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Data Protection Notice

About this data protection notice

This is a statement of the practices of The Institute of Bankers in Ireland, 1 North Wall Quay, North Dock, Dublin 1 (trading as IOB) (‘the Institute’, ‘we’, ‘us’, ‘our’) in connection with the capture of personal data on this webform and the steps taken by the Institute to respect your privacy.

The Institute is a Data Controller and is committed to protecting your rights and any personal information which you provide to the Institute will be treated with the highest standards of security and confidentiality, in accordance with Irish and European Data Protection legislation.

The privacy notice explains the following:
  • What information do we collect about you?
  • The purpose for collecting your personal data
  • The legal bases for collecting your personal data
  • Are you required to provide the information?
  • How we store and secure personal data?
  • Details of third parties with whom we share personal data
  • What are your rights?
What information do we collect about you?

The data we collect from you will be used by the Institute only in accordance with the purposes outlined in this privacy notice. We will collect your data via webform on www.iob.ie.

The data collected in this webform will be shared with the following areas of the Institute:

  • Programme Management Department
  • Marketing Department
  • Lifelong Learning Department
The purpose for collecting your data

The data we collect about you will be used for:

  • providing information on the programme(s) for which you have completed an expression of interest webform;
  • notifying you of promotional events related to this designation(s) or programme(s) e.g. Programme Taster Lectures, IOB Open Evening; and
  • advising you of upcoming application and registration closing dates for this designation(s) or programme(s)
The legal basis for collecting your data

For the purposes outlined in this privacy notice your personal data will be processed on the basis of Explicit Consent.

By submitting this webform, you confirm that you are providing your informed consent to the processing of your data as outlined here.

Are you required to provide the information?

We require you to complete the mandatory fields identified in this webform for the purposes outlined above. If you do not provide us with the information required in these fields, we may be unable to process this Expression of Interest form.

How we store and secure your data

Any data we collect from you will be stored confidentially and securely. The Institute is committed to ensuring all accesses to, uses of, and processing of Institute data is performed in a secure manner.

In keeping with the data protection principles, we will only store your data for as long as is necessary to provide our services to you and for such a period of time after this as is necessary to comply with our obligations under applicable law and, if relevant, to deal with any claim or dispute that may arise in connection with our relationship with you.

For the purposes described here we will store your data for one calendar year from the date you submit the webform. Before the end of this calendar year, we may contact you to ask if you wish to re-confirm your consent to the storing and processing of your data for the purposes outlined above.

When we store your personal data on our systems the data will be stored on the Institute’s secure I.T. platforms within the EEA which are also subject to European data protection requirements.

Details of third parties with whom we share personal data

The Institute will share your data with third parties where necessary for purposes of the processing outlined here.

We will share your information with our service providers (e.g. printers, I.T. support, auditors, legal advisors, and other professional advisors).

We may also disclose your information where required by law to do so.

Your information will not be shared with any other third parties.

When we share your data with the third parties outlined here the Institute will ensure that the data is only processed according to our specific instructions and that the same standards of confidentiality and security are maintained. Once the processing of the data is complete any third parties with whom data was shared will be required to return the data to the Institute save where they are required to retain it by law.

What are your rights?

You have the following rights, in certain circumstances and subject to applicable exemptions:

  • You are entitled to ask for a copy of the personal data, which IOB holds about you.
  • The right to have any inaccuracies in your personal data amended.
  • The right to object to the processing of your personal data.
  • The right to have the personal data that we hold about you erased.
  • The right to restrict the processing of your personal data.
  • The right to receive your personal data, which you provided to us, in a structured, commonly used and machine-readable format or to require us to transmit that data to another controller.
  • You have the right to withdraw your consent at any time.
Contact

If you have any queries relating to the processing of your personal data for the purposes outlined above or you wish to make a request in relation to your rights, you can contact the Institute’s Data Protection Officer using the contact details below.

If you are unhappy with the way in which your personal data has been processed, you may in the first instance contact the Institute’s Data Protection Officer using the contact details below.

IOB has a Data Protection Officer who can be contacted through [email protected] or by writing to:

The Data Protection Officer, IOB, IFSC, 1 North Wall Quay, Dublin 1.

