Global Structured Finance Group Helping to build a robust securitisation market

Transcription

1 Global Structured Finance Group Helping to build a robust securitisation market An overview of our full suite of services leadership team.

2 Who are we? The global Structured Finance Group (SFG) is composed of experts located around the globe, including dedicated teams in London, Washington DC, New York Sydney. The SFG comprises of professionals with extensive knowledge of securitisation structured finance in all the main jurisdictions around the world. In total, more than 300 PwC professionals across Europe, US Asia provide clients with advice, indepth market insight pre-eminent transaction support in securitisation structured finance deals. We pride ourselves on making a positive contribution to the development of the structured finance market, promoting a better understing of the industry, assisting in improving transparency providing an independent view to regulators supervisors. We assist a whole range of clients, from those established recurring issuers all the way through to those considering securitisations for the first time. 300 In total, more than 300 PwC professionals across Europe, US Asia provide clients with advice, in-depth market insight pre-eminent transaction support in securitisation structured finance deals. 2 PwC Global Structured Finance Group

3 PwC Global Structured Finance Group 3 Global leadership team RMBS in prime sub prime markets to whole business securitisations. He also has extensive experience of Master Trust Structures. Peter is currently co-chairman of the accounting committee of the European Securitisation Forum. Global & European Peter Jeffrey co-ordinates the Global SFG as well as heading up the European SFG. Peter Europe is an expert in structuring, including accounting regulatory as well as project management James feasibility Hewer studies. has worked He has in been financial involved services in advised in particular on a whole banking range for of nearly transactions 20 years. from James is RMBS one of the in prime firm s leading sub prime experts markets in financial to whole instruments business securitisations. structured products. He also has He extensive specialises in structuring, transaction accounting advice in relation to financial instruments, leading the development provision of services to our IFRS reporting clients. James leads the Structured Peter Finance is currently Group in co-chairman Europe, providing of the assurance, accounting structuring committee advisory of the European due Securitisation diligence services Forum. to numerous audit clients financial institutions to help them underst the implications of IFRS on their products, structures services. Global experience leadership of Master Trust Structures. team Global leadership team Global Europe& European Peter James Jeffrey Hewerco-ordinates has worked in the financial Global SFG services as well as in heading particular up banking the European for nearly SFG. 20 years. James is Global one Asia of the & firm s European leading experts in financial instruments structured products. He specialises in Peter structuring, is an expert structuring, including accounting regulatory as well as project management Colin Heath Jeffrey transaction co-ordinates co-ordinates the accounting the securitisation Global SFG advice as practice well relation as in heading Australia. to financial up the He instruments, European has extensive SFG. leading experience the development feasibility studies. provision He has of been services involved to our in IFRS reporting advised on clients. a whole James range leads of transactions the Structured from RMBS Peter providing Finance is in an advice Group prime expert on in in Europe, sub structuring, financial accounting, prime providing markets including internal assurance, to whole accounting control structuring business securitisations. regulatory risk management advisory as well due He also as diligence project is a has extensive services management specialist in to experience financial numerous feasibility markets, audit of Master studies. securitisation clients Trust He has Structures. financial been involved structured institutions in transactions. to advised help them on underst a whole range the of implications transactions of from IFRS on RMBS their Colin products, also in prime sits on structures the sub Australian prime services. markets Securitisation to whole Forum s business Accounting securitisations. Tax He Sub-committee also has extensive is Peter experience is currently of Master co-chairman Trust Structures. of the accounting committee of the European Securitisation Forum. currently chairing a working group looking at the stardisation consistency of asset due +44 Peter diligence (0)20 is currently practices co-chairman in the james.hewer@uk.pwc.com securitisation of the accounting market in committee Australia. of the European Securitisation Forum. Europe Asia James Colin Heath Hewer co-ordinates has worked the in financial securitisation services practice in in particular Australia. banking He has extensive for nearly experience 20 years. James is one providing Europe Americas of the advice firm s leading on financial experts accounting, financial internal instruments control structured risk management products. He is specialises a specialist in in structuring, financial James Frank Serravalli Hewer markets, transaction has securitisation co-heads worked accounting the financial American structured advice services SFG. in transactions. Frank relation in has particular to extensive financial banking expertise instruments, for nearly in the leading FS 20 Industry, years. the James is development one including of the accounting, firm s leading provision tax experts of quantitative services in financial to our advisory instruments IFRS reporting services, clients. hybrid structured securitisation James products. leads the structures, He Structured specialises in Reg Colin also sits the Australian Securitisation Forum s Accounting Tax Sub-committee is Finance structuring, AB Group evaluation transaction in Europe, of securitisation providing accounting assurance, platforms. advice structuring relation to advisory financial instruments, due diligence leading services the to currently chairing a working group looking at the stardisation consistency of asset due Frank numerous development audit clients provision financial of services institutions to our IFRS to reporting help them clients. underst James the leads implications the Structured of IFRS on diligence has practices lectured in extensively the securitisation derivative market products in Australia. financial instruments. He is a board member of their Finance American products, Group Securitisation structures in Europe, providing forum services. assurance, a member structuring of the Wall advisory Street Tax Association. due diligence services to numerous audit clients financial institutions to help them underst the implications of IFRS on +1 their 646 products, structures frank.serravalli@us.pwc.com services. David Americas Lukach co-heads the American SFG. David has broad experience with complex multinational Asia financial Frank Serravalli institutions, co-heads with respect the American to advising SFG. them Frank on transaction has extensive structuring expertise in the accounting, FS Industry, the issuance Colin including Heath of accounting, MBS co-ordinates ABS tax securities, the quantitative securitisation financial advisory practice reporting, services, in the Australia. assessment hybrid He securitisation has of extensive controls structures, experience account policy providing Asia evaluation Reg AB advice evaluation implementation. on financial of securitisation accounting, platforms. internal control risk management is a specialist in financial Colin Heath markets, co-ordinates securitisation the securitisation structured practice transactions. in Australia. He has extensive experience David Frank providing has is a frequent advice lectured on extensively speaker financial at accounting, US on derivative global internal products asset securitisation control financial risk conferences. management instruments. He is He a is board is a board specialist member in executive of Colin financial American also markets, committee sits Securitisation on the securitisation Australian member forum of Securitisation the American structured a member Forum s Securitisation transactions. of the Accounting Wall Street Forum. Tax Association. Tax Sub-committee is currently chairing a working group looking at the stardisation consistency of asset due diligence Colin also practices sits on the in Australian the securitisation Securitisation market Forum s in Australia. Accounting Tax Sub-committee is currently chairing a working group looking at the stardisation consistency of asset due David diligence Lukach practices co-heads in the securitisation the American market SFG. David in Australia. has broad experience PwC with Global complex Structured multinational Finance Group 3 financial institutions, with respect to advising them on transaction structuring accounting, the +61 issuance Americas (2) 8266 of MBS 1124 ABS colin.heath@au.pwc.com securities, financial reporting, the assessment of controls account policy evaluation implementation. Frank Serravalli co-heads the American SFG. Frank has extensive expertise in the FS Industry, David including Americas is a accounting, frequent speaker tax at US quantitative global advisory asset securitisation services, hybrid conferences. securitisation He is structures, a board executive Reg Frank AB Serravalli committee evaluation co-heads member of securitisation the of the American American platforms. SFG. Securitisation Frank has extensive Forum. expertise in the FS Industry, including accounting, tax quantitative advisory services, hybrid securitisation structures, Frank Reg AB has lectured evaluation extensively of securitisation derivative platforms. products financial instruments. He is a board member of American Securitisation forum a member of the Wall Street Tax Association. Frank has lectured extensively on derivative products financial instruments. PwC Global He Structured is a board Finance member Group 3 of American Securitisation forum a member of the Wall Street Tax Association. David Lukach co-heads the American SFG. David has broad experience with complex multinational financial institutions, with respect to advising them on transaction structuring accounting, the issuance David Lukach of MBS co-heads ABS securities, the American financial SFG. David reporting, has broad the assessment experience of with controls complex account multinational policy evaluation financial institutions, implementation. with respect to advising them on transaction structuring accounting, the issuance of MBS ABS securities, financial reporting, the assessment of controls account policy David evaluation is a frequent implementation. speaker US global asset securitisation conferences. He is a board executive committee member of the American Securitisation Forum. David is a frequent speaker at US global asset securitisation conferences. He is a board executive committee member of the American Securitisation Forum. PwC Global Structured Finance Group 3

