VIRTUAL CONFERENCE
CONFERENCE
Annual UP 2021UNIT PRICING ONLINE CONFERENCE 2021
16th – 17th November 2021
Days
Hours
Minutes
Seconds
About The Online Conference

This two day conference explores many of the technical and operational aspect of unit pricing. The Guide to Good Practice is examined to see how relevant this document remains in 2021, some 13 years after its last release.

Tax provisioning and periodic adjustments have been a constant source of headaches for superannuation funds and the conference provides a deep and insightful analysis into why it is impossible to accurately provision for tax. A further case study is presented, illustrating and quantifying the impacts
of adopting a simpler and more intuitive approach to addressing these issues.

We discuss how unit pricing may be more art than science in many cases and how working from home may have contributed to the operational risks with unit pricing.

The Board’s and the auditors’ roles in the unit pricing world are reviewed and discussed and problems and solutions for training new members are introduced.

Finally we discuss the role of technology and the role of the outsourced service provider in maintaining the integrity of the critical unit pricing process.

The annual Unit Pricing Forum has been running for over a decade and has been consistently among the best received conferences of its kind in Australia. This year’s Forum continues to offer a diversity of topics and industry renowned speakers. The conference provides expert views from the regulators,
superannuation funds, custodians and specialised consulting firms. In addition to insights into the critical day to day functions of risk management, controls and compliance the audience will have the opportunity to gain an understanding of where the unit pricing world is heading in terms of the
regulators’ thinking, real time transacting and the SMA alternative. This conference will be an invaluable learning experience for all members of the unit pricing team as well as for members of the Finance and Tax teams, Risk and Compliance and other areas of superannuation funds and investment management organisations.

Topics Covered:
  •  Is unit pricing more art than science?
  •  Unit pricing implication of fund mergers
  •  Examples of where the technology can make a difference in the accuracy and speed of unit pricing delivery
  • The Guide has not been updated since 2008, is it out of date or standing the test of time?
  •  Tax provisioning and periodic adjustments to tax provisions – the Traditional versus the Simple method – the theory
  •  Lessons learned from the volatile markets during 2020
  •  Key areas covered in the unit pricing audit
  •  Board and senior executive reporting
  •  Managing the outsourced service provider- Why unit pricing is almost always outsourced?
  •  Leveraging the custodian’s technology and expertise
  •  To what extent is the sophistication of the custodian’s technology platform a critical factor?
  •  Examples of where the technology can make a difference in the accuracy and speed of unit pricing delivery
  •  Training the unit pricing team
  •  Staff engagement and the control framework
  •  Crediting rates versus unit prices
  •  Unit pricing technology
Who Should Attend:
  • Unit Pricing Manager
  •  Fund Accounting Manager
  •  Trust Accounting Manager
  •  Unit Pricing Analyst
  •  Taxation Accountant
  •  Actuary
  •  General Manager Fund Operations & Risk
  •  Investment Risk Managers
  • Head of Investment Management
  •  Head of Fund Administration
  •  General Manager Legal & Compliance
  •  Investment Services Manager
  •  Manager Investment Operations
  •  Unit Pricing & Performance Manager
  •  Unit Trust Supervisor…. & also who work with unit pricing in all capacities should attend this event

SPONSORSHIP & SPEAKING OPPORTUNITES:
Unit Pricing Forum 2021 offers sponsors an excellent opportunity to demonstrate thought-leadership and leverage networking opportunities to build brand value amongst senior unit pricing professionals. If you would like to know more about sponsorship, exhibition and business development opportunities please just get in touch with us

sponsorship@ibrc.com.au

Annual UP 2021 Speakers
Learn speakers of the Annual UP 2021 Unit Pricing Forum 2021.
Senior Manager, Investment Accounting and Operations, Funds SA
Manager Portfolio Oversight, Australian Super
Director - Investment & Wealth Advisory at Deloitte, Former Head of Investment Risk, APRA
Head of Investment Operations, Qantas Superannuation Limited
Managing Director McGing Advisory & Actuarial
Principal at Athena IOC
Director, Assurance and Advisory Deloitte Touche Tohmatsu
Independent Consultant & Advisor
Country Manager, Financial Risk Solutions (FRS)
Director, Investment Advisory, PwC Australia
Director, KONU
Head of Business Solutions at GBST
Trustee Board Independent Director at IOOF Holdings Ltd
Senior Valuations and Alternatives Manager, Investment Performance and Operations, QSuper
Product Manager - Fund Processing, Milestone Group
Relationship Manager APAC, Milestone Group
Senior Manager, Consulting, EY
Associate Director Tax Policy & Services, National Australia Bank Limited
Get Involved
Interested to be a sponsorer for this event?
Gold Sponsors