If you remain dissatisfied then you have the right to apply directly to the Data Protection Commission for a decision. The Data Protection Commission can be contacted at:

Data Protection Commission
Canal House
Station Road
Portarlington
R32 AP23 Co. Laois
www.dataprotection.ie

The Institute of Bankers in Ireland (a company limited by guarantee) trading as IOB

Registered Number: 197171
Registered Charitable Organisation
Charity Registration Number: 20026950
CHY Number: 10530

P: +353 (0)1 6116500
F: +353 (0)1 6116565
E: [email protected]

Privacy Statement
Terms and conditions

Day 1 8th December

Day 2 9th December

Day 3 10th December


For more information see the LRM Masterclass Brochure

Before you continue...

As you are not registered with us, you will need to upload proof you can enrol to this programme.

I know, let’s sign upI have an account, let me sign in first

Masterclass on three consecutive mornings from 8.30 - 10.30am


Day 1 8th December

Day 2 9th December

Day 3 10th December


For more information see the LRM Masterclass Brochure

< Go to all programmes

Liquidity Risk Management in Investment Funds (Masterclass)

Funds and IFS
Masterclass on three consecutive mornings from 8.30 - 10.30am
+

Please note you must become an IOB member before enrolling on this masterclass.

Click here to join us.


About the masterclass

IOB is delighted to introduce the Liquidity Risk Management in Investment Funds masterclass.

View the masterclass brochure.

Many open-ended investment funds provide daily liquidity to their investors. Managing the fund portfolio in order to ensure that a fund is able to satisfy investor redemption requests is a fundamental obligation of fund managers. However managing fund liquidity is important for any open-ended fund, irrespective of the redemption frequency and it is equally important for all funds, both open and closed, in order to ensure that they can meet other types of liquidity related obligations, including margin calls or creditor demands of whatever nature.

Liquidity risk management has been under the microscope of global regulatory authorities for some time and this continues to be the case, particularly in light of recent events arising from the impact of COVID-19 on financial markets.

The masterclass is designed to provide participants with:

• An understanding of liquidity risk and liquidity risk management in the context of investment funds;

• An understanding of the regulatory framework and issues considered by macro-prudential authorities;

• A practical insight into the operation of a liquidity risk management system and challenges encountered.

Who should attend

The masterclass will be particularly relevant to directors, senior managers and staff within fund management companies (i.e. UCITS ManCOs and AIFMs), directors of self-managed funds and all other industry professionals within fund service providers.

Delivery

The programme is delivered on the mornings of 8th, 9th, 10th December 2020, from 8.30 to 10.30am. The masterclass is a live event delivered via Zoom.

Fee

  • €210 for IOB members

  • €250 for non-members

CPD

  • Accredited Funds Professional - 4 hours

  • Chartered Banker - 3 hours

  • CIFD - 4 hours

  • FCOI - 4 hours

  • LCOI - 4 hours

  • Professional Banker - 3 hours


Speakers

Alastair Sewell

Alastair Sewell CFA - Head of Fund and Asset Manager Ratings for EMEA and Asia-Pacific at Fitch Ratings

Alastair Sewell is head of fund and asset manager ratings for EMEA and Asia-Pacific at Fitch Ratings. He has been in this role since 2017, having previously held roles with increasing levels of responsibility in the fund and asset manager rating group since 2008. In this role he has overall responsibility for all ratings and research on funds and investment managers in these regions. Alastair’s coverage includes all areas of investment management, with specialisms in money market funds and liquidity risk.

Prior to his current role, Alastair was an analyst in Fitch’s structured finance division, responsible for rating collateralized debt obligations and similar vehicles. Alastair joined Fitch in 2004. Prior to Fitch he began his career at a UK local authority.

Alastair earned an MBA with distinction from the University of Bath and a BSc from the University of Bristol. He is a CFA charterholder. Alastair is based in London.


Antonio 1

Antonio Barattelli - Team Leader for Investment Management within the Investors and Issuers Department

Antonio Barattelli joined ESMA in August 2011 and he's Team Leader for Investment Management within the Investors and Issuers Department. Since May 2018 Antonio leads the work of the Investment Management team dealing with the EU legislation and asset management (including the UCITS Directive, AIFMD and MMF Regulation), while previously he worked in the team with focus on various topics, including remuneration and depositary-related matters.

