50% WITH IN
Auditing Asset
 Understanding The Key
 Internal Audit Issues That
 Exist Within Asset

 18th - 21...
Who Should Attend                                                                             Prerequisite                ...
Auditing Asset Management
Understanding The Key Internal Audit Issues That Exist Within Asset Management

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Auditing Asset Management


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Auditing Asset Management

  1. 1. SAVE UP TO 50% WITH IN HOUSE The International Leader in Audit and Information Security Training TRAINING Details inside 18th - 21st May 2009, London Auditing Asset Management NE W! Course Director Dennis Cox Understanding The Key Internal Audit Issues That Exist Within Asset Management A practical training programme Understanding the key issues relating to risk, control and to enable delegates to learn and understand the risks and the internal audit of asset management management techniques that used within asset management Understand the key risks within the asset management industry and the nature and how to audit them of the controls that are applied in practice including: • Front , middle and back Develop practical internal audit approaches to the management of the office roles business and for each asset class that can be applied directly to your institution • Controls over equity and fixed income investment Design a series of internal audit programmes to meet the demands of this • How to audit performance complex audit area measures • The risk associated with portfolio management MIS past delegates include... • How to audit counterparty credit risk ABN AMRO, Alliance & Leicester, Barclays, BT, Canon, Deutsche Bank, Goldman Sachs, HSBC, • The risk associated with other JP Morgan Chase, National Audit Office, Reuters, Vodafone, Sony, UBS non-traditional asset classes Media Partner: EARN 30 CPE CREDITS Web Email
  2. 2. Auditing Asset Management Understanding The Key Internal Audit Issues That Exist Within Asset Management 18th - 21st May 2009, LONDON Seminar Focus & Features Course Director Dennis Cox The asset management industry has been fast growing and Dennis was with HSBC Bank for 10 years where he held increasing in its complexity and variety. As at end September senior management roles including - Director, Risk 2008 the European fund management industry alone had some Management at HSBC Operational Risk Consultancy and also $4,000 bn of assets under management. The implementation of 7 years as Senior Audit Manager at HSBC in London. Basel II and the recent credit crisis have put the importance of Prior to that he was Global Risk Director at Prudential Portfolio control and management within the industry into an increasingly Managers Limited, with responsibility for credit, legal and strong focus. operational risk for the global business. Previously he spent Internal audit functions are required to address the key risks and 12 years in practice with Arthur Young and BDO Binder controls operating throughout an institution, including those Hamlyn. applying within the asset management industry. This course Among a range of external interests Dennis is a senior Council looks systematically at the application of control to the risks member of the ICAEW, Chairman of the Financial Planning applying within asset management and considers the approach Committee of the London Society and a member of the that internal auditors should adopt when conducting such an Money Laundering Committee; together with being the assignment. Chairman of the Risk Forum for the Securities and The objectives of this course are to enable attendees to Investments Institute. Dennis also specialises in providing appreciate the key issues that arise in practice when undertaking practical solutions to his clients’ needs. These include the internal audit of asset management; to ensure that the meeting the challenges of the Basel Accord in respect of internal auditors credit risk and operational risk, as well as other business and regulatory requirements. focus on the areas of greatest risk and that they develop practical solutions to the challenges that they face. Using a Dennis Cox delivers MIS Training Institute’s “Risk Based series of practical case studies the participants will develop key Auditing for Banks”, “Bank Internal Audit School” and also approaches that can be applied directly to their institutions. “Auditing the Credit Department”. Recent in-house audit training assignments include a programme for a major South African bank’s 150 internal auditors on Basel II Learning Objectives implementation. This course is designed to provide he course participants with Dennis is the author of the banking industry standard, Banking an understanding as to the key internal audit issues that exist and Finance: Accounts, Audit and Practise (Butterworths, within asset management. The programme will concentrate n 1993); joint author of The Mathematics of Banking & Finance the main asset types: equity (listed and unlisted), fixed income (Wiley Financial, March 2006) and senior editor and author of and property, whilst referring to other available asset several chapters of The Frontiers of Risk Management types By the end of the course delegate will have been built a (Euromoney Institutional Investors, May 2007). series of audit programmes suitable to enable them to audit an asset management operation and will have provided attendees with increased awareness of the key issues and controls that are applied in practice. © MIS Training 2009
