IFRS 9, Prudential Regulation and Disclosure Forum

IFRS 9 Financial Instruments: latest developments

IFRS 9 Financial Instruments took five years to complete and has been described as the largest implementation project currently facing banks – bigger than Basel and the first-time adoption of IFRS back in 2005. The standard introduces the much heralded recognition of expected credit losses and will require substantial developments in systems, processes and data involving both credit risk and finance functions.

This BBA event brings together a number of speakers who have been living and breathing IFRS 9 for the past few years and are happy to relate their experience and discuss the issues that remain open or are only beginning to settle. They will focus in particular on IFRS 9 expected credit loss impairment and will also consider what IFRS 9 means for banks of differing type and size.

Speakers include:

  • Senior representative, Bank of England
  • Claire Cordell, Group Financial Controller, Aldermore
  • Conrad Dixon, Head of Global Accounting Policy, HSBC
  • Burcu Guner, Senior Director, Sales Manager, Moody’s Analytics
  • Nala Tharmaratnam, Chief Accountant’s Department, The Royal Bank of Scotland
  • Neil Wannop, Head of Accounting Development, Lloyds Banking Group

Topics on the agenda include:

  • 2018 and beyond
  • Auditor expectations for differing types of bank
  • Regulatory expectations
  • Project planning for a ‘medium-sized’ organisation
  • Disclosure: what should we be telling the marketplace?

09:00 Registration and refreshments
09:25 Opening remarks from the Chair

Paul Chisnall, Executive Director, BBA

09:35 Presentation: 2018 and beyond
  • How to manage volatility
  • How it ties into stress testing
  • Capital challenges
  • Strategic planning

Burcu Guner, Senior Director, Sales Manager, Moody’s Analytics

10:15 Presentation: Auditor expectations for differing types of bank
  • Auditor expectations and standards
  • What proportionality means in practice
  • 2017 technical update

Senior representative, Deloitte

10:45 Networking refreshments
11:10 Presentation: Regulatory expectations
  • May 2017 EBA guidance
  • Data points
  • PRA expectations for differing types of institution

Senior representative, Bank of England

11:35 Presentation: Project planning for a ‘medium-sized’ organisation
  • Understanding the deliverables
  • Project structure
  • Data points
  • Decisions and governance

Claire Cordell, Group Financial Controller, Aldermore

11:55 Panel discussion: Disclosure: what should we be telling the marketplace?
  • Reliable estimates: the ticking clock
  • Transitional disclosures: what and when?
  • Financial statements – principles and approach
  • Planning for ARA and Pillar 3 disclosure
  • What do users want?

Manus Costello, Managing Partner, UK Banks, Autonomous Research
Conrad Dixon,
Head of Global Accounting Policy, HSBC
Neil Wannop, Head of Accounting Development, Lloyds Banking Group
Nala Tharmaratnam,
Chief Accountant’s Department, The Royal Bank of Scotland
Senior representative, Moody’s Analytics

12:55 Closing remarks

Paul Chisnall, Executive Director, BBA

13:00 Networking lunch

Paul Chisnall

Executive Director, BBA

 

Paul’s responsibilities include banking reform, financial reporting, tax and corporate governance.  Paul prepared industry responses to the Independent Commission on Banking, the Parliamentary Commission on Banking Standards and various financial stability related UK government consultations. He is currently working on issues arising from the Financial Services (Banking Reform) Act 2013, including its provisions on ring-fencing and measures arising from the Government and regulatory response to the PCBS recommendations.

Claire Cordell

Group Financial Controller, Aldermore

Manus Costello

Managing Partner, UK Banks, Autonomous Research

Conrad Dixon

Head of Global Accounting Policy, HSBC

 

Conrad Dixon is Head of Global Accounting Policy at HSBC Holdings plc. Conrad qualified as a Chartered Accountant with Coopers & Lybrand, and has extensive experience in the banking industry in both accounting policy and a wide range of general finance roles. Most recently he has been closely involved in HSBC’s IFRS 9 Impairment Project, and is closely involved in the work of the British Bankers’ Association on IFRS 9.

Burcu Guner

Senior Director, Sales Manager, Moody’s Analytics

 

Burcu Guner is the EMEA Stress Testing Practice Leader at Moody’s Analytics. In the past 16+ years, Burcu has spent working with financial firms extensively in a variety of areas from Credit Risk, Credit Portfolio Management, Economic Capital, Stress Testing and more recently IFRS 9. Prior to her roles at Moody’s Analytics, Burcu had led key risk initiatives at a major global consulting firm and also worked in the field of investment banking, debt capital markets at a global top tier investment bank.

 

In her 13+ years at Moody’s Analytics she has worked on a number of advisory engagements, relating to credit risk and portfolio models, and stress testing as well as pricing and valuation tools. Her experience and expertise stretch to various consulting projects in the field of IRB models, capital planning and provisional analysis, to name a few.

Nala Tharmaratnam

Chief Accountant’s Department, The Royal Bank of Scotland

Neil Wannop

Head of Accounting Development, Lloyds Banking Group

Headline Partner:

Moody’s Analytics helps capital markets and risk management professionals worldwide respond to an evolving marketplace with confidence. The company offers unique tools and best practices for measuring and managing risk through expertise and experience in credit analysis, economic research and financial risk management. By providing leading-edge software, advisory services, and research, including the proprietary analysis of Moody’s Investors Service, Moody’s Analytics integrates and customizes its offerings to address specific business challenges. Moody’s Analytics is a subsidiary of Moody’s Corporation (NYSE: MCO), which reported revenue of $3.5 billion in 2015, employs approximately 10,400 people worldwide and maintains a presence in 36 countries. Further information is available at www.moodysanalytics.com.