September 6, 2017 - September 7, 2017 Bayview Eden, 6 Queens Road, Melbourne, VIC 3004 Australia

The continuing Impact on the Back Office and how the Back Office can prepare to manage risk and maintain service levels in an increasingly complex environment

6th 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: CASE STUDY: A case study in insourcing investment management

The implications for the back office as funds take control of their own Investments

  • The rationale for insourcing
  • When should the Back Office be involved in the decision making process
  • Risks to be managed in the Back Office
  • How to ensure the risks to the Back Office are fully understood and managed

09:40 – Session 2: Insourcing back office functions

Is control gradually being taken away from the custodian?

  • The functions that could and could not be insourced in the short to medium term
  • Impact on custodian relationship
  • Are we increasing operational risk by removing one layer of control
  • Promoting risk awareness and risk management of insourcing
  • Setting and measuring KPIs for insourced functions

10:20 – Tea break

Refreshments and Networking opportunity for participants.

10:50 – Session 3: PANEL DISCUSSION: The future superannuation fund back office

  • What major changes have we seen so far?
  • What is still going to change?
  • Will we see more insourcing or outsourcing?
  • How will the custodian and administrator roles evolve?
  • What are we seeing with major overseas Back Offices?
  • Will fund merger activity have a significant impact?

Panel Chair:

  • Kyle Ringrose, Principal, Athena IOC

Panel Members:

  • Daniel Cheever, Head of Superannuation, State Street



11:30 – Session 4: Segregation of investment assets and the impact on the back office

  • What is meant by asset segregation for a superannuation fund
  • The benefits of segregation, in particular to the fund trustees
  • The risks of segregation and how to mitigate those risks
  • Insights into the time and costs involved
  • Initial steps to evaluate the cost/benefits for a superannuation fund


  • Kyle Ringrose, Principal, Athena IOC

12:10 – Session 5: Cyber attack – the risk to custodians and asset owners

  • How could a cyber attack happen?
  • Who takes responsibility for a cyber attack on a repository?
  • Impact on repository, sub-custodian, custodian and asset owner


  • Paul Toepfer, Investment Operations Manager, State Street

12:50 – Lunch break

Lunch and Networking opportunity for participants.

13:50 – Session 6: The challenges facing the smaller superannuation fund

  • Why large scale my not always be an advantage
  • Balancing the strength and cost of good governance
  • Taking advantage of the flexibility that comes with smaller scale
  • Getting closer to the members


  • Andrew Proebstl Legal Super, Chief Executive Officer

14:30 – Session 7: Securities lending – Is it all it seems?

  • 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


  • Jo Leaper, Manager Operational Consulting, JANA

15:10 – Tea break

Refreshments and Networking opportunity for participants.

15:40 – Session 8: Setting kpis for the custodian

  • Do we need KPIs for basics such as failed trades?
  • What are the key issues we should be measuring?
  • Examples of KPI reporting
  • The process to follow if KPIs are not met


  • Angelo Calvitto, Senior Vice President -Deputy head of sales, Northern Trust

16:20 – Session 9: PANEL DISCUSSION: What changes will we need in the back office?

What changes will we need in the back office as we increase focus on post retirement products?

Panel Members to be announced.

16:55 – End of day one

Closing remarks from the Chair and vote of thanks.

17:00 – Networking and drinks

Drinks and networking reception.

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