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18Sept
September 18, 2017 - September 19, 2017 Bayview Eden, 6 Queens Road, Melbourne, VIC 3004 Australia

Superannuation Fund Risk 2017 Forum that covers risks from operational, financial and investment.

18th September 2017 - Day 1

08:20 – Registration

Participants registration and refreshments.

08:55 – Welcome address

Chairman’s address to the gathering.

09:00 – Session 1: Superannuation Fund Risks – The regulator’s views

  • What does the regulator see as the key operational and investment risks for a superannuation fund
  • Is there room for improvement in managing these risks?
  • Examples of risks identified in the regulator’s periodic fund reviews
  • The regulator’s views on potential future risks to emerge

Speaker:

  • Craig Roodt, Head of Investment Risk, APRA (Invited)

09:40 – Session 2: Risk Culture – Good governance from the top

  • The risk governance model
  • Initiating the organisation’s risk culture
  • How to “set the example” from Board level down
  • Promoting risk awareness – are we doing enough?
  • Setting and measuring KPIs for risk management
  • The trade-off between strong governance and nimbleness and flexibility

Speaker:

  • Elizabeth Sheedy, Associate Professor, Macquarie Applied Finance Centre

10:20 – Tea break

Refreshments and Networking opportunity for participants.

10:50 – Session 3: Enterprise Risk Management – How to get buy in from staff at all levels

  • Is an organisation wide risk register effective?
  • Are tailored risk registers targeted for high risk functions a better approach?
  • Does a targeted risk register develop greater ownership and engagement from key staff?
  • How to develop and maintain a targeted risk register

Speaker:

  • Sean McGing, Director, McGing Advisory & Actuarial (MGAA)

11:30 – Session 4: The Operational Risk Reserve – How much is enough?

  • Should the level of Operational Risk Reserve be prescribed by the regulators
  • How to determine the appropriate level of reserve
  • The trade-off between adequacy of reserves and member benefits
  • What happens if the Operational Risk Reserve is inadequate?

Speaker:

  • Jonathan Green, Head of Investment, Tcorp

12:00 – Session 5: PANEL DISCUSSION: Liquidity Risk

  • What is the impact of asset allocation on liquidity risk?
  • How to set liquidity risk tolerances
  • What are the circumstances when liquidity risk can be beyond tolerance?
  • Who should measure liquidity risk? – the CIO or the CRO/CFO?
  • How to manage liquidity risk

12:40 – Lunch break

Lunch and Networking opportunity for participants.

13:30 – Session 6: The Risks Entailed In Outsourcing Custody

  • Are these risks fully understood?
  • Is custody and safekeeping all it seems, or are there unseen risks?
  • What risks will the custodian not indemnify?
  • Is the monitoring of this key outsourcing service provider appropriate?
  • Are service levels reported to the Board and Executive in sufficient detail and with appropriate timeliness?
  • Custodian due diligence – a template for the due diligence exercise

Speaker:

  • Brett Elvish, Founder and Director, Financial View Point

14:10 – Session 7: Unit Pricing Errors – The single biggest operational risk for superannuation fund

  • Examples of historical errors and arbitrage and the costs incurred
  • Is this crucial risk paid sufficient attention by the Board of Trustees and Executives?
  • How does the Board and Executives get regular assurance that appropriate controls are operating effectively?
  • Is the risk management framework all it should be?
  • Is accountability for unit pricing errors allocated appropriately?

Speaker:

  • Ian Grubb, Associate Director, Ernst and Young

14:50 – Tea break

Refreshments and Networking opportunity for participants.

15:20 – Session 8: Securities Lending Risks

Does the fund understand the hidden risks in a securities lending program and is it really money for nothing?

  • Is there a risk that a non-participating fund is disadvantaging its members?
  • The difference between actual and perceived risks
  • The critical difference between the lending agent’s perception of risk and the asset owner’s perception of risk
  • Examples of pension funds that have lost money in securities lending and how it happened
  • How the risk of these losses could have been mitigated
  • How to tailor a securities lending program to meet the fund’s risk appetite

Speaker:

16:00 – Session 9: External Investment Management Risk – The operational aspects

  • What are the operational risks incurred with an outsourced investment manager?
  • What checks and controls should be in place?
  • Who is responsible – the CIO or the COO – where does the expertise lie – does the CIO have a conflict of interest?
  • Is there appropriate segregation of duties in assessing operational risks of external investment managers

Speaker:

  • Philip Hope Partner, Deloitte (Invited)

16:30 – PANEL DISCUSSION: Succession Risk – Is this given enough attention?

  • What is succession risk?
  • What could trigger succession risk?
  • How to manage succession risk
  • Consequences of failure to manage the risk

17:00 – End of Day 1

  • Closing Remarks from the Chair
  • Networking Drinks

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