  Wednesday, April 2, 2003
 Concurrent Sessions - “Track I” Concurrent Sessions - “Track II" Concurrent Sessions - “Track II" Concurrent Sessions - “Track IV” Concurrent Sessions - “Track I”: 8:00 - 9:15 am “SPE Accounting” Neal Dykes Director PRICEWATERHOUSECOOPERS, LLP New York, New York We have all heard of them. But what are they, how are they used, and what are the risks associated with them? This session will address the use of special purpose entities and the accounting and accountability requirements surrounding their use. 9:30 - 10:45 am "Value-Added SAS 70 Reports” John E. Thomas, Jr., CTA VP, Senior Risk Manager MELLON FINANCIAL CORPORATION Pittsburgh, Pennsylvania Mark Twerdok Partner KPMG, LLP Pittsburgh, Pennsylvania It is difficult to view the SAS 70 report as much more than feedback on internal controls. However, SAS 70 reports can convey an institution's achievements as well as an outstanding control environment. Efficient engagement planning can also reduce examination costs while increasing the value delivered to an institution. In addition to the technical components of a SAS 70 report, Mark and John will share their perspectives on such topics as maximizing the marketing value of the SAS 70 report, partnering with Internal Audit, expanded process reviews and leveraging the external auditor while reducing examination costs. 1:00 - 2:15 pm “Disaster Recovery and Business Continuity - Planning for the Unthinkable” David A. DeMuro Managing Director Global Compliance & Regulation LEHMAN BROTHERS INC. New York, NY 10019 The financial regulators and the financial services industry are engaged in an important discussion on standards for the recovery and resumption of business in the event of a wide-scale, regional disruption. The approach adopted by the regulatory authorities will have a major impact on financial institutions in terms of planning, location of facilities, recruitment and location of employees, and, identification of institutions as "critical" in certain product areas. Should regulators provide guidance, but leave the details to the industry? Can a risk-based cost benefit analysis achieve the regulators' goals of ensuring the resilience of the U.S. financial system? What are the limits of technology? How will the industry bear the costs? We plan to address these and other important issues relating to disaster recovery and business continuity. 2:30 - 3:45 pm “Class Action Processing” John Valentine FVP & Senior Counsel MELLON GLOBAL SECURITIES SERVICES Everett, Massachusetts Learn how class actions affect your holdings, how they are “processed”, and the roles and capabilities of the various parties involved in the litigation and settlement of claims. Explore the boundaries of fiduciary duties and how to satisfy fiduciary requirements. Identify the risks and properly allocate the liabilities arising from class action processing. 4:00 - 5:15 pm “Corporate Trust / Transfer Agency” Tony Guthrie Senior Vice President RELIANCE TRUST COMPANY Atlanta, Georgia This session will cover current trends in the corporate trust business including a discussion on consolidation, new entrants to the business, key risk issues particularly acceptance criteria and administrative oversight as well as a discussion of transactions such as Enron, WorldCom and Adelphia and the challenges of representing investors in transactions such as this. Concurrent Sessions - “Track II”: 8:00 - 9:15 am “Mutual Funds vs. Common Trust Funds” Duane Lee Executive Vice President CANNON FINANCIAL INSTITUTE Athens, Georgia Participants will explore the strengths and weaknesses of the two formats for pooled investing. Discussion will include:
“Mutual Funds vs. Common Trust Funds” (Repeat Session) 1:00 - 2:15 pm “Risk in Portfolio Management” Duane Lee Executive Vice President CANNON FINANCIAL INSTITUTE Athens, Georgia Participants will learn the special risk-based considerations of the Investment Management product line. The presentation will focus on:
“Risk in Portfolio Management” (Repeat Session) 4:00 - 5:15 pm “ERISA Basics” Judy Dorian Senior Risk Management Officer CITISTREET Quincy, Massachusetts This session is designed for participants who are new to the employee benefits field. Topics covered will include basic ERISA requirements, types of plans, the allocation of fiduciary responsibilities and the roles and responsibilities of various fiduciaries, including financial institutions. Some time will be allotted to answer specific questions that participants may bring to the session. Concurrent Sessions - “Track III”: 8:00 - 9:15am “Derivatives and Structured Products” David Harrison Auditor STATE STREET Boston, Massachusetts There can be no doubt of the complexity of certain types of Derivatives and Structured Products. However, notwithstanding their complexity, it is possible to reduce much of the risk inherent in these instruments to terminology and concepts, which can be understood and applied by many. This session will endeavor to provide such an analysis. 9:30 - 10:45 am “Derivatives and Structured Products” (Repeat Session) 1:00 - 2:15 pm “Personal Trading Automation” Rhonda Marshall Senior Vice President BANK OF AMERICA, N.A. Charlotte, North Carolina Mitchel Kraskin President COMPLIANCE TOOLS, INC. New York, New York Managing conflict of interest within today's corporate setting has recently become a very high priority and one fraught with risk if adequate procedures are not deployed. Insider trading and other abuses of material nonpublic information are occurring at all levels from the Boardroom to the mailroom and can result in devastating consequences including civil/criminal prosecution and regulatory sanctions. This panel, led by Mitchel Kraskin, President and founder of Compliance Tools, Inc. and Rhonda Marshall, Senior Vice President, Personal Trading Surveillance, Bank of America, will identify how to manage those risks by providing a thorough review of the regulatory requirements from the SEC, NYSE and the recent Sarbanes-Oxley legislation; analyzing recent headlines including Enron, Imclone and others; applying lessons garnered from numerous real life scenarios; and documenting the basic components needed to conduct surveillance within a complex corporate structure. 2:30 - 3:45 pm “Valuation Pricing” Peter Maftieu Director of Investment Advisor Audit & State Services NATIONAL REGULATORY SERVICES Lakeville, Connecticut Unique challenges face our industry: consolidation of pricing services, lack of financial information to conduct proper due diligence on these services, contractual limitation of liability to the service provider, the fiduciary portfolio moving into hedge and derivative products, the need for independent pricing, etc. One of the items of criticism from the SAS70 accountants is the lack of independent price verifications, proper review of pricing variance reports (i.e. what is appropriate variance to track), and do institutions have the proper pricing challenge processes and procedures in place for both regular portfolios and the co-mingled portfolios? And, how do you accommodate these processes within the deadlines established for daily valuations. This session will provide an overview of these issues and approaches. 4:00 - 5:15 pm “Valuation Pricing” (Repeat Session) Concurrent Sessions - “Track IV”: 8:00 - 9:15 am “Conflicts of Interest” Brad Markham Trust Counsel BANK ONE, N.A. Chicago, Illinois Every day, your organization is faced with conflict of interest situations. Brad will identify many of the current “hot-button” conflict scenarios and offer reasonable solutions and reasoned preventions. 9:30 - 10:45 am “Conflicts of Interest” (Repeat Session) 1:00 - 2:15 pm “Employee Benefits – Update ” Judy Dorian Senior Risk Management Officer CITISTREET Quincy, Massachusetts This session will cover two topics, which have been the subject of attention in the employee benefits industry recently. The first is the role of company stock in employee benefit plans. The types of plans that may hold employer securities, ERISA requirements, the different roles of the various fiduciaries involved and the responsibilities of financial institutions in various capacities will be discussed. The second topic to be covered will be 12b-1 issues, regulatory guidance provided to date and recent questions. 2:30 - 3:45 pm “Charitable Trusts” Fran DeMaris Senior Vice President CANNON FINANCIAL INSTITUTE Athens, Georgia This is your chance to catch up to the changes in the charitable world. There have been some significant law issues based on perceived abuse within this area, but there is also an enormous concern among charitable ventures with the tax changes on the horizon...some good and some bad. Spend time with Fran, and get the update. 4:00 - 5:15 pm “Tax Law Changes” Fran DeMaris Senior Vice President CANNON FINANCIAL INSTITUTE Athens, Georgia EGTRRA 2001 was signed in June 2001, but its ramifications will unfold throughout the coming ten years. Be confident you know all the pieces of this important tax change. This is not just a game of numbers, but also an opportunity to understand the greater impacts these changes will have on individuals, states, charities, and the federal government. General Session: 11:00 am - 12:00 noon “FIRMA Annual Membership Meeting” James D. Strickland, CIA, CRP President FIRMA Click here to print a schedule. |