CECL/IFRS 9 Forum for Insurers & Reinsurers

Looking Ahead as CECL Approaches

May 15, 2019

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new york, ny

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Learn what’s ahead for insurance and reinsurance companies as the deadline for CECL approaches.

Don't miss the Moody’s Analytics CECL and IFRS 9 Forum for Insurers and Reinsurers for an unparalleled opportunity to learn the latest on the CECL and IFRS 9 implementation process, best practices from peer institutions, and the opportunities that lie ahead.

This conference is uniquely designed to bring together senior executives from insurers and reinsurers for a one-day event featuring a packed agenda, Session highlights include:

  • Forecasting Under CECL
  • Methodology for Reinsurance Receivables
  • Optimizing ECL and Actuarial Transformation: Strategic Integration of  the Latest US GAAP and IFRS Accounting Requirements  
  • Accounting Interpretive Issues and Modeling Considerations

Senior executives leading the CECL and/or IFRS 9 process are invited to participate in this exciting and unique event.  Conference registration is complimentary, but space is limited so reserve your spot today.

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Agenda

8:00 am

Registration and breakfast

9:00 am

welcome

Stephen Tulenko, Executive Director- Enterprise Risk Solutions, Moody's Analytics

9:00 am

opening address: The Future of real estate: trends & observations

Please join our keynote speaker, Managing Director and Head of Reis, Cristina Pieretti, to discuss Commercial Real Estate recent trends and market observations, the importance of data, automation and systems integration to support credit loss estimates.

Cristina Pieretti, Managing Director & Head of Reis, Moody's Analytics

9:30 am

Reasonable and supportable macroeconomic forecasts: a how-to guide

In this session we will address the eternal question: what makes an economic forecast both reasonable and supportable? Institutions have options regarding how they use the information from macroeconomic forecasts in estimating loss reserves. In this session, we will discuss the options ranging from simple qualitative overlays to full-blown stochastic simulations.We’ll outline under what circumstances each option is appropriate and focus on the choice of scenarios and scenario weights along with questions about the optimal forecast horizon and how to handle mean reversion.

Cristian DeRitis, Senior Director- Deputy Chief Economist, Moody's Analytics

10:15 am

Methodology for Reinsurance Receivables

Edward Lee, Director - Financial Markets Group, PwC

Masha Muzyka, Senior Director- Solutions Specialist, Moody's Analytics

11:00 am

BREAK 

11:15 am

CECL/IFRS Process automation and optimization in the cloud for a faster close

Srini Iyer, Senior Director - Risk and Accounting Solutions, Moody's Analytics

Deepak Parmani, Director - Product Management, Moody's Analytics

12:00 PM

LUNCH 

1:00 PM

Optimizing ECL and actuarial transformation: Strategic integration of latest US GAAP and IFRS accounting requirements

Consider a holistic approach to implementing the latest US GAAP and IFRS accounting requirements (CECL, IFRS 9, IFRS 17, US GAAP, LDTI).  Discover the inter-dependencies and synergies that can drive the optimization of the operational process as well as determine the financial reporting results and insights that can be achieved during this time of rapid change and increasing requirements.  Learn how to leverage technology to both accelerate implementation and transform financial reporting.

Eve Pastor, Director – Risk and Accounting Solutions, Moody's Analytics

7:00 am to 7:50 am

Registration

7:50 am to 8:00 am

CRE and C&I Scoring and Analytics Practitioner Forum

1:30AM – 1:30PM | Part I: Commercial Real Estate Portfolios

  • Interactive discussion on CRE market landscape, trends, common challenges, and main goals and objectives for attending the MA Summit
  • Update on latest CRE innovations at Moody’s Analytics addressing challenges in risk scoring during pre-qualification, origination, monitoring, and regulatory driven reporting requirements

CRE and C&I Scoring and Analytics Practitioner Forum

1:45PM – 3:30PM | Part II: Commercial & Industrial Portfolios

  • Interactive discussion on latest C&I credit risk assessment practices, and main goals and objectives for attending the MA Summit
  • Update on latest C&I innovations at Moody’s Analytics driving new insights, technologies, and modeling techniques that will take risk analytics to the next generation
  • Best practices for identifying early warning risk trends and methods to optimize credit life cycle needs in a changing business environment
7:50 am to 8:50 am

