Impact of SEC Regulation on Day-to-Day Asset Management Operations
Date, Time, and Location:
Wednesday, June 20, 2018 (add this event to your Outlook Calendar)
4:00 pm - 6:00 pm
Northern Trust, 50 S. LaSalle Street, (Global Conference Center, 1st floor), Chicago, IL 60603 (Driving Directions)
Complying with regulatory requirements can have impacts far beyond accounting and reporting. At this event, attendees will get an overview of new SEC regulation coming into effect in 2018-2019 and learn how these new regulations will impact day-to-day operations. Attendees will also have the opportunity to ask questions during an open panel discussion. If you want to be prepared for the SEC’s new liquidity management rules (rule 22e.4), or mutual fund modernization requirements (monthly reporting form N-PORT), attend this presentation and panel discussion.
- Greater understanding of SEC rules, regulations, and requirements meant to take effect in 2018 and 2019
- Insight from leaders in organizational design on ways these regulations may affect their operations
- Strategies to adapt day-to-day processes to comply best with new regulation, either by outsourcing or creating new compliance capabilities
- Answers to additional questions they may have regarding upcoming SEC regulation
Erik Olsen - Director, ACA Compliance Group
Michelle Beck - Chief Risk Officer, Nuveen
Laszlo Hollo - Risk Management Research, MSCI
Nicholas Vagra - Deputy COO, UBS Global Asset Management
Members - $45 or FREE with Function Ticket
Student Members - $10
Nonmembers - $65
(member pricing underwritten by CFA Society Chicago)
*Limited sponsorships available, contact Kim Augustyn at email@example.com
CFA Institute Qualified Activity: Eligible for 1.5 credit hours
Attire: Business Casual
Menu: Refreshments and Hors d'oeuvres
4:00 pm - 4:30 pm: Registration & Networking
4:30 pm - 6:00 pm: Program and Audience Q&A
Hosted by: Education Advisory Group
Michelle Beck is the Chief Risk Officer of Nuveen, the asset management arm of TIAA. Her responsibilities include investment risk management, operational risk management, and valuation.
Before joining Nuveen in 2010, she served as Chief Risk Officer at Russell Investments. From 2003 to 2009 she was the Chief Market and Operational Risk Officer at Washington Mutual Bank. She began her career in 1986 at Bankers Trust which was acquired in 1999 by Deutsche Bank. At Bankers Trust, Beck marketed and traded interest rate, equity and currency derivatives. From 1991-95, she headed the market risk function for Bankers Trust’s European offices in London, then headed the risk function for the bank’s investment management division in New York. From 1996 to 2003 she provided market risk software and measurement for the bank’s customers, including asset managers, hedge funds and pension funds.
Beck holds a bachelor’s degree from the University of Washington and a master’s degree in Government from Harvard University. She is a trustee of the Global Association of Risk Professionals (“GARP”) and heads Chicago’s GARP chapter. She is a member of GARP’s Buy Side Risk Managers Forum, and the Investment Company Institute’s Risk Management Committee and Derivatives Advisory Committee. In addition, she chairs the Chicago chapter of 100 Women in Finance. Beck’s publications include Measuring and Managing Market Risk, co-authored with Don Chance, Ph.D., published by the CFA Institute as a CFA Level II reading in 2016, and Utilizing Downside Risk Measures, CFA Institute Conference Proceedings, Third Quarter 2014.
Laszlo Hollo is part of MSCI's Risk Management Research team based in Budapest. The focus of his research is liquidity-related regulation and transaction cost modelling.
Hollo joined MSCI’s pricing research team in 2016 and transferred to liquidity research in 2017, slightly after the publication of the SEC’s final rules on the Investment Company Liquidity Risk Management Program.
Prior to joining MSCI, Hollo was a junior researcher at Ecole Normale Surepieure de Paris and the Wigner Research Institute of the Hungarian Academy of Sciences. Hollo holds a master’s degree in physics. In 2016, he completed his PhD in Theoretical Physics, summa cum laude.
Erik Olsen is a director at ACA Compliance Group. Olsen focuses on the mutual fund industry, providing ongoing and customized regulatory compliance consulting and compliance program review services to registered investment companies, their investment advisers and sub-advisers, and other service providers. Erik joined ACA in 2012 as a Senior Principal Consultant. Prior to joining ACA, he was a compliance director at Legg Mason. In that role, he headed the firm’s Global Compliance Examinations team, overseeing compliance program and risk control reviews of Legg Mason’s worldwide investment advisory affiliates and distribution units.
Before Legg Mason, Olsen served as a securities compliance examiner in the U.S. Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (Investment Adviser/Investment Company) where he conducted regulatory examinations of registered investment advisers and registered investment companies. At the SEC, Olsen helped launch the CCO Outreach Program. In 2005, he received the Chairman’s Award of Excellence.
Prior to the SEC, Olsen worked in the Mutual Funds Legal and Accounting Departments of Deutsche Asset Management. Erik led the Domestic Equities fund accounting team, responsible for the daily accounting and processing of mutual fund net asset values, and the semi-annual creation of fund financial statements. He also served in the Legal Department where he reviewed and drafted registration documents and participated in boards of directors meetings. Olsen is a Certified Fraud Examiner. He earned his Bachelor of Business Administration degree in finance from Loyola College (now Loyola University Maryland).
Nicholas Vagra is deputy chief operating officer for UBS Asset Management. He is responsible for Asset Management's Global Product Control & Logistics function for the division. In this capacity, he oversees Alternatives Product Control and Logistics, Registered Fund Product Control, IT & Operations Governance and Demand Management, Investment Guideline Monitoring, Investment Performance Measurement, Platform Transformation/ Development, and the Data Office.
Vagra, who has more than 25 years’ experience in the financial industry, joined UBS in 1991 and has held various roles in New York, London and Chicago. From 2001 to date he has been the Head of Business Management for Asset Management's alternatives business/single hedge fund capability. From 1997 until 2001, he was the senior business manager for UBS Investment Bank's US Equity with responsibility for managing the equity's business balance sheet, financing and tax exposures. He also served as treasurer for SBC Warburg Inc., the firm's registered US broker/dealer. From 1993 to 1996, he was in the Credit/Market Risk Control area of the then Swiss Bank Corporation, covering hedge funds and from 1991 to 1993 he was as an Analyst in the commodity trade finance area. He received a BBA from Pace University and his MBA from Fordham University.
*Special Notes Regarding Fees:
Regular, Candidate, and Affiliate Members may apply function tickets as payment for Non-member or Student-Member. Credit card required to guarantee ALL reservations except for reservations using Function Tickets. Day-of-event registrations accepted on-site only if applicable and space available. There is a $5 surcharge for walk-ins. Visa, MasterCard, American Express, Discover and Diners Club are accepted. Cancellations accepted until 5:00 pm, June 14th.
This is a "Passport Program." Members of any CFA society may attend at the CFA Society Chicago member rate. If you are only a member of CFA Institute, you do not qualify for the society member rate.
CFA Institute CE Qualified Activity This program qualifies for credit under the guidelines for the CFA Institute Professional Development Program.
Content shared during CFA Society Chicago programs is not, and nothing in it should be construed as, an offer, invitation or recommendation of any specific financial services company or professional, or an offer, invitation or recommendation to sell, or a solicitation of an offer to buy, any securities in any jurisdiction. By registering for and attending this event, you acknowledge that any photographs that may be taken are the property of CFA Society Chicago and give your consent to their use in CFA Society Chicago's online and print business communications and marketing.