2015 Symposium: Implications of the New Regulatory Order for Retirement System Risk Management, April 30-May 1

About the Conference

What do efforts to strengthen the world’s financial system portend for non-bank financial entities, including insurance companies and pension funds? High-level policymakers, academics, and practitioners will discuss topics pertinent to risk management and pension design for an aging planet. Recent regulatory, supervisory, governance, and financial market changes will increasingly drive the pensions and insurance agenda. This conference is co-hosted by Olivia S. Mitchell, Raimond Maurer, and Mike Orszag at the Wharton School.

Conference videos may be found here.

Conference Agenda

Thursday, April 30, 2015

Introductory Remarks: Olivia S. Mitchell, The Wharton School

Session I: Regulatory and Accounting Changes: Objectives, Dangers, and Opportunities

  • “Factors that Impact on Pension Fund Investments in Infrastructure under the Current Global Financial Regulation”
    Javier Alonso, Alfonso Arellano, and David Tuesta, BBVA
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  • “The New Insurance Supervisory Landscape: Implications for Insurance and Pensions”
    Peter A. Fisher, Tapestry Networks
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Discussant: Fredrik Axsater, State Street Global Advisors

  • “Mark-to-Market Accounting for United States Corporate Pensions: Implementation and Impact”
    Joseph Busillo, Thomas Harvey, and Bryan Hoffman, SEI
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  • “Risk Disclosure in the European Insurance Industry: Implications for Occupational Pension Funds”
    Karel Van Hulle, ICIR
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Discussant: Amy Kessler, Prudential
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Keynote Speaker: Lady Barbara Judge, UK Pension Protection Fund

Session II: Changing Supply and Demand for Retirement Products

  • “Accounting and Actuarial Smoothing of Retirement Payouts in Participating Life Annuities”
    Raimond Maurer, Goethe University Frankfurt
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  • “Fundamentals of Cost and Risk that Matter to Pension Savers and Life Annuitants”
    Montserrat Guillen, University of Barcelona; Catherine Donnelly, Heriot-Watt University; and Jens Perch Nielsen, Cass Business School
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Discussant: Emily Kessler, Society of Actuaries
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Discussant: David Blitzstein, Blitzstein Consulting

Keynote Speaker: Franklin Allen, Wharton School

Friday, May 1, 2015

Session III: Global Risk Assessment for Pensions and Other Non-Bank Financial Institutions

Discussant: Mike Orszag, Towers Watson

Session VI: Roundtable

Jeannine Markoe Raymond, NASRA – Moderator
Kevin Hanney, UTC
Hazel Bateman, UNSW
Michael J. Gordon, BNY Mellon Retirement & Strategic Solutions