IBOR Transition to Risk Free Rates Sydney

Having received exceptional feedback from running this course earlier in 2019, IBOR to Risk Free Rates is returning to Australia to provide attendees with best practice approaches for dealing with the implications of the transition to risk free rates.

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IBOR Transition to Risk Free Rates

Sydney | December 11-12, 2019


Event Agenda  Early Bird Registration

IBOR Australia 2019

Having received exceptional feedback from running this course earlier in 2019, IBOR to Risk Free Rates is returning to Australia to provide attendees with best practice approaches for dealing with the implications of the transition to risk free rates.

Key concerns such as adapting the operations function, defining and modelling rates, accounting for loans and the wider impacts on risk management will all be considered.

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What will you learn?
  • Global IBOR to RFR context and progress so far
  • About the benchmark options, similarities and differences to global markets
  • Practical ways to deal with the transition
  • How to manage the impact on risk management and risk control
  • Tax insights, legal issues and other accounting implications 
  • Technology impacts and operating model challenges
  • What to look out for in 2020
Who should attend

This course has been designed for anyone in financial services who is working in, and affected by the transition to risk free rates. Relevant departments may include but are not limited to:

  • Financial markets
  • Regulation
  • Counterparties
  • Treasury
  • Risk managers
  • Derivatives
  • Market infrastructure and policy 
  • Ibor transition
  • Benchmark and control

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Pieter Bierkens

Group Lead, Interest Rate Benchmark Reform

Commonwealth Bank of Australia

Pieter is Commonwealth Bank of Australia’s Interest Rate Benchmark Reform Lead. In his current capacity he coordinates the Bank’s preparation for the global reform of interest rate benchmarks. His prior role was that of Executive Director – Regulatory Strategy. He has been based in Sydney since 2014.

Previously, Pieter was Head of Markets of Commonwealth Bank in New York. Prior to Commonwealth Bank, he worked for 10 years in New York and London, where he started his career advising institutional investors on global fixed-income markets.

A dual citizen of the US and the Netherlands, Pieter holds a degree in Economics from Erasmus University and a Master degree in International Affairs from Columbia University in New York. He is a Chartered Financial Analyst and holds the Financial Risk Manager designation.

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Stanley J. Hales

Partner - Transfer Pricing

Deloitte

Stan is a partner and transfer pricing economist in the Deloitte tax practice based in the Sydney Australia office.  With over 20 years of experience, he collaborates with his clients to solve transfer pricing and tax-related valuation problems, with a focus on the financial services industry.  Stan's clients include primarily commercial and investment banks.  A current project involves the tax and transfer pricing ramifications of the IBOR reference rate replacement in customer lending and derivatives arrangements at a multinational commercial bank.  Other clients include real estate investment trusts, investment managers, private equity firms, insurance companies, brokerage firms, trading companies, finance companies, and treasury operations at technology, media and pharmaceutical companies.  The valuation analyses cover loan valuations, diverse inter-company fees, insurance premia, commissions, credit spreads, guarantees and interest rates on loans, as well as royalty modeling and cost-sharing analyses for intangible property, and cost allocation studies. His tax controversy experience includes IRS field exams and appeals proceedings; preparing mutual agreement procedure submissions to revenue authorities such as the IRS, the ATO, and Japanese NTA; preparing rebuttal papers concerning proposed tax adjustments; and negotiating bilateral advanced pricing agreements with revenue authorities. His expert testimony as an economist involved complex loan re-pricing, IP valuation, and royalty analyses, which settled out of court.  Relevant tax treaty experience involves the application of the OECD reports on global trading of financial instruments to the allocation of income to permanent establishments of taxpayers operating global dealing operations in branch form.  Stan taught university-level courses in economics, statistics, money and banking and transfer pricing. He was a doctoral fellow at the Rheinische Friedrich-Wilhelms-Universität Bonn and earned MA and PhD degrees in Economics from The Ohio State University of Columbus, Ohio, USA, with a primary focus on the valuation of foreign currency futures options.  As a husband to his wife Lori for 18 years, in their spare time, they enjoy sailing and mountain biking together.

