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.
Manager Portfolio Oversight, Australian Super
Investment and Operations Manager, ChristianSuper
Trustee Board Independent Director at IOOF Holdings Ltd
Chief Executive Officer, Link Fund Solutions
Director - Investment & Wealth Advisory at Deloitte, Former Head of Investment Risk, APRA
Managing Director, Research at Parametric Portfolio Australia (TBC)
Head of Investment Operations, Qantas Superannuation Limited
MARK NEARY Director of Product, Asset Allocation Solutions, MILESTONE GROUP | AUSTRALIA
Managing Director McGing Advisory & Actuarial
Director, Stephen Huppert Consulting
Principal
Director, Assurance and Advisory Deloitte Touche Tohmatsu
Executive Consultant Castle Hall Alternatives
Head of Investment & Reporting Asset Servicing, National Australia Bank Limited
Managing Partner at slca Sharyn Long Chartered Accountants
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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
  • 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
  • The process to follow in developing or enhancing good
    practice Unit Pricing Policies - internal and external documents that should be referenced
  • How to expand the Unit Pricing Policy into a training and
    development tool
  • Sixteen key Unit Pricing Policies to consider
  • Good and not so good Unit Pricing Principles
  • The ten key controls that will mitigate the risk of a unit
    pricing error
  • How to monitor implementation of the controls
  • Unit Pricing reporting - how to raise the profile of the unit pricing team and provide concise and meaningful insights into unit pricing for the Executives and Board

DAY 1 – AFTERNOON SESSION – THE UNIT PRICING GOVERNANCE
FRAMEWORK

  • 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
  • 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
  • Unit pricing complexity – UP cycle, multiple inputs, timing
  • What are the risks?
    • Operational, financial, strategic, reputation, legal
  • Managing these risks
    • Prevention better than cure
    • An effective risk management framework
    • Operational environment controls - people, process and systems
    • Preparedness – Processes, procedures, controls, actions
    • Reviews, checks, confidence, comfort for Board & Trustees

Refreshments and Networking opportunity for participants.

  • Who is conducting unit pricing
  • Sourcing of independent prices
  • NAV Review
  • NAV Governance / Valuation Committee
  • Investor Review and Expectation
  • Castle Hall’s Global Industry observations
  • 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

Lunch and Networking opportunity for participants.

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
  • Can the valuations process be ‘gamed’?
  • Strategies for combating gaming of the system
  • Managing valuations in a single-sector option
  • How important is the hard-close accounting book?

Lunch and Networking opportunity for participants.

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

  • APRA heat map and effective tax benchmarking
  • Fund mergers
  • After-tax investing and performance reporting
  • Retirement bonus’ credits for pension members
  • 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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PAY AFTER 12TH APR 2020
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25
Speakers
186
Days
251
Participants
20
Sessions
1
Venue
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