IECA's Return to California Brings in the Attendees

 

IECA's first-quarter 2012 included another exceptional event with the IECA Spring Education Conference in Newport Beach, CA. The Conference's

Attendees listen to keynote presentation from Chris Kuehl of Armada Corporate Intelligence.

268 attendees marked the highest attendance since the 2008 Spring Education Conference in Napa Valley.

 

Newport Beach provided a beautiful backdrop for yet another great educational program. Keynote speakers Dominick Chirichella of Energy Management Institute, and Chris Kuehl of Armada Corporate Intelligence, provided a look ahead at the energy industry. Chirichella focused on the geopolitics in energy, discussing the factors that influence the price of oil. Kuehl delved into the recovery prospects for the economy and the impact on the industry.  

 

Attendance was high at the "Dodd-Frank OTC Derivatives Reform" session

Members talk during a credit rating analysis session presented by Moody's Analytics.

presented by Mike Loesch and Jeff Sherman of Fulbright & Jaworski LLP. Another packed session was "Tackling the Challenges of Analyzing Private Companies," presented by Jim Gellert of Rapid Ratings International. "Feedback on the conference has been fantastic," said IECA President Paul Krebs. "Our sponsors are a huge part of our success, and on behalf of the board, I would like to say thank you." (Please see sidebar for complete sponsor list.)

 

Attendees also had a chance to catch up with colleagues and network with newer members during the Sunday evening dinner and other

Naeem Jones from Northern Tier Energy at dinner with his future credit manager, daughter Sofia.

activities. The Conference Management Committee is already hard at work developing the program for the 

88th Annual IECA Conference in Marco Island, FL, October 13-17, 2012. Mark your calendars today! If you have programming and speaker ideas, please feel free to contact Vice President of Education Amanda Kenly at amanda.kenly@trademarkenergy.com or Executive Vice President Jerry Burt at

jburt@ieca.net.

 

As of March 1, 2012, the Commodity Futures Trading Commission (CFTC) has now issued, according to CFTC Chairman Gary Gensler, "28 [final] rules with just over 20 more to go." Of the 28 final rules that have been issued, the CFTC's final rule on Position Limits is currently facing a judicial challenge by ISDA and SIFMA before the U.S. Federal District Court in Washington, D.C.

 

Two of the CFTC's most significant final rules, the so-called "entity definitions" final rule (to define Swap Dealers and Major Swap Participants) and the so-called "product definitions" final rule (to define Swaps) have not yet been approved by the CFTC. Several public meetings of the CFTC have been announced at which the long-awaited definitions of Swap Dealer and Major Swap Participant were to have been discussed and voted on, but on several occasions those meetings have either been cancelled or the entity definitions final rule has been stricken from the agenda, including the most recent public meeting scheduled for March 9, 2012, which was suddenly cancelled without explanation on March 2, 2012.

 

The IECA's Dodd-Frank Working Group has completed and distributed its summaries of the CFTC's two final rules regarding (i) recordkeeping and reporting of swaps and (ii) real-time reporting of swaps data. Interestingly, the CFTC began each of those two final rules with a version of the following statement: the Dodd-Frank Act "was enacted to reduce systemic risk, increase transparency, and promote market integrity within the financial system."

 

Energy companies are increasingly hopeful that these most recent delays at the CFTC could mean that the CFTC is actually considering that (i) energy companies producing energy, trading energy and providing swaps to manage energy commodity price volatility had little or no impact on the "systemic risk within the financial system," and (ii) imposing costly regulatory burdens on those same energy companies may reduce dramatically the availability of essential risk management tools while driving up the costs to energy consumers of using the few remaining risk management tools.

 

Whatever the outcome of the CFTC's deliberations, the IECA and the CLEG will be here to keep you informed of the most recent developments. If you would like to participate in the CLEG's Dodd-Frank Working Group, please contact Andres Aguila or Phil Lookadoo.

 

Since 1999, Alan Babp has managed the daily credit risk 

activities of PPL EnergyPlus and affiliates base load and

Alan Babp

merchant generation portfolios, including counterparty underwriting and monitoring, contract negotiation, structured portfolios, fuel supply activities, tolling activities and renewable portfolios. Additionally, he focuses on enterprise credit risk functions, supporting supply chain, generation procurement, regulatory and treasury activities. Alan's experience includes credit risk systems design, project scoping, implementation, system testing, post-production implementation and systems upgrades. He was Co-Chair of CCRO Market Clearing white paper and has represented PPL at various RTO/ISO credit working groups.

 

Alan held various credit management and credit policy officer positions with Chrysler First and its successor, NationsCredit, where he assisted in developing a syndication group for asset-based loans. While with AT&T Capital Corp. and Finova Capital, he managed telecom leasing, and hi-tech and asset-based loan portfolios. He began his career with Dun & Bradstreet as a business analyst.

 

Alan is a graduate of Susquehanna University, Selinsgrove, 

PA, with a B.S. in Finance and Management. He earned an MBA from Moravian College, Bethlehem, PA.

 

Where did you grow up? Easton, PA. I live three miles from my childhood home. Our family has been in the same township since 1790.

Who was your favorite cartoon character as a child? Bugs Bunny, that waskely wabbit.

Last book read: Just finished "The Long Walk" by Slavomir Rawicz  

If you could meet a famous person (dead or alive) who would it be? Benjamin Franklin.

What is your idea of a dream vacation? While my wife would say Hawaii, I think Germany, Austria, and Switzerland would be a great time.

What is your dream car? I dream of completing the restoration of a 1948 Buick Super 56C convertible (three holes for you car buffs) that my father and I started a number of years ago.

Something you'd be surprised to know about me: I enjoy playing the trumpet. I perform with local community bands, theater pit orchestras, jazz groups, and a brass group that will play the national anthem for the season opener for the local Phillie's Triple A baseball club, the Iron Pigs. Our third appearance!

What is something you would recommend for someone starting out in the credit field? Strive for a balance of science and art in the analysis and assessment of credit risk. The technical side provides the foundation and is the key. Interpreting, understanding and implementing decisions based on the larger picture, the "art" is just as critical. Having and networking with a mentor is one of the most important experiences for a successful career in credit. Being a member of the IECA can build that network.

 

Scholarship Season is Around the Corner

Is your child or grandchild in college or headed off to college soon? If so, don't miss out on this great opportunity to obtain scholarship funds. IECA awards $25,000 in scholarships so make plans to apply today. Look for an e-mail soon with application details or check the IECA website. 

 

Want to Win an iPAD?

IECA is developing a new tagline and we

want your ideas! Please click here to submit your idea for a very brief tagline and you'll be entered to win an iPAD. 

Save the Date: Moody's Seminar in Europe

 

IECA Meeting Manager Earns CMP

We are pleased to announce that Caitlin Dougherty

Caitlin Dougherty

has achieved her Certified Meeting Professional (CMP)

designation. The foremost certification of the meetings, conventions and exhibitions industry, the CMP program, established in 1985, recognizes individuals who have achieved the industry's highest standard of professionalism. The requirements for certification are based on professional experience and a written examination.

If you would like to submit member news for a future issue of IECA Insights send your information to Laura Brown at Laura_Brown@murphyoilcorp.com.