Finance for Development

June 6–8 2018, Saint - Petersburg


Programme

Download programme for the 'Finance for Development' 26th International Financial Congress


Programme accurate as at July 14, 2017

Wednesday, July 12, 2017
19:00–21:00

Ballet performance of Anna Karenina at the Mariinsky Theatre (new stage)


Mariinsky Theatre New Stage (Mariinsky II)


Thursday, July 13, 2017
08:00–09:00

Registration


09:00–10:00

Messages of support received by IFC-2017


Presidential Library, Plenary session hall (second floor)


09:00–10:00

Presentation by Elvira Nabiullina, Governor, Bank of Russia


Presidential Library, Plenary session hall (second floor)


10:00–11:30

Plenary session: Finance for Development


Presidential Library, Plenary session hall (second floor)


Supporting economic development, one of the most complex tasks society faces nowadays, is determined by effective collaboration between all stakeholders and interested parties. Central bank policies - from monetary policy to prudential supervision, - serve to create an atmosphere of mutual trust and confidence among market participants, facilitate development of technological innovations, and provide the economy with valuable resources, including long-term savings. No less important is to take into account the growing dependence of financial markets on externalities. While developing its policies, how should a central bank weigh all those factors in order to achieve its targets and ensure conditions for sustainable economic growth?


Moderator:

Elvira Nabiullina – Governor, Bank of Russia


Speakers:

Zeti Akhtar Aziz – Economist, Governor of the Central Bank of Malaysia (2000–2016)

Marek Belka – Former Prime Minister, Minister of Finance and Head of the National Bank of Poland

Stephen Cecchetti – Professor of International Economics, Brandeis International Business School

Jacob Frenkel – Chairman, JPMorgan Chase International; Governor, Bank of Israel (1991–2000)

11:30–12:00

Coffee break


12:00–13:00

A dialogue between the Minister of Economic Development of the Russian Federation Maksim Oreshkin and the Governor of the Bank of Russia Elvira Nabiullina


Presidential Library, Plenary session hall (second floor)



Presentation by:

Maxim Oreshkin – Minister of Economic Development of the Russian Federation

13:00–14:30

Lunch


Restaurants for the Congress participants (4, Konnogvardeysky Bulvar)


14:30–16:00

Panel session I: Banks’ fate: how to survive the challenges of fintech and regulatory pressure


Presidential Library, Plenary session hall (second floor)


Banks are experiencing growing competition from fintech companies, while also finding themselves in unfavourable competitive conditions due to elevated risks and strengthening regulatory pressure. How can banks address these new challenges?


Moderator:

Dmitry Tulin – First Deputy Governor, Bank of Russia


Speakers:

Mikhail Alekseev – Chairman of the Management Board, UniCredit Bank JSC

Herman Gref – Chief Executive Officer, Chairman of the Executive Board, Sberbank

Andrey Kostin – President, Chairman of the Management Board, Member of the Supervisory Council, Member of the Strategy and Corporate Governance Committee, VTB Bank

Sergey Monin – Chairman of the Managing Board, Raiffeisenbank

Oleg Tinkov – Chairman of the Board of Directors, Tinkoff Bank

16:00–16:30

Coffee break


16:30–18:00

Roundtable 1.1: Macroprudential policy and its role in ensuring financial stability


Presidential Library, Roundtable hall 1 (first floor)


For discussion:
• Using DTI and LTV in systemic risk regulation practices
• The effectiveness of macroprudential measures: experiences collected from across different countries
• Interaction between macroprudential and monetary policy


Moderator:

Elizaveta Danilova – Acting Director Financial Stability Department Bank of Russia


Speakers:

Mikhail Alekseev – Chairman of the Management Board, UniCredit Bank JSC

Lillian Cheung – Executive Director (Research), Hong Kong Monetary Authority (HKMA)

Nigel Jenkinson – Division Chief, Financial Supervision and Regulation Division, International Monetary Fund (IMF)

Alexey Simanovskiy – Adviser to the Governor of the Bank of Russia

Ekaterina Trofimova – Chief Executive Officer, Analytical Credit Rating Agency (ACRA)

Michael Würz – Head, Financial Stability and Macroprudential Supervision Division, Oesterreichische Nationalbank

16:30–18:00

Roundtable 1.2: Banking Regulation for stimulation of economic development: opportunities and limitations


The Manege Central Exhibition Hall, Roundtable hall 6 (second floor)


Traditionally, the explicit goal of banking regulation is to limit risk. Is it also possible to use banking regulation for the purpose of stimulating economic development without hindering the achievement of this main goal?