4 Our clients services Our full suite of services supports issuers other participants in the securitisation structured finance industry with every aspect of a transaction, from initiation through execution ongoing reporting requirements to support advice in relation to distressed structures the unwinding of programmes. Our extensive experience, industry knowledge global network, mean that we can offer a unique coordinated accounting, tax, transactional advisory service. We are present in all major markets around the world we work with originators, investment banks, servicers, administrators, trustees other parties in virtually all asset classes, including residential commercial mortgages, covered bonds, commercial loans, auto loans, leases, trade receivables, credit cards student loans. In addition to traditional securitisation services, we provide a range of other services in relation to other structured finance transactions including CDO s, CLO s, SIV s, CDPC, CP conduit s other structures deals. We also advise almost all the major investment banks on accounting regulatory issues surrounding structured finance products. We have a dedicated team of experts who provide accounting advice on all aspects of IFRS US GAAP, along with other local accounting regimes affecting structured finance products. Education & training Tailored courses run to educate train clients new to the securitisation structured finance market. Feasibility reviews Workshops run to evaluate for clients the advantages of securitisation structured finance on funding objectives their business strategy. We also provide project management services to issuers. Tax strategies structuring Our close proximity to tax authorities ensures our clients have the best possible response time with respect to tax opinions tax advice relating to securitisations. Asset pool due diligence We will perform agreed upon procedures, for example physical loan file due diligence, pool sampling data validation, to assist investment banks in their due diligence requirements. Data services We work with issuers to ensure the quality, integrity validity of the collateral data provided to the investment banks. We use IT project management expertise to resolve data production delivery problems. Transaction modelling We provide modelling reverse engineering services to comfort bondspecific information both at origination on an on-going basis. 4 PwC Global Structured Finance Group

