Transitioning from IBOR to Risk Free Rates New York

Learn about the effect IBOR ending is going to have on the industry and how the market will deal with the transition to risk free rates.

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Transitioning from IBOR to Risk Free Rates

New York, 26 - 27 June 2019
Course guide     Apply now

This course will teach you how to deal with the implications of the transition to risk free rates on cash products, the treasury and operations functions and derivatives market.

Learning Objectives
  • Differences between IBOR and RFR's and the coordination globally 

  • The different benchmark options

  • Planning for the transition

  • How the derivatives market is affected and the legal implications 

  • How the business functions adapt to the transition 

  • Implications a move to risk free rates has on accounting practices

More information

Who Should Attend?

Relevant departments may include but are not limited to: 

  • Financial markets

  • Counterparties

  • Risk managers

  • Market infrastructure and policy 

  • IBOR transition

  • Benchmark and control

 

More information

Course Highlights
  • Overview of IBOR to risk free rates and SOFR

  • Case study on how to deal with the SOFR Transition 

  • Panel Discussion: Sharing the challenges of transition

  • Impact on risk management and risk control 

  • IBOR transformation program management considerations

  • Obligations in the derivatives and cash market

  • Accounting implications

  • Adaptation of the operations function 

More information

Course Speakers

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Blake Gwinn

Director - US Rates Strategy

Natwest Markets

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John Boyle

Senior Manager

EY

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Eric Juzenas

Global Chief Compliance Officer

Chatham Financial

Eric Juzenas is a Director in Chatham’s Global Regulatory Solutions team. He advises on derivatives regulatory compliance and legal documentation, including regulatory advisory, ISDA negotiation, pre- and post-trade compliance processes, and standalone regulatory technology solutions for clients, including reporting, valuations, portfolio reconciliation, and collateral management. He covers both US and European regulations. Eric has advised a range of clients including senior government officials, Members of Congress, and financial and commercial firms on derivatives regulation and compliance. He has played a central role in derivatives policy, helping write and implement portions of the Dodd Frank Act and working on several reauthorizations of the US Commodity Futures Trading Commission (CFTC). He has also participated in international policy and regulatory efforts with the European Union, Financial Stability Board, and the International Organization of Securities Commissions (IOSCO). At the CFTC, he was a deputy to the US Financial Stability Oversight Council. Prior to Chatham, Eric worked at Bloomberg, LP in their Global Regulatory Policy Group covering US and European regulation. Previously, he spent eleven years at CFTC in a variety of roles including Chief of Staff, Chief Operating Officer and Senior Counsel to Chairman Gary Gensler, Commissioner Michael V. Dunn and Commissioner Sharon Y. Bowen. He began his career in derivatives spending six years as Deputy Chief Counsel and Counsel to the US Senate Agriculture, Nutrition and Forestry Committee where he was responsible for writing and advising on derivatives legislation and policy. Eric graduated from the University of Wisconsin-Madison with a degree in Philosophy and certificate in Integrated Liberal Studies. He holds a law degree from the George Washington University Law School, and a masters degree in Environmental/Occupational Health from the Milken Institute School of Public Health at George Washington University.

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Paul Feldman

Director - Enterprise Risk Services

Chatham Financial

Paul Feldman is a Director in Chatham’s Enterprise Risk Services practice, delivering analytics-driven strategic advice and solutions to problems facing clients involving risk, finance, capital, and strategy. He has led engagement teams providing a wide range of consulting services in areas including model risk; market risk; credit risk; treasury analytics, liquidity and funding risk; enterprise risk; internal audit; and regulatory compliance. His 18-year career in financial services includes front and middle office roles at Goldman Sachs, Bank of America Merrill Lynch and Deutsche Bank. He has also worked previously in management consulting as a Senior Manager with Deloitte & Touche. Paul received his MBA from Columbia Business School and his BA from Tufts University. He is a GARP-certified Financial Risk Manager (FRM).

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Rob Anderson

Director - Hedge Accounting

Chatham Financial

Rob Anderson is a director on Chatham’s Real Estate Advisory team. He also serves as technical accounting lead for the Accounting Advisory practice. During his time at Chatham he has worked with clients across all sectors and geographies and has served as Product Manager for Chatham’s Hedge Accounting software. Prior to joining Chatham, Rob worked for PricewaterhouseCoopers in New York, where he primarily consulted multinational corporations, alternative investment funds and private companies on ASC 810, 815 and other technical accounting topics. Rob received his Master of Accountancy from Brigham Young University. Rob is a CPA and member of the AICPA.

