1. business and industrial

3 WAYS TO REGISTER
QUESTIONS? Call 800-ASK-4FMS (800-275-4367)
Mail: Financial Managers Society
1 North LaSalle Street, Suite 3100
Chicago, IL 60602-4003
Fax: 312-578-1308
Internet: www.fmsinc.org/CALENDAR
Presorted
Standard
U.S. Postage
PAID
Wheeling, IL
Permit No. 38
Registration
November 6-7, 2014
NAME
Disciplined ALM for
Financial Institutions
TITLE
ORGANIZATION
MAILING ADDRESS
CITY, STATE, ZIP
Orlando, Florida | Loews Royal Pacific Resort at Universal Orlando®
ASSET SIZE
PHONE
FAX
E-MAIL
Save $100 with
a Members-only
Team Discount!
FMS members and their
co-workers save $100
each when two or more
employees register for
this seminar. Simply
complete one form per
person and deduct $100
from each registration fee.
Disciplined ALM for Financial Institutions | November 6-7, 2014
○ FMS Member: $975
$
○ Coworker of Member: $1,075
$
○ Nonmember: $1,275
$
Please list any special accommodations (including dietary restrictions) you require.
Not an FMS member? Join now and save on registration!
○ FMS Regular Membership: $450
$
○ FMS Affiliate Membership: $495
$
Join FMS today at www.fmsinc.org/JOIN and not only will you
save $300 on the registration fees but you can also take advantage
of the year-round FMS member benefits.
TOTAL $
Card #
Exp. Date
Signature
Refunds and Cancellations
A refund minus a $150 processing fee will be provided for cancellations received by FMS in writing by
October 13, 2014. No refunds will be given for cancellations received after that date. A substitution from
your institution is welcome at any time.
FMS reserves the right to change instructors or reschedule/cancel sessions when necessary. FMS is not
responsible for airfare penalties incurred due to the cancellation of the program.
www.fmsinc.org
800-ASK-4FMS (800-275-4367)
o Check enclosed payable to Financial Managers Society
o Charge my MasterCard, Visa or American Express
1 North LaSalle Street, Suite 3100
Chicago, IL 60602-4003
METHOD OF PAYMENT Payment must accompany registration.
November 6-7, 2014
Orlando, Florida
Please select from one of the following options. Call for details about team discounts.
Disciplined ALM for
Financial Institutions
REGISTER
Understand How to Assess and Communicate
Your Institution’s Risk Position
Disciplined ALM for
Financial Institutions
Every financial institution incurs interest rate risk as part of its day-to-day operations. Robust
risk management processes measure and decide on an appropriate exposure to carry, then
stress test those findings. When managers use sound measurement techniques, the stage
is set for informed strategy selection.
In Disciplined ALM for Financial Institutions, presenter, Tom Bowers, CFA, will share his
insight on proper interest rate risk modeling methodologies, with particular emphasis on the
behavioral attributes of non-maturity deposits.
Very few ALCOs understand how to form a balance sheet management game plan out of
seemingly disparate earnings and value sensitivity measures. Throughout this two-day
program, Tom will illustrate how well-managed institutions embrace the complementary
nature of income and economic value-based risk assessments. You will learn how to create
an integrated framework for trading off increased earnings with earnings sensitivity and
economic value risk and review case studies that demonstrate how to achieve the optimal
investment of equity, consistent with the board’s IRR policy.
You Will:
• Gain an understanding of the tools used for IRR measurement, including income simulation, duration, EV analysis and economic gap
•Learn how to better communicate the risk position to key constituencies
•Identify frequently hidden and costly risk in the balance sheet
•Learn to control the duration of equity in the context of earnings-at-risk management
About FMS
For over 65 years, the Financial Managers Society’s network
of members has provided technical education to financial
professionals from community financial institutions through
conferences, seminars, webinars and publications.
For details on FMS membership benefits or how to become
a member, please visit www.fmsinc.org/JOIN or call
800-ASK-4FMS (800-275-4367).
