six years as mid-career economist at the Monetary and Capital Markets Department (MCM). His work focuses on macroprudential policy and risk measurement, capital market issues (esp. structured finance), and financial regulation.

As a member of IMF Article IV missions he has been responsible for the financial sector coverage of several large mature and emerging market economies. Before his appointment at the BMA, he developed and completed the stress tests for the IMF's Financial Stability Assessment Program (FSAP) of Germany, the United Kingdom and the United States. Andy was also one of the main authors of the Global Financial Stability Report (GFSR) and contributor to the Early Warning Exercise (EWE) of the Financial Stability Board (FSB).

Andy has published more than 25 articles in peer-reviewed journals and 10 book chapters. He holds a PhD in Finance from the London School of Economics (LSE).

Amiel Goldberg

Amiel is currently a independent financial risk specialist. He has worked in numerous senior risk ad ALLM positions in a 20 year career. Full biography to follow.

Thomas Day

Thomas is a Managing Director for Sungard in their Risk solutions and Policy group. Full biography to follow

John Chapman

John started his career as a Systems Engineer and later Marketing Rep for IBM. Now trained as an economist, he has extensive experience in corporate finance and investment advisory work, with a focus on asset valuation, competitive strategy, and business development issues. In addition to sales, his prior background includes tenures in corporate strategy and economic research and consulting. Clients have included IBM, Hewlett-Packard, PepsiCo, Kraft Foods, Guidant Corp., and Kinetic Concepts, Inc. From 2006-2010 John was a research fellow and adjunct scholar at the American Enterprise Institute (AEI) in Washington, D.C., where he was involved in analytical work dealing with private equity, and he wrote extensively on topics ranging from monetary policy to economic growth. His works have been published in national publications including the Wall Street Journal, and he has done numerous interviews and speeches on current topics in finance and monetary economics.

In addition to his work at Alhambra, he is a researcher affiliated with Hill & Cutler Co., an economic consulting firm dedicated to promoting sound money (viz., a commodity such as gold) and low-tax rates on capital and corporate profits as the cornerstone of a stable, high-growth economy. There he is completing his AEI signature project, a book on the history of private equity and its impact on economic growth. John is also working with Joe Calhoun on a book due out late in 2012 on investing and capital preservation in a turbulent global economy. John holds a B.A. with high honors in Economics from Wake Forest University, an M.B.A. from Harvard Business School, and a Ph.D. in Economics from the University of Georgia. John's Archives

Olga Collins

Work history:
1999-2009 - PNC (formerly National City), Cleveland, OH
SVP, Liquidity Management, Sr.Product Manager responsible for managing of $20B in wholesale and small business deposits

2009-2010 - Capital One; Richmond, VA
Director of Liquidity, Sr. Product Manager

2011-present - Provident Bank NY
VP of Treasury, Liquidity Management

Education: MBA in Finance (CWRU, Weatherhead School of Management
MA in Languages and Literature
BA in Piano Performance

Certification: CTP (Certified Treasury Professional)
Broker licenses series 63 and 7

Kirsen Edstrom

Kirsten Edstrom is Head of Asset Liability Management, Amercas for Credti Agricole Corporate and Invesmtnet Bank, based in New York City. Full biography to follow.