Closing Reception & Dinner

7:00 am to 7:50 am

Registration

7:50 am to 8:00 am

Keynote Address: Becoming Future Ready: Four Pathways to Digital Business Transformation

Virtually every company is working on transforming their business for the digital era. Peter will share a map for digital transformation describing the capabilities, organizational explosions, risk issues and financial performance of Future Ready companies. He will then identify the four viable pathways to Future Ready and survey results from 1000 companies. He'll tell stories of several successful transformations in financial services with benchmarks of best practice and ask participants to assess where they are on their journey to being Future Ready.

Presented by: Dr. Peter Weill, Chairman & Senior Research Scientist, MIT Center for Information Systems Research (CISR)

breakout sessions

7:50 am to 8:50 am

ECONOMIC UPDATE

Cris deRitis, Moody's Analytics

7:50 am to 8:50 am

Closing Reception & Dinner

1:45 PM

Accounting interpretive issues and modeling considerations

Ben Havird, Director - Financial Services Advisory, PwC

Mike Shearer, Managing Director - Credit Risk Management, PwC

2:30 Pm

BREAK 

2:45 PM

Governance  and internal controls model framework: Best practices when estimates impact  financials

Ben Havird, Director - Financial Services Advisory, PwC

Srini Iyer, Senior Director - Risk and Accounting Solutions, Moody's Analytics

Sen Li, Associate Director- Product Manager, Moody's Analytics

Mike Shearer, Managing Director - Credit Risk Management, PwC

3:30 PM 

Panel Discussion and Q&A

Irene Chan, Director - Accounting Advice, Swiss Re

Eve Pastor, Director- Solutions Specialist, Moody's Analytics

Wenjing Wang, Director - Research, Moody's Analytics

4:15 Pm

CONCLUDING REMARKS

Masha Muzyka, Senior Director and Team Lead - Risk and Accounting Solutions, Moody's Analytics

4:30 - 5:30 PM

networking reception

Top of Agenda

Speakers

Bringing top thought leaders together to discuss opportunities and innovation to affect change.

Cristian deRitis
Senior Director - Deputy Chief Economist

moody's analytics

Cristian deRitis is a senior director at Moody’s Analytics, where he leads a team of economic analysts and develops econometric models for a wide variety of clients. His regular analysis and commentary on consumer credit, policy, and the broader economy appear on the firm’s Economy.com web site and in other publications. He is regularly quoted in publications such as the Wall Street Journal for his views on the economy and consumer credit markets. Currently, he is spearheading efforts to develop alternative sources of data to measure economic activity more accurately than traditional sources of data.

Before joining Moody’s Analytics, Cristian worked for Fannie Mae and taught at Johns Hopkins University. He received his Ph.D. in economics from Johns Hopkins University and is named on two U.S. patents for credit modeling techniques.

Ben Havird
Director - Financial Services Advisory

pwc

Ben is a Director within PwC’s Financial Service Advisory practice and one of the firm’s leading Allowance for Loan Losses experts. Ben has more than 12 years of experience in the financial services industry, including over six years of consulting experience. Ben has assisted many of the world’s leading financial institutions to address a broad range of credit risk management issues. Ben has worked on a range of credit modeling areas, including risk ratings, loss forecasting, Allowance for Loan Losses (ALLL), economic capital, and portfolio management across the full spectrum of wholesale and retail asset classes. Ben is one of PwC’s leading subject matter specialists on the ALLL, and he has assisted a diverse client base with the implementation of ALLL methodologies.

He also serves as a subject matter specialist to PwC audit teams evaluating the efficacy of the rating models, the use of credit models in the estimation of the ALLL, qualitative frameworks, and ALLL related processes.  He serves on the Firm’s CECL Steering Committee including serving on the firm's leadership panel evaluating and formulating interpretative points of view on the credit loss standard.  Heis also a member of the firm’s global IFRS 9 modelling working group.  He has spoken at numerous conferences on allowance related matters, taught a number of CECL training classes, and led numerous CECL implementation projects.  

Ben is a licensed CPA in New York.