Agenda
Thursday, November 6, 2014
8:00 am
Registration and Continental Breakfast
8:30 am to 4:30 pm
SECTION I – Course Overview: The Drive
Towards “Risk-Neutral”
Seminar objectives:
•Balance sheet strategy decision-making is a multi-step process
•Reasons why ALCO needs a “risk-neutral” policy objective
•Proper use of earnings and economic valuation tools
•Modern techniques for risk measurement:
introduction to key rate duration
•Transform risk deliverables into “actionable” items for management
Outcomes form the following discipline:
•Strengthen spread lock-in on assets and liabilities
•Learn how to optimally invest equity to
trade off increased earnings, earnings
volatility and economic value sensitivity
•More informed communication and greater understanding of IRR drivers
SECTION II – Risk Oversight and Measurement
•Establishing a strong culture of risk governance
•Sound policy to guide the organization’s appetite for risky earnings and value sensitivity
•Feedback mechanisms from management to the board on IRR policy implementation
•Core IRR measurement concepts
o Income simulation
o Economic Value simulation
SECTION III – Introduction to Economic
Value Gap
•Concept and construction of market
value gap
•Examples of market value gap analysis on
typical financial institution products
•Illustration of how market value gap
portrays the balance sheet IRR profile
•Cost of the normal bank’s risk position
•Sources of key rate duration exposure in community banks
SECTION IV – Deciding on a Risk Position:
The Case for “Neutral”
•Investigating earnings sensitivity vs. economic
value sensitivity
•Why both forms of interest rate risk cannot be simultaneously eliminated
•How these risks are balanced has an impact
on earnings
•A “Neutral” interest rate level is one that optimally balances earnings risk with market value risk while considering the impact
on earnings
•Describe how management can identify and decide on the “Neutral” risk levels they would consider the optimal balance
•Identify how the current risk can be changed to the “Neutral” one management prefers
•Identity the impact on earnings of changing risk from current level to the preferred
”Neutral” level
Friday, November 7, 2014
8:00 am
Continental Breakfast
8:30 am to 3:00 pm
SECTION V – Risk of Non-Maturity Deposits
•Four issues to consider when modeling IRR
in non-maturity deposit products
•Two common errors A/L managers make when modeling non-maturity deposit IRR
•Sample:
o Non-maturity deposit pricing process
o Pricing process deterioration assumptions
•Resulting risk profiles of non-maturity deposits
o Earnings risk
o Market value risk
•Why non-maturity deposits are so valuable
•Current value of non-maturity deposits
SECTION VI – Putting it All Together
•Earnings risk vs. market value risk
•Do you want to be asset sensitive?
•How costly and risky is your current
position really?
SECTION V – Case Study: Using Market
Value Gap Risk Reports
•Key risk reports and their interpretation:
o Earnings at risk graphs
o Duration, convexity, PV01 and DPV01 report
o Partial PV01 tables
o Market value risk GAP reports showing the same risk
Faculty
Thomas E Bowers, CFA, Vice President, ZM Financial Systems
Tom Bowers, CFA, joined ZM Financial Systems in 2007, bringing an extensive background
in asset/liability management, capital markets activities and regulatory experience. Tom is
responsible for the company’s online ALM.com product, helping clients effectively configure
this tool’s advanced financial analytics towards the task of risk/reward planning. He supports
users on functional methodologies such as prepayment modeling, non-maturity deposit
valuation, exposure assessment and model validation. Tom’s roles include implementations,
on-site client education and assisting with enhancing and broadening the company’s
software products.
Prior to joining ZMFS, Tom worked as senior education programs director at the IPS-Sendero
Institute. In that role, Tom developed and presented customized education courses on A/L
management and profitability measurement to US and international audiences. He also
led education events for the FFIEC and US regulatory agencies. From 2000 to 2005, Tom
co-presented basic ALM education to federal and state examiners on behalf of the National
Credit Union Administration.