Moderator:

Vasily Pozdyshev – Deputy Governor, Central Bank of the Russian Federation


Speakers:

Kathleen Krause – Senior Advisor, Prudential and Foreign Exchange Regulation Department, Bank of Brazil

Alexey Lobanov – Director, Banking Regulation Department, Bank of Russia

Mario Nava – Director of Dir E, Financial system surveillance and crisis management DG for Financial Stability, Financial Services and Capital Markets Union, European Commission

Olya Ranguelova – Deputy Head, SSM Secretariat and Coordination Division International Affairs Department, Prudential Supervisory and Resolution Authority, Bank of France

Sergey Solonin – CEO, FinTech Association

Alina Vetrova – Member of Management Board, First Vice President, Association of Regional Banks of Russia (Association “Russia”)

16:30–18:00

Roundtable 1.3: Insurance market growth drivers


The Manege Central Exhibition Hall, Roundtable hall 7 (second floor)


For discussion:
• Trend analysis, search for new points of growth, the possibility of a shift in drivers
• Life insurance – the ‘engine’ of the modern insurance market in Russia (investment life insurance as the main driver of this segment; risks in bancassurance)
• Prospects for the participation of insurers in the Pension System of the Russian Federation (from the positions of insurers, clients, and the regulator)
• Solvency II – challenges and opportunities
• Improving mechanisms for regulating the activities of insurance intermediaries
• Electronic technologies in insurance – outcomes, difficulties encountered, prospects for development:
— Battling insurance fraud and cyber crime
— Electronic insurance policies
— Improving the quality of information exchange
— Pressing issues related to adapting to new requirements
• Development of practical recommendations


Moderator:

Igor Yurgens – President, All-Russian Insurance Association


Speakers:

Vera Balakireva – Deputy Head, Financial Policy Department, Ministry of Finance of the Russian Federation

Vladimir Chistyukhin – Deputy Governor, Bank of Russia

Nikolay Galushin – President, Chairman of the Management Board, Russian National Reinsurance Company JSC

Julianne Lee – Head of Government Relations, EMEA Region, MetLife

Andrey Ryzhakov – CEO, AlfaStrakhovanie – OMS

Frank Schauff – Chief Executive Officer, Association of European Businesses

16:30–18:00

Roundtable 1.4: Insider trading and market manipulation


The Manege Central Exhibition Hall, Roundtable hall 3 (first floor)


For discussion:
• Combatting insider trading and market manipulation as a tool to facilitate fair competition and business efficiency
• Effectiveness of existing mechanisms for combatting insider trading and market manipulation, justifiability of expenditure on combatting similar abusive practices
• Corporate culture and procedures as natural internal safeguarding tools
• The latest regulatory innovations for combatting malpractice behaviours
• International experience in developing, introducing, and executing measures to combat insider trading and market manipulation


Moderator:

Nikolay Korzhenevsky – Anchor, Russia 24 TV Channel


Speakers:

Andrey Emelin – Chairman, National Council for Financial Market, Member of Expert Council, State Duma Committee on Financial Markets

Dmitry Heilo – Head of Regulatory Control Department, Member of the Board of Directors, Sberbank CIB JSC

Valery Lyakh – Head, Main Office for Countering Malpractice in the Open Market, Central Bank of the Russian Federation

Yuri Mintsev – General Director, Otkritie Broker JSC

Sergey Romanchuk – Head, Foreign Exchange and Money Markets, Metallinvestbank; President, ACI Russia – The Financial Markets Association

16:30–18:00

Roundtable 1.5: Protecting the rights of investors and financial services consumers: the role and objectives of conduct oversight


The Manege Central Exhibition Hall, Roundtable hall 5 (first floor)


For discussion:
• Conduct oversight and a risk-based approach to protecting financial services consumers: international experience
• Outcomes of the work done by the Service for Consumer Protection and Financial Inclusion in 2016 and main areas of focus for the current year
• Cooperation between the Bank of Russia and the Federal Service for Surveillance on Consumer Rights Protection and Human Wellbeing to protect financial services consumers
• The role of self-regulatory organizations in the protection of financial services consumers


Moderator:

Mikhail Mamuta – Head, Service for Consumer Protection and Financial Inclusion, Bank of Russia


Speakers:

Alfred Hannig – Executive Director, Alliance for Financial Inclusion

Victor Klimov – Member of Central Staff, All-Russia People’s Front (ONF); Head of ONF’s For Borrowers’ Rights project

Maria Lucia Leitão – Head, Banking Conduct Supervision Department, Banco de Portugal

Pavel Medvedev – Financial Ombudsman

Elman Mekhtiev – Executive Vice President, Association of Russian Banks

Alexei Savatyugin – President, National Partnership of Microfinance Market Stakeholders

16:30–18:00

Roundtable 1.6: The digital economy and innovations in the financial sector


The Manege Central Exhibition Hall, Roundtable hall 4 (first floor)


For discussion:
• The key role of digital technologies in increasing innovation in the economy and the state
• The digital transformation of the financial sector
• The financial sector as a driver of development in the innovation economy
• The role of the state in the formation of modern financial market infrastructure
• Key technology trends that are transforming the financial market
• Remote identification as the foundation for developing digital financial services


Moderator:

Olga Skorobogatova – Deputy Governor, Bank of Russia


Speakers:

Anatoly Aksakov – Chairman of the Committee of the State Duma of the Federal Assembly of the Russian Federation on Financial Markets; President, Association of Regional Banks of Russia (Association ‘Russia’)

