STEPHEN HUPPERT
Independent Consultant & Advisor

• Managing operational complexity as funds grow in size and sophistication.
• Modernising administration, reconciliations, and investment data processes.
• Creating resilient operating models through automation and digital operations.
• Balancing efficiency, governance, and member outcomes

SS&C Technologies Speaker TBA

• CPS 230 commenced 1 July 2025 — APRA's focus has shifted from implementation evidence to demonstrated, tested
capability
• Third-party and fourth-party risk management is now a board-level obligation under CPS 230, not a procurement function
• Where is the gap between what funds have documented and what they could evidence under supervisory scrutiny?

MODERATOR:

STEPHEN COUTTS
Director - APAC Product Development & Strategy, Citi

PANELLISTS:

MICHAEL BODDIE
Senior Manager PwC Australia

ANDREW SEXTON
Vice President - Outsourcing Framework Manager (Third Party Governance/ Management,
Northern Trust Corporation

PAUL MINTER
Director, Battleground

A practitioner-led discussion on what drives successful investment operating model transformation, linking design, platform
decisions, and delivery in practice.
As investment organisations expand across asset classes and strategies, operating models are under increasing pressure to
support greater scale, complexity, and integration. In this environment, technology decisions are shaped by the operating model
and how the business is designed to run and grow. This panel brings together practitioners to share perspectives grounded in
real-world transformation. At its core is operating model design, spanning platform strategy, data architecture, and
practitioner-led decision-making, and how these shape both direction and execution. The conversation will explore how
organisations balance integrated platforms and specialist solutions, and how these choices are anchored in a clear understanding of the business problem and growth ambition. It will also highlight the role of data as the organising spine of the operating
model, connecting workflows and supporting scale across the investment lifecycle. Transformation is ultimately driven by
operating model design and leadership, and delivered through close alignment between internal teams, vendors, and platform
partners. Successful outcomes depend on clarity of ambition, strong internal alignment, and a practitioner-led approach that
brings together design and delivery across the full investment operating model lifecycle.

PANEL MEMBERS:

REIN VAN ROOYEN
Global Practice Lead, Cutter Associates

CLAYTON ISSITT
Head of Alpha Client Solutions, APAC, State Street

LUKE MACKOWSKI
Director, Investment Operations, IFM Investors

LISA BATES
Head of Fund Operations,
Generation Life

11:00 Morning Coffee & Networking Break

• Unlisted asset valuation methodologies
• The regulator’s views on valuations
• Liquidity risk, concentration risk, transparency and arbitrage opportunities
• Fees and performance
• Volatility and diversification benefits of unlisted assets
• Private credit opportunities and risks
• Can super fund achieve high returns without unlisted assets
• Unlisted assets and daily pricing

KYLE RINGROSE
Principal Consultant Athena IOC

operational excellence is a direct source of competitive advantage and member value
• Where does operational alpha come from — automation reducing cost, data quality enabling better investment decisions, or
operational speed allowing funds to act on opportunities that slower competitors cannot?
• What separates the funds building genuine operational capability from those managing the function as a necessary
overhead?
• What does the investment operations function look like at the leading edge — and what does it take to get there?

12:50 Lunch Break & Networking

• The growing challenge of maintaining effective oversight across internal operations, outsourced providers and increasingly
complex data ecosystems.
• How AI can enhance governance by monitoring controls, identifying anomalies and providing greater operational visibility.
• Practical use cases for AI in exception management, audit support, process assurance and institutional knowledge retention.
• The shift from periodic reviews and manual controls towards continuous oversight and real-time assurance.
• How investment operations teams can combine AI and human expertise to improve efficiency, resilience and risk
management.

SHANE FLATMAN
Strategy & Business Development Director, Fund Recs

• Impacts of global T+1, 24/5 trading and tokenisation on Australian market
• Managing risk during market change, including CHESS replacement
• Critical operations and tolerance levels in a changing landscape
• Strengthening third-party dependencies and operational resilience
• Enhancing transparency and control over post-trade processes

MODERATOR:

DAVID TRAVERS
Chief Executive Officer, Australian Custodial Services Association

PANEL MEMBERS:

KAREN WEBB
General Manager, Equity Post Trade, Australian Securities Exchange Limited

FATOSH LORD
Senior Relationship Manager, The Depository Trust & Clearing Corporation (DTCC)

ANDREW GIBSON
APAC Custody Product Manager, State Stree

15:00 AFTERNOON TEA & NETWORKING

• Latest developments in Global ODD
• Is Australian ODD Leading or lagging?
• Development of AI - opportunities and risks
• Private Asset DD - global hot topics
• Hedge Funds are coming back - Hedge ODD 101

ALEX WISE
Global Advisory Board Member, Castle Hall

• Operational resilience and risk management.
• Talent, skills, and workforce challenges.
• Technology modernisation priorities.
• Regulatory and compliance pressures.

STEPHEN HUPPERT
Independent Consultant & Advisor

Closing Remarks from the chair
Networking Drinks