Management

Prof. Rami Yosef - President

IAVFA ID: 1122

 

  •  A Full Professor of Actuarial Science and Finance at Ben Gurion University, Head of the Insurance and Finance specialties in the Business Administration Department at Ben Gurion University, and Owner of the financial consulting firm Prof. Rami Yosef - Actuarial, Pension and Economic Consulting, which specializes in providing actuarial consulting services and professional actuarial opinions in the areas of body injuries, balancing resources between spouses, actuarial liability for employee benefits (IAS 19). He is also a Partner at the advisory company Variance Economic Consulting Ltd in these actuarial evaluations, which specializes in providing independent professional valuations, in accordance with US GAAP, IFRS and Israeli accounting standards, for financial reporting purposes and as expert opinions to various courts and regulatory authorities in Israel and abroad.

 

  • Holder of a PhD degree (Summa Cum Laude) in Actuarial Science and Finance, an MSc degree (summa cum laude) in Statistics and Actuarial Science studies and a BA degree (cum laude) in Statistics, all of them from the University of Haifa, holder of a Diploma in Actuarial Techniques (DAT) from City, University of London and a Diploma in Actuarial Science from the University of Haifa.

 

  • A Corporate Finance Valuator (CFV), Quantitative Finance Valuator (QFV), Financial and Economic Modelist (FEM), Market Risk Actuary (MRA), Credit Risk Actuary (CRA), Operational Risk Actuary (ORA), Investment Risk Actuary (IRA), Life Risk Actuary (LRA) and a Pensions Risk Actuary (PRA) - Certified by the Israel Association of Valuators and Financial Actuaries (IAVFA).

 

  • Having an intensive experience in financial, actuarial and pension consulting and research. Prof. Yosef is in his third decade of providing hundreds of opinions for leading companies and bodies, including the Israel Ministry of Finance, the Bank of Israel, the National Insurance Institute of Israel, Israeli pension funds, Israeli insurance companies and Israeli law firms. Prof. Yosef is considered one of the four leading expert witnesses, on behalf of the Israeli courts, who provide actuarial opinions in the field of demages.

 

  • A former Head of Business Administration Department at the Ben-Gurion University of the Negev and General Director of the Municipality of Afula. 

Mr. Jacob Eshed - Chairman

IAVFA ID: 1027

 

  • A Partner at the economic advisory firm Eshed-Rozin Tesuot Consultants, which specializes in performing economic valuations, fair value evaluations for financial reporting, preparation of business plans, financial advisory and independent opinions. The firm serves numerous customers, including private and public companies and corporations of various sizes and from all sectors of the Isreali economy.

 

  • Holder of an MBA degree in Business Administration, and a BA degree in Economics, both of them from Tel Aviv University and with specializiation in Finance. 

 

  • A Corporate Finance Valuator (CFV), Quantitative Finance Valuator (QFV), and a Financial and Economic Modelist (FEM) - Certified by the Israel Association of Valuators and Financial Actuaries (IAVFA).

 

  • Having an intensive experience in valuations and economic consulting. Mr. Eshed is in his forth decade of providing valuation and economic consulting services including implementation, review, and management of hundreds of valuations and economic analyses for hundreds of companies in Israel and abroad.

 

  • A former External Director at Medtechnica Ltd., External Director at Medan General Contracting Earth Roads & Quarries (1964) Ltd., Director at King Ltd., Managing Director at Shearson-Clal Investment Company Ltd., Senior Economist in the Trade Division of Clal (Israel) Ltd., Economist in the Securities Department of Israel Discount Bank Ltd.., Independent Instructor for securities analysis courses at Bank Hapoalim B.M, Israel Discount Bank Ltd.Bank Leumi le-Israel B.M.College of Management, Israel Institute of Labor Productivity, Israel Center for Management and various other institutions, and Lecturer for securities analysis courses at Tel Aviv University's external studies program, 

Mr. Roi Polanitzer - Co-Founder & CEO

IAVFA ID: 1002

 

  • Mr. Roi Polanitzer is the co-founder and CEO of the Israel Association of Valuators and Financial Actuaries (IAVFA). He was an outside Lecturer of Finance at Ashkelon Academic College, Achva Academic College, University of Haifa, and Ariel University.

  • Mr. Polanitzer is a Fellow of the IAVFA (F.IL.A.V.F.A.), a  Financial Risk Manager (FRM) - certified by the Global Association of Risk Professionals (GARP), a Certified Risk Manager (CRM) - certified by the Israeli Association of Risk Managers (IARM). He holds a MBA degree (cum laude) in Business Administration specializing in Actuarial Science and Financial Risk Management and a BA degree (cum laude) in Economics specializing in Finance and Valuation and from the Ben-Gurion University of the Negev, as well as a Certificate in Financial Risk Management from the Ariel University. He also studied in the program for certificate studies in Actuarial Science at the University of Haifa and successfully completed the professional exams administered by the Israel Securities Authority (ISA) for a Portfolio Manager's License.

  • Mr. Polanitzer has served as a consultant at the Advisory Firm of Dr. Shilo Lifschutz, at the Consulting Firm Ogen - Actuarial, Financial and Business Consulting Ltd., and at the Accounting Firm Raveh Ravid & Co.. He has published numerous articles in professional business and finance journals in Israel, on options, financial assets, and corporate finance, and actuarial science. He is a co-author of 2 academic papers on Risk Management in the Israeli Banking System in the Journal of Yosef Kasirers Institute and the Quarterly Banking Review, (Hebrew). He was the chairman of a committee of IAVFA which determined Financial Valuation Guidelines to All Israeli Tax Authority Personnel engaged in Valuation Practice.