Evgeny Dankevich – Chairman of the Management Board, Bank Otkritie Financial Corporation PJSC

Yury Isaev – General Director, Deposit Insurance Agency, Russia

Lev Khasis – First Deputy Chairman of the Executive Board, Sberbank

Igor Shchegolev – Aide to the President of the Russian Federation

Nikolay Zhuravlev – First Deputy Chairman, Council of the Federation Budget and Financial Markets Committee

16:30–18:00

Roundtable 1.7: The role of the regulator in enhancing the financial market’s confidence in the performance of auditors


Presidential Library, Roundtable hall 2 (first floor)


For discussion:
The quality of auditing is of utmost priority today, as shareholders, financial services consumers, and even regulators have in most cases no possibility to independently verify the reliability and completeness of disclosed information or to assess the quality of corporate governance and the performance of risk management systems.
It is the external audit institution that is called upon to perform this function in the financial market, a function that instils confidence in the information on which investors and regulators base their decisions.
Within the framework of the roundtable, participants will be asked to answer the following questions:
Auditing: what is it and who is it for?
Does the quality of an audit depend solely on the auditor?
Interaction between the auditor and oversight authorities: opportunities and limitations


Moderator:

Yelena Kuritsyna – Director, Financial Market Access, Bank of Russia


Speakers:

Ilgiz Baymuratov – Partner, Deputy CEO of OOO FinExpertiza

Elizaveta Filippova – General Director, PwC Audit

Kirill Lukashuk – Senior Director, Head of Bank Ratings Group, Analytical Credit Rating Agency JSC

Fernando Teixeira Pintu – Director, Audit Oversight Department, Portuguese Securities Market Commission

Nadya Wells – Independent Director, Member of the Audit Committee, Sberbank

18:00–18:30

Coffee break


18:30–20:00

Roundtable 2.1: The Russian economy: beyond the horizon (in cooperation with Vedomosti)


The Manege Central Exhibition Hall, Roundtable hall 4 (first floor)


The possible contours of a new economic model for Russia will be the main topic of discussion. Participants will seek to assess the possibility of reforming the Russian economy using German ‘templates’ while taking account of existing structural limitations. The impacts of robotization, Uberization, and other innovations on macroeconomics will also be considered.


Moderator:

Philip Sterkin – Economics Editor, Vedomosti


Speakers:

Marek Belka – Former Prime Minister, Minister of Finance and Head of the National Bank of Poland

Andrei Klepach – Deputy Chairman (Chief Economist), Member of the Board, Bank for Development and Foreign Economic Affairs (Vnesheconombank)

Iikka Korhonen – Head, Institute for Economies in Transition, Bank of Finland

Vladimir Matias – Managing Director, Representative Office of the Goetzpartners Russia GmbH

Alexander Morozov – Director, Research and Forecast Department, Bank of Russia

Oleg Vyugin – Member of the Board of Directors, Independent Director, Rosneft; Professor, National Research University Higher School of Economics

18:30–20:00

Roundtable 2.2: Dialogue with the regulator: from cleaning up of the market towards a consultative approach to banking supervision


The Manege Central Exhibition Hall, Roundtable hall 6 (second floor)


As the market is cleared of unscrupulous bank owners and managers, approaches to banking supervision must change. How can the relationships between banks and supervisors be made more collaborative?


Moderator:

Olga Polyakova – Deputy Governor, Bank of Russia


Speakers:

Natalia Boksha – Partner at McKinsey Moscow

Sergey Hotimsky – Member of Management Board, Sovcombank PJSC

Yury Isaev – General Director, Deposit Insurance Agency, Russia

Sergey Neklyudov – Partner, Head of Financial Institutions Services, Deloitte and Touche CIS CJSC

Dmitry Olyunin – Chairman of the Management Board, ROSBANK PJSC

Olga Varnene – Director – Central and Eastern Europe (CEE) Cluster Head, Citibank

18:30–20:00

Roundtable 2.3: Financial market infrastructure: from tradition to innovation


Presidential Library, Roundtable hall 2 (first floor)


A full year has passed since legislative amendments allowing corporations to use the cascade method went into effect. Accounting infrastructure has become a key element in corporate events and the transport system for information and monetary exchange between the issuer of stocks or bonds and the investor. Holders of securities no longer need to interact directly with the issuer in order to exercise their rights. Both information and declarations of intent can now be transferred electronically. Voting at general shareholder meetings can also be done online.
Have the expectations of shareholders and bond holders been met? Have the lives of issuers been made easier? Has the new system provided an incentive for investors, including foreign investors, to participate more actively in corporate events? What problems has the market faced? Can a boom in electronic voting be expected? What are the paths for further development?


