by Michael Scholl
DTCC has appointed Reena Walia managing director of Equities Risk Management in its Enterprise Risk Management (ERM) Group.
In her new position, Walia will lead a team charged with assessing risk management across DTCC's National Securities Clearing Corporation (NSCC), Depository Trust Company (DTC) and EuroCCP subsidiaries and will provide oversight of current and potential risks that impact the company. She will be responsible for designing and managing the extensive technology initiatives that support risk management in those areas.
Walia will also be responsible for ensuring all of ERM's equities-related policies and processes are aligned with the organization's overall mission of mitigating risk and providing certainty, stability and reliability for the global financial markets. In addition, Walia will be charged with designing and implementing new risk systems and developing and implementing best practices in risk management. She will report to Douglas George, DTCC managing director and chief risk officer.
Robust risk management
"The financial crisis has underscored the critical importance of having the best talent and robust risk management practices in place to protect the industry," George said. "Risk management is a core function of DTCC and Reena's proven track record in leading these types of initiatives for a variety of financial products, services and markets will help DTCC as we transform how we manage risk in the organization.
We are delighted to have someone of Reena's talent and experience join DTCC to provide her leadership and extensive knowledge on this key issue."
Walia is joining DTCC from Citigroup, where she was Head of Americas Investment Products Risk, responsible for managing risk for over US$125 billion in assets under management. Prior to that, Walia held several positions with increasing responsibility at Credit Suisse, serving most recently as Global Head of Structured Products for Credit Risk, where she was responsible for a global risk book of over US$30 billion of complex products. Walia began her career at Dresdner Kleinwort Benson in Australia as a credit manager specializing in commodities, project financing and infrastructure financing.
Walia has deep expertise in risk management, having successfully navigated some of the financial industry's most complex and innovative transactions. Her risk management leadership extends to the development of risk policies and procedures; development of rating and stress-testing methodologies; and strong decisionmaking skills. Her risk career spans both the buyside and sellside, with extensive experience in major asset classes globally.
Walia holds bachelor degrees in economics and commerce from the Australian National University. She also has received a post-graduate qualification in applied finance and investments from the Securities Institute of Australia. @