  • Mr. Polanitzer is the Principal and Chief Actuary of Intrinsic Value, which is engaged in valuation, risk management, actuarial science and financial engineering. In the company he is responsible for consulting accounting firms, audit firms, financial advisory firms, and publicly traded companies in Israel.

Miss. Lital Medi - Vice President

IAVFA ID: 1081

 

  • Miss. Medi is the Vice President of the Israel Association of Valuators and Financial Actuaries (IAVFA). She is an Auditor, Senior Accountant and Manager in the Family and Divorce Valuation Department of the accounting firm Barlev Associates - Investigative Auditing.

  • Miss. Medi has a rich and long experience in the fields of valuations and economic opinions, balance of resources due to divorce and investigative auditing, including: investigating suspicions of property smuggling, locating properties in Israel and abroad and more. As part of her job, she implemented, reviewed, and managed hundreds of valuations and economic opinions, including balance of resources and property due to divorce, assessing financial and pension rights, locating smuggling in Israel and abroad, feasibility tests of acquiring businesses and companies and opinions to various magistrate courts and rabbinical courts.

  • Miss. Medi holds an M.B.A (cum laude) degree in Finance and Financial Management from Tel Aviv University, and a B.A. degree n Business Administration from the The College of Management - Academic Studies specializing in accounting. She is a Certified Public Accountant in Israel (CPA) - Licensed by the Accountants Council at the Israel Ministry of Justice, and a Corporate Finance Valuator (CFV) - Certified by the Israel Association of Valuators and Financial Actuaries (IAVFA). 

Adv. Ilan Kalmanovich - Legal Counsel

IAVFA ID: 1003

 

  • CEO of the economic advisory company Leaders Consulting and Management Ltd, which specializes in corporate valuations, expert opinions for courts and authorities and private capital raisings and Founding Partner at the law firm Kalmanovitz and Co., which specializes in civil and business litigation and economic law.

 

  • Holder of an MBA degree in Business Administration from Tel Aviv University,BSc degree (cum laude) in Industrial Engineering from the Ben Gurion University , and a LLB degree from Sha'arei Mishpat College. 

 

  • A Lawyer in Israel - Licensed by the Israel Bar Association, Investment Advisor in Israel - Licensed by the Israel Securities Authority, Court Mediator in Israel - approved by the Israeli Court Management, and a Corporate Finance Valuator (CFV), Quantitative Finance Valuator (QFV), and a Financial and Economic Modelist (FEM) - Certified by the Israel Association of Valuators and Financial Actuaries (IAVFA).

 

  • Having an intensive experience in valuations and economic consulting. Adv. Kalmanovitz is in his third decade of providing valuation and economic consulting services including implementation, review, and management of hundreds of valuations and economic analyses for hundreds of public and private companies and took part in writing the economic chapter in the the Implementation of the Disengagement Plan Law (2005) and in addition managed and performed hundreds of compensation calculations for hundreds of businesses which were evacuated from Gaza strip under that law.​ 

 

  • A former director in several publicly-traded and privately-held companies, including companies listed on the NASDAQ, Vice President of Fahan Kaneh Consultants Ltd (today part of Grant Thornton Israel), Vice President of Union Bank of Israel Ltd, Manager at Peilim Investment Portfolio Management Ltd., Consultant at Ziv Haft consulting and Management Ltd (today part of BDO Israel), Analyst at Israel Credit Lines Analyst Ltd, and Engineer at the Central Bottling Company Ltd (Coca Cola Israel).

Mrs. Lital Naor - Head of Balance of Resources and Investigative Auditing

IAVFA ID: 1069

 

  • A Partner at the accounting firm Schneider, Naor & Co., which specializes in providing consulting in the area of forensic accounting (collection and analysis of accounting and economic data, in a manner that will constitute admissible evidence in legal proceedings), and in providing economic consulting and professional valuations for transactions, financial reporting and expert opinion for courts, rabbinic courts and various regulatory and statutory authorities. The firm employs a diversified team of experts comprised of accountants and economists specializing in economic consulting and valuations.

 

  • Holder of a BA degree (cum laude) in Business Administration from the College of Management - Academic Studies specializing in accounting, and graduated certificate studies for valuators and analysts and a professional training on the Distribution of Pension Savings between Separated Spouses Law (2014) from the Center for Continuing Education of Bar-Ilan University. CPA. Naor is authorized to conduct audits in mutual funds and ETFs on by the Israel Securities Authority (2011), to conduct audits under section 28(d)(1) of the Regulation of Investment Advising, Investment Marketing, and Portfolio Management Law (1995) by the Israel Securities Authority (2010), to conduct audits under section 97(c) of the Joint Investment Trust Law (1994) by the Israel Securities Authority (2010). She also holds an appointment as a supervisor on Tel Aviv Stock Exchange members and portfolio managers under section 11 of the Prohibition on Money Laundering Law by the Israel Securities Authority (2009) and appointment as a supervisor on Currency Service Providers in accordance with Chapter D2 of the Prohibition on Money Laundering Law by the Israel Ministry of Finance, the Registrar of Currency Service Providers, and the Capital Market, Insurance and Savings Division (2009).

 

  • A Certified Public Accountant in Israel (CPA) - Licensed by the Accountants Council at the Israel Ministry of Justice, and a Corporate Finance Valuator (CFV), Quantitative Finance Valuator (QFV), Financial and Economic Modelist (FEM), Operational Risk Actuary (ORA), Life Risk