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The World Bank Group Controller and KPMG Annual Finance and Accounting Conference
May 20, 2015Preston Auditorium, World Bank, Washington DC

This one-day workshop, which runs from 8:30 am to 5:00 pm, brings together leading experts from KPMG for an in-depth discussion on current accounting and finance issues facing the Banking industry. NOTE: This event is currently only open to World Bank Group, IMF, IADB, and other Multilateral Development Bank (MDB) staff.

Jointly sponsored by the WBG Controller and KPMG, this one-day conference brings together leading experts from KPMG for an in-depth discussion on current accounting and finance issues facing the Banking industry. The conference will also feature interactive Q&A sessions during the day with the speakers and panels. 

There will be an in-depth discussion on new US GAAP and IFRS accounting pronouncements as well as a discussion on the International Integrated Reporting Framework. Other topics for discussion include new Banking regulations that are being enacted by Dodd-Frank and BASEL III.  

As in previous years, the conference attracts finance and accounting professionals across the World Bank Group, as well as the International Monetary Fund and the Inter-American Development Bank. This conference qualifies for Continuing Professional Education (CPE) credits.

Meeting materials will be available one week before the start of the event under the appropriate tab above.

Lunch and refreshments will be provided.


The World Bank Group Controller and KPMG
Annual Finance and Accounting Conference

Agenda

Preston Auditorium
Wednesday, May 20, 2015

TOPIC

FACILITATOR

TIME

Registration/Breakfast

---

8:30 - 9:00

Welcome/Introductions

Pam O'Connell, Director and
World Bank Group Chief Accountant

9:00 - 9:10

Logistics for the Day Simon Fowler, World Bank Group 9:10 - 9:20

Current Financial Market Update/Trends

Brian Stephens and Dave Reavy, KPMG

9:20 - 10:15

Break/Refreshments

---

10:15 - 10:30

Public Policy Developments

Priya Dayananda, KPMG

10:30 - 11:15

Regulatory Update / Other Developments

Hugh Kelly, KPMG

11:15 - 12:00

Lunch

 

12:00 - 1:15

Valuation Adjustments and Finance Products

Leon Yang and Anthony Lieu, KPMG

1:15 - 2:30

SEC Matters
FASB Update

  • Financial Instruments Project
    • Classification and Measurement
    • Impairment
    • Hedging
  • Agent vs. Principal Guidance for VIE Consolidation

Mike Hall, KPMG
Mark Northan, KPMG

 

2:30 - 3:00

Break/Refreshments --- 3:00 - 3:15

FASB Update (continued)

  • Insurance Contracts
  • Transfers and Servicing: Repurchase Agreements and
    Similar Transactions (ASU 2014-11)
  • Disclosure and Conceptual Frameworks
  • Other

Mike Hall, KPMG
Mark Northan, KPMG

3:15 - 4:00

IFRS and FASB Convergence

  • Recent Developments
  • Revenue Recognition (ASC 605)
  • Lease Accounting (ED)
Paul Munter, KPMG 4:00 - 4:45

Closing Remarks

Zinga Venner, Manager,
Corporate Reporting and Analysis

4:45 - 5:00



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    PRIYA DAYANANDA

    Director, Federal Government Affairs
    Priya Dayananda has been the Director of Federal Government Affairs since May 2006. The Office of Government Affairs is responsible for representing KPMG’s interests in all matters of public policy before the Federal and state governments and for assisting non-U.S. practices in achieving their government affairs goals. Ms. Dayananda advances the U.S. firm’s public policy agenda by communicating the firm’s priorities and positions to the Administration, Members of Congress, and Regulators.
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    PAUL MUNTER, PHD, CPA

    Partner, Department of Professional Practice - Audit & Advisory
    Paul serves as the lead technical partner for the US firm’s international accounting and IFRS activities and also serves on KPMG’s Global IFRS Panel which is responsible for establishing KPMG positions on the application of IFRS. He also is involved in the development of firm positions in response to proposals from the IASB, IFRIC, FASB, SEC and other standard setters as well as the development of the firm’s guidance and publications including Comparison of IFRS to US GAAP and First Impressions: Business Combinations (joint IASB/FASB project).
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    BRIAN B. STEPHENS

    Partner; National Sector Leader, Banking & Capital Markets
    Brian has spent his career in the audit practice of KPMG. He joined KPMG in Johannesburg, South Africa in 1979, qualifying as a Chartered Accountant (S.A.) In 1987 Brian was admitted to the South African partnership at which time he assumed responsibility for that firm’s national technical office. In 1989 Brian transferred to the United States, joining the New York banking practice. He was admitted to the U.S. partnership in 1993.
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    ANTHONY LIEU

    Director, FRM Market Risk
    Anthony Lieu is a Director in the market risk section of KPMG LLP's Financial Risk Management practice. He has extensive experience in model validation, as well as valuing financial instruments and knowledge of various models for firms in the financial services industry as well as any other companies that are exposed to valuation and model risk.
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    LEON L. YANG

    Managing Director
    Leon has over 20 years of experience in mathematical finance and risk management in global capital markets and investment banking. He has extensive market, product, and modeling knowledge across interest rate, credit, structured products, FX, commodities, and equity. He has managed model risk management, model validation, and financial valuation engagements. At KPMG, Leon co-leads financial instrument valuation and model services for the firm’s market risk management practice.
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    MICHAEL H. HALL

    Partner
    Michael is a partner in KPMG’s Department of Professional Practice in New York. Prior to this he led KPMG’s OnCall Technical Accounting Advisory Services. Michael spent ten years providing Financial Statement Audits in KPMG’s Northeast Financial Services practice focusing on banks and mortgage banks. Michael has over 25 years of experience in accounting, financial reporting and auditing with KPMG.
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    HUGH KELLY

