If you are interested & require further information, we will email you a copy of the programme brochure.
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 firstA short programme which includes a focus on the Liquidity Risk Management in Investment Funds.
When is this masterclass?
Online classes will be delivered from 8.30am-10.30am over three morning as follows:
Tuesday 28th June 2022
Wednesday 29th June 2022
Thursday 30th June 2022
You can sign up for free trial membership and experience the benefits of membership for a limited time.
Click here to join us.
IOB is delighted to introduce the Liquidity Risk Management in Investment funds masterclass.
View the Liquidity Risk Management in Investment Funds 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 continues to be under the microscope of EU and international regulatory authorities including in light of the COVID-19 related 'March Turmoil' and the impact arising from the Russian invasion of Ukraine.
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.
The masterclass will be particularly relevant to directors, senior managers, designated persons and other staff within fund management companies (i.e. UCITS ManCos and AIFMs), directors and designated persons of self-managed funds and all other industry professionals within fund service providers.
6 hours in total to complete the masterclass. Delivery is entirely online.
€260
If you are new to IOB , please click here to join us and sign up for Free Trial Membership. IOB members can click on the 'Enrol now' button.
3 CPD hours are awarded to each of the following designations.
AFP
Chartered Banker
Professional Banker
4 CPD hours are awarded to each of the following designations.
CIFD
FCI (Compliance)
LCI
For more information please contact [email protected]
Select a day for more information on the curriculum on that day:
Introduction to Liquidity Risk Management
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 of the broader set of investment risks
How it is applied differently in different fund types
How it is applied differently in different fund types
Regulatory Landscape
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)
Liquidity Risk Management - an Irish Industry view
Irish Funds' LRM Framework - 18 months on, a review of implementation and lessons learned
Liquidity risk through the funds lifecycle, including tailoring processes and tools to fund characteristics
An industry's experience through a stressed environment
Liquidity - a competitive landscape
Liquidity Risk Governance Framework
What is a 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
Liquidity Risk Management - an ESMA perspective
Regulatory landscape and areas under particular scrutiny
Supervisory convergence - current activities
General outlook - 2022 and beyond
Liquidity Risk Management in Practice – an Asset Manager’s perspective
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”
Liquidity dynamics - always evolving
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