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Mark Carney

The Value of the Global Climate

Featured Speaker, Mark Carney, Governor, Bank of England (2013-2020) will discuss climate change, arguing that the roots of our environmental emergency lie in a deeper crisis of values.

Agenda at a Glance

Keynote Sessions

9:00 a.m - 11:00 a.m. (EDT)
A World of Opportunity

Featuring Exclusive Product Showcase

Karen White
Chief Executive Officer, RMS
Karen White Chief Executive Officer, RMS

Karen White is the Chief Executive Officer for RMS. She is an accomplished leader in the technology industry, with a 25-year track record of leading, innovating, and scaling global technology businesses. Karen is an expert at bringing technology, innovation, data, and operations together to help drive digital transformation.

Karen started her career in Silicon Valley in 1993 as a senior executive at Oracle reporting to CEO Larry Ellison. Her global responsibilities included business development during a time of massive transformation in the computer industry. During her seven years at Oracle, the company’s revenue grew to $10 billion, profits increased nearly 65x, and the market valuation grew to more than $150 billion. Most recently, Karen was President and COO at Addepar, a leading fintech company serving the investment management industry with data and analytics solutions that are replacing decades old legacy systems with leading-edge tech. Addepar’s SaaS platform now supports $800 billion in total assets, and it counts some of the world’s leading global financial services firms as customers and partners. Prior to Addepar, Karen was CEO and Chairman of the Board at Syncplicity, a leading enterprise file sync and management SaaS business aimed at enterprises as well as the mid-market. She led the company from first product launch to 30,000 customers, culminating in the acquisition of Syncplicity by EMC in 2012. Previously, Karen led worldwide corporate and business development at SolarWinds, a top IT and network management software company whose customers included the Fortune 500. The company was listed on the Nasdaq with a successful IPO in 2009, valuing the business at nearly $1 billion.

Karen is currently on the Board of Directors at Varo Money, a mobile banking fintech that seeks to be the first fintech national bank in American history and has applied for a national bank charter.

Cihan Biyikoglu
Executive Vice President, Product, RMS
Cihan Biyikoglu Executive Vice President, Product, RMS

Cihan Biyikoglu is the Executive Vice President, Product for RMS, responsible for product management across the full suite of RMS models and risk management tools. He has extensive experience of leading product management for innovative machine learning and big data analytics solutions at Fortune 500 companies over the last 20 years. As a former Vice President of Product at Databricks and Redis Labs, Cihan both developed the product strategy and road map for open-source technologies such as Apache Spark and Redis and respective enterprise offerings in the public and private cloud platforms.

Cihan also worked on products at Microsoft, Couchbase, and Twitter, where he focused on on-premises and cloud offerings in the data and analytics space. At Microsoft, Cihan focused on the incubation of the Azure Cloud Platform in its early days and the SQL Server product line, both of which have grown to multi-billion-dollar businesses for Microsoft.

Cihan holds a number of patents in the data management and analytics space, and he has a master’s degree in database systems and a bachelor’s degree in computer engineering.

Moe Khosravy
Executive Vice President, Software and Platform, RMS
Moe Khosravy Executive Vice President, Software and Platform, RMS

Moe Khosravy is the EVP of Software and Platform at RMS. He brings 20 years of software experience on products and platforms differentiated by data and applied machine learning.

Most recently, Moe was VP of Software at HP Inc., supporting hundreds of millions of connected devices and clients including platforms for big data, computer vision, and applied ML for the 2D and 3D printing businesses. Prior to HP, Moe was Head of Applications and SDKs at Intel, focused on building experiences differentiated by AI, NLP, and rich sensor technologies. Moe also brings experience from VMware as VP of Mobile and Cloud Data, from Microsoft with leadership roles across Cloud, Search, Windows, Server and Tools, and from Vital Images as an Architect in the advanced technologies group focused on CT/MR software solutions.

Moe has over 90 software patents pending or granted in the realm of distributed systems, AI, vision, and data platforms. He serves on the Board of Directors for Equbot, the first ETF built on machine learning, as well as on the Board of Directors for Delta v, MIT’s flagship startup accelerator.

Moe received his MBA from MIT and studied neuroscience/computer science at the University of Minnesota.

Fireside Chat with Rob Fauber and Michael Steel
Rob Fauber
President and Chief Executive Officer, Moody’s Corporation
Rob Fauber President and Chief Executive Officer, Moody’s Corporation

Robert Fauber became President and Chief Executive Officer of Moody’s Corporation on January 1, 2021 and was elected to the Board of Directors effective October 22, 2020.

Mr. Fauber joined Moody’s in 2005 and has held multiple leadership roles at Moody’s. Until his appointment as CEO, he was Moody’s Chief Operating Officer and drove strategic initiatives across the company. He served as President of Moody’s Investors Service from 2016 to 2019 and was Head of Moody’s Investors Service’s Global Commercial Group from 2013 to 2016, overseeing relationship management, product development, and strategy for the rating agency. Mr. Fauber has also served as Head of Moody’s Corporate Development. Prior to Moody’s, he held roles in alternative investments, corporate strategy & business development, and investment banking at Citi.