Moderator:

Eddie Astanin – Chairman of the Executive Board, National Settlement Depository


Speakers:

Mikhail Bratanov – Director of Securities Services, ROSBANK PJSC

Olga Dergunova – Chairman of the Management Board, VTB Bank

Stephan Pouyat – Global Head of Capital Markets and Funds Services, Euroclear

Vadim Protasenko – CEO, Independent Registrar Company

Alexander Shevchuk – CEO, Association of Professional Investors

Oleg Tsvetkov – Head of the Corporate Secretary Service, Sberbank of Russia

18:30–20:00

Roundtable 2.4: Improving financial literacy: regional perspectives and role of private sector


Presidential Library, Roundtable hall 1 (first floor)


The need to improve the level of financial literacy is a pressing social issue affecting both the material wellbeing of the Russian population and the development of the financial market. In 2015 and 2016, the Russian Ministry of Education and Science and the Bank of Russia introduced financial literacy to the basic primary and secondary curricula. In early 2017, the two bodies signed a joint action plan stipulating the inclusion of financial literacy components at every level of the educational system, as well as the organization of events devoted to raising financial awareness among the general public.
The determination of a consistent approach and establishment of cooperation between federal and regional state authorities, the Bank of Russia, and social and commercial organizations are vital steps towards the successful realization of these goals. It is also essential to take into account international best practices, the specific nature of existing behavioural stereotypes, and the varying regional characteristics that have taken shape under recent conditions of economic development.
For discussion:
• Prospects for developing interagency cooperation at the regional level
• International best practices for interagency cooperation
• Examples of successful support for useful private and public initiatives
• The effectiveness of technologies based on studying patterns in financial behaviour
• Regional factors involved in implementing financial awareness programmes for different target audiences


Moderator:

Anatoly G. Gavrilenko – Chairman, Financial Literacy Council of the Bank of Russia


Speakers:

Andrey Borschevskiy – Deputy Head, Committee for Education, Government of Saint-Petersburg

Veronika Latysheva – 2017 Graduate

Mikhail Mamuta – Head, Service for Consumer Protection and Financial Inclusion, Bank of Russia

Veronika Minina – Deputy Governor, Government of the Novgorod Region

Sergey Solonin – CEO, FinTech Association

Sergey Storchak – Deputy Finance Minister of the Russian Federation

Danièle Vander Espt – Head of Financial Education Department, The Financial Services and Markets Authority, Belgium

18:30–20:00

Roundtable 2.5: The Mir payment system: current and future services and technology


The Manege Central Exhibition Hall, Roundtable hall 5 (first floor)


For discussion:
• Objectives for developing the National Card Payment System (NPCS) and promoting national payment tools in accordance with legislative changes
• Relevant services and technologies within the Mir payment system: perspectives from participants in the Mir ecosystem
• The Mir card as a key to public services
• Fintech and the NPCS platform


Moderator:

Sergey Radchenkov – Member of the Management Board, Chief Commercial Officer, National Payment Card System


Speakers:

Alla Bakina – Director, National Payment System Department, Bank of Russia

Mikhail Daykhin – Director of the Financial Technologies Development Division, Ulmart NPJSC

Boris Kim – Deputy CEO, Association for the Development of Financial Technologies

Vladimir Komlev – General Director, National Payment Card System

Alexey Polikashin – Deputy Chairman, Social Security Fund of the Russian Federation

Ivan Pyatkov – Vice President, Head of Retail Products, E-Business and CRM VTB Bank PJSC

18:30–20:00

Roundtable 2.6: The problems and opportunities of Russia’s pensions market


The Manege Central Exhibition Hall, Roundtable hall 7 (second floor)


This roundtable will be dedicated to discussing the concept of ‘individual pension capital’ (IPC).
For discussion:
• Incentives for participation in the new funded system: what kinds of benefits can individuals and employers expect?
• Launching IPC in parallel with the implementation of a new taxation system: why is this necessary?
• Technical implementation of the IPC system, the role of the central administrator
• Legal structure of the IPC: automatic subscription and citizens’ rights
• Participation of the Vnesheconombank State Trust Management Company in the new system
• IPC and non-state pension schemes, including voluntary non-state pension schemes


Moderator:

Yury Voronin – Chief of Staff, Accounts Chamber of the Russian Federation


Speakers:

Alexander Egorov – Head of the Social Security Section of the Department of International Labour Standards, International Labour Organization

Galina Morozova – CEO, Sberbank National Pension Fund

Andrei Pudov – State Secretary, Deputy Minister of Labour and Social Protection of the Russian Federation

Marina Rudneva – Board Member, CEO, Financial group FUTURE

Heinz Rudolph – Chief Economist, World Bank

Sergey Shvetsov – First Deputy Governor, Bank of Russia

18:30–20:00

Roundtable 2.7: Development of cross-border payments in national currencies


The Manege Central Exhibition Hall, Roundtable hall 3 (first floor)


The potential for the development of national currency transactions has been important throughout the CIS member states since the 1990s. In recent years, this subject has also been widely discussed in the context of growing trade and investment cooperation between Russia and non-CIS countries. Traditionally, the focus has been on the macroeconomic conditions and barriers that currently limit the proportion of payments made using national currencies, including existing national currency regulation legislation. The Bank of Russia also considers these issues in connection with the implementation of monetary policy and the impact on financial stability. The following issues are planned for the discussion:
What is the development potential for payments made between the Russian Federation and its main trade and economic partners using national currencies?
What are the main risks to the implementation of monetary policy and ensuring financial stability in Russia associated with the internationalization of the Russian rouble?
What are the limits to the internationalization of the Russian rouble now and in the long term (until 2035) in light of growing regionalization?
Which barriers most hinder current development of cross-border transactions in national currencies?
To what extent can Russia use other countries’ experience of the national currency internationalization process?