Details
Location and Accommodations
Loews Royal Pacific Resort at Universal Orlando®
6300 Hollywood Way
Orlando, FL 32819
Special FMS Room Rate: $159 Single/Double
For Reservations Call: 1-866-360-7395
Deadline for Rate: October 13, 2014
Identify yourself as an attendee of the Financial Managers Society program to receive
the preferred rate. If you are making reservations through a travel agent, be sure to request
that your reservation be placed in the FMS room block to guarantee the best rate.
Attire
Business-casual attire is appropriate. Since hotel rooms are often cool, please bring
a jacket or sweater.
CPE
Earn up to 14 hours of CPE credit
Level: Intermediate to Advanced
Prerequisites: None
Advance preparation: None
Field of Study: Finance
Instructional Method: Live-Group
FMS is registered with the National Association of State Boards of Accountancy as
a sponsor of continuing professional education on the National Registry of CPE
Sponsors. State boards of accountancy have final authority on the acceptance of
individual courses. Complaints regarding sponsors may be addressed to: The
National Registry of CPE Sponsors, 150 Fourth Avenue, North, Suite 700, Nashville,
TN 37219-2417 Web: www.nasba.org.
For more information regarding administrative policies such as complaints or refunds,
call 800-ASK-4FMS (800-275-4367).
Disciplined ALM for
Financial Institutions
Every financial institution incurs interest rate risk as part of its day-to-day operations. Robust
risk management processes measure and decide on an appropriate exposure to carry, then
stress test those findings. When managers use sound measurement techniques, the stage
is set for informed strategy selection.
In Disciplined ALM for Financial Institutions, presenter, Tom Bowers, CFA, will share his
insight on proper interest rate risk modeling methodologies, with particular emphasis on the
behavioral attributes of non-maturity deposits.
Very few ALCOs understand how to form a balance sheet management game plan out of
seemingly disparate earnings and value sensitivity measures. Throughout this two-day
program, Tom will illustrate how well-managed institutions embrace the complementary
nature of income and economic value-based risk assessments. You will learn how to create
an integrated framework for trading off increased earnings with earnings sensitivity and
economic value risk and review case studies that demonstrate how to achieve the optimal
investment of equity, consistent with the board’s IRR policy.
You Will:
• Gain an understanding of the tools used for IRR measurement, including income simulation, duration, EV analysis and economic gap
•Learn how to better communicate the risk position to key constituencies
•Identify frequently hidden and costly risk in the balance sheet
•Learn to control the duration of equity in the context of earnings-at-risk management
About FMS
For over 65 years, the Financial Managers Society’s network
of members has provided technical education to financial
professionals from community financial institutions through
conferences, seminars, webinars and publications.
For details on FMS membership benefits or how to become
a member, please visit www.fmsinc.org/JOIN or call
800-ASK-4FMS (800-275-4367).