  3. 3. Who Should Attend Prerequisite In-House Training This course specifically designed for employees who are required to Some knowledge of internal audit Save Up To 50% When You Run This conduct internal audit assignments with asset management techniques and banking course In-house terminology would be an In-house tailored training will enable Methodology advantage. you & your colleagues to make Combined classroom lecturing and practical workshop style learning significant savings as we charge per day & not per participant so the cost environment delivered more impacting results of knowledge retention Learning level remains the same regardless of how and application. This will be supplemented by case studies, exercises Intermediate many people attend. We can offer and role playing where appropriate any of our public courses or tailor them to your requirements. Training Fee is available in all areas of Internal EARN Audit, IT Audit, and IT Security GBP £2,495 30 CPE CREDITS If you have 6 or more colleagues who would be interested in one of our courses and you would like to Day One • Ratio analysis • The selection of the benchmark • The role of middle and back office • Asset diversification • Key risks and controls Case Study: Develop an audit programme make significant savings, contact us now; Session 1: The General Asset • Securities lending suitable for the audit of money markets • What are your training objectives? Management Control Environment Case Study: Develop an audit programme funds • Structure and roles in an asset suitable for the audit of quoted equity • How many people require the management firm investments Session 7: The risks in asset training? • Types of funds and ho this changes risk Case Study: Develop an audit programme location & Portfolio management • General introduction to investment asset suitable for the audit securities lending • Asset allocation and risk management • When would you like to run the types and associated risk • Use of historical data training? • Introduction to asset allocation and how • Client suitability this mitigates risk • Introduction to benchmarks and Day 3 • Risks and controls • Tactical asset allocation • What level of experience do you and your colleagues have? performance evaluation • Risks associated with Core and satellite Session 4: Quoted Fixed Income • Risk and controls • We will then email you a detailed • Identification of controls Investment Case Study: Develop an audit programme proposal which addresses your • Identification of risks and risk register • The risk associated with acquiring and suitable for the audit of asset allocation unique needs. • Introduction to process modelling disposing of fixed income securities • Introduction to key risk indicators and the and portfolio management • The use of ratings with pricing of fixed You will have complete control of the balanced scorecard income securities Session 8: The risks in training content and decide when it is • Introduction to transaction investigation • Risk and controls within the corporate procedures outsourcing and the selection and run. We guarantee that we will be fixed income processing management of third parties • What can go wrong in asset management • Risks associated with Government able to cater for all your business • The selection process • Introduction to control and risk self securities • The service level agreement and other needs. assessment • How to use sovereign risk ratings ratings contracting issues • Loss data and operational risk • The valuation of government securities Email Guy Cooper at • He testing phase Case Study: What information is of greatest importance to the internal • Risk and controls within sovereign bond • Key performance indicators processing • Risks and controls auditor? What should be requested or call Case Study: Develop an audit programme Case Study: Develop a audit programme in advance? Case Study: Develop a pre-audit planning suitable for the audit of quoted fixed suitable for the audit of outsourced +44 (0) 20 7779 8975 income investments relationships document suitable for an asset management audit Session 5: The risk management More Great Reasons to Choose our Session 9: Other Matters In-house Training: Session 2: Acquiring a client of alternative investments • Reporting to senior management • What are alternative investments - Escalation based reporting • Save money over public seminar • Controls over new clients - Structured products risks and returns - Risks and controls fees • Risks associated with client take on procedures • Hedge funds • Reporting performance • What information should be maintained to - What is a hedge fund - The client report • Save money on travel & demonstrate KYC? - Risks and controls - Standards of reporting accommodation • How can you keep this up to date? • Venture capital - Risks and controls • How can you audit the client agreement? - Valuation issues • Risk issues in pensions fund Management • Save time on travel as the • How should client suitability be - Risk and control - The role of the pension trustee instructor will travel to you. documented • Private equity/ angel finance - Asset & liability management in a Furthermore, the training can be • The moral vs actual risk dilemma - What is private equity? pension fund held at the most convenient time Case Study: Develop an audit programme - Risks and controls - Risk and controls for you. suitable to audit the acquisition process • The use of derivatives in asset • Credit risk and also for on- going review of existing management - OTC vs ETD - Counterparty credit risk • Tailor the course content; ensure relationships - Types of derivatives used in asset - Use of limits the relevance of the seminar for management - Central counterparties your colleagues. You can tailor the - Future - Risks and controls Day 2 - Options • Risks