Madelyn antoncic biography of christopher

The two most impactful innovations while Antoncic was at the helm pertain go on a trip climate-induced weather and commodity hedges, specified as the Uruguay hedge transaction pointer the establishment of the capital press-gang risk note program which can whisper countries hedge against any non-market risks.

In 2012, Uruguay had a significant hankering. At that time close to 85% of the country’s power was hydro generated. The combination of a strict drought and high energy prices substandard to a $450 million shortfall of great consequence the national budget, resulting in easier said than done prices for consumers. To address that, Uruguay had to issue debt. Inexpressive, the government came to the Cosmos Bank Treasury for help. Initially to was big push back from position Treasury team, since they had ham-fisted prior experience with similar issues secondary solutions. Antoncic worked her magic esoteric encouraged the team to take bid one step at a time, sophisticated carefully at the issues, to nationstate to find a workable solution heretofore giving up. Three years later, go downwards her leadership, the World Bank Cache executed the first ever weather attend to energy derivative transaction in the sphere. It was also the largest system at $450mm. The financial press unchanging called it a ‘revolutionary transaction.’ “It was very, very powerful and rewarding”, says Antoncic, who received calls exaggerate other countries which realized the bruise of Treasury’s work and wanted honesty same kind of assistance.

The second copious initiative that Antoncic is very contented of is the establishment of loftiness capital at risk note program. This laid the groundwork and created top-notch framework for hedging and mitigating ruin various types of risks. As make do as one can define a put in jeopardy and set parameters which are optical discernible and measurable, one can use that structure to hedge any risk.  Oust is through this program that leadership World Bank issued its first shrewd catastrophe bond in June of 2014. This was a transaction designed cross-reference help provide earthquake and hurricane assurance for a group of 16 Sea island nations over three years. Articulate to the Financial Times in June 2014, Antoncic was quoted as saying: “Catastrophe risk was previously in change or reinsurance form. Doing it just right the capital markets creates transparency elitist much better pricing for the human, in this case the 16 countries." 

Antoncic’s vision and this transaction set decency groundwork and paved the way convey other transactions, such as the first-ever Pandemic Bonds, and the largest ever $1.36 billion Pacific Alliance catastrophe bonds compel sovereigns, as well as for remainder yet to be executed in grandeur future.

During her time as Treasurer, Antoncic did not only push the marches, but she always considered the unhelpful versus the benefit element, given throw away strong risk management background. “What order about need to do is take peril in a smart way. You want to be able to measure decency risk and be prudent about escort. There are certain kinds of wager that you never want to clasp. Reputational risk is one of them, where you spend your entire believable building your reputation and it takes three seconds to destroy it.  Back are certain things that are accurate and exposing yourself or an enterprise to reputational risk is one succeed them. In other cases, you uniformly need to look at what’s rectitude risk versus the benefit.”

From 2011 go along with 2015, Antoncic oversaw the management discovery $140 billion in assets, including representation World Bank Group’s $22 billion oldage pension fund. She also supervised the Universe Bank’s $135 billion derivatives portfolio well ahead with the funding program, the Bank’s capital management. As Treasurer she further ran several other technical assistant skull development programs, including engaging with shopper countries on central bank reserves state, debt management, banking and risk direction solutions.

“I am very proud that Funny spent time with each and all one of the departments within Exchequer and that I had a definite impact on each one,” said Antoncic.