HK SFC Sets up Centralised Unit on Risk Management Headed By Benedicte Nolens
The setting up of the Risk and Strategy Unit is in line with the SFC’s statutory objectives of reducing systemic risks and maintaining financial stability in the securities and futures markets.
The Unit will be headed by Ms Bénédicte Nolens, who has been appointed as Senior Director of Risk and Strategy (Note 1).
Reporting to the Chief Executive Officer, the new Unit is tasked with identifying and evaluating significant risks facing the financial sector and working with SFC divisions to determine the priorities for the SFC to address these risks.
“A centralised approach to risk will help the SFC to more effectively coordinate its overall strategy to deal effectively with the range of risks affecting market participants and investors – many of which are complex and have a significant international dimension,” the SFC’s Chief Executive Officer, Mr Ashley Alder said.
“It will allow the Commission to adopt a focussed approach to its work as a market regulator, increasing our ability to assess and react to the significance of developing risks across local and overseas markets,” he added.
1. Ms Nolens will join the SFC on 5 March 2012. Before joining the SFC, she was a Managing Director and the Head of Compliance for the Asia Pacific region at Credit Suisse, overseeing compliance for the Investment Banking, Private Banking and Asset Management divisions.