Moderator:

Yaroslav Lissovolik – Chief Economist, Member of the Management Board, Eurasian Development Bank (EDB)


Speakers:

Igor Marich – Member of the Management Board, Managing Director of Money and Derivatives Markets, Moscow Exchange

Oleg Smolyakov – Deputy Governor, National Bank of Kazakhstan

Igor Suvorov – President, Interstate Bank

Lan Weijie – Deputy Chairman of the Board, Bank ICBC (JSC)

20:30–22:30

Bank of Russia reception (by invitation only)


Presidential Library, Plenary session hall (second floor)


Friday, July 14, 2017
10:00–11:30

Panel session II: Major trends in the development of Russia’s financial markets: half-way there


Presidential Library, Plenary session hall (second floor)


Guidelines for the Development of the Russian Financial Market in 2016–2018 is a widely discussed document published by the Bank of Russia on the development of the financial market. The text is cross-sectoral in nature and contains an explanation of actions the Bank plans to take in order to develop all sectors of the financial market in the medium term.
In addition, the Bank of Russia has, jointly with the Government of the Russian Federation, developed a three-year interagency action plan, which includes specified tasks and actions to develop the Russian financial market.
The results of implementing the action plan for the main areas of financial market development and the specifics of developing individual Russian financial market sectors in 2016 are:
• The banking sector
• Payment systems and payment infrastructure
• The securities market
• The insurance sector
• The collective investments and trust management sector
• The microfinance sector
Key activities planned for implementation in 2017.


Moderator:

Oleg Vyugin – Member of the Board of Directors, Independent Director, Rosneft; Professor, National Research University Higher School of Economics


Speakers:

Rolf Behrndt – Practice Manager for the joint IFC-IBRD Global Practice Finance & Markets

Evgeny Dankevich – Chairman of the Management Board, Bank Otkritie Financial Corporation PJSC

Sergey Shvetsov – First Deputy Governor, Bank of Russia

Timothy Talkington – Member of the Board of Directors, Goldman Sachs Bank LLC

Alina Vetrova – Member of Management Board, First Vice President, Association of Regional Banks of Russia (Association “Russia”)

Mikhail Zadornov – Chairman and CEO, VTB 24 (PJSC)

11:30–12:00

Coffee break


12:00–13:30

Panel session III: Information security: current challenges and practices


Presidential Library, Plenary session hall (second floor)


Information security – is it important for business, the economy, and the state?
Cybercrime: what are we up against?
Key components of information security: is it all about equipment?
It is all about the people: what should be required of staff?


Moderator:

Natalya Kaspersky – President, InfoWatch Group of Companies; Co-founder, Kaspersky Lab


Speakers:

Abdul Wahab Amirudin – Chief Executive Officer, CyberSecurity Malaysia

Olga Dergunova – Chairman of the Management Board, VTB Bank

Vladimir Komlev – General Director, National Payment Card System

Stanislav Kuznetsov – Deputy Chairman of the Executive Board, Sberbank

Artem Sychev – Deputy Head, General Directorate for Security and Information Protection, Bank of Russia

12:00–13:30

Panel session IV: Global economic challenges for central banks


The Manege Central Exhibition Hall, Roundtable hall 6 (second floor)


The problem of permeability of the economy that might destabilize national financial systems is particularly critical for emerging markets nowadays. As the global recession has demonstrated, maintaining low inflation should go hand in hand with financial stability. The experiences of emerging economies in implementing low inflation and financial stability policies are all unique, nonetheless, they exhibit patterns which warrant interpretation. The deepening of financial integration – the path chosen by advanced economies – increases the level of mutual influence among the financial systems of all countries. How exactly will this trend impact financial stability and sustainable growth in countries with emerging economies?


Moderator:

Ksenia Yudaeva – First Deputy Governor, Bank of Russia


Speakers:

Olli Rehn – Member of the Board, Bank of Finland

Antonio Spilimbergo – Assistant to the Director, International Monetary Fund

Peter Stella – President, Stellar Consulting LLC

Vladimír Tomšík – Vice-Governor, Czech National Bank

Marc Uzan – Executive Director, Reinventing Bretton Woods Committee

Boris Vujčić – Governor, Croatian National Bank

12:00–13:30

Roundtable 3.1: OSAGO 2017: what lies ahead for compulsory vehicle insurance?


