MBA's Accounting & Financial Management Conference 2019

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Wednesday, November 20, 2019

  • LIBOR (CREF Track)

    Location: Marina Ballroom D


    Speaker(s)

    Stephanie Petosa, Client Development Executive, Dechert

    Victor Pa, Vice President, Chief Market Risk Officer, Freddie Mac

    Andrew Foster, Associate Vice President, CREF, Mortgage Bankers Association

    Paul Noring, Managing Director, Berkeley Research Group

    Breakout Session,

    CREF Track

    LIBOR is the base rate for trillions of dollars in adjustable-rate mortgages and other contracts, and it is slated to go away in the next couple of years.  This session will provide background on the transition away from LIBOR, including how companies are preparing and what we do (and don’t) know about how the transition will impact the commercial/multifamily mortgage market.

    Speaker(s)

    Stephanie Petosa, Client Development Executive, Dechert

    Stephanie Petosa is a Client Development Executive at Dechert, LLP in New York. Stephanie focuses on client development, supporting partners and strategic client teams. She works one-on-one with partners to develop strategies and actions that build deeper connections and increase cross-practice relationships with a selected group of existing and new clients. Stephanie reports to CMO Renee Miller-Mizia. She has 20+ years’ experience in the CRE securitization market most recently at Fitch Ratings where her focus was on operational risk; prior to that she was at GE Capital. She joined Dechert in 2019.

    Victor Pa, Vice President, Chief Market Risk Officer, Freddie Mac

    Victor has been with Freddie Mac for over 25 years and has worked through numerous company divisions and roles including Multifamily, Single Family, Investments & Capital Markets, Modeling and Risk Management. Victor moved into the newly created position of Chief Market Risk Officer in 2018 and leads Multifamily’ s regulatory capital and internal capital management initiatives as well as the market risk management and mitigation activities. Additionally, he oversees functions such as risk measurement, analytics, and provides business strategy recommendations for the evaluation of financial volatility risk, managing portfolio limits, implementing our capital framework and risk appetite. Victor also serves as the Divisional Risk Officer responsible for market risk and model risk.

    Andrew Foster, Associate Vice President, CREF, Mortgage Bankers Association

    Andrew Foster is Associate Vice President of Commercial Real Estate with the Mortgage Bankers Association. He focuses on member engagement and brings a strong background in securitization and loan workouts to the Association through prior work experience with MBA member firms.

    Prior to joining MBA, Foster spent several years at Fitch Ratings as a director in CMBS responsible for servicer operational risk reviews. Prior to joining Fitch Ratings, Foster spent four years at S & P Global in CMBS as an associate director responsible for servicer evaluations. 

    Foster began his career in commercial real estate finance with C-III Asset Management as an asset manager responsible for the management and disposition of a portfolio of REO properties and defaulted mortgage loans.

    Paul Noring, Managing Director, Berkeley Research Group

    Mr. Noring, CPA is a Managing Director who leads Berkeley Research Group’s (BRG’s) Financial Institution Advisory Practice.  BRG assists clients solve their most critical business risk across a rang of functional areas including: Financial and Credit Risk Management Quantitative Analytics / Financial Modeling Finance and Accounting Operational / Performance Evaluation and Enhancement Technology Enablement Due Diligence, Merger Integration and Spin-Offs LIBOR Transition Support Investigation, Dispute Consulting and Expert Witness.

    Prior to joining BRG, Mr. Noring led Navigant Consulting’s Banking, Insurance & Capital Market’s practice.  He was also a senior officer with Fannie Mae and a Partner with PricewaterhouseCoopers.  Over his 30 plus year career, he has personally led hundreds of engagements across the full life cycle of mortgage banking from origination to collateral disposition.  Over the last eighteen months, he has been deeply involved with LIBOR transition activities across a range of institutions.

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