The Asset Managers Forum's
Operational Risk Management Workshop
Tuesday, February 8, 2005
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Global Financial Markets Conference Ctr.
360 Madison Avenue, 17th Floor
New York City
9:30 a.m. - 4:30 p.m. EST
New York PROGRAM |
Four Seasons Hotel Newport Beach
690 Newport Center Drive
Newport Beach, CA
7:30 a.m. - 2:45 p.m. Pacific Time
California PROGRAM |
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This bicoastal event is being sponsored bY
Attention operations, compliance, buyside, sellside and all investment management professionals. You may attend this event in Newport Beach or New York. The workshop presentations are being simulcasted via videoconference to both locations; as some panelists are based in New York and some in Newport Beach.
The Asset Managers Forum is hosting a full-day workshop on Operational Risk Management. This workshop is an opportunity for industry professionals to participate in discussions relating to the operational risks associated with running an asset management business. Many issues in this area are also relevant to sellside professionals. Presentations and panels will address the many controls that are needed to manage operational risk in the different functions within asset management firms; share in a dialogue on "best business practices" relating to managing hedge fund administrators and discuss how Sarbanes-Oxley could affect member firms.
This innovative workshop will help you to find answers to the following questions:
- Define Operational Risk - What is the criteria for defining operational risk? What are the components of operational risk? Learn from the way others approach operations risk management.
- Risk Management Requirements - What are the Business Requirements and controls to manage operational risk? What is the impact of Sarbanes-Oxley? Discussions regarding controls over wires and non-standard transactions, electronic trading controls, other internal controls and Sarbanes-Oxley 404 will shed light to these questions.
- Data Collection & Analysis - How do you measure operational risk? How do you involve internal and external groups? How do you manage vendors? Panels on vendor management and hedge fund administrator oversight will help you to address these questions.
- Enhancing Your Operational Risk Management - How do you develop a firm-wide view of operational risk management? What internal controls does your firm need? The full day workshop is designed to answer these questions and to help you to better manage your firm's operational risk.
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PROGRAM: NEW YORK (EST)
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9:00 -
9:30 a.m.
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Registration & Continental Breakfast
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9:30 -
10:15 a.m.
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Opening Presentation in New York
New Developments with regard to STP and Securities Processing of all Fixed Income Products
Speakers: Thomas Garley, TradeWeb
Jason Jesner, Credit Suisse Asset Management
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10:15 -
10:30 a.m.
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Break
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10:30 -
11:15 a.m.
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DTCC's Approach to Operational Risk Management
This presentation will provide an overview of DTCC's formal Operational Risk Assessment program that was initiated in 2003, and offers all operating units a hands-on process for pinpointing risks across five major categories and taking active steps to mitigate them. The presentation will describe a framework for assessing risks and some lessons learned from recent case studies.
Moderator: Janet Wynn, DTCC
Panelists: Eileen Robbins, DTCC
Janis Meola, DTCC
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11:15 a.m. -
12:15 p.m.
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Corporate Actions: Controlling the Risks Related to Information/Works Flow
Are Corporate Actions synonymous with risk? Come hear industry constituents share their views regarding recent developments relating to Corporate Actions and to analyze the risks that are inherent with Corporate Actions. The panel will also discuss how the marketplace is currently addressing those risks.
Moderator: Lisa Ilaria, Prudential Investment Corporation
Panelist: Brian Conway, Prudential Investment Management
John Kehoe, Xcitek, Inc.
Lorraine Morrison, DTCC
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12:15 -
12:30 p.m.
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Lunch - New York
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12:30 -
1:15 p.m.
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NY Lunchtime Keynote Speaker: Practical insights relating to straight through processing
Speaker: Jonathan Ambos, Citigroup Asset Management
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1:15 -
2:30 p.m.
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Panel Presentation: Vendor Management
This panel will discuss issues in connection with managing outsourced services, custodian bank services, investment technology, research and consulting services, as well as how the asset manager's operational risk assessment program should address the risks inherent in these functions and the services purchased from vendors.
Moderator: David Skrodanes, General Motors Asset Management
Panelists: Steve Basker, Investors Bank & Trust
Mark Bobseine, Cutter Associates
Matt Daly, State Street Corporation
Alicia Rose, Deloitte & Touche LLP
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2:30 -
2:45 p.m.
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Break - New York
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2:45 -
3:30 p.m.
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Best Practices for Hedge Fund Administrator Oversight
What are the top operational challenges for hedge fund administrators right now, and what are they doing to address those challenges? This panel will discuss issues ranging from the hedge fund valuation process to administrators' “must-have” systems capabilities and regulations affecting the industry.
Moderator: Chris Coleman, Investors Bank & Trust
Panelists: Paul Fehre, New York Life Investment Management
Chris Farias, Investors Bank & Trust
Steve Haley, Citigroup Alternative Investments
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3:30 -
4:30 p.m.
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Controls: How Do We Know They Are Working As Intended?
- Sarbanes-Oxley 404
Successful operations professionals have always been focused on implementing controlled streamlined processes. With the advent of Sarbanes Oxley 404, managers are now required to attest to the effectiveness of their firm's controls. So how do managers get comfortable that the controls they have designed and implemented are comprehensive and functioning properly? This diverse panel will discuss this matter from a variety of perspectives; that of an asset manager, custodian, accounting service provider and auditor.
Moderator: Julie Warren, New York Life Investment Management
Panelists: Joan Cheney, Fisher Francis Trees & Watts
Shannon Goode, SS&C
Ekko Jennings, Morgan Stanley Asset Management
Bruce Marcus, Deloitte & Touche LLP
Chris Porzelt, The Bank of New York
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4:30 -
5:30 p.m.
