Dodd-Frank: Enhanced Compensation Reporting (SEC. 956) For Banks LIVE Webcast
Section 956 of the Dodd-Frank Act mandates banks and other financial institutions with $1 billion or more consolidated assets to disclose the structure of their incentive-based compensation arrangements to appropriate federal agencies. The disclosure aims to determine whether or not the incentive structure allows excessive compensation, fees and other benefits that could lead to financial loss. While the regulations are aimed at the big banks, the topic is relevant for financial institutions of all sizes as its impact is expected to reverberate across the entire financial services industry.
The Knowledge Group has assembled a distinguished panel of bank advisers to discuss the critical issues for enhanced compensation reporting. Panel members will share their expertise in a LIVE two-hour Webcast.
Rose Marie Orens, Senior Founding Partner,
Compensation Advisory Partners LLC
Susan O’Donnell, Managing Director,
Pearl Meyer & Partners
Deborah Lifshey, Managing Director,
Pearl Meyer & Partners
Matt Vnuk, Senior Associate,
Compensation Advisory Partners LLC
- Dodd-Frank Update, Including §956
- Sound Guidance Overview and Related Considerations
- Risk Assessment Process
- What banks are doing now / in preparation
- Governance and tactical implementation
- Large Complex Banking Organizations (“LCBOs”)
- Impact on the incentive plan practices of the largest banks (Assets of $50B+)
- Will cover experiences, learnings, and expectations (for deferral requirement, etc.)
- Smaller Regional and Community Banks (Under $50B)
- Impact on incentive plan practices
- Risk mitigating techniques to consider
- Incentive Plan Practices: Unintended Consequences
- Accounting considerations
- Added complexity which weakens incentive value/alignment
- Need to balance risk and pay-performance alignment
- Disclosure Requirements (what we’re seeing and what’s coming):
- SEC; how pay-for-performance and risk assessment disclosure have changed
- Bank regulators
- Shareholders, Regulators, Employees
- Disconnect(s) between constituencies
- Evolving process; not one size fits all
- Respond to Questions
Who Should Attend:
- Senior Bank Executives
- Finance Lawyers
- Business Leaders
- And Other Finance Industry Professionals
Rose Marie Orens is a senior founding Partner of Compensation Advisory Partners LLC (CAP) in New York. She has consulted on executive and director compensation issues for over 25 years, with a focus on tying executive compensation to business strategy and enhancing the alignment between performance measurement, risk assessment and rewards. She specializes in working with Compensation Committees and Boards and company management across a number of industries, including large multi-national firms, and financial services.
Rose Marie has been frequently quoted in The New York Times, The Financial Times, The American Banker, Bloomberg News, Reuters, CNN and other press and publications. She recently testified before the Congressional Oversight Panel (COP) on executive compensation issues. She has spoken on Developing Trends for PLI and at the Bloomberg Forum, and participated in panels on executive compensation for Equilar and the Society of Corporate Secretaries.
Rose Marie Orens is a senior founding Partner of Compensation Advisory Partners LLC (CAP) in New York. She has consulted …
Susan O’Donnell is a Managing Director with Pearl Meyer & Partners, where she leads the firm’s national banking industry team. Susan has 25 years of experience in compensation consulting.
Susan serves as independent advisor to bank boards and compensation committees. Particular areas of focus for her clients today include addressing new regulations impacting incentive plan risk, short-and long-term incentive plan design, pay-performance alignment review, retention and wealth accumulation strategies, proxy disclosure and CD&A support (including facilitating positive Say on Pay results), corporate governance best practices and succession planning. Susan has also successfully served as expert witness for banks facing activist shareholder scrutiny.
Susan is a frequent author and speaker on banking compensation and regulatory changes authoring articles for American Banker, Bank Accounting and Finance, American Bankers Association, Bank Director and other industry journals. She is frequently cited in the media on banking compensation issues.
Susan O’Donnell is a Managing Director with Pearl Meyer & Partners, where she leads the firm’s national banking industry team. …
Deborah Lifshey is a Managing Director in Pearl Meyer & Partners’ New York office, where she specializes in advising clients on compensation matters from a legal perspective, including securities disclosure, taxation and corporate governance issues, as well as contract negotiations and reasonableness opinion letters. She regularly speaks and writes on disclosure and taxation issues and executive compensation best practices.
Deborah Lifshey is a Managing Director in Pearl Meyer & Partners’ New York office, where she specializes in advising clients …
Matt Vnuk is a Senior Associate at Compensation Advisory Partners LLC (CAP) in New York. He has worked with Boards and senior management in a variety of industries, with a focus on financial services. Recent engagements include working with multiple financial institutions to align their compensation programs with the Sound Guidance as well as shareholder interests.
Matt regularly authors CAP client alerts (CAPFlash) and has been quoted and written for numerous publications, such as Agenda and Directors Monthly. In addition, Matt has been a speaker on webcasts for both the NACD and the Corporate Directors Group.
Matt Vnuk is a Senior Associate at Compensation Advisory Partners LLC (CAP) in New York. He has worked with Boards …
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About Compensation Advisory Partners LLC
Compensation Advisory Partners LLC (CAP), located in New York, is a leading independent consulting firm specializing in executive and director compensation, and related corporate governance matters, with a unique combination of deep expertise and intense client focus. CAP provides Boards and Compensation Committees at many of the world’s largest and leading companies with best-in-class advice, while also meeting an increasing need to demonstrate the objectivity of that advice from a truly independent platform.
Formed in 2009, CAP’s founding principle is that compensation should be a management tool to help support business strategy.
About Pearl Meyer & Partners
Founded in 1989, Pearl Meyer & Partners is among the nation’s leading independent compensation consultancies. The Firm serves as outside counsel to Boards and their senior management, assisting companies in the creation and implementation of innovative pay programs to attract, retain, motivate and reward executives, employees and Directors. PM&P’s Partners and professional staff have advised hundreds of organizations in virtually every industry here and abroad, ranging from Fortune 500 companies to smaller and private firms and not-for-profit organizations. They ensure that every program developed is tailored to the client’s particular business needs, from conception through turnkey implementation. The Firm maintains offices in New York, Atlanta, Boston, Charlotte, Chicago, Houston, Los Angeles, San Francisco and San Jose.