77 York Street, Sydney 2000, Australia
Forum
Annual UP 2020UNIT PRICING OPERATIONAL RISKS & CHALLENGES 2020 FORUM
Detailed insights and analysis into the unit pricing governance framework and the single biggest operational risk in unit pricing i.e tax provisioning and tax true ups
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About Unit Pricing 2020
Detailed insights and analysis into the unit pricing governance framework and the single biggest operational risk in unit pricing i.e tax provisioning and tax true ups
CAREER PROGRESSION

Views from successful people on “how to climb the corporate ladder”, The corporate ladder in perspective for the new entrant.

UNIT PRICING AUDIT

What the auditors are looking for, Common areas causing audit exceptions, The relevance of the Guide to Good Practice as a benchmark for the auditor

TAX PROVISIONING

Analysis and debate over the previous sessions from industry experts, What are the key tax provisioning controls we must implement

UNIT PRICING GOVERNANCE

The basic principles for a robust unit pricing governance framework, The “must haves” and “nice to haves” from a governance perspective

Detailed insights and analysis into the“ unit pricing governance framework and the
single biggest operational risk in unit pricing i.e tax provisioning and tax true ups”

Unit Pricing 2020 Speakers
Learn speakers of the Annual Unit Pricing 2020.
Craig Roodt
Director - Investment & Wealth Advisory at Deloitte, Former Head of Investment Risk, APRA
GRACE YAM
Investment and Operations Manager, ChristianSuper
MARTIN WALSH
Trustee Board Independent Director at IOOF Holdings Ltd
PAUL KHOURY
Chief Executive Officer, Link Fund Solutions
RAEWYN WILLIAMS
Managing Director, Research at Parametric Portfolio Australia (TBC)
MARK NEARY
MARK NEARY Director of Product, Asset Allocation Solutions, MILESTONE GROUP | AUSTRALIA
SEAN MCGING
Managing Director McGing Advisory & Actuarial
STEPHEN HUPPERT
Director, Stephen Huppert Consulting
Kyle Ringrose
Principal
PETER KIRIEVSKY
Director, Assurance and Advisory Deloitte Touche Tohmatsu
ALEX WISE
Executive Consultant Castle Hall Alternatives
KEVIN HOLDEN
Head of Investment & Reporting Asset Servicing, National Australia Bank Limited
Sharyn Long
Managing Partner at slca Sharyn Long Chartered Accountants
Robert Simpson
Manager Portfolio Oversight, Australian Super
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Unit Pricing 2020 Schedule
Learn schedule, program and topics of the Annual Unit Pricing 2020.

Registration of attendees.

Opening remarks and addressing attendees by the Chair

DAY 1 – MORNING SESSION – KEYNOTE ADDRESS, LESSONS FROM THE ROYAL COMMISSION, SPEED TO MARKET AND HOW TO MANAGE CAREER PROGRESSION IN UNIT PRICING

  • The different objectives of regulators and consultants
  • Where there is complete agreement on the unit pricing
    framework
  • The grey areas
  • Where there can be different views
  • How the Trustees can be faced conflicts of interest
  • Are Trustees always able to access the levels of unit pricing skills and experience required to discharge their fiduciary duties
  • When can the Operational Risk Reserve be accessed to compensate members
  • Areas of concern the Royal Commission may have missed

Refreshments and Networking opportunity for participants.

  • Do we need to strike unit prices more frequently than daily
  • Should unit prices be struck monthly or weekly
  • What are the impediments to changing the industry norm of daily pricing
  • Who would be the beneficiaries of any changes
  • What would be the drivers of change
  • The corporate ladder in perspective for the new entrant
  • Views from successful people on “how to climb the corporate ladder”
  • Where does responsibility for career progression for a unit pricing analyst lie
  • Why personal development is important for a unit pricing analyst but is not necessarily the complete answer
  • What “career progression” can mean to different people within an organisation
  • Why every organisation must have an error rectification plan
  • What a plan might look like
  • “Must haves” for an error rectification plan
  • Communication with the Board and the regulator, why, when and how

Lunch and Networking opportunity for participants.