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Alexander Lord

Director

Deloitte Touche Tohmatsu

Alex is a Director of the Deloitte Global Financial Benchmarks Working Group and has over 15 years’ experience providing professional services to financial services clients both in Australia and globally. In particular he has commercial experience working at a number of large global banks, financial institutions and Australian banks on IBOR Reform.

He has worked across a number of advisory engagements focused on governance and conduct reviews and risk and regulatory advisory. Alex has experience delivering and leading regulatory strategy and change projects. Alex is a leader of our Deloitte Global Financial Benchmarks Team across the UK, EU, US and APAC.

  • Led the development of a financial benchmarks inventory to risk assess, and implement controls for benchmark activity. Led the delivery of Market Conduct Risk and IBOR Reform Projects in Australia and the UK, working across the multiple divisions developing the response to the IBOR discontinuation, impact analysis and regulatory responses as a result of Dear CEO Letters.
  • Alex has led a number of our engagements in relation to IOSCO Principles – Financial Benchmarks focussed gap analysis and implementation, and has helped advise firms on their control framework to embed governance arrangements in responding to regulators concerns.
  • Whilst in London, Alex has led engagements in respect of financial benchmark controls and processes supporting compliance with FCA Market Abuse Regulations, and financial benchmark codes of conducts, which includes the LIBOR submission processes.
  • Alex has lead the design and implementation of a target control framework supporting a Global Tier 1 bank’s administration and contribution to financial benchmarks globally.


Professional and academic qualifications

  • Graduate of Australian Institute of Company Directors (GAICD)
  • Masters of Applied Finance (M App Fin)
  • Member of the Institute of Chartered Accountants Australia (ICAA)
  • Bachelor of Business (Accounting), RMIT
  • Fellow of FINSIA (F Fin) and Committee member - FINSIA Regional Council VIC
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Damien Jones

Partner

Ernst & Young

Damien is a partner in EY’s capital markets advisory team in Sydney, Australia. He has previously worked in the UK and US and has over twenty years’ experience servicing a range of treasury and capital market clients across the globe. He has led a number of engagements at large Australian banks focused on G20 derivative reform, including uncleared margin, trade reporting, and Volcker requirements as well as the MIFID 2 implementation and program management. He is currently part of EY’s global IBOR transition team and co-lead for Asia-Pacific.

He is currently supporting the delivery of a number of IBOR impact assessments and program implementations. He is also acting as an Independent Expert for an Enforceable Undertaking on BBSW.

Damien is a Certified Finance & Treasury Professional of the Finance and Treasury Association (CFTP).

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Yu Zhang

Managing Associate

Allens

Yu is a Managing Associate in the Banking & Finance practice group at Allens. He advises borrowers and lenders on a broad range of finance transactions and global markets issues, including in relation to derivatives and GMRAs. He is currently working with a major Australian bank on its LIBOR transition.
Yu is a regular speaker on behalf of the International Swaps and Derivatives Association, Inc and the Asia Pacific Loan Market Association. He completed his Masters of Law at Cambridge University in 2009 with a focus on private law, and his Masters of Law at Harvard University in 2010 with a concentration in corporate governance and financial regulation.

The Westin Sydney

1 Martin Pl
Sydney NSW 2000
Australia
T: +61 2 8223 1111

Venue information

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Company profile

Bank of China (Hong Kong) Limited ("BOCHK") is a leading listed commercial banking group and the banknote issuing bank in Hong Kong. Firmly rooted in Hong Kong since 1917, BOCHK also acts as the ASEAN regional hub of Bank of China Group to build a financial artery in support of the national Belt and Road Initiative. BOCHK is committed to continue playing a vital role in Hong Kong's financial system stability by having the most extensive local branch network in Hong Kong, including approximately 200 branches, more than 250 automated banking centers and efficient e-channels of over 1,000 self-service machines.

