Juan Ramirez is a Vice President and senior professional at Deutsche Bank in London. Previously, he worked 8 years at Deloitte LLP in London, advising clients on IFRS 9 and Basel III/IV issues. Juan is involved in all elements of IFRS 9 and bank regulatory capital. On hedge accounting, Juan is one of the best-known professionals having trained hundreds of risk management practitioners over more than a decade.
With an MBA from the University of Chicago, Mr. Ramirez moved to London to work at the commodities trading desk at JPMorgan. Later he joined the derivatives sales teams at Lehman Brothers, Barclays Capital, Banco Santander and BNP Paribas. He has devoted more than 20 years to derivatives in front office positions, gaining a first-hand experience on market risk and hedging solutions.
Mr. Ramirez is the author of “Accounting for Derivatives”, “Handbook of Basel III Capital” and “Handbook of Corporate Derivatives and Equity Capital Markets”
Conceptual Framework and Accounting for Foreign Exchange Risk Hedges
- Introduction to IFRS 9
- Interaction with other IFRS standards
- Hedge accounting. Types of hedges: fair value hedge, cash flow hedge and net
Introduction to FX Transactions
- Types of FX exposures
- Chronology of a FX transaction
- Functional vs. presentation currency
Case Study: Hedging a Highly Expected Foreign Sale and Subsequent Receivable
- Identification of the FX exposure
- Challenges when justifying “highly expected” cash flows
- Applying hedge accounting – hedging with an FX forward
- Applying hedge accounting – hedging with a tunnel
- Applying hedge accounting – hedging with a participating forward
Case Study: Net Investment Hedge
- Translation of foreign operations
- Case study: France Telecom’s restructuring of foreign subsidiary
- Applying hedge accounting – hedging with cross-currency swaps
Mini Case Studies: Special situations of FX hedges
- Issues arising from hedging intragroup FX risks
Accounting for Commodity Risk Hedges
Case Study: Commodity Hedging Challenges Faced by an Oil Company
- What is different when hedging commodities risk
- Derivatives vs. own use. Embedded derivatives
- Short case studies to explain hedging challenges
Case Study: Hedging Gold Production
- Own use application
- Hedging gold production with a gold forward
Case Study: Hedging Commodity Inventory with Futures
- Recognition of inventories
- Applying hedge accounting: documentation, assessment, fair valuation and accounting entries
Case Study: Hedging Jet Fuel by an Airline
- Hedging risk components
- Applying hedge accounting – Airline hedging with a jet fuel call option
- Applying risk components – Airline hedging with a crude oil call option
Accounting for Interest Rate Risk Hedges
Case Study: Hedging a Floating Rate Liability with a Swap – Cash Flow Hedge
- Recognition of financial liabilities. The fair value option
- Accounting for floating rate bonds – the effective interest rate
- Practical challenges of applying the regression analysis method
- Applying cash flow hedge for a fixed to floating interest rate swap: documentation, effectiveness assessment, fair valuations, and accounting entries
Case Study: Hedging a Floating Rate Liability with a Cap – Cash Flow Hedge
- The treatment of options under IFRS 9
- Applying cash flow hedge for the purchase of a cap: documentation, effectiveness
assessment, fair valuations and accounting entries
Case Study: Hedging a Foreign Currency Bond with a Cross-currency swap – Cash flow hedge
- Treatment of financial instruments denominated in a foreign currency
- Applying cash flow hedge: documentation, effectiveness assessment, fair valuations and
Case Study: Hedging a Future Issuance of a Fixed Rate Liability – Cash Flow Hedge
- Applying fair value hedge for a floating to fixed interest rate swap: documentation, effectiveness assessment, fair valuations, and accounting entries
Case Study: Hedging a Government Bond in the Liquid Asset Buffer (LAB)
- Treatment of debt instruments at FVOCI
- Applying fair value hedge for a fixed rate bond recognised at FVTOCI, covering the complex accounting entries in detail
Case Study: Hedging Inflation Risk
- IFRS 9 guidelines on inflation risk hedging
Case Study: Challenges of applying hedge accounting to hedge inflation-related revenues
- The Fair Value Option and Credit Risk Hedging
- Fair value option vs. hedge accounting
- Hedging credit risk
Case Study: Macro Hedging – Fair Value Hedge (IAS 39)
- Steps in the application of macro hedging
- Challenges from its application
- Other special interest rate risk situations – short case studies
- Hedging credit risk
- Hybrid instruments. Treatment of embedded derivatives
Note: The accounting considerations set out in this seminar are based on the instructor’s interpretation of IFRS. Institutions that the instructor is affiliated with can therefore by no means be associated with his interpretation.
This two-day course runs from 9:00 a.m. – 4:30 p.m. each day including lunch as well as morning and afternoon breaks.
|Registration Options||Before August 2, 2022||Before August 16, 2022||After August 16, 2022|
|IFRS 9 – Accounting for Derivatives in Practice||$2,199.00 + HST||$2,299.00 + HST||$2,399.00 + HST|
Our HST Number: R862562543
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|Second delegate:||$100 Discount|
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This conference has been specifically designed for, and in consultation with, experts in accounting for financial institutions as well as standard setters. The event has been developed with the professional responsibilities of our audience as our focus. As well, auditors, financial advisors, analysts, lawyers and other advisory professionals would benefit from staying current on the information provided at this timely event. In particular, our experience indicates that individuals in the following positions would mostly likely be in attendance:
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Comments from Past Delegates to Acumen Conferences
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Chief Financial Officer, Société Générale
“Best conference I’ve ever attended.”
Senior Manager, Enterprise Hedge Accounting and Derivative Reporting, Royal Bank of Canada
“Suffice it to say that the conference delivered on my expectations…A lot has been taken away from this conference…$ well spent…”
V.P. Risk Management Advisory, New Brunswick Credit Union Stabilization Board
“Finally a course that communicates true technical knowledge”
Director, Operations Finance, NAV Canada
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Manager, Corporate Accounting, Brascan Power
“Great balance between theory and practical application/issues. Perfect level of detail…”
Treasury Manager CHC Helicopter Corporation
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Derivatives Accountant, Agrium Inc.
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