Speaker

Alan Burr

About The Speaker

Alan Burr has almost 50 years’ international experience of financial markets.

He specialises in the securities and derivatives industry, with particular expertise in the establishment of new markets, trading, operations, regulation, risk management, corporate governance, clearing and settlement. He has substantial executive experience with clearing houses, exchanges, international markets and in the management of IT. He works extensively with international clients including banks, central banks, asset managers, brokers, custodians, service providers and exchanges.

He has deep derivatives and securities experience and is recognised as a leading authority in the field of operations, regulation and risk management. He has taught students leading to the CISI Diploma in Global Operations Management for twenty years. He has worked on the training faculty of the International Capital Market Association (ICMA), specialising in operations.

Following 20 successful years with ICCH (now LCH Limited) until 1992 during which he was Chief Executive in Hong Kong and Executive Director in London, he joined MEFF, the Spanish Financial Futures Exchange, as its International Director. Today he is an independent advisor offering a broad range of professional services, which include consulting, management, training and expert witness work.

Alan is ah Honorary Chartered Fellow of the CISI, The Chartered Institute for Securities & Investment (Chartered FCSI). He is a CISI accredited trainer and examiner. He is the immediate past Chairman of the CISI Risk Forum committee and currently Deputy Chairman of the CIS Operations Forum committee.

 

 

Upcoming Event

Fund Administration And Accounting

Course Details

Course Objectives

This two-part introductory course will enable participants to improve their understanding of the responsibilities of fund administrators and fund accountants. It will build awareness of the varied activities which contribute to the delivery f these important services. Those who take part will achieve the following learning outcomes:

  • Know the various parties involved and their responsibilities
  • Have knowledge of the related activities in fund administration 
  • Understand how funds are regulated
  • Know how fund accounting procedures operate
  • Be aware of valuation and pricing issues
  • Understand risk management processes

Course Outline

Session 1

1.Client services

  • Documentation
  • Reporting to clients
  • Communicating with investors
  • Know how fund accounting procedures operate
  • Prospectus, report and accounts production
  • Differences with offshore funds

2. Fund administration

  • Parties in a fund structure
  • Who is involved?
  • The various participants and supporting functions
  • The division of duties
  • The role of the Authorised Fund Manager (AFM)
  • Pricing and income
  • Dealing in the fund
  • Buying and selling fund units
  • Delivery and settlement
  • Transfer of title, the use of Transfer Agents

3. Key regulations

  • Investor relations
  • Investment and borrowing powers
  • Operating duties

4. Fund governance best practice

  • Safekeeping rules
  • Trustees, custodian and depositories

5. Documentation issues

  • Prospectuses
  • What are derivatives?
  • Derivatives use
  • Registration of unit holders

6. Regulatory reporting requirements

  • Regulatory actions – case studies

7. Fund accounting

  • Defining the net asset value (NAV)
  • Key components of the NAV
  • Processes involved in its calculation
  • Portfolio accounting and controls
  • Effective control environment
  • Profits, income and taxation
  • Distribution of income

Session 2

8. Operational duties and controls

  • Dealing
  • Pricing

9. Valuation and pricing issues

  • Pricing errors and managing their impact
  • Pricing breaches
  • Compensation
  • Investment and borrowing powers
  • Valuation and dilution
  • Publication of prices

10. Exposures, lending, limits in investments

  • Diversification limits
  • Employing derivatives in fund structures

11. Service level agreements and KPIs

  • How and where to use

12. Further areas in fund operations

  • Using fund platforms
  • The application of technology and automation
  • Data challenges
  • Outsourcing and associated issues
  • The rise of FinTech

13. Risk management processes

  • Defining risks and their sources
  • Risks in fund operations
  • Key risk areas
  • Integrated risk assessment
  • Oversight of third parties
  • Case studies

14. How are funds regulated and controlled?

  • Protection against financial crime
  • Regulatory influences
  • Compliance in asset management
  • Industry bodies – The Investment Association as an example