Notice: Undefined variable: post_id in /opt/bitnami/apache2/htdocs/ibrc.com.au/wp-content/themes/eventchamp/include/event-modules.php on line 3008

Notice: Undefined variable: post_id in /opt/bitnami/apache2/htdocs/ibrc.com.au/wp-content/themes/eventchamp/include/event-modules.php on line 3011
Annual UP 2021 Schedule
Learn schedule, program and topics of the Annual UP 2021 Unit Pricing Forum 2021.

• The continued relevance of RG 94
• Challenges posed by the COVID-19 dislocation
• COVID-19 vs GFC – what was the same; what was different
• Did the Guide guide? Principles vs practice
• Proximate vs underlying issues
• What else would have been helpful?
• Link to the broader investment operations ecosystem Increasing focus by regulators on operational resilience

PANEL MEMBERS:

CRAIG ROODT
Director – Investment & Wealth Advisory at Deloitte

DOUGLAS MCMEEKIN
Associate Director Tax Policy &
Services, National Australia Bank Limited

• The valuations of unlisted assets
• Were there more opportunities for arbitrage?
• Was there any evidence of arbitrage?
• The different approaches adopted by different funds
• The liquidity crisis – real or imagined?
• The impact of early withdrawals on the unit pricing
function
• Member behaviour during volatile markets

PANEL MEMBERS:

MATTHEW BAYNES
Senior Manager, Investment Accounting and Operations, Funds SA

DAN HEALEY
Head of Investment Operations, Qantas Superannuation Limited

MARTIN WALSH
Trustee Board Independent Director at IOOF Holdings Ltd)

MODERATOR:

KYLE RINGROSE
Principal at Athena IOC

10:50 - 11:00 MORNING SESSION BREAK

• Timing and responsiveness – how technology can
increase speed without increasing risk
• The cost benefit analysis. How leading edge technology is justified in the context of unit pricing
• Is dedicated technology necessary for a smaller unit pricing operation?
• Why Excel is a less than ideal solution for unit pricing
• How long does it take to implement a sophisticated solution?

TERRY KYLE
Country Manager at Financial Risk Solutions (FRS) Ltd

• Evolution of Oversight
• Interpreting Operational Resilience in Unit Pricing
• How are Regulators and the Responsible Parties driving change
• Characteristics of Best Practice and the critical role of technology
• How you can better collaborate with your service providers, whilst also maintaining independence and resilience to achieve a win-win solution
• Future outlook and considerations for Australia

STEVE SORRAGHAN
Product Manager - Fund Processing, Milestone Group

DAVID GOODACRE
Relationship Manager APAC, Milestone Group

12:30 LUNCH BREAK

• Why tax provisions and periodic adjustments must always be inaccurate
• Insights into the less obvious (but often the biggest) problems with tax provisioning
• Why periodic adjustments frequently can produce
spurious results
• How to make tax provisioning simpler and periodic adjustments more simple
• How to calculate intuitively accurate periodic
adjustments in minutes
• How to save significant time and money in the
provisioning and adjustment process
• How to mitigate the risk of member complaints and dissatisfaction with the tax provision adjustment process

CASE STUDY – HISTORICAL ANALYSIS OF DIFFERENCES
IN OUTCOMES BETWEEN THE TRADITIONAL AND SIMPLE METHODS – THE FACTS

• Process followed for the analysis
• Consistency (or otherwise) with regulatory guidelines of
both the Traditional and Simple methods
• Comparison of the historical impact on unit prices of the
Traditional and Simple methods
• Implied adjusted Effective Tax Rates (ETRs)
• Detailed analysis of ETRs over the period reviewed
• Conclusions

KYLE RINGROSE
Principal at Athena IOC

• What the Board and senior executives need to know
• The appropriate level of detail
• The frequency of reporting
• Examples of reporting
• How well equipped are Board members to understand
the implication of unit pricing technicalities?