Prior to joining ESMA, Antonio was a senior associate at a major law firm in Luxembourg where he advised a wide range of international clients on setting up investment funds. He qualified as a lawyer in Italy and was registered as an EU foreign lawyer in Luxembourg.

Antonio holds a law degree from the University of Padua, a master degree (DESS) in European Litigation from the University of Luxembourg and the University of Strasbourg "R. Schuman" as well as a Postgraduate Diploma in EU Competition Law from the King's College (London).


Conor Kilroy

Conor Kilroy - Regulatory Affairs Manager at Irish Funds

Conor Kilroy is a Regulatory Affairs Manager at Irish Funds. Since joining in September 2019, Conor has been working closely with a number of asset management working groups with liquidity being a particular focus for the Investment Risk working group.

Prior to joining Irish Funds, Conor worked as Head of Investment Servicing for DMS Governance within their MiFID entity. Previous to this role he also worked within the DMS risk team. Conor began his career in fund administration working across multiple fund types in both the mutual and hedge fund space.

Conor is FRM certified by the Global Association of Risk Professionals and a member of the EFAMA Management Company Regulation and Services standing committee.


Eoin FitzGerald

Eoin FitzGerald - Managing Director and Country Head of Brown Brothers Harriman in Ireland

Eoin FitzGerald is a Managing Director and Country Head for Brown Brothers Harriman in Ireland. Eoin has over 30 years of financial services experience having previously served as a Managing Director at Morgan Stanley and as a Director of AIB/BNY Fund Services (Ireland) Limited (now BNY Mellon Fund Services (Ireland) Limited).

Eoin is a member of the Consultative Working Group at the Investment Management Steering Committee of the European Securities and Markets Authority (ESMA). He is also a member of the Council of Irish Funds and of the IFSC Funds group.

Eoin is a director of Brown Brothers Harriman Trustee Services (Ireland) Limited, Brown Brothers Harriman Trustee Services (Hong Kong) Limited and Brown Brothers Harriman Institutional Trust Company of New York, LLC. He also serves on the board of the funds industry charity, Basis Point.

Eoin is a graduate of University College Dublin.


Martina Kelly

Martina Kelly - Director of Funds at IOB

Martina Kelly is Director of Funds at IOB having joined in January 2020. Prior to that she was Head of Markets Policy Division within the Central Bank of Ireland with responsibility for the formulation of policy in relation to investment funds, investment firms, markets and market infrastructure.

Martina has considerable experience in investment funds policy and regulation having led the Central Bank's work in this area for many years. In that capacity she was directly involved with the development of the Irish regulatory regime applicable to funds and fund service providers.


Patricia Dunne

Patricia Dunne - Head of Securities Markets Supervision Division in the Central Bank of Ireland (Central Bank)

Patricia Dunne is Head of Securities Markets Supervision Division in the Central Bank of Ireland (Central Bank). This division is responsible for the supervision of securities markets including market transparency, market integrity and market abuse and the authorisation and supervision of Irish authorised investment funds.

Patricia has held various roles within the Central Bank including the authorisation, supervision and policy of investment firms and investment funds. She has also been directly involved in the development and implementation of the Central Bank's risk based approach to supervision (The Probability Risk and Impact System - PRISM). Patricia has also worked extensively with the European Securities Markets Authority (ESMA) in the development of the European regulatory and policy framework for Investment funds and their service providers.


Robin Creswell 2

Robin Creswell - Managing Director at Payden and Rygel

Robin Creswell is a Managing Director at Payden and Rygel and is a member of the firm's board of directors. He is responsible for the firm's London office; Payden & Rygel Global Ltd.

Creswell's 38-year career in the financial industry began in banking. He was then a leading figure in the development of the global hedge fund and derivatives industry in the 1990s. He was responsible for launching the first publicly offered hedge funds in a number of jurisdictions, including Japan, Australia and Hong Kong.

Prior to joining Payden & Rygel, Creswell was responsible for global distribution at ED&F Man. Subsequently he established the fund management company, Greystone International Ltd., for Chicago-based futures broker Gelderman, Inc. later acquired by the Man Group.

