Stream One: Strategy & Operations
Tuesday 7th September 2010, Hilton Canary Wharf, London, 08:30 - 17:20
£2,750.00/PRA Gold Membership
£1,500.00/PRA Silver Membership
£999.00/Conference
£499.00/CD-ROM
£175.00/ Conference attendance for PRA members
Agenda
08:30 Registration and coffee
09:00 Chairman’s Opening Address
Jim Trotter, Senior Vice President - Global Head, Investment Risk and Analytical Services, Northern Trust
09:10 Risk oversight in a post-crunch environment
n What can performance teams do to cotnribute to effective risk management?
n Performance measurement as part of a company-wide risk management process
n Effective tools for managing risk
Pierre Sarrau, Managing Director, Multi-Asset RQA, BlackRock
09:40 The rise of fiduciary management and its impact upon performance measurement
n What is fiduciary management?
n Why are pension funds adopting it?
n What are the implications for performance and risk teams?
Remco van Eeuwijk, Managing Director, MN Services
10:10 Ensuring quality of service and delighting clients with
additional add-ons
n Protecting KPIs; reputational risk, timelines and delivery
n The part that Performance teams play in client retention
n Can you measure a causal link between a better PM proposition and client retention?
n Dealing with 3rd party providers
Panellists include:
Joe Kavanagh, CFA, Head of Performance Measurement & Risk Analysis, KBC Asset Management
Frédéric Lalande, Director, Performance Analysis & Reporting, Europe Middle East & Africa, Russell Investments
Leonie Woodward, Head of Performance, Legal & General Investment Management
10:50 Morning coffee
11:20 How to set up a Investment Risk team and what additional services could they offer to clients?
n Market, counterparty, liquidity, concentration risk, etc.
n How to connect on these risks with clients from different sectors: Asset Managers, Pension Plans, Insurance Companies, etc.
Romain Berry, Executive Director, Global Market Risk Manager, J.P. Morgan Plc.
11:50 Performance Measurement in the context of the post financial services tsunami era
n How does the performance function sit within a modern asset management company?
n What are the obstacles to giving PM departments more prestige in asset management?
n How does PM meet the needs of clients and the company despite budget cuts and increasing demands for more sophistication?
Panellists include:
Gordon Fischbacher, Head of Market Risk, Credit Risk & Performance, Santander Asset Management
Darren Crowley, Head of Performance Analysis, Product and Risk Management, Pictet Asset Management
12:30 Roundtable discussions
13:00 Networking Lunch
14:10 ROUNDTABLE DISCUSSIONS: Let’s discuss different risk measures available and ascertain which are best under certain scenarios
Risk measures and their applicability, is there a perfect risk suite? What is the ideal set of risk disclosures? What are the best risk measures and their applications across different situations? Which measures are complimentary and which say the same thing in a different way? Pairing them so that when used together they are useful; and used under the right scenarios.
n Complimentary risk disclosures; when they work and when they don’t
n When it comes to risk, what physically can you do, and what should you do under different circumstances
n Standard deviation; bell shaped curves that show the deviant events, but tend to overlook the bad events
Led by: Romain Berry, Executive Director, Global Market Risk Manager, J.P. Morgan Plc.
14:50 Roundtable feedback to the floor
Each table will give feedback on their discussions to the whole audience:
n What were the 3 main things you discussed
n Was there anything that surprised you?
n What conclusions did you reach?
15:00 Afternoon tea
15:30 PANEL DISCUSSION: Potential pitfalls of using accounting data in performance calculations
n Identifying and documenting performance and accounting data needs of your organisation
n Making all downstream users of performance/accounting information aware of implications to their data prior to implementation. This can’t be over communicated
n Setting a timeline and evaluating the progress versus goals on a regular basis
n Identifying hurdles and roadblocks and having contingency plans ready
Chris Nimmick, Global Head of Performance, HSBC Global Asset Management
Neil Mackay, Head of Performance Measurement & Data Management, Standard Life Investments
Joe McDonagh, Performance Measurement Product Manager, Eagle Investment Systems
16:00 Performance measurement in the equities space
Altaf Kassam, CFA, Managing Director, Global Head of Equity Quantitative Strategy, Deutsche Bank AG London
16:30 Keynote Speaker:
 Tim Harford, The Undercover Economist
Tim Harford is a renowned behavioural economist, author and award-winning Financial Times columnist. His two books, The Undercover Economist and The Logic of Life, have been translated into 30 languages and sold nearly a million copies.
Drawing on the frontiers of economic research, Tim’s speeches cover everything from theories on how to save the world from Armageddon - to how we can match odd socks, lose weight and find happiness. He also explores consumer behaviour when times are hard, contrasting detailed research with tabloid headlines. He shows there are ‘good’ and ‘bad’ recessions and reveals that whilst we cut back, we often do so in unexpected ways. From the retailer’s perspective, competitive advantage goes to those who can target their discounts selectively.
Financial Meltdown
Tim Harford looks at insights from nuclear and industrial accidents and applies them to financial crises drawing observations about early warning signs and whistle-blowing.
17:00 Q&A From the floor
17:10 Closing remarks from the chair and close of conference
17:20 Onwards: Drinks reception
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