BOCHK offers a comprehensive range of global financial products and advisory services to central banks, supranational institutions, sovereign funds, financial institutions, corporate and personal clients. With its distinct market position, BOCHK has been enjoying favorable credit rating and stable outlook by international rating agencies. BOCHK is named to have the most Digital Banking Initiative in Hong Kong by The Asian Banker 2018, this honour has been granted to the Bank for the third consecutive years in recognition of its outstanding position in Fintech development to provide quality banking services for its customers.

BOCHK is the sole RMB Clearing Bank in Hong Kong appointed by the People's Bank of China ("PBOC") since 2003 and the first CIPS Offshore Direct Participant since June 2016, which is recorded as the top of the RMB Clearing Bank in terms of settlement volumes among offshore platforms. Leveraging its professional expertise, comprehensive range of RMB services, and its close collaboration with Bank of China in the Mainland China, BOCHK is definitely the best choice for all RMB needs of customers globally -"A Century of Heritage. A New Era of Excellence".

Company profile

BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries. As of June 30, 2019, BNY Mellon had $35.5 trillion in assets under custody and/or administration, and $1.8 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.

Company profile

BNP Paribas is a leader in banking and financial services and has a long association with the official institutions' sector. The Group is present in nearly 75 countries globally enabling clients to benefit from a range of services including corporate & institutional banking; asset servicing and asset management. www.bnpparibas.com Fully integrated in the BNP Paribas Group, BNP Paribas Corporate and Institutional Banking (CIB) is a leading provider of solutions to two client franchises: corporates and institutionals. We strive to service the global economy by providing solutions to its clients in financing, flow banking, financial advisory, global markets, risk management and the securities services requirements of the world's leading Official Institutions. CIB is a leader in distribution of Sovereign Debt and has dedicated coverage and sales teams for Official Institutions clients across all regions. www. cib.bnpparibas.com, www.securities.bnpparibas.com

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Company profile

With the unique combination of financial services, technology and regulatory expertise, IBM RegTech enables institutions to make more timely and risk-aware decisions. We apply the latest advancements in artificial intelligence, machine learning and automation to the risk and compliance process, increasing operational efficiency, accelerating insight and improving transparency. This greater oversight and understanding helps our clients preserve institutional trust and enhance value to their shareholders and customers alike.

To learn more about IBM financial crime and regulatory compliance solutions, visit ibm.com/RegTech and follow us on Twitter @IBMFintech
 

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Company profile

普华永道 - 中国內地、香港、澳门、台湾及新加坡
普华永道中国內地、香港、澳门、台湾及新加坡成员机构根据各地适用的法律协作运营。整体而言,员工总数约21,000人,其中包括约850名合伙人。

无论客户身在何处,普华永道均能提供所需的专业意见。我们实务经验丰富、高素质的专业团队能聆听各种意见, 帮助客户解决业务问题,发掘并把握机遇。我们的行业专业化有助于就客户关注的领域共创解决方案。   

我们分布于以下城市:北京、上海、香港、沈阳、大连、天津、济南、青岛、南京、苏州、杭州、宁波、合肥、郑州、武汉、长沙、西安、成都、重庆、昆明、厦门、广州、深圳、澳门、海口、台北、中坜、新竹、台中、台南、高雄和新加坡。

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Company profile

KPMG operates as an international network of member firms offering audit, tax and advisory services. We work closely with our clients, helping them to mitigate risks and grasp opportunities. Our firms'​ clients include business corporations, governments and public sector agencies and not-for-profit organisations. Sustaining and enhancing the quality of our professional workforce is KPMG’s primary objective.

We support reforms that strengthen the markets’ credibility and their social responsibility. KPMG combines our multi-disciplinary approach with deep, practical industry knowledge to help clients meet challenges and respond to opportunities. KPMG Advisory works with clients to tackle challenges in deal advisory, management consulting and risk consulting.

 

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