Irene Chan
Director Accounting Advice

swiss re management

Irene is the Director of Accounting Advice within Swiss Re and she is based in New York. In her role, Irene provides accounting advice on financial markets transactions and implements new accounting guidance related to financial instruments. She is currently leading the IFRS 9 implementation for local statutory reporting, including accounting policy setting, methodology development and system implementation. Irene is also leading the implementation of new US GAAP accounting guidance on financial instruments such as the new impairment guidance, and manage the preparation and delivery of training programmes for Finance and various business functions.Prior to joining Swiss Re in 2010, Irene worked at Deloitte in New York as an external auditor. Irene is a Certified Public Accountant (CPA) and holds a Bachelor and Master degree in Accountancy from the University of Illinois at Urbana-Champaign (UIUC).

Srini Iyer
Senior Director - Risk and Accounting Solutions

moody's analytics

Srini is a Senior Director responsible for providing subject matter expertise across solutions, products and services offered by Moody’s Analytics. He has over fifteen years of experience in the insurance and banking industry – including experience with Life, P&C, and asset management. Srini has spent the last several years helping clients meet their accounting and regulatory requirements around IFRS 17, IFRS 9 and CECL.

Srini holds an MBA in Finance from the NYU Stern School of Business and a Masters in Computer Science from the New Jersey Institute of Technology.

Edward Lee
Director - Financial Markets Group

pwc

Edward Lee is a Director in PricewaterhouseCoopers(PwC), Financial Markets group and has over 15 years of experience with PwC. He specializes in helping companies with their accounting and financial reporting change and valuation of financial instruments. More recently, he’s been advising companies on their implementation of FASB’s new CECL standard and the potential leveragability of existing models and data for their implementation(e.g., IFRS 9, CCAR), the potential application of the FASB’s new hedge accounting standard, consolidation and securitization issues from Dodd-Frank risk retention rules and implementation issues related to the FASB’s recognition and measurement standard. Ed is a member of PwC’s cross-functional ASU 2016-13 implementation readiness initiative and go-to-market strategy and has also been heavily involved in the development of PwC’s thought leadership publications regarding CECL.  

Before re-joining the Financial Markets group in July 2017, Ed spent two years in PwC’s National Professional Services Group (NPSG), Accounting Services Group (ASG) for Financial Instruments.  In NPSG, Edward consulted on various complex accounting topics including derivatives and hedging, impairment and interest income recognition, consolidation and transfers, debt vs equity accounting and financial statement presentation and disclosures. His current clients include large multinational banks, insurance companies, and other financial service companies.

Edward is a CPA, CA of Ontario and holds a Bachelor of Commerce from the University of Toronto.

Masha Muzyka
Senior Director and Team Lead - Risk and Accounting Solutions

moody's analytics

Masha is a senior director responsible for providing accounting expertise across solutions, products, and services offered by Moody’s Analytics in the US. She has 15 years of experience in the financial industry, with expertise in audit, technical accounting policy, and fin-tech solutions software and services implementation.

Masha has a Bachelor of Economics degree from the Moscow State University. She is a CPA and a member of AICPA.

Deepak Parmani
Director - Product Management

moody's analytics

Deepak joined Moody’ Analytics in 2010. In his previous role, he was part of the Advisory Services within Risk and Financial Analytics in the Moody’s Analytics San Francisco office. He has experience leading advisory projects with banks and other financial institutions addressing a broad range of risk management solutions including Economic Capital, CCAR/DFAST stress testing, PPNR modeling and capital management. In addition, he was involved in successful implementation of Moody’s Analytics solutions for enterprise risk management across various clients.

As a senior member of the Product Management team within the Moody’s Analytics Risk and Financial Analytics Business, Deepak has worked with clients to build and deliver Impairment IFRS 9/CECL and stress testing solutions. In his role, he advises banks, regulators, corporates, and financial institutions to leverage data and software tools that Moody’s Analytics has to offer for enterprise risk management.

Deepak holds an Master’s degree from New York University, and is a CFA charterholder.

