The CFA Institute’s Systemic Risk Council announced it has added three members—Elke König of Germany, René Karsenti of France and Christina Romer from the U.S.—bringing its total number to 19.
The Systemic Risk Council consists of experts committed to addressing regulatory issues in global systemic risk and engages with policymakers around the world—primarily in Europe and the U.S.—to ensure and preserve a stable financial system. The council advocates for policy and regulatory reform to protect the public from financial instability.
For example, in August, the Systemic Risk Council wrote to U.S. Secretary of the Treasury Janet Yellen to express concern that non-bank financial institutions and their activities could enable financial vulnerability and endanger global stability.
“We are thrilled to add these three very talented and experienced people to the Systemic Risk Council, broadening our European representation and adding further international perspective to our council discussions,” Erkki Liikanen, co-chair of the Systemic Risk Council, said in a statement.
König is a German auditor who was president of the Federal Financial Supervisory Authority from 2012 to 2015. From 2015 to 2022, she was the first chair of the Single Resolution Board of the Single Resolution Mechanism, an EU banking agency. Having earned a doctorate in political science, she worked in the financial and insurance sectors at firms like KMPG; Munich Re Group, where she was the head of accounting; and Hannover Ruckversicherung AG, where she was chief financial officer. König was also a member of the International Accounting Standards Board in London.
Karsenti is a senior adviser to the International Capital Market Association, a global trade organization for financial institutions. Prior to joining the ICMA in 2006, Karsenti was a director general of finance at the European Investment Bank in Luxembourg. Karsenti also served as treasurer of the European Bank for Reconstruction and Development in London between 1991 and 1995. Karsenti also held various roles in treasury organizations within the World Bank Group.
Romer is an economic history and macroeconomics professor at the University of California, Berkeley, and a research associate at the National Bureau of Economic Research. Romer served as chair of the U.S. Council of Economic Advisers from 2009 to 2010.
Tags: CFA Institute, CFA Institute Systemic Risk Council, Christina Romer, Elke Konig, Rene Karsenti