The Manege Central Exhibition Hall, Roundtable hall 7 (second floor)


For discussion:
• Analysis of the current state of the segment, evaluation of the impact of newly introduced legislative changes, including those aimed at combatting car insurance fraud and guaranteeing accessibility:
• E-policies
• Repairs (the priority of natural reimbursement)
• The Single Agent system
• Improving the tariff system
• Improving the EUROPROTOCOL system
• The ombudsman as an effective tool for protecting the rights of third-party liability insurance (OSAGO) consumers
• Developing a dialogue with judicial authorities
• Determining new horizons for development, prospective challenges, and possible paths to overcome them


Moderator:

Petr Shkumatov – Coordinator, Blue Buckets Society


Speakers:

Vera Balakireva – Deputy Head, Financial Policy Department, Ministry of Finance of the Russian Federation

Irina Bukina – Judge of the Supreme Court of the Russian Federation

Igor Cherkashin – First Deputy General Director, RESO-Guaranty IJSC

Ilya Kochetkov – Director, Microfinance Market Department, Bank of Russia

Zhanat Kurmanov – Head, Insurance Supervision Department, National Bank of the Republic of Kazakhstan

Igor Zhuk – Director, Insurance Market Department, Bank of Russia

12:00–13:30

Roundtable 3.2: The role of self-regulation in the financial market


The Manege Central Exhibition Hall, Roundtable hall 5 (first floor)


This roundtable will explore approaches to implementing financial monitoring and oversight of the activities of market participants from the perspectives of both the regulator and the market, with the goal of creating a comprehensive regulatory system that meets the needs of professionals working in various segments of the financial market. It will also focus on standardizing the activity of self-regulatory organizations and of their members in the financial market in an attempt to generate a set of transparent rules governing market behaviour that financial organizations and their customers can easily understand.
Self-regulatory organizations in the financial market – tools for regulation and oversight, the role of the regulator and self-regulatory organizations: international experience and Russian practice, including in the context of Federal Law No. 223-FZ dated July 13, 2015, ‘On Financial Self-Regulatory Organizations’, which amends articles 2 and 6 of the Federal Law ‘On Amending Individual Laws of the Russian Federation’.


Moderator:

Alexei Timofeev – President, NAUFOR


Speakers:

Ivan Kozlov – Deputy Head, Chief Inspection, Bank of Russia

Alexei Okhlopkov – President, Khanty-Mansiysk Private Pension Fund

Larisa Selyutina – Director, Securities Market and Commodity Market Department, Bank of Russia

Alexander Solomkin – Director, Self-regulatory organization of credit consumer cooperatives “Cooperative Finances”

Igor Yurgens – President, All-Russian Insurance Association

Vasily Zablotsky – President, National Financial Association

12:00–13:30

Roundtable 3.3: Financial inclusion strategy: reaching a new level


Presidential Library, Roundtable hall 2 (first floor)


Financial inclusion is currently a high-priority topic, not just for national regulators, but also for the majority of ISSBs. In light of this, the Bank of Russia is moving towards systemic measures; more specifically, it is developing a strategy to enhance financial inclusion in the medium term (2017–2019).
The following priority and long-term development focus areas have been set out in the strategy:
• Development of financing for small and medium-sized enterprises
• Improvement of protection mechanisms for financial services consumers and development of financial literacy among the population and SMEs
• Development of digital financial services channels
• Expansion of access to financial services in remote and rural regions
• Improvement of financial inclusion for sections of the population and SMEs that have limited access to financial services
The discussion will be dedicated to the strategy’s main priorities, as well as to an analysis of the goals to be reached via these priorities, which include:
• Improvement of infrastructure through the development of mutually profitable collaboration between banks and other non-bank financial institutions
• Development of programmes to provide financing (including in alternative forms) to SMEs, including the creation of a system of incentives for those who offer credit/loans to said enterprises
• Refinement of the existing set of digital financial services to incorporate those business models and products that would meet the needs of financial services consumers who fall into categories of citizens not included in the financial system
• The Bank of Russia’s understanding of the ‘target audiences’ of various financial services
Improvement by the Bank of Russia of the financial services consumer protection system


Moderator:

Sergey Shvetsov – First Deputy Governor, Bank of Russia


Keynote speaker:

Alfred Hannig – Executive Director, Alliance for Financial Inclusion


Speakers:

Nikita Danilov – Chief for Relations with Executive Bodies, MegaFon

Andrey Kholodnyy – Deputy General Director, National Satellite Company NJSC (Tricolor TV)

Denis Lopatin – Head of Business Development Directorate, Post Bank PJSC

John Owens – Research Fellow, Accion International

Olga Tomilova – Legal Consultant, Consultative Group to Assist the Poor (CGAP), World Bank

12:00–13:30

Roundtable 3.4: Professional judgement: process justification, procedure, and transparency


The Manege Central Exhibition Hall, Roundtable hall 4 (first floor)


For discussion:
• Area of application for professional judgement during decisionmaking
• Professional judgement from the perspectives of both the regulator and participants in the financial market
• Procedures for incorporating and approving professional judgement


Moderator:

Garegin Tosunyan – President, Association of Russian Banks


Speakers:

Vladimir Chistyukhin – Deputy Governor, Bank of Russia

Joanna Gray – Professor of Financial Law and Regulation, Birmingham Law School

Galina Morozova – CEO, Sberbank National Pension Fund

Anna Orlenko – Director, Banking Supervision Department, Bank of Russia

Alexei Savatyugin – President, National Partnership of Microfinance Market Stakeholders

Aleksandr Vedyakhin – Senior Vice President, Chief Risk Officer, Sberbank

Andrey Zvyozdochkin – CEO, Aton LLC

12:00–15:30

Roundtable 3.5: 2017 Innotribe Startup Challenge Russia


Presidential Library, Roundtable hall 1 (first floor)


Presentation of the first SWIFT Innotribe Startup Challenge Russia (Innotribe is one of the most famous international fintech startup competitions, held by the SWIFT cooperative).
Pitch sessions by fintech starts and the contest finalists: BankEx, Cashoff, Emotions Tech, Evotor, Locus-soft, Moneycare, Oz Forensics, Scorista, TalkBank, and VentureClub.
Summarization of the contest outcomes and awarding of the winners.
Open debate ‘How can we ensure cooperation between the financial industry and fintech startups?’


Moderator:

Kevin Johnson – Director, Innotribe Programme, SWIFT


Speakers:

Roman Chernov – CEO, Russian National SWIFT Association

Matthieu de Heering – Head of Russia, CIS & Mongolia, SWIFT

Maxim Grigoriev – Head, Centre for Financial Technologies, Department of Financial Technologies, Projects, and Process Organization, Bank of Russia

Tanguy Rademakers – Key participant of Innotribe Team, SWIFT

13:30–15:00

Lunch


Restaurants for the Congress participants (4, Konnogvardeysky Bulvar)


15:00–16:30

Roundtable 4.1: 4% inflation: what now? International experience in sustaining inflation close to targets


The Manege Central Exhibition Hall, Roundtable hall 4 (first floor)


Achievement of the 4% inflation target in 2017 brings to the fore issues related to sustaining levels close to this target in future, the need to anchor inflation expectations to the target level, and the measures the Bank of Russia should be taking in view of the economy’s reaction to low inflation and interest rates. In this connection, international experience of implementing inflation targeting policies are vital:
• To what extent is a deviation from the target in 2018–2020 permissible and what affects the scale of this permitted deviation?
• How do we accelerate the process of lowering inflation expectations when inflation is at the target level?
• What is the role of structural features of the economy, including those of the Russian economy, in the policy implemented by the Bank of Russia to sustain the target inflation level?
• How should a central bank react to temporary and permanent price shocks, including those related to budgetary and structural policy, under inflation targeting?
• Is the Russian inflation target appropriate to ensuring long-term price stability?


Moderator:

Igor Dmitriev – Director, Monetary Policy Department, Bank of Russia


Speakers:

Oscar Arce – General Director for Economics and Research; DG Economics and Statistics, Banco de España

Gabriel Di Bella – Resident Representative of IMF Office in the Russian Federation

Hakan Kara – Chief Economist, Central Bank of Turkey

Nikolay Korzhenevsky – Anchor, Russia 24 TV Channel

Sergey Slobodyan – Director of Economics Department of Branch in Saint-Petersburg, National Research University Higher School of Economics

15:00–16:30

Roundtable 4.2: Banking: the search for drivers of growth (strategy, products, technology)


The Manege Central Exhibition Hall, Roundtable hall 6 (second floor)


Low economic growth rates and rising competition from non-bank financial intermediaries and fintech companies are limiting growth opportunities in the banking sector. Is it possible to successfully engage in banking under these conditions?


Moderator:

Sergey Monin – Chairman of the Managing Board, Raiffeisenbank


Speakers:

Evgeny Dankevich – Chairman of the Management Board, Bank Otkritie Financial Corporation PJSC

Alexey Marey – Chief Executive Officer, Alfa-Bank JSC

Alexander Morozov – Vice President – Director of the Finance Department, Sberbank

Ekaterina Trofimova – Chief Executive Officer, Analytical Credit Rating Agency (ACRA)

Igor Yasenovets – Principal in the Moscow office of McKinsey & Company

15:00–16:30

Roundtable 4.3: Professional participants: the transformation of professional activity in the securities market


The Manege Central Exhibition Hall, Roundtable hall 3 (first floor)


For discussion:
• Competition as the driving force in the transformation of professional activity and cost reduction (from the point of view of intermediary activity and accounting infrastructure)
• Types of business transformation: interpenetration and expansion of the perimeter of professional activity
• The influence of regulation in transforming professional activity


Moderator:

Alexander Afanasiev – Chairman of the Executive Board, Moscow Exchange


Speakers:

Mikhail Bratanov – Director of Securities Services, ROSBANK PJSC

Vladimir Kozinets – Director of the Treasury and Risk Management Department at ROLF Group of Companies and President of the Association of Corporate Treasurers

Yuri Mintsev – General Director, Otkritie Broker JSC

Olga Shishlyannikova – Deputy Director, Securities Market and Commodity Market Department, Bank of Russia