Mr. Fauber earned his B.A. in economics from the University of Virginia and his M.B.A. from the Johnson School of Management at Cornell University. He and his wife have two children.

Michael Steel
General Manager, RMS
Michael Steel General Manager, RMS

Michael Steel is General Manager at RMS. Michael joined RMS in 2016 to bring innovations in modeling and technology to solve the key risk management challenges faced by insurers. He has more than 30 years’ experience in risk and capital management gained in the insurance industry. Prior to RMS, Michael was the Group Chief Risk Officer at AXIS Capital, following a career in reinsurance broking, including 12 years at Benfield (now Aon Benfield) where he led the ReMetrics team in addition to leading teams in the development of innovative solutions in the reinsurance and capital markets.

In addition to his role with RMS, Michael serves as an Independent Non-Executive Director on the board of Allianz Re Dublin dac. Michael previously served as an Independent Non-Executive Director on the board of Berkshire Hathaway’s international business, as an Appointed Director on the Casualty Actuarial Society, and as Chairman of the Geneva Association’s CRO Network. He holds a bachelor’s degree with honors in statistics and mathematics from Brunel University.

9:00 a.m - 11:30 a.m. (EDT)
Attribution – Adaptation – Insurance
Robert Muir-Wood, PhD
Chief Research Officer, RMS
Robert Muir-Wood, PhD Chief Research Officer, RMS

Robert Muir-Wood is the Chief Research Officer at RMS. He works to enhance approaches to natural catastrophe modeling, identify models for new areas of risk, and explore expanded applications for catastrophe modeling. Recently, he has been focusing on identifying the potential locations and consequences of magnitude 9 earthquakes worldwide.

In 2012, as part of Mexico's presidency of the G20, he helped promote government usage of catastrophe models for managing national disaster risks. Robert has more than 20 years of experience developing probabilistic catastrophe models. He was lead author for the 2007 IPCC 4th Assessment Report and 2011 IPCC Special Report on Extremes, is a member of the Climate Risk and Insurance Working Group for the Geneva Association, and is vice-chair of the OECD panel on the Financial Consequences of Large-Scale Catastrophes.

He is the author of six books, as well as numerous papers and articles in scientific and industry publications. He holds a degree in natural sciences and a PhD in earth sciences, both from Cambridge University.

Managing Future Climate Risk in a Connected World
Mohsen Rahnama, PhD
Chief Risk Modeling Officer and Executive Vice President, Models and Data, RMS
Mohsen Rahnama, PhD Chief Risk Modeling Officer and Executive Vice President, Models and Data, RMS

Mohsen Rahnama is the senior executive for RMS models and data products, as well as the Chief Risk Modeling Officer. He leads a global team of scientists, engineers, and product managers responsible for the development and delivery of all RMS catastrophe models and data.

During his 20 years at RMS, Mohsen has been the passionate and hands-on leader of the largest and most global team of catastrophe modeling professionals in the industry across over two dozen fields of study. He is the publisher of the RMS Horizons series of modeling papers, has authored numerous scientific publications, leads many research collaborations throughout the world, and is a frequent speaker at scientific and risk management industry events.

He has 30 years of experience in structural engineering, catastrophe modeling, and risk assessment. He holds a master’s degree and doctorate in earthquake and structural engineering from Stanford University.

The Value of the Global Climate and Q&A with Mark Carney and Michael Steel
Mark Carney
Governor, Bank of England (2013-2020)
Mark Carney Governor, Bank of England (2013-2020)

Mark Carney has spent his life in various financial roles, in both the public and private sector. His experiences as governor of the Bank of England (2013-2020), governor of the Bank of Canada (2008-2013), and now as UN Special Envoy on Climate Action and Finance, offer him a unique position to provide tangible action plans for leaders, companies and countries to transform the value of the market back into the value of humanity.

During his thirteen-year career with Goldman Sachs, Carney helped a series of emerging economies, including post-apartheid South Africa, gain access to international capital markets. Carney was appointed Deputy Governor of the Bank of Canada in August 2003. In November 2004, he left the Bank of Canada to become Senior Associate Deputy Minister of Finance, where he oversaw five budgets during a series of minority parliaments and represented Canada at the G7 and G20. He was appointed as Governor of the Bank of Canada during the midst of the 2008 financial crisis, taking immediate action, including pre-emptively restructuring the $200 billion CDO market, and reducing interest rates before most other countries and committing to hold them down for 12 months after, a groundbreaking move that supported Canadian credit markets and business confidence. As a result of Carney’s actions, Canada was able to return to prerecession levels of output and employment earlier than others in the G7.

In 2012 U.K. Chancellor of the Exchequer George Osborne stunned observers when he declared that Carney would succeed Lord Mervyn King as governor of the Bank of England, marking the first time that a non-Briton was appointed to the position. Carney quickly adopted the “forward guidance” strategy he had applied in Canada—navigating the United Kingdom through falling unemployment rates, rising interest rates, and Brexit. He is credited with focusing attention on modern challenges including digital currencies and climate change, launching the bank’s first climate-related stress tests. He stepped down as governor of the Bank of England when his term ended in 2020.