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David Wagner

Senior Advisor

Treliant

David Wagner, Senior Advisor with Treliant, has been a fixed income market practitioner for 29 years, in roles ranging from underwriting and investment banking to structuring, marketing, and trading complex derivatives. He specializes in assisting companies during the transformation from the London Interbank Offered Rate (LIBOR) interest rate benchmark to alternative benchmarks such as the Secured Overnight Financing Rate (SOFR). He also teaches finance at Fordham University.

Prior to joining Treliant, David held several positions at the Royal Bank of Scotland, including on the U.S. management team, the Board of RBS Securities Inc., the Board of Tradeweb, and as the RBS representative to the Federal Reserve’s Alternative Reference Rates Committee (ARRC).

As an RBS Markets Manager, he executed strategic transformations including conversion from a U.S. branch to a U.S. representative office, including all the systems, operational, risk, regulatory, and funding implications of that change; hybrid outsourcing and offshoring of securities processing technology and operations; conversions of local risk engines to global integration; and upgrading of machine-based electronic trading systems.

David was also the U.S. Front Office Representative on RBS’s Conduct Panel, responsible for responses to regulatory/enforcement requests as well as recommendations for individual employee conduct investigations and outcomes.

With experience as a Managing Director with companies located in Canadian, U.S., and European financial centers, David is familiar with multiple jurisdictions and markets. His transaction experience includes complex structured derivatives, esoteric securitizations, and regulatory capital-driven transactions, as well as workouts, remediations, and portfolio sales.

David has a BA in Economics from Case Western Reserve University and an MBA in Finance from New York University
 

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Graham A. D. Broyd

Principal

Treliant

Graham Broyd, Principal with Treliant, leads Treliant’s Financial Markets Conduct and Compliance service area, working with regulators, large international banks, and law firms on preventing, remediating, and investigating conduct and compliance issues stemming from banks’ trading floor activities.

Graham has been actively engaged in the global banking and markets business for almost 35 years. He worked at the Royal Bank of Scotland Group (RBS) from 1995 until December 2015 in many senior management roles in the US and UK. He has also been a member of the Federal Reserve’s Alternative Reference Rate and FX Committees and was Chairman of the British American Business, Inc.

His recent positions at RBS included Chair of the RBS Markets Regulation Steering Group, both globally and in the US. In addition, he managed the bank’s Global Banking and Markets Client and Conduct Remediation programs, which included being the Disciplinary Chair for employee misconduct cases involving the London Interbank Offered Rate (LIBOR). Graham also led the bank’s Mandatory Regulatory Change programs for the implementation of all post-financial crisis regulations – including the Dodd-Frank Act, Volcker Rule, and second Markets in Financial Instruments Directive (MiFID II).

Graham was CEO of the RBS Corporate Banking and Financial Markets businesses in the US from 2002 to 2005, and previously served as New York Branch Manager and Head of Financial Markets, North America. His earlier time at RBS was spent in the FX and Rates businesses in the US and UK. Prior to RBS, he held various roles in banking, trading, and sales at JPMorgan Chase and Lloyds Bank International in London, New York, and Panama.

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Rei Shinozuka

Head of the Benchmark Index Transition Office

Federal Home Loan Bank of New York

Rei Shinozuka is the Head of the Benchmark Index Transition Office at the Federal Home Loan Bank of New York, coordinating institutional transition strategy with executive management and representatives from Capital Markets, Marketing, Legal, Accounting, Operations, Technology, Risk and Audit departments.  Prior to this role, Mr. Shinozuka was an MBS strategist at UBS, winning Institutional Investor awards in 2007 and 2008 for Structured Securities ABS strategy.  Before this, he was Director of Fixed Income Quantitative Research at PaineWebber and UBS, whose department created structuring and analytics technology for the #1-ranked Agency CMO issuer of the early 2000s.  He also developed CMO and Mortgage Analytics at Morgan Stanley.  Mr. Shinozuka earned his MBA from the Columbia Graduate School of Business, MS in Computer Science from the Columbia School of Engineering and BA from Columbia College.  He is a CFA® charterholder and Financial Risk Manager certified by the Global Association of Risk Professionals.

Downtown Conference Center

157 William Street
New York
NY 10038
T: 1-212-618-6990  
Toll free- 877-DCC-MEET (322-6338)

Venue information

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26 June 2019
2019-06-26 09:18:26 +0100

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