Agenda
Thursday, November 6, 2014
8:00 am
Registration and Continental Breakfast
8:30 am to 4:30 pm
SECTION I – Course Overview: The Drive
Towards “Risk-Neutral”
Seminar objectives:
•Balance sheet strategy decision-making is a multi-step process
•Reasons why ALCO needs a “risk-neutral” policy objective
•Proper use of earnings and economic valuation tools
•Modern techniques for risk measurement:
introduction to key rate duration
•Transform risk deliverables into “actionable” items for management
Outcomes form the following discipline:
•Strengthen spread lock-in on assets and liabilities
•Learn how to optimally invest equity to
trade off increased earnings, earnings
volatility and economic value sensitivity
•More informed communication and greater understanding of IRR drivers
SECTION II – Risk Oversight and Measurement
•Establishing a strong culture of risk governance
•Sound policy to guide the organization’s appetite for risky earnings and value sensitivity
•Feedback mechanisms from management to the board on IRR policy implementation
•Core IRR measurement concepts
o Income simulation
o Economic Value simulation
SECTION III – Introduction to Economic
Value Gap
•Concept and construction of market
value gap
•Examples of market value gap analysis on
typical financial institution products
•Illustration of how market value gap
portrays the balance sheet IRR profile
•Cost of the normal bank’s risk position
•Sources of key rate duration exposure in community banks
SECTION IV – Deciding on a Risk Position:
The Case for “Neutral”
•Investigating earnings sensitivity vs. economic
value sensitivity
•Why both forms of interest rate risk cannot be simultaneously eliminated
•How these risks are balanced has an impact
on earnings
•A “Neutral” interest rate level is one that optimally balances earnings risk with market value risk while considering the impact
on earnings
•Describe how management can identify and decide on the “Neutral” risk levels they would consider the optimal balance
•Identify how the current risk can be changed to the “Neutral” one management prefers
•Identity the impact on earnings of changing risk from current level to the preferred
”Neutral” level
Friday, November 7, 2014
8:00 am
Continental Breakfast
8:30 am to 3:00 pm
SECTION V – Risk of Non-Maturity Deposits
•Four issues to consider when modeling IRR
in non-maturity deposit products
•Two common errors A/L managers make when modeling non-maturity deposit IRR
•Sample:
o Non-maturity deposit pricing process
o Pricing process deterioration assumptions
•Resulting risk profiles of non-maturity deposits
o Earnings risk
o Market value risk
•Why non-maturity deposits are so valuable
•Current value of non-maturity deposits
SECTION VI – Putting it All Together
•Earnings risk vs. market value risk
•Do you want to be asset sensitive?
•How costly and risky is your current
position really?
SECTION V – Case Study: Using Market
Value Gap Risk Reports
•Key risk reports and their interpretation:
o Earnings at risk graphs
o Duration, convexity, PV01 and DPV01 report
o Partial PV01 tables
o Market value risk GAP reports showing the same risk
Faculty
Thomas E Bowers, CFA, Vice President, ZM Financial Systems
Tom Bowers, CFA, joined ZM Financial Systems in 2007, bringing an extensive background
in asset/liability management, capital markets activities and regulatory experience. Tom is
responsible for the company’s online ALM.com product, helping clients effectively configure
this tool’s advanced financial analytics towards the task of risk/reward planning. He supports
users on functional methodologies such as prepayment modeling, non-maturity deposit
valuation, exposure assessment and model validation. Tom’s roles include implementations,
on-site client education and assisting with enhancing and broadening the company’s
software products.
Prior to joining ZMFS, Tom worked as senior education programs director at the IPS-Sendero
Institute. In that role, Tom developed and presented customized education courses on A/L
management and profitability measurement to US and international audiences. He also
led education events for the FFIEC and US regulatory agencies. From 2000 to 2005, Tom
co-presented basic ALM education to federal and state examiners on behalf of the National
Credit Union Administration.
Details
Location and Accommodations
Loews Royal Pacific Resort at Universal Orlando®
6300 Hollywood Way
Orlando, FL 32819
Special FMS Room Rate: $159 Single/Double
For Reservations Call: 1-866-360-7395
Deadline for Rate: October 13, 2014
Identify yourself as an attendee of the Financial Managers Society program to receive
the preferred rate. If you are making reservations through a travel agent, be sure to request
that your reservation be placed in the FMS room block to guarantee the best rate.
Attire
Business-casual attire is appropriate. Since hotel rooms are often cool, please bring
a jacket or sweater.
CPE
Earn up to 14 hours of CPE credit
Level: Intermediate to Advanced
Prerequisites: None
Advance preparation: None
Field of Study: Finance
Instructional Method: Live-Group
FMS is registered with the National Association of State Boards of Accountancy as
a sponsor of continuing professional education on the National Registry of CPE
Sponsors. State boards of accountancy have final authority on the acceptance of
individual courses. Complaints regarding sponsors may be addressed to: The
National Registry of CPE Sponsors, 150 Fourth Avenue, North, Suite 700, Nashville,
TN 37219-2417 Web: www.nasba.org.