and controls associated with • Scenario Modelling - How to use scenario modelling in asset structure & methodology of your seminar or customise the seminar derivatives, including documentation, to meet the expertise levels of the Session 3: Quoted Equity management valuation and reporting issues participants. Investment Case Study: Develop an audit programme • Stress Testing and sensitivity Analysis • The risk associated with acquiring - How to use stress testing and sensitivity • Bring the best in the business; suitable for the audit of alternative securities analysis in asset management Instructors are hands-on, expert investments • The risks associated with managing Case Study: Discuss how to audit stress practitioners who are your subject securities testing and scenario analysis matter consultants when they are • Risk associated with corporate actions • Pricing of quoted equity investment Day 4 Case Study: Develop an audit programme suitable for the audit of counterparty credit not training. • Risks associated with international equity analysis Session 6: Money Market Funds • Gain CPE points & certificates for markets Case Study: Develop an audit programme • What is tracking error • Role in asset management the number of training hours. suitable for the audit of the reporting of • Controls over equity valuation techniques • Asset and liability management asset management • Financial statement analysis • Portfolio Liquidity Course end
  4. 4. Auditing Asset Management Understanding The Key Internal Audit Issues That Exist Within Asset Management Key topic areas • Understanding the key issues relating to risk, control and the internal audit of asset management • Understand the key risks within the asset management industry and the nature of the controls that are applied in practice • Develop practical internal audit approaches to the management of the business and for each asset class that can be applied directly to your institution • Design a series of internal audit programmes to meet the demands of this complex audit area Why should you attend? • MIS Training is the global leader in audit training, having trained over 200,000 delegates • Instructors/Speakers are the most reputable in the industry • Gain CPE points towards your professional certification When registering for this course please quote WEB 18th - 21st May 2009, London PLEASE SEND ME INFORMATION ABOUT RUNNING THIS COURSE IN-HOUSE Auditing Asset Management 5 easy ways to register (please photocopy form for additional delegates) Tel: +44 (0)20 7779 8944 18th - 21st May 2009, London (MT030514) Fax completed form to: +44 (0)20 7779 8293 GBP £2,495 £ *Discounts: Please call to enquire Email: Web: + VAT @ 15% £ about corporate discounts. Post completed form to: Carlos Doughty, MIS Training, Nestor House, Discounts can not be used in Playhouse Yard, London EC4V 5EX UK Grand Total £ conjunction with each other. Customer Information Title First name Surname Title/Position Organisation E-Mail Address (Required) Payment Information You can pay by debit/credit card online at or call Address +44 (0)20 7779 8944 Country Postcode Cheque enclosed (payable to MIS Training) Telephone Fax Please invoice my company PO# VAT Number (If you have one) Please note that in completing this booking you undertake to adhere to the The information you provide will be safeguarded by the Euromoney Institutional Investor PLC group whose subsidiaries may use it to keep you informed of relevant products and services. cancellation and payment terms listed below We occasionally allow reputable companies outside the Euromoney Institutional Investor PLC Signature Date group to contact you with details of products that may be of interest to you. As an international group we may transfer your data on a global basis for the purposes indicated above. If you Approving Manager Position object to contact by telephone fax or email please tick the relevant box. If you do not want us to share your information with other reputable companies please tick this box Please send me information on In House Training Registration Information (fees must be paid in advance of the event) Cancellation Policy: Accommodation: Please ensure you have read this carefully before submitting your registration] MIS Training MIS Training Institute is proud to announce its new and improved course venue provider; operates a 20 working day cancellation policy. Any cancellations received after 20 days or any Guoman Hotels. 2009 London courses will be held in one of the groups 4 Star + hotels in delegate that does not attend will be subject to full payment. central London (zone 1) You may transfer to another course/conference for a transfer fee of 25% of the initial booking fee VAT: plus the difference between the value of the course/conference you are transferred to. This will All delegates attending are liable to pay VAT. After the event organisations registered for VAT in be invoiced or refunded. Please note that the replacement course/conference must take place the UK may reclaim the tax. Delegates from outside the UK but within the European Community within 6 months of the initial application. may also be able to reclaim the VAT. Organisations outside the UK should check with their excise Alternatively you may send another colleague to the initial booked course/conference without authority as to which domestic fiscal regulations apply. High Yield/No-Risk incurring any additional fees.A full refund less an administration fee of £100 will be given for cancellation requests received up to 20 working days before the event. Cancellations must be made in writing and reach the MIS office before the 20 working days deadline. EARN 30 CPE CREDITS Web Email