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Controls Over Wires: Non-DVP Settlements and Other Non-Standard Transactions
This panel will discuss the main purposes for non-DVP wire usage, i.e. private placements, collateral management, round robins, agency remics. Topics include analyzing what controls are related to the non-DVP wire process, what are the risks and challenges and what future industry trends are addressing those risks and the lack of automation in this space.
Moderator: Larry Barnett, Appix
Panelists: Ila Eckhoff, BlackRock Financial Management Inc.
Len Monteleone, Chapdelaine Corporate Securities
Christine Sumner, Pacific Life Insurance Company
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5:30 p.m.
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Closing Remarks - New York
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PROGRAM: CALIFORNIA (Pacific Time)
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7:00 -
7:30 a.m.
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Registration & Continental Breakfast
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7:30 -
8:15 a.m.
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Opening Presentation: DTCC's Approach to Operations Risk Management
This presentation will provide an overview of DTCC's formal Operational Risk Assessment program that was initiated in 2003, and offers all operating units a hands-on process for pinpointing risks across five major categories and taking active steps to mitigate them. The presentation will describe a framework for assessing risks and some lessons learned from recent case studies.
Moderator: Janet Wynn, DTCC
Panelists: Eileen Robbins, DTCC
Janis Meola, DTCC
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8:15 -
9:15 a.m.
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Corporate Actions: Controlling the Risks Related to Information/Works Flow
Are Corporate Actions synonymous with risk? Come hear industry constituents share their views regarding recent developments relating to Corporate Actions and to analyze the risks that are inherent with Corporate Actions. The panel will also discuss how the marketplace is currently addressing those risks.
Moderator: Lisa Ilaria, Prudential Investment Corporation
Panelist: Brian Conway, Prudential Investment Management
John Kehoe, Xcitek, Inc.
Lorraine Morrison, DTCC
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9:15 -
9:30 a.m.
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Break - California
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9:30 -
10:15 a.m.
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Keynote Speaker: Practical insights relating to straight through processing
Speaker: Jonathan Ambos, Citigroup Asset Management
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10:15 -
11:30 a.m.
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Panel Presentation: Vendor Management
This panel will discuss issues in connection with managing outsourced services, custodian bank services, investment technology, research and consulting services, as well as how the asset manager's operational risk assessment program should address the risks inherent in these functions and the services purchased from vendors.
Moderator: David Skrodanes, General Motors Asset Management
Panelists: Steve Basker, Investors Bank & Trust
Mark Bobseine, Cutter Associates
Matt Daly, State Street Corporation
Alicia Rose, Deloitte & Touche LLP
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11:45 -
11:30 a.m.
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Lunch - California
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11:45 a.m. -
12:30 p.m.
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Best Practices for Hedge Fund Administrator Oversight
What are the top operational challenges for hedge fund administrators right now, and what are they doing to address those challenges? This panel will discuss issues ranging from the hedge fund valuation process to administrators' “must-have” systems capabilities and regulations affecting the industry.
Moderator: Chris Coleman, Investors Bank & Trust
Panelists: Paul Fehre, New York Life Investment Management
Chris Farias, Investors Bank & Trust
Steve Haley, Citigroup Alternative Investments
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12:30 -
1:30 p.m.
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Controls: How Do We Know They Are Working As Intended?
- Sarbanes-Oxley 404
Successful operations professionals have always been focused on implementing controlled streamlined processes. With the advent of Sarbanes Oxley 404, managers are now required to attest to the effectiveness of their firm's controls. So how do managers get comfortable that the controls they have designed and implemented are comprehensive and functioning properly? This diverse panel will discuss this matter from a variety of perspectives; that of an asset manager, custodian, accounting service provider and auditor.
Moderator: Julie Warren, New York Life Investment Management
Panelists: Joan Cheney, Fisher Francis Trees & Watts
Shannon Goode, SS&C
Ekko Jennings, Morgan Stanley Asset Management
Bruce Marcus, Deloitte & Touche LLP
Chris Porzelt, The Bank of New York
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1:30 -
2:30 p.m.
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Controls Over Wires: Non-DVP Settlements and Other Non-Standard Transactions
This panel will discuss the main purposes for non-DVP wire usage, i.e. private placements, collateral management, round robins, agency remics. Topics include analyzing what controls are related to the non-DVP wire process, what are the risks and challenges and what future industry trends are addressing those risks and the lack of automation in this space.
Moderator: Larry Barnett, Appix
Panelists: Ila Eckhoff, BlackRock
Len Monteleone, Chapdelaine Corporate Securities
Christine Sumner, Pacific Life Insurance Company
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2:30 p.m.
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Closing Remarks - California
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Registration Information
Registration Fees:
$395 Members of AMF and TBMA
$495 Non-member
Refund Policy: The Association will issue refunds, each subject to a $75 service charge, on cancellations received in writing on or before Tuesday, February 1, 2005. No refunds will be issued on cancellations after this date. Substitutes are welcome at any time.
If you have any questions, please call Susan Weiss at 646.637.9293.
Location Information
New York: The New York meetings will take place at the Global Financial Markets Conference Center located at 360 Madison Avenue (at 45th Street) on the 17th Floor, New York City, 10017.
California: The West Coast Meetings will be held at the Four Seasons Hotel Newport Beach, 690 Newport Center Drive, Newport Beach, CA 92660. There are a block of rooms reserved at the Marriott Newport Beach, 900 Newport Center Drive, Newport Beach, CA 92660. For overnight hotel reservations the number is 800-228-9290 or 949-640-4000 and reference The Bond Market Association. Single and double room rates are $119 per night (excluding taxes and gratuities). To take advantage of these rates, reservations must be confirmed by January 17, 2005. The Marriott provides free shuttle service to and from John Wayne Airport.
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