For more information regarding administrative policies such as complaints or refunds,
call 800-ASK-4FMS (800-275-4367).
Disciplined ALM for
Financial Institutions
Every financial institution incurs interest rate risk as part of its day-to-day operations. Robust
risk management processes measure and decide on an appropriate exposure to carry, then
stress test those findings. When managers use sound measurement techniques, the stage
is set for informed strategy selection.
In Disciplined ALM for Financial Institutions, presenter, Tom Bowers, CFA, will share his
insight on proper interest rate risk modeling methodologies, with particular emphasis on the
behavioral attributes of non-maturity deposits.
Very few ALCOs understand how to form a balance sheet management game plan out of
seemingly disparate earnings and value sensitivity measures. Throughout this two-day
program, Tom will illustrate how well-managed institutions embrace the complementary
nature of income and economic value-based risk assessments. You will learn how to create
an integrated framework for trading off increased earnings with earnings sensitivity and
economic value risk and review case studies that demonstrate how to achieve the optimal
investment of equity, consistent with the board’s IRR policy.
You Will:
• Gain an understanding of the tools used for IRR measurement, including income simulation, duration, EV analysis and economic gap
•Learn how to better communicate the risk position to key constituencies
•Identify frequently hidden and costly risk in the balance sheet
•Learn to control the duration of equity in the context of earnings-at-risk management
About FMS
For over 65 years, the Financial Managers Society’s network
of members has provided technical education to financial
professionals from community financial institutions through
conferences, seminars, webinars and publications.
For details on FMS membership benefits or how to become
a member, please visit www.fmsinc.org/JOIN or call
800-ASK-4FMS (800-275-4367).
Agenda
Thursday, November 6, 2014
8:00 am
Registration and Continental Breakfast
8:30 am to 4:30 pm
SECTION I – Course Overview: The Drive
Towards “Risk-Neutral”
Seminar objectives:
•Balance sheet strategy decision-making is a multi-step process
•Reasons why ALCO needs a “risk-neutral” policy objective
•Proper use of earnings and economic valuation tools
•Modern techniques for risk measurement:
introduction to key rate duration
•Transform risk deliverables into “actionable” items for management
Outcomes form the following discipline:
•Strengthen spread lock-in on assets and liabilities
•Learn how to optimally invest equity to
trade off increased earnings, earnings
volatility and economic value sensitivity
•More informed communication and greater understanding of IRR drivers
SECTION II – Risk Oversight and Measurement
•Establishing a strong culture of risk governance
•Sound policy to guide the organization’s appetite for risky earnings and value sensitivity
•Feedback mechanisms from management to the board on IRR policy implementation
•Core IRR measurement concepts
o Income simulation
o Economic Value simulation
SECTION III – Introduction to Economic
Value Gap
•Concept and construction of market
value gap
•Examples of market value gap analysis on
typical financial institution products
•Illustration of how market value gap
portrays the balance sheet IRR profile
•Cost of the normal bank’s risk position
•Sources of key rate duration exposure in community banks
SECTION IV – Deciding on a Risk Position:
The Case for “Neutral”
•Investigating earnings sensitivity vs. economic
value sensitivity
•Why both forms of interest rate risk cannot be simultaneously eliminated
•How these risks are balanced has an impact
on earnings
•A “Neutral” interest rate level is one that optimally balances earnings risk with market value risk while considering the impact
on earnings
•Describe how management can identify and decide on the “Neutral” risk levels they would consider the optimal balance
•Identify how the current risk can be changed to the “Neutral” one management prefers
•Identity the impact on earnings of changing risk from current level to the preferred
”Neutral” level
Friday, November 7, 2014
8:00 am
Continental Breakfast
8:30 am to 3:00 pm
SECTION V – Risk of Non-Maturity Deposits
•Four issues to consider when modeling IRR
in non-maturity deposit products
•Two common errors A/L managers make when modeling non-maturity deposit IRR
•Sample:
o Non-maturity deposit pricing process
o Pricing process deterioration assumptions
•Resulting risk profiles of non-maturity deposits
o Earnings risk
o Market value risk
•Why non-maturity deposits are so valuable
•Current value of non-maturity deposits
SECTION VI – Putting it All Together
•Earnings risk vs. market value risk
•Do you want to be asset sensitive?