Alexei Timofeev – President, NAUFOR

Alex Todd – EMEA Head: DCC & Intermediaries Client Coverage

15:00–16:30

Roundtable 4.4: Bondization: a priority of the Guidelines for the Development of the Russian Financial Market


Presidential Library, Roundtable hall 2 (first floor)


Topics for discussion:
• During the round table on bondization we'll try to understand whether there's room for small and medium companies at this market, or bonds are a private club for the elites?
• Can bonds compete with deposits for private investors' money? Or is this battle already lost to binaries?
• ICMA global expert David Hiscock will explain how far behind Russia is if compared to Europe and whether we're facing similar challenges at the bond market.
• Can we call socially significant project bonds the hot ticket? Or is it a new trend? How does one paint a bond green? And who needs it?
• Interactive real time polls and statistics provided by the Bank of Russia will fill up the canvas. Will the opinion of the audience concur with that of Siberian and Ural companies?


Moderator:

Sergey Lyalin – CEO, Cbonds Group


Speakers:

Mikhail Avtukhov – Deputy Chairman of the Management Board and Head of the Corporate Investment Unit, Sovcombank

Elena Chaikovskaya – Director, Financial Market Development Department, Bank of Russia

David Hiscock – Senior Director, Deputy Head of Market Practice and Regulatory Policy, International Capital Market Association (ICMA)

Elena Ivanova – Director, Corporate Finance Department, RUSAL

Aleksey Kupriyanov – Head of Debt Capital Markets Department of BCS Global Markets Division, BrokerCreditService Ltd

Anna Kuznetsova – Managing Director, Moscow Exchange

Denis Zibarev – Co-founder and a member of the Board of Directors, IC Septem Capital

15:00–16:30

Roundtable 4.5: The future of microfinance: challenges and opportunities


The Manege Central Exhibition Hall, Roundtable hall 5 (first floor)


During this roundtable, participants will discuss prospects for the development of the microfinance market, possibilities for its further expansion, and factors that will allow for its growth in the future.
Particular attention will be given to the topic of lending to small and medium-sized enterprises.
The issues of funding for participants in the microfinance market (access to bank loans, lowering of lending rates) and financing for ‘state microfinance organizations’ will also be discussed, and there will be a review of global best practice.
The factors slowing banks’ lending to participants in the microfinance market will be analysed, including legislative issues and problems associated with credit risk levels, which depend on the quality of loan portfolios.
The prospects for collaboration between banks and participants in the microfinance market will be set out, and proposals will be formulated for actions to be taken by regulators, market participants, self-regulating organizations, and the banking community to further the development of said collaboration.


Moderator:

Alexei Savatyugin – President, National Partnership of Microfinance Market Stakeholders


Speakers:

Nurlan Abdrakhmanov – Head, Financial Market Methodology Department, National Bank of the Republic of Kazakhstan

Ilya Kochetkov – Director, Microfinance Market Department, Bank of Russia

Maxim Lubomudrov – Deputy General Director, RSMB Corporation JSC

Georgy Shabad – Advisor, Bank Otkritie Financial Corporation PJSC

Elena Stratyeva – Vice President, National Partnership of Microfinance Market Stakeholders (NAUMIR)

15:00–16:30

Roundtable 4.6: Corporate information management


The Manege Central Exhibition Hall, Roundtable hall 7 (second floor)


Information management as value management is becoming more and more relevant given the increasing scale of activity performed by financial organizations. Despite the exponential growth in the volume of data being collected and stored, it is increasingly difficult to use traditional descriptive analytics and reporting to find the required information and extract details which are useful in making precise and timely management decisions. Meanwhile, the digitalization of society and the development of information technology are opening up opportunities to make use of new sources of information (big data) and enabling the effective and timely analysis of these sources. Under these conditions, financial organizations are increasingly coming to understand the necessity of using more mature solutions when working with data, first and foremost as pertains to the implementation of centralized data management systems. This implies the formation of a single, integrated approach to data as the foundation of decisionmaking, as well as the development of organization-wide standards and policies for working with data and standards for guaranteeing quality, a task which categorically requires the engagement of all structural units within an organization.
For discussion:
• Changing organizational culture – data as one of an organization’s main assets
• Building a single data model for regulators and supervised organizations
• Prospective areas for development: a shift towards microdata, predictive analytics, and real-time analytics
• An overview of data quality: principles and approaches to guaranteeing information quality in the era of big data


Moderator:

Ksenia Yudaeva – First Deputy Governor, Bank of Russia


Speakers:

Irina Elistratova – Head, Business Intelligence Centre, Alfa Bank

Olga Goncharova – Director, Statements Collection and Processing Department, Bank of Russia

Alexey Ilyin – CEO, Adastra Business Consulting

Larisa Malkova – Director for Analytics and Data Management, Accenture

Andrei Petrushin – Deputy Head, Russian Federal Tax Service

Ekaterina Prokunina – Director, Statistics Department, Bank of Russia