Overview

Audit Committee Quarterly

Toolkit

Roundtables

Publications, Surveys & Resources

Professional Development

European Audit Committee Chairman’s Forum

About ACI

Australia

Austria

Belgium

Brazil

Canada

Chile

Colombia

Denmark

France

Germany

Hong Kong/China

India

Ireland

Luxembourg

Italy

Malaysia

Mexico

Netherlands

Northern Ireland

Russia

South Africa

Spain

Switzerland

Thailand

US

The BOFI Programme

The Audit Committee Institute presents: ‘THE BOFI PROGRAMME’
- training and development for NEDs of Banks & Other Financial Institutions’

Sir David Walker, in his recent report, recommends that each non executive director should have a personalised training and development programme to ensure that they have sufficient understanding of the business to contribute effectively.

With an ever increasing complexity of products and services offered by companies in the financial services industry it is crucial that non executive directors understand these products and the risks involved. How do you ensure that your understanding of the business and the industry it is situated within is sufficient for you to contribute effectively? We at the ACI have developed a programme to help you meet the requirements of Walker.

We want this programme to be owned by those it is designed for – non executive directors of BOFIs. The events listed below form the core of our 2010 programme. However, we aim to be flexible to accommodate developments in regulation and your training needs.

All events will be held at KPMG, Salisbury Square, London, EC4Y 8BB

Whilst sessions will be classroom based active participation and debate will be encouraged.

Building Societies – Tuesday 2 February: 3.30 pm for 4.00 pm start, followed by canapés at 6.00 pm
Whilst the banking sessions are as relevant to building societies as for other banking institutions, this session will address best practice from within the building society sector and examine the specific implications of recent regulatory, audit and accounting changes.

Banking – Governance - Tuesday 2 March: 10.00 am for 10.30 am start, followed by lunch at 12.30 pm
This session will focus on good practice within risk governance and the enterprise risk management framework, helping participants to understand exactly what an effective assurance model involves and the typical areas where experience shows governance arrangements can be improved.

Insurance I – Wednesday 19 May: 4.30 pm for 5.00 pm start, followed by dinner at 7.00 pm
First of two events for non executive directors of insurance companies. These sessions will focus on issues relating to the implementation of the European Commission’s Solvency II project and Phase 2 of the development of the IASB’s accounting standard for insurance business. Other relevant topics will also be discussed.

Banking - Regulatory Capital – Tuesday 25 May: 3.30 pm for 4.00 pm start, followed by canapés at 6.00 pm
This session will focus on likely changes within the regulatory capital framework including the use of stressed VaR, the treatment of trading book assets and the direction for through the cycle stress testing of credit risk.

Remuneration – Wednesday 9 June: 10.00 am for 10.30 start, followed by lunch at 12.30 pm
This session will cover various aspects of executive remuneration from general background and current trends in executive compensation (following the 2010 AGM season), to in depth discussion on the FSA code of pay and the implications of the Walker Review.

Investment Management Companies – Wednesday 16 June: 3.30 pm for 4.00 pm start, followed by canapés at 6.00 pm
The session will address various issues including: accounting developments and the implications for investment companies; the FSA’s capital adequacy and liquidity requirements; the Alternative Investment Fund Managers Directive; and the implications of recent HMRC initiatives.

Banking – Risk – Tuesday 5 October: 10.00 am for 10.30 am start, followed by lunch at 12.30 pm
This session will explore how to better understand business activities, their associated risks and determine the risk management skills and management information needed to adequately monitor these risks. Additionally, attendees will be helped to understand the challenges of ensuring compliance of actual risk against the corporate strategy and risk appetite.

Investment and Venture Capital Trusts – Tuesday 26 October: 10.00 am for 10.30 am start, followed by lunch at 12.30 pm
The session will address various issues including accounting developments and the implications for investment and venture capital trusts; valuation issues, Companies Act and other regulatory developments; and the implications of recent HMRC initiatives.

Insurance II – Wednesday 3 November: 4.30 pm for 5.00 pm start, followed by dinner at 7.00 pm
The second event for non executive directors of insurance companies. These sessions will focus on issues relating to the implementation of the European Commission’s Solvency II project and Phase 2 of the development of the IASB’s accounting standard for insurance business. Other relevant topics will also be discussed.

Banking - Valuation- Tuesday 7 December: 3.30 pm for 4.00 pm start, followed by lunch at 12.30 pm
This session will explore sources of valuation uncertainty in assets and derivatives, current fair value and disclosure requirements and likely changes to these requirements. Practical advice will also be provided on areas of valuation uncertainty and where an independent verification of the valuation framework or the valuation may be prudent.

If you require further information about our events please contact us via e-mail on: auditcommittee@kpmg.co.uk.

For further information, contact the ACI on 020 7694 8855.