His new book VALUE(S): Building a Better World for All, is a meditation on his experiences that examines the short-comings and challenges of the market in the past decade which he argues has led to rampant, public distrust and the need for radical change.

Carney earned his bachelor’s degree from Harvard University, and went on to receive both a master’s degree and doctorate in Economics from Oxford University. He now resides in Ottawa, Canada.

Michael Steel
General Manager, RMS
Michael Steel General Manager, RMS

Michael Steel is General Manager at RMS. Michael joined RMS in 2016 to bring innovations in modeling and technology to solve the key risk management challenges faced by insurers. He has more than 30 years’ experience in risk and capital management gained in the insurance industry. Prior to RMS, Michael was the Group Chief Risk Officer at AXIS Capital, following a career in reinsurance broking, including 12 years at Benfield (now Aon Benfield) where he led the ReMetrics team in addition to leading teams in the development of innovative solutions in the reinsurance and capital markets.

In addition to his role with RMS, Michael serves as an Independent Non-Executive Director on the board of Allianz Re Dublin dac. Michael previously served as an Independent Non-Executive Director on the board of Berkshire Hathaway’s international business, as an Appointed Director on the Casualty Actuarial Society, and as Chairman of the Geneva Association’s CRO Network. He holds a bachelor’s degree with honors in statistics and mathematics from Brunel University.

Breakout Tracks

Available On Demand Tuesday, May 17, 11:00 a.m. (EDT)

If you’re serious about mastering your biggest risk management challenges in 2022, you’ll want to find the shortest path possible to the insights you need most. RMS is here to help. We’ve planned Exceedance 2022 around seven content tracks that are designed to make your time at this virtual event as productive as possible!

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Unlock Opportunities with Holistic Catastrophe Modeling

Learn about the continuous RMS® investment in innovation and state-of-the-art models and how it unlocks new opportunities for the industry – in a volatile world with a changing climate and wide range of emerging risks. Join us to capture a holistic view of catastrophe losses and find out more about the latest suite of catastrophe models, the importance of model completeness, and the evolving regulatory landscape. RMS models continue to enable the (re)insurance industry to make crucial decisions, from the onset of events with RMS Event Response to long-term risk management with probabilistic models.

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Explore RMS and Moody’s ESG and Climate Capabilities

Climate change and sustainability are fundamental considerations to help seize opportunities and manage risk in today’s market. Learn about holistic approaches in managing environmental, social, and governance (ESG) and climate change risk across business operations – informed by the combined expertise of RMS and Moody’s. Explore how we integrate physical and transition risk for portfolio management and emerging regulatory exercises using our scenario analysis and modeling capabilities.

Expand-Essential
Uncover Key Insights from Industry Experts

Join us as guest speakers from the (re)insurance industry and experts present their views on how to better understand, manage, and transfer risk to uncover opportunities. We’ll explore today’s most critical and relevant topics, such as the state of the market, climate change, emerging risks, and the future of risk.

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Discover Opportunities with Proactive Portfolio Management

Effective portfolio management drives strategies that uncover opportunities and actively manage risk for any (re)insurer’s short- and long-term success. Get insights on how to grow and optimize your portfolio and maximize the efficiency of your capital. Find out how using accumulation and loss analytics with the RMS Intelligent Risk Platform offers a global view of risk. Hear from peers who have already implemented these solutions and how their approach improved event response, portfolio management, and underwriting workflows.

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Improve the Entire Value Chain of Underwriting

For (re)insurance underwriters and facilitators, the importance of superior decision-making at the point of underwriting is the foundation for profitability and go-to-market strategies. RMS data and solutions help grow premium and improve risk selection while maintaining a consistent view of risk throughout the organization, whether you work with underwriting teams in direct insurance or treaty reinsurance. Discover how to implement actionable insight into workflows using the RMS Intelligent Risk Platform™. Get real-world examples of how our solutions lead to improved underwriting performance across different lines of business.

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Enhance Risk Strategy with Technology and the RMS Intelligent Risk Platform

As technology and innovation evolve, applying software solutions thoughtfully across the organization supports and enables business growth and opportunities. Join us to learn how the RMS Intelligent Risk Platform helps meet the challenges of today’s rapidly changing environment and go deeper on how to use platform capabilities, such as REST APIs and RMS Data Bridge. Drawing on our extensive work with the (re)insurance industry, our experience can guide you through your migration to the cloud by leveraging automation frameworks, best practices, and lessons learned.

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Expand Essential Knowledge with Modeling Fundamentals

Join us for a comprehensive overview of catastrophe modeling fundamentals essential for understanding what drives risk management. Expand your knowledge of peril models, including earthquake, windstorm, terrorism, cyber, and tropical cyclone. Gain insight into the interpretation of model results through case studies and real-life examples, and explore the theory behind HD modeling.

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