Robin Creswell was a Trustee of the Charities Aid Foundation until 2018 where he chaired the Investment Advisory Committee and is also a Trustee of a number of other non-profit organisations. He is a Fellow of the Securities & Investment Institute and a member of the CFA Society of the UK.


Entry requirements

To enrol to this masterclass you must be a current member of IOB, or become a member.

Select a day for more information on the curriculum on that day:

Day 1: Tuesday 8th December 2020

8.30am to 8.35am Welcome - Kevin Gallen, Deputy Chief Executive, IOB


8.35 to 9.00am Introduction to Liquidity Risk Management - Eoin FitzGerald

  • What is liquidity risk management (LRM)

  • What is LRM in the context of investment funds and how it differs from the sell side liquidity risk

  • How it is part if the broader set of investment risks

  • How it is applied differently in different fund types


9.00 to 9.35am Regulatory Landscape - Martina Kelly

  • What rules and guidance apply - UCITS, AIFMD, IOSCO Principles and Good Practices; ESMA LST Guidelines

  • Overview of the macroprudential focus on the potential for liquidity problems in funds leading to a systemic impact

  • G20 mandate in 2011; FSB focus on NBNI GSIFIs - 2017 recommendations

  • IOSCO approach

  • ESRB recommendations

  • Views of other authorities (ECB, Bank of England, AMF)

  • Where regulation might head next (results from ESMA CSA and IOSCO review of implementation of IOSCO principles)


9.35 to 10.00am Fund Governance: Liquidity Risk Management Framework - Conor Kilroy

The Irish Funds View

  • Liquidity challenges

  • Liquidity risk through the funds lifecycle

  • Liquidity planning and strategy

  • Liquidity risk identification, assessment, monitoring and controls

  • Liquidity stress testing methodology

  • Liquidity crisis management

  • Communication and escalation


10.00 to 10.15am Question time

Day 2: Wednesday 9th December 2020

8.30 to 8.40am Welcome back - Recap Day 1 - Eoin FitzGerald

8.40 to 9.10am Liquidity Risk Governance Framework - Patricia Dunne

  • What is liquidity management framework:

  • Process

  • Product design; stress test, launch, monitoring, application of liquidity management tools (LMT)

  • Governance

  • Roles and responsibilities - 1st, 2nd, 3rd lines; Board, Liquidity Committee, Product Committee, Risk Committee

  • Liquidity limits and escalation of breaches

  • Application of LMTs and governance around their use

9.10 to 9.30am Liquidity Risk Assessment and Identification - Alastair Sewell

  • Asset side liquidity

  • Liability side liquidity

  • Combined asset and liability risk metrics and LST scenarios

  • Peculiarities of closed end funds

  • Peculiarities of ETFs

9.35 to 10.15 am Liquidity Contingency Planning and Crisis Management - Alastair Sewell and Patricia Dunne

  • Genesis of a liquidity crisis

  • Great financial crisis

  • Contagion across financial sectors

  • COVID 19 and how this is playing

  • Equity markets

  • Fixed income markets

  • Role of Central Banks

10.15 to 10.30am Question time

Day 3: Thursday 10th December 2020

8.30 to 8.40am Welcome back - Recap Day 1 and 2 - Eoin FitzGerald

8.40 to 10.00am Liquidity Risk Management in Practice - an Asset Manager's perspective - Robin Creswell

  • Maintaining trust in the liquidity of UCITS and open ended funds - matching fund assets to fund liabilities - a collective obligation of the industry

  • Challenges and Suitability - Asset Class Liquidity - Structural Liquidity Distinctions - Real Estate, Equities, Fixed Income

  • Structural failures in fund portfolios - a case study in shareholder illiquidity

  • UCITS Liquidity Policies in practice and Stress Testing

  • What does 'worst case' mean and can we manage to that end? Or manage to the data?

  • Managing flows through a Liquidity Event - 'shareholders versus subscriptions and redemptions'

10.00 to 10.20am Liquidity Risk Management - an ESMA perspective - Antonio Barattelli

  • Regulatory landscape and areas under particular scrutiny

  • Supervisory convergence - current activities

  • General outlook - 2021 and beyond

10.20 to 10.30am Question time and closing remarks - Eoin FitzGerald