FAS 163 New Rules for Bond Insurers

Joseph Fritsch
Senior Counsel
Director of Insurance Accounting Policy

Joseph Fritsch is the Director of Insurance Accounting Policy for the New York Insurance Department. He is responsible for accounting and reinsurance issues at the Department and the National Association of Insurance Commissioners (NAIC). Joseph in his position advises the Superintendent and First Deputy on insurance accounting policy and other major policy issues before the Department. He is also responsible for coordination with other states agencies, NAIC, legislatures and officials from other countries on Department’s policies and global issues. He represents the New York Department as Chair of the Statutory Accounting Principles Working Group and Chair of the Property and Casualty Reinsurance Working Group. Also represents New York on various other NAIC Working Groups. In addition, he represents the NAIC and United States at the International Association of Insurance Supervisors.

Mr, Fritsch began his career in the Department in 1979 and has held various leadership positions. Joseph has a bachelor’s degree in accounting from St. Francis College. He also is a Certified Financial Examiner of Society of Financial Examiners, Certified Insurance Examiner of Insurance Regulatory Examiners Society, Associate In Reinsurance from the American Institute for CPCU, Associate In Insurance Accounting and Finance from American Institute for CPCU.

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Wallace Enman
Senior Accounting Analyst
Moody's

Wally is a member of Moody's Accounting Specialist group. He provides technical accounting support to the Life Insurance, Property and Casualty & Reinsurance, and Financial Guarantor teams.

Prior to joining Moody's in 2007, Wally was a Senior Manager in Ernst & Young, LLP's Transaction Advisory Services group, where he consulted and performed due diligence on mergers and acquisitions involving insurance companies. Wally had also worked for the General Reinsurance Corporation, in financial reporting and investment accounting.

He holds a BS degree in Accounting from Fairfield University and an MBA from NYU's Stern School of Business. Wally is a Certified Public Accountant (CPA) and a Chartered Property Casualty Underwriter (CPCU).

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Matthew T. O'Grady
Managing Director, Trading & Underwriting
Herbert J.Sims & Company, Inc.

Matthew O'Grady is responsible for the pricing of all Herbert J. Sims & Co., Inc.'s underwriting and secondary market activity. He has underwritten nearly $6 billion in municipal bonds. Mr. O'Grady's secondary market activity includes overseeing $1 billion in assets for retail investors and daily interaction with the largest municipal bond mutual funds in the US. He has over 13 years of experience in municipal finance and has been quoted in various publications, including the Bond Buyer and the L.A. Times for his expertise in trading, underwriting, and market analysis. Prior to joining Sims in 1997, Mr. O'Grady's work experience included the Municipal Research Department at Bloomberg; municipal bond evaluator for Interactive Data, a division of Dun & Bradstreet; and a fixed-income pricing analyst for Municipal Debt at Pershing, a division of Bank of New York Mellon. He currently serves on the Robbinsville Board of Education and the Young Professional Group for the Robert Wood Johnson University Hospital Hamilton Foundation. Mr. O'Grady is a Master Mason and his philanthropic endeavors include the Special Olympics and The Arc (Association for Retarded Citizens).

Mr. O’Grady holds a Series 24, 53, 63, and 7.

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FAS 163
Speaker Firms:




Herbert J.Sims & Company, Inc