    Principal, Lead U.S. Partner for Bank Regulatory Advisory Services
    Hugh has more than 30 years of financial services regulatory and advisory experience, including 6 years as KPMG U.S.'s Lead National partner for Bank Regulatory Advisory Services and 26 years with the U.S. Office of the Comptroller of the Currency (OCC) as a Senior Advisor for Global Banking, Global Banking Division Head, and examiner-in-charge of large banking institutions. He is a frequent speaker and instructor on regulatory compliance, Basel II, ERM, internal audit, operational risk, and technology risk management issues at industry and regulatory conferences.
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    DAVID REAVY

    Lead Partner
    David is an audit partner with 25 years of experience in KPMG’s US Banking and Capital Markets practice. David is also a frequent public speaker and leads many of the firm’s industry and technical trainings for our senior financial services professionals. In addition, he speaks frequently at client and industry seminars on current accounting, reporting, industry and auditing matters.
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    MARK A. NORTHAN

    Partner, Audit Quality and Professional Practice Group
    Mark is a partner in KPMG’s Audit Quality and Professional Practice Group with 20 years experience working with the financial services industry. Mark is currently the co-chair of the Financial Instruments Topic Team. Previously, Mark was the head of the Fair Value and Debt-Equity Topic Teams at KPMG. Mark also focused on technical accounting for financial instruments including securitizations and derivatives.

Course Name: World Bank Group Controller and KPMG Annual Financial and Accounting Conference

Learning Objectives: To learn about the latest updates and changes in finance and accounting.

Welcome/Introductions/Logistics for the Day

  • To welcome participants and introduce the speakers (at a high level).  
  • To go over the agenda for the day.
  • To go over administrative items for the day, such as completing CPE forms, evaluations, note cards for questions, etc.

Current Financial Market Update/Trends

  • To provide participants with an update of the current financial services industry, including changes within the banking industry and trends seen in the market.
  • Public Policy Developments
  • To cover hot topics currently in discussion on Capitol Hill that may have an impact on the financial services industry
  • Regulatory Update
  • To go over key changes within the regulatory space in the last year that impact the financial services industry
  • Valuation Adjustments and Finance Products
  • To discuss some of the key things that impact fair value of financial instruments, including:
    • CVA, DVA, FVA, XVA and curve construction
  • To discuss the impact of certain financial products that are impacting the financial services industry, including:
    • MTM Swaps
    • Islamic Finance
    • Catastrophe Bonds

SEC Matters/FASB Update

  • To cover the latest developments with the SEC and FASB, including:
    • Financial Instruments Project
    • Disclosure Framework
    • Consolidation Guidance
    • Insurance Contracts
    • Repurchase Agreements

IFRS and FASB Convergence

  • To discuss recent developments with IFRS and the latest standards being discussed, including:
    • Revenue Recognition
    • Lease Accounting

Target Audience: Finance and accounting professionals working in multilateral development banks and institutions

Program Description: Will cover FASB and IFRS updates, FASB and IFRS convergence, Dodd-Frank and BASEL III updates, regulatory and SEC updates, valuation adjustments, and financial products.

Instructional Delivery Method: Group live (classroom/lecture)

Estimated CPE Credit: This will award approximately 7-8 credits.

Prerequisites: None required

Advance Preparation: None required

Program Level: Update

KPMG Accommodations Statement: KPMG provides reasonable accommodations to individuals who request such accommodations to participate in training. Individuals requesting such an accommodation(s) should contact your local HR professional at least two weeks prior to the start date of the program.

Course Registration Requirements: World Bank Group (WBG) staff participating in the conference can register through the WBG Learning Management System (LMS) at no cost. Registration must be completed by May 15, 2015.

Participants external to the WBG must register by May 15, 2015 at a cost of $150. Any registrant wishing to cancel his/her registration must do so by May 18, 2015.

Refund/Cancellation Policy: Any WBG staff wishing to cancel his/her registration must do so by the end of the day May 18, 2015. Late cancellations and no shows will be charged $150.

No refunds will be given to external participants for cancellations after May 18, 2015 or for any no shows.

Complaint Resolution Policy: Issues, complaints, or comments can be directed to Ms. Candice Ruiz at candiceruiz@kpmg.com.

Official NASABA CPE Sponsor Statement: KPMG is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final Authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417. Website: www.nasba.org.

The World Bank Group Controller and KPMG Annual Finance and Accounting Conference will be held at the World Bank Group Headquarters in Washington DC on May 20, 2015.

To register, please select the applicable link below.

World Bank Group Staff Registration (LMS)

Registration is FREE for World Bank Group staff who sign up by May 15, 2015. Charges will apply after that date, as noted below:

Late registration (after May 15, 2015) $150
Late cancellation (after May 18, 2015) $150
No show $150

 

IMF and IADB Staff Registration

Conference Fee:

The fee for participation for IMF and IADB Staff is US$150 per person. This fee applies to participation in all sessions, lunch, and refreshment breaks. The fee does not include travel or accommodation expenses, which should be planned by each participant. To secure your place at this conference, kindly follow the relevant payment instructions below after registering to attend the conference.

Charges will apply for all registrants in the following circumstances:

Late registration (after May 15, 2015)             $150
Late cancellation (after May 18, 2015)   $150
No show   $150

For any specific questions about the event, please contact:

Overview
  • When: Wednesday, May 20, 2015 8:30 am to 5:00 pm
  • Where: The World Bank, Preston Auditorium: 1818 H Street NW, Washington DC
  • Who: This event is currently only open to World Bank Group, IMF, IADB, and other MDB staff.