MARTIN WALSH
Trustee Board Independent
Director at IOOF Holdings Ltd

  • What could go wrong?
    • Complexity, uncertainty, risks
  • Error Remediation
    • Identify
    • Cap
    • Quarantine
    • Fix & Compensate
    • Communicate
  • Key takeaways

SEAN MCGING
Managing Director, McGing Advisory & Actuarial

• The areas where estimates and approximations are unavoidable
• Regulatory guidance in the estimation process – too little or too much
• Good and not so good estimation practices
• Is the Guide always right in stating that estimates should be adjusted as soon as possible after actuals are known?
• The Guide states that there is no single method to achieve “good practice”. Can there be a common best or preferred method
• How different practices result in different outcomes across funds

PANEL MEMBERS:

PETER KIRIEVSKY
Director, Assurance and Advisory, Deloitte Touche Tohmatsu

STEPHEN HUPPERT
Independent Consultant & Advisor

SEAN MCGING
Managing Director, McGing Advisory & Actuarial

KATHY TAYLOR-HOFMANN
Head of Business Solutions at GBST

MODERATOR:

KYLE RINGROSE
Principal at Athena IOC

• Why unit pricing is almost always outsourced
• Expectations of the unit pricing service provider
• Key controls expected of the service provider
• Essential additional controls required by the asset owner
• Key components of the SLA
• Due diligence of the service provider – what, how and when
• Is the level of oversight generally too much or too little?
• Has working from home impacted the ability to monitor outsourced services?

PAUL TOEPFER
Director, KONU

• To what extent is the sophistication of the custodian’s technology platform a critical factor?
• Examples of where the technology can make a
difference in the accuracy and speed of unit pricing delivery
• Can the unit pricing team learn from the experience of the custodian’s team?
• Examples of leveraging the custodian’s expertise
• The importance of seeing the custodian as a business partner or a service provider
• Can the custodian be expected to understand the
intricacies of each of their clients’ unit pricing practices
• To what extent should the asset owner adopt he
custodian’s unit pricing policies

AMY SPENCER
Senior Manager, Consulting, EY

PAUL TOEPFER
Director, KONU

ALANA WILSON
Senior Valuations and Alternatives Manager, Investment Performance and Operations, QSuper

MODERATOR:

KYLE RINGROSE
Principal at Athena IOC

10:30 - 10:40 MORNING SESSION BREAK

• What does the regulator’s “equivalency” test mean for unit pricing?
• The need for a common MySuper product
• The definition of a common MySuper product
• Unit pricing considerations immediately prior to the merger including asset valuations and tax provisions
• The impact of using more than one custodian or
administrator
• The benefits of consolidating assets and products immediately after the merger
• Other unit pricing implications

NARESH SUBRAMANIAM
Director, Investment Advisory, PwC Australia

• The impact of training new staff when working from home
• Solutions to “on the job” training in an empty office
• Case study of training new staff
• Examples of problems arising
• The value of well documented policies and procedures
• The availability of relevant external training courses
• Essential checks and controls during the training period

ROBERT SIMPSON
Manager Portfolio Oversight, Australian Super

• Key consideration in managing the engagement of the unit pricing team
• The impact of working from home on staff engagement
• Changes implemented to maintain or enhance staff engagement
• Building a “team spirit” when working remotely
• Managing potential increased risks of errors
• The need for additional controls or enhancements to controls

PANEL MEMBERS:

ROBERT SIMPSON
Manager Portfolio Oversight, Australian Super

Other panel members TBA

• What is a crediting rate?
• Why is it different to a unit price?
• Pros and cons of crediting rates
• Can the use of a crediting rate mitigate the risk of a unit pricing error?
• Why is unit pricing so commonly preferred to crediting rates?

STEPHEN HUPPERT
Independent Consultant & Advisor

12:50 Closing remarks from the chair

Registation Packages
Prices and offers for the 'Annual UP 2021 Unit Pricing Forum 2021 '
SINGLE ONLINE REGISTRATION PRICING - EARLY REGISTRATION:
Register before 30th September
$1,890 + GST
SINGLE ONLINE REGISTRATION PRICING - NORMAL REGISTRATION:
Pay after 30th September
$1,990 + GST
GROUP REGISTRATION:

Unlimited Registration Offer* (Pay for 3 delegates to get the unlimited delegate registration offer from the same company)

Click on the button below and fill the form to confirm your registration.

Conference Resource
Download a copy of the brochure.
Latest Posts
You can find the latest posts in this section.
Contact Us
Contact us to know more about this Online Conference


    Event Search