Eve Pastor
Director - Risk and Accounting Solutions

moody's analytics

Eve is a Director in the Risk and Accounting Solutions team providing insurance accounting subject matter expertise across solutions, products, and services offered by Moody’s Analytics in the Americas. She has over 19 years of experience in financial reporting, accounting policy, regulation, compliance, and audit at institutions including insurance companies and state and local government. She has a BS in accounting and finance and a BM and MM in music from Indiana University.

She is a CPA (licensed by NC and DE), a CGMA, and a member of the AICPA.

Cristina Pieretti
Managing Director - Head of REIS

moody's analytics

Cristina Pieretti is a Managing Director at Moody’s Analytics, where she oversees REIS, Moody's Analytics's most recent acquisition. Before this, Cristina was driving efforts in Moody’s Analytics Accelerator to identify, research, and develop new business opportunities, with a special focus in new technologies. She was also responsible for evolving the company’s innovation processes.

Prior to this role, Cristina was Senior Director of Executive Programs, in which she coordinated and executed a wide variety of initiatives across Moody’s Analytics. Cristina joined Moody's in 2008 and held product management roles in the structured finance and credit risk measurement businesses.

Prior to joining Moody's Analytics, Cristina worked in banking, where she participated in multiple transactions in Latin America. Cristina holds a Bachelor's degree in Systems Engineering as well as an MBA. She is also a CFA charter holder.

Mike Shearer
Managing Director - Credit Risk Management

pwc

Mike co-leads the Credit Risk Management team within PwC’s Financial Services Advisory practice. Mike has more than 30 years of experience in the financial services industry, including over 25 years of consulting experience. Mike has assisted many of the world’s leading financial institutions to address a broad range of credit risk management issues.

Mike has worked on a range of credit modeling objectives, including risk ratings, loss forecasting, Allowance for Loan Loss, economic capital, pricing and portfolio management across the full spectrum of wholesale and retail asset classes. Mike is one of the firms leading subject matter specialists on allowance for loan loss methodologies.  He has assisted a diverse client base with implementation of ALLL methodologies.  He also serves as a subject matter specialist to PwC audit teams evaluating the efficacy of the rating models, the use of credit models in the estimation of the ALLL, qualitative frameworks, and ALLL related processes.  He is co-leading the firm's ASU 2016 (CECL) efforts, including serving on the firm's leadership panel evaluating and formulating interpretative points of view on the standard.  He is also a member of the firm’s global IFRS 9 modelling working group.  He has spoken at numerous conferences on allowance related matters, has led examiner training sessions on loss forecasting methods and allowance methodology matters.

Stephen Tulenko
Executive Director - Enterprise Risk Solutions

moody's analytics

Stephen Tulenko serves as Executive Director - Enterprise Risk Solutions for Moody’s Analytics. Prior to this appointment, Mr. Tulenko was Executive Director -Sales, Customer Service and Marketing from 2008 to 2013.

Mr. Tulenko also worked as Group Managing Director, Global Head of Sales for the Investor Services Group within Moody’s Investors Service, a unit dedicated to providing credit research and risk management tools to buy-side and sell-side institutions. A Managing Director in the organization since 1998, Mr. Tulenko has also managed marketing and product development teams within Moody’s.

Mr. Tulenko joined Moody’s in 1990. He holds an undergraduate degree in Economics and Business Administration from the University of Notre Dame and an M.B.A. in Finance, Marketing and International Business from the Stern School of Business at New York University.

Wenjing Wang
Director - Research

moody's analytics

Wenjing Wang is a director in the commercial real estate research team of Moody’s Analytics. She joined the Moody’s Analytics research team in 2014. Wenjing participated in developing a range of CRE models, and she works closely with clients to understand and to implement the models. Her expertise covers credit risk modeling, stress testing, and commercial real estate market analysis.  

Wenjing obtained her PhD in economics from Duke University, where her research focused on housing price dynamics and prediction. She also received her Master’s Degree in statistics from Yale University. 

Venue

Moody's Analytics Headquarters
7 World Trade Center
250 Greenwich Street
New York, NY 10007

Nearby Hotels

Millennium Hilton (0.2 miles)
55 Church Street

W New York Downtown (0.5 miles)
123 Washington Street (entrance on Albany Street)

New York Marriott Downtown (0.5 miles)
85 West Street at Albany Street

Email: Melissa.Markowitz@moodys.com

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