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Session 1: Skills Session - Financial Engineering
Learn about complex financial instruments that are traded in the markets today—and some new and innovative products that are just emerging.
Speaker Materials
Speakers
Kevin Kliesen
Federal Reserve Bank of St. Louis
Kevin L. Kliesen is an economist at the Federal Reserve Bank of St. Louis, where he has been employed since October 1988. He came to the Bank after graduating from Colorado State University with an M.A. in Economics. As a business economist, the bulk of his duties comprise reporting on and analyzing current U.S. and international macroeconomic developments and trends. Previously, he was part of the Research Department's Regional Economics group.
In that capacity, he monitored developments in the automotive, agricultural, and natural resources sectors. In his capacity as a business economist, he writes the Bank's monthly Report on Economic Activity, an internal report on general economic conditions, which is prepared prior to each Board of Directors meeting. An important aspect of this position also involves speaking to the general public about the U.S. economy, monetary policy developments and the economic outlook. Besides writing for the Regional Economist, a quarterly publication written for a nontechnical audience, he also writes for the Review, which is the Bank's peerreviewed economic journal. He has also written for professional economics journals, and he has authored several book reviews.
He is a member of the American Economic Association and the National Association for Business Economics (NABE). He was President of the St. Louis Gateway Chapter of NABE from 1999 to 2000. He has served as a member of the Board of the Directors of the national NABE organization. In addition to his interests in business economics and monetary policy, he is also interested in the long-term fiscal problems facing the United States.
Erik Heitfield
Federal Reserve Board
Erik Heitfield is a Senior Economist in the Risk Analysis Section, Division of Research and Statistics at the Federal Reserve Board. His fields of interest include Banking and Financial Institutions, Risk Management, and Econometrics and Statistics. He has been at the Board since 1998.
His publications include: ''Systematic and Idiosyncratic Risk in Syndicated Loan Portfolios'' (with Steve Burton and Souphala Chomsisengphet), Journal of Credit Risk, vol. 2 (Fall 2006), pp. 3-31; ''Risk Sensitive Regulatory Capital Rules for Hedged Credit Exposures'' (with Steve Burton and Souphala Chomsisengphet), in Michael Pykhtin, ed., Counterparty Credit Risk Modelling: Pricing, Risk Management and Regulation. London: Risk Waters Group, 2005; and 'What Drives Default and Prepayment on Subprime Auto Loans?'' (with Tarun Sabarwal), Journal of Real Estate Finance and Economics, vol. 29 (December 2004), pp. 457-77.
He has a B.S., Economics, George Mason University, 1991 and a Ph.D., Economics, University of California, Berkeley, 1998.
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