5 Accounting regulatory advice Accounting treatment of securitisation structured finance structures under IFRS, US GAAP other accounting frameworks. Guidance on latest developments on accounting rules their impact on structures advice on regulatory treatment of structures for both originators lead managers. Back-up servicing collections We provide a full range of credit management collections outsourcing, including expertise in acting as a stby servicer liquidation or collection agents. Investor reporting ongoing deal management We provide comfort to trustees collateral managers on the accuracy of ongoing reports provided to investors. This usually includes the provision of comfort on the underlying periodic cashflow disbursements. Regulation AB For SEC regulated issues we provide advice on Reg AB compliance as well as compliance attestation services. SAS 70 controls reviews We provide non-financial assurance services over the control environment operations of our servicing clients. Audit tax compliance services Our Global presence allows us to provide audit tax compliance services for special purpose entities used for securitisations structured finance transactions. Technology solutions We assist clients in the design, configuration implementation of financial risk management models other applications. PwC Global Structured Finance Group 5

6 Supporting the securitisation Supporting theindustry securitisation industry Supporting the securitisation industry We consider one of our roles to be a key driver in promoting a better understing of the securitisation structured finance industry, emphasising both the benefits the potential We consider pitfalls, one of as our well roles as developing to be a key ideas driver as in to promoting the future a direction better understing of the industry. of the securitisation structured finance industry, emphasising both the benefits the potential pitfalls, as well as developing ideas as to the future direction of the industry. We consider one of our roles to be a key driver in promoting a better understing of the securitisation structured finance industry, emphasising both the benefits the potential pitfalls, as well as developing ideas as to the future direction of the industry. To Working achieve this with challenge, regulators we interact Addressing Facing the turmoil topical by issues in actively industry with various bodies regulators our providing industry assistance publications industry bodies including the To achieve this challenge, we interact We advice Facing produce the turmoil contribute by to market Association for Financial Markets in actively with various regulators leading Europe (AFME)/European During the publications market dislocation on topics providing assistance following industry bodies including the impacting Securitisation Forum (ESF), the the financial the crisis securitisation we have been industry. active in Association for Financial Markets in For advice American Securitisation Forum supporting a full listing the industry please visit through our a number Europe (AFME)/European website During the the Australian Securitisation Forum. of initiatives market dislocation following including media briefings Securitisation Forum (ESF), the the financial crisis we have been active in helping various regulatory bodies Members American To achieve of Securitisation this challenge, the team hold Forum we interact senior supporting underst Facing the the turmoil industry through sector better. by a number This has positions the actively Australian with various in the Securitisation regulators European, US Forum. of included providing initiatives including sessions assistance media briefings with, amongst others, industry bodies including the helping various regulatory bodies Australian Securitisation Forums the advice Bank of International Settlement on Members Association of for the Financial team hold Markets senior in underst the sector better. This has we have provided a number of speakers the working of conduits related positions Europe (AFME)/European in the European, US included During the sessions market with, dislocation amongst following others, for securitisation CDO conferences accounting issues, attending a Australian Securitisation Securitisation Forum (ESF), Forums the the Bank financial of International crisis we have Settlement been active onin organised by these associations. roundtable at the OECD to suggest we American have provided Securitisation a number Forum of speakers the supporting working the of conduits industry through related a number We have also spoken widely at other reasons for the current crisis for the securitisation Australian Securitisation CDO conferences Forum. accounting of initiatives issues, including attending media abriefings conferences produced a number possible learning points presenting organised by these associations. roundtable helping various at the OECD regulatory suggest bodies of industry leading publications on to the ECB on the working of the We Members have also of the spoken team widely hold senior at other reasons underst for the the current sector better. crisis This has securitisation structured finance. structured finance market. We have conferences positions in the European, produced US a number possible included learning sessions points with, amongst presenting others, also met with the NY Federal Reserve of Australian industry Securitisation leading publications Forums on to the the Bank ECB of on International the working Settlement of the on Bank, other US regulators securitisation we have provided a structured number of finance. speakers structured the working finance of conduits market. We related have for securitisation CDO conferences Australian regulators. also accounting met with issues, the NY attending Federal areserve organised Promoting by these industry associations. debate We Bank, roundtable have other issued US at the regulators OECD to a number of suggest white We have host conferences also spoken widely workshops, at other papers Australian reasons for in response regulators. the current crisis the credit crunch conferences including a conference produced in London a number possible learning points presenting have had significant input into the of which industry is well leading attended publications by industry on We to the have ECB issued on the a number working of of white the debate as to how structured finance securitisation representatives. For structured details, please finance. papers structured in response finance market. to the credit We have crunch investments should be valued in this visit our website, or contact your usual also have met with had significant the NY Federal input Reserve into the current climate. PwC contact or one of our structured debate Bank, other as to US how regulators structured finance finance leadership team. We are investments Australian regulators. should be valued in this also lead sponsor of industry forums current climate. including the annual AFME IMN Global ABS conference. We have issued a number of white papers in response to the credit crunch have had significant input into the debate as to how structured finance investments should be valued in this current climate. 6 PwC Global Structured Finance Group

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