THE UNIT PRICING BREACH REGISTER AND RISK REGISTER

  • Why a breach register is required
  • The importance of documenting “near misses”
  • Examples of near misses
  • The relevance of the enterprise risk register to the unit pricing function
  • Exaamples of a well constructed breach register and risk register
  • Essential policies
  • Why policies can be different between different organisations
  • Can we have too many policies
  • Examples of good and not so good unit pricing policies

Refreshments and Networking opportunity for participants.

  • The basic principles for a robust unit pricing governance
    framework
  • Corners not to be cut
  • Balancing the need to control costs with the need to have strong controls
  • How to convince the organisation that the costs of strong controls are justified
  • The “must haves” and “nice to haves” from a governance
    perspective
  • Expectations of the regulator
  • Are unregulated entities able to adopt a lower standard of governance
  • The importance of unit pricing principles overlaying unit
    pricing policies
  • Unit pricing reporting for senior managers and the Board

Drinks and networking reception

Registration of attendees.

MORNING SESSION – PREPARING FOR A UNIT PRICING AUDIT, UNIT PRICING CONTROLS WITHIN A SMALLER SUPER FUND AND CONTROLS OVER OUTSOURCING. RESEARCH PAPER INTO TAX PROVISIONING AND HOE TO CONVERT UNIT PRICING INTO A DIAGNOSIS TOOL

  • What the auditors are looking for
  • Common areas causing audit exceptions
  • The relevance of the Guide to Good Practice as a benchmark for the auditor
  • Things a good unit pricing team always do well
  • The extent to which the Fund can rely on the custodian’s
    controls
  • Essential checks and controls over the custodian’s unit pricing process
  • The distinction between the custodian’s unit pricing policies and the Fund’s policies
  • How to address segregation of unit pricing dutues issues within a smaller Fund

Refreshments and Networking opportunity for participants.

  • How automation can enhance controls
  • How to avoid duplication of checks and controls
  • Where technology can add value in excess of the potentially increased costs
  • Case study of efficiency gains with enhanced automation
  • How unit pricing can be used as adiagnosis tool
  • Gaining an appreciation of critical business processes
  • Fully appreciating and understanding an outsiurced
    environment
  • Developing a unit pricing dashboard
  • Does the infrequent valuation of unlisted assets present
    opportunities for arbitrage
  • Is it appropriate to have daily unit pricing for unlisted
    assets
  • How to mitigate the risk of arbitrage for e.g. infrastructure
    or unlisted real estate assets
  • How to ensure the periodic valuations of unlisted assets
    is independent of the investment manager

DAY 2 - AFTERNOON SESSION – TAX PROVISIONING, THE BIGGEST SINGLE OPERATIONAL RISK IN UNIT PRICING

  • Review of paper presented to Actuaries Insttute
  • What (if anything) has changed since
  • Key issues and potential solutions
  • Why DTA caps are essential
  • Why some organisations may have ignored DTA caps
  • How to specify appropriate DTA caps
  • Should the caps be at a Fund or member option level for a super fund
  • Problems resulting from inappropriate or non-existatnt
    DTA caps

Refreshments and Networking opportunity for participants.

  • An example of a commonly used model
  • Stepping through the process
  • Why the outcomes are not always what you might expect
  • Options to address unexpected outcomes
  • Is a complex model really justified
  • Analysis and debate over the previous sessions from industry experts
  • Can we make tax provisioning and tax true-upssimpler
  • Do more frequent adjustments to provisions negate the need for complex provisioning models
  • Why does the true up so often produce spurious results
  • What are the key tax provisioning controls we mustimplement

Closing remarks from the Chair and vote of thanks by the Chairman

Unit Pricing 2020 Resource
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SUPER EARLY BIRD
PAY BEFORE 15Th Mar 2020
$2744.50

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DISCOUNTED RATE
PAY BEFORE 12TH APR 2020
$3074.50

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NORMAL RATE
PAY AFTER 12TH APR 2020
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25
Speakers
186
Days
251
Participants
20
Sessions
1
Venue
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