Conference programme - Alfi

Dear Fund Industry Professional,
The Association of the Luxembourg Fund Industry, ALFI, together with the Luxembourg Association of
Risk Management, ALRiM, have the pleasure of informing you of the fourth edition of the:
ALFI & ALRiM Risk Management Conference
Wednesday, 17th April 2013
at the Luxembourg Chamber of Commerce
7, rue Alcide de Gasperi, Kirchberg, Luxemburg
Following the success of the third edition of the ALFI & PRiM Risk Management Conference in 2012,
which attracted more than 200 risk managers, conducting officers and experts from all over Europe and
beyond, ALFI & ALRiM are pleased to organise the fourth edition of this conference.
The 2013 conference will provide you with insights and information on latest developments in Risk
Management for both UCITS and Alternative Investment funds in the areas of risk governance, risk
measurement and management as well as risk reporting.
The morning session will be opened by a keynote speech, focusing on and exploring risk management,
regulation and investor protection. The following sessions will focus on risk governance requirements
and issues around risk measurement for UCITS. The sessions will cover amongst others the new
requirements for management companies and self-managed SICAVs, in particular through the ESMA
guidelines on ETFs and other UCITS issues (ESMA/2012/832), the CSSF Circular 12/546 and the
forthcoming Delegated Act supplementing the Alternative Investment Fund Manager Directive (AIFMD
Level 2) that was released on 19 December 2012.
The afternoon session will feature two case studies on UCITS as well as on AIFMD topics. The first
case study will explore key lessons from the financial crisis and other incidents over the past years and
their impact on the approach towards UCITS Risk Management. Before the second case study, an
overall overview on risk management within the alternative investment fund industry will be provided.
The second case study will outline an example on how a risk manager may set-up an adequate risk
governance and risk management system for an alternative investment fund.
The day will be concluded by the panel discussion “Experience gained from UCITS IV … paving the
way for risk management governing alternative funds” and followed by a Networking Cocktail
Reception.
Please find enclosed the conference programme and the registration form. We are offering our
members a special attendance fee starting at the early bird rate of €300 for payments made by 15
March 2013. The early bird non-member rate is €550.
We hope to have the pleasure of welcoming you to the conference where you can share experiences
and get up-to-date with the latest developments and techniques in risk management.
Yours sincerely,
Marc Saluzzi, Chairman, ALFI
Marco Zwick, President, ALRiM

programme – morning session
08.30-09.00 Registration & breakfast
09.00-09.10 Welcome
Jean-Christoph Arntz, ALFI Board Member
Marco Zwick President, ALRiM
09.10-09.15 Chairperson’s introduction
Olivier Carré, Partner, PwC Luxembourg
09.15-09.45 Risk Management, Regulation and Investor Protection
Prof. Dr. Lutz Johanning, WHU - Otto Beisheim School of Management, Vallendar, Germany
09.45-10.30 Risk Governance in a new UCITS and AIFMD world
• CSSF Circular 12/546 and forthcoming AIFMD
• ESMA Guidelines on ETFs and other UCITS issues
• Reporting
Moderator: Olivier Carré, Partner, PwC Luxembourg
Tracey McDermott, Director and Principal, Carne Global Financial Services Luxembourg S.à r.l.
Laurent Berliner, Partner, Enterprise Risk Services, Deloitte Luxembourg; Member of the Board
of Directors, ALRiM; Member of the Board of Directors, IIA Luxembourg
Prof. Dr. Lutz Johanning, WHU - Otto Beisheim School of Management, Vallendar, Germany
10.30-11.00 Coffee break
11.00-12.00 UCITS Risk Management Challenges
• ESMA (collateral)
• Counterparty Risk
• Leverage
• Liquidity
Moderator: Ravi Beegun, Partner, Audit, KPMG
Elisa Alonso Sanz, Chief Risk Officer, Nomura Bank, Luxembourg
Henning Schwabe, Partner, Arendt & Medernach
Alastair Woodward, Conducting Officer and Head of Risk Oversight Luxembourg, Aberdeen
Global Services S.A
12.00-13.30 Buffet lunch

programme – afternoon session
13.30 Chairperson’s introduction
Thomas Nummer, Member of the Board of Directors, ALRiM
13.30-14.30 Case studies: Risk Management for UCITS
•Lessons learned from crisis management planning – how thinking about worst-case scenarios can reduce
risk for UCITS funds.
•This presentation will show how the principles contained in reverse stress testing for financial institutions
can be applied to UCITS funds and will draw on practical examples on contingency planning for a potential
Eurozone crisis.
Ian Davies, Head of Risk, Europe, Schroder Investment Management
The stress test opportunity
Dr. Luc Neuberg, Head of Risk Management, BCEE Asset Management
14.30-15.00 Introduction to AIF Risk Management
Martin Parkes, Director, Government Affairs & Public Policy, BlackRock Investment
Management (UK) Limited, London
15.00-15.30 Coffee break
15.30-16.30 Performing Risk Management under the AIFMD - a practical case study in the RE space
Jennifer Trayner, Director Risk Management and Compliance, PRUPIM, London
Kai Braun, Executive Director, Ernst & Young
16.30-17.15 Experience gained from UCITS IV … paving the way for risk management governing
alternative funds
Moderator: Marco Zwick President, ALRiM
Alain Hoscheid, Conseiller de Direction 1ère classe, Commission de Surveillance du Secteur
Financier
Graham Goodhew, Director and Conducting Officer, JPMorgan Asset Management (Europe)
Thomas Nummer, Member of the Board of Directors, ALRiM
Martin Parkes, Director, Government Affairs & Public Policy, BlackRock Investment
Management (UK) Limited, London
17.15-17.30 Closing remarks
17.30-18.15 Networking cocktail reception