Transition from IBOR to Risk Free Rates

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

London, 25 - 26 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. Key concerns such as contractual obligations, building liquidity, client communications and account repercussions will all be considered.

Learning Objectives

By the end of the two days you will have new or improved knowledge of: 

  • 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

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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

 

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Course Highlights

Sessions include: 

  • Overview of IBOR to risk free rates and benchmark options

  • How to deal with the transition – case study

  • How do the operations function adapt?

  • Accounting implications

  • How to deal with the transition

  • Impact on risk management and risk control

More information

Course speakers

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John Ewan

Director

Benchmark Advisory Services

John has spent his career working around all aspects of market data and benchmarks.  He cut his teeth working at FTSE, carrying out reviews of their indices and working with their independent committees.

He then ran LIBOR for the British Bankers Association, working with the private and public sector to put in place the first sets of reforms to the operation and governance of the benchmark.

John then moved to Thomson Reuters – now Refinitiv – to develop their portfolio of benchmarks across all asset classes and territories, including the LBMA Sliver Price and WM Reuters FX benchmarks, which were two of the first regulated benchmarks.

John was a founder member of three of the first oversight committees for regulated benchmarks and sits on various public and private sector bodies that govern and develop benchmarks. 

He now works as a consultant, helping industry meet the challenges of *IBOR transition, benchmark regulation, the FX Global Code and other related matters.

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Olivier Balpe

Head of Group IBOR Transition Program

Societe Generale

TitleOlivier is the Societe Generale representative at the ECB working group on euro risk-free rates 

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Michael Hammer

Director

BDO Austria

Michael has been working for over 20 years in internationally active banks. He holds a Master’s degree from Vienna’s University of Economics & Business. He started his career at Raiffeisen Bank International where he soon was promoted to be the Head of Financial Accounting.
In 2014 he moved to Erste Group Bank where he held several senior positions and was the Chief Accountant before moving on to BDO Austria in 2018. He is an expert on IFRS Accounting for Financial Instruments, Hedging and Treasury Products.
He holds seminars and is speaking at conferences on current accounting topics. He is a member of AFRAC (Austrian Financial Reporting and Auditing Committee) financial instrument working groups and is well connected within the international Accounting & Banking community. On behalf of BDO Austria he commented on the second public consultation of the ESTER-based term structure methodology.

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Bhavin Shah

Business Lead, IBOR Replacement Programme

RBS

Bhavin is currently leading the Libor Transition programme for the Commercial Bank at RBS. He has extensive leadership and banking experience, and currently is a Managing Director in the Corporate Banking business. He has 20+ years experience in the financial services industry, including activities spanning from product management, financial analysis, corporate finance, portfolio management, change management and leading diverse teams. While his foundation was in the energy and natural resource sectors, Bhavin has developed expertise across a range of corporate sectors, culminating in senior approval authorities.

Bhavin has also got experience in managing customer journeys through the lifecycle of business lending, leading change in the end to end process to enable multi-channel delivery of core lending products. He has also been involved in regulatory projects across different jurisdictions, contributing significantly to the simplification of the business at RBS.

He started his career with KPMG in London, before moving to New York with RBS in 2004. He relocated back to London in 2016.

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Paul Brooks

Head of Traded Market Risk

Bank of Ireland

Paul’s background is in Theoretical Physics, but he has spent the last 12 years working in financial markets, in risk-taking and quantitative roles. He spent the bulk of that time as a prop trader in rates derivatives and bond markets, but in 2016 he founded the XVA desk at BoI, consolidating their approach to the management of VAs, and driving a mandate to reduce XVA related costs and improve capital efficiency. More recently, he made the jump from front to middle office, becoming head of Traded Market Risk. Paul studied for his PhD at Durham, focussing on mathematical aspects of quantum field theory. He lives in Dublin with his wife and son.

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Markus Stadtfeld

Manager

BearingPoint

Markus is a manager at BearingPoint and part of BearingPoint´s *IBOR transition team, advising clients on the transition to the risk free rates. After completing his Master degree in Finance at the Maastricht University he started his consulting career. In the course of this he gathered extensive experience in the financial service industry, including banks and asset managers.

Markus expertise covers the design and specification of end to end business processes as well as the implementation of regulatory requirements, trading systems and project management

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Markus Konz

Independent Consultant

Konz Consulting

- 15 years experience in international financial markets: Europe, US and Asia
- First class degree in financial engineering; commercial banking graduation
- Experienced risk manager in the fields of clearing, derivatives and asset management
- Energy markets expert for Power, Oil, coal and gas
- broad market participants network through client facing risk expertise at three central clearing houses

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Emiliano Papa

Director and Head of Interest Rates, FX, and Hybrids

Deutsche Bank

Emiliano has a PhD in Theoretical Physics from University of Oxford.

After graduation he went for a postdoc and later Lecturer at the University of Texas at Austin and Visiting Scholar at Caltech.

Emiliano then moved into Quantitative Finance and became director at Bank of America.

Since 2014 he has been Director and head of Interest Rates, FX, and Hybrids at Deutsche Bank.

Amba Hotel

Strand,
Charing Cross,
London, 
WC2N 5HX

Venue information

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25 June 2019
2019-06-25 08:45:25 +0100

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