•How costly and risky is your current
position really?
SECTION V – Case Study: Using Market
Value Gap Risk Reports
•Key risk reports and their interpretation:
o Earnings at risk graphs
o Duration, convexity, PV01 and DPV01 report
o Partial PV01 tables
o Market value risk GAP reports showing the same risk
Faculty
Thomas E Bowers, CFA, Vice President, ZM Financial Systems
Tom Bowers, CFA, joined ZM Financial Systems in 2007, bringing an extensive background
in asset/liability management, capital markets activities and regulatory experience. Tom is
responsible for the company’s online ALM.com product, helping clients effectively configure
this tool’s advanced financial analytics towards the task of risk/reward planning. He supports
users on functional methodologies such as prepayment modeling, non-maturity deposit
valuation, exposure assessment and model validation. Tom’s roles include implementations,
on-site client education and assisting with enhancing and broadening the company’s
software products.
Prior to joining ZMFS, Tom worked as senior education programs director at the IPS-Sendero
Institute. In that role, Tom developed and presented customized education courses on A/L
management and profitability measurement to US and international audiences. He also
led education events for the FFIEC and US regulatory agencies. From 2000 to 2005, Tom
co-presented basic ALM education to federal and state examiners on behalf of the National
Credit Union Administration.
Details
Location and Accommodations
Loews Royal Pacific Resort at Universal Orlando®
6300 Hollywood Way
Orlando, FL 32819
Special FMS Room Rate: $159 Single/Double
For Reservations Call: 1-866-360-7395
Deadline for Rate: October 13, 2014
Identify yourself as an attendee of the Financial Managers Society program to receive
the preferred rate. If you are making reservations through a travel agent, be sure to request
that your reservation be placed in the FMS room block to guarantee the best rate.
Attire
Business-casual attire is appropriate. Since hotel rooms are often cool, please bring
a jacket or sweater.
CPE
Earn up to 14 hours of CPE credit
Level: Intermediate to Advanced
Prerequisites: None
Advance preparation: None
Field of Study: Finance
Instructional Method: Live-Group
FMS is registered with the National Association of State Boards of Accountancy as
a sponsor of continuing professional education on the National Registry of CPE
Sponsors. State boards of accountancy have final authority on the acceptance of
individual courses. Complaints regarding sponsors may be addressed to: The
National Registry of CPE Sponsors, 150 Fourth Avenue, North, Suite 700, Nashville,
TN 37219-2417 Web: www.nasba.org.
For more information regarding administrative policies such as complaints or refunds,
call 800-ASK-4FMS (800-275-4367).
3 WAYS TO REGISTER
QUESTIONS? Call 800-ASK-4FMS (800-275-4367)
Mail: Financial Managers Society
1 North LaSalle Street, Suite 3100
Chicago, IL 60602-4003
Fax: 312-578-1308
Internet: www.fmsinc.org/CALENDAR
Presorted
Standard
U.S. Postage
PAID
Wheeling, IL
Permit No. 38
Registration
November 6-7, 2014
NAME
Disciplined ALM for
Financial Institutions
TITLE
ORGANIZATION
MAILING ADDRESS
CITY, STATE, ZIP
Orlando, Florida | Loews Royal Pacific Resort at Universal Orlando®
ASSET SIZE
PHONE
FAX
E-MAIL
Save $100 with
a Members-only
Team Discount!
FMS members and their
co-workers save $100
each when two or more
employees register for
this seminar. Simply
complete one form per
person and deduct $100
from each registration fee.
Disciplined ALM for Financial Institutions | November 6-7, 2014
○ FMS Member: $975
$
○ Coworker of Member: $1,075
$
○ Nonmember: $1,275
$
Please list any special accommodations (including dietary restrictions) you require.
Not an FMS member? Join now and save on registration!
○ FMS Regular Membership: $450
$
○ FMS Affiliate Membership: $495
$
Join FMS today at www.fmsinc.org/JOIN and not only will you
save $300 on the registration fees but you can also take advantage
of the year-round FMS member benefits.
TOTAL $
Card #
Exp. Date
Signature
Refunds and Cancellations
A refund minus a $150 processing fee will be provided for cancellations received by FMS in writing by
October 13, 2014. No refunds will be given for cancellations received after that date. A substitution from
your institution is welcome at any time.
FMS reserves the right to change instructors or reschedule/cancel sessions when necessary. FMS is not
responsible for airfare penalties incurred due to the cancellation of the program.
www.fmsinc.org
800-ASK-4FMS (800-275-4367)
o Check enclosed payable to Financial Managers Society
o Charge my MasterCard, Visa or American Express
1 North LaSalle Street, Suite 3100
Chicago, IL 60602-4003
METHOD OF PAYMENT Payment must accompany registration.
November 6-7, 2014
Orlando, Florida
Please select from one of the following options. Call for details about team discounts.
Disciplined ALM for
Financial Institutions
REGISTER
Understand How to Assess and Communicate
Your Institution’s Risk Position
3 WAYS TO REGISTER
QUESTIONS? Call 800-ASK-4FMS (800-275-4367)
Mail: Financial Managers Society
1 North LaSalle Street, Suite 3100
Chicago, IL 60602-4003
Fax: 312-578-1308
Internet: www.fmsinc.org/CALENDAR
Presorted
Standard
U.S. Postage
PAID
Wheeling, IL
Permit No. 38
Registration
November 6-7, 2014
NAME
Disciplined ALM for
Financial Institutions
TITLE
ORGANIZATION
MAILING ADDRESS
CITY, STATE, ZIP
Orlando, Florida | Loews Royal Pacific Resort at Universal Orlando®
ASSET SIZE
PHONE
FAX
E-MAIL
Save $100 with
a Members-only
Team Discount!
FMS members and their
co-workers save $100
each when two or more
employees register for
this seminar. Simply
complete one form per
person and deduct $100
from each registration fee.
Disciplined ALM for Financial Institutions | November 6-7, 2014
○ FMS Member: $975
$
○ Coworker of Member: $1,075
$
○ Nonmember: $1,275
$
Please list any special accommodations (including dietary restrictions) you require.
Not an FMS member? Join now and save on registration!
○ FMS Regular Membership: $450
$
○ FMS Affiliate Membership: $495
$
Join FMS today at www.fmsinc.org/JOIN and not only will you
save $300 on the registration fees but you can also take advantage
of the year-round FMS member benefits.
TOTAL $
Card #
Exp. Date
Signature
Refunds and Cancellations
A refund minus a $150 processing fee will be provided for cancellations received by FMS in writing by
October 13, 2014. No refunds will be given for cancellations received after that date. A substitution from
your institution is welcome at any time.
FMS reserves the right to change instructors or reschedule/cancel sessions when necessary. FMS is not
responsible for airfare penalties incurred due to the cancellation of the program.
www.fmsinc.org
800-ASK-4FMS (800-275-4367)
o Check enclosed payable to Financial Managers Society
o Charge my MasterCard, Visa or American Express
1 North LaSalle Street, Suite 3100
Chicago, IL 60602-4003
METHOD OF PAYMENT Payment must accompany registration.
November 6-7, 2014
Orlando, Florida
Please select from one of the following options. Call for details about team discounts.
Disciplined ALM for
Financial Institutions
REGISTER
Understand How to Assess and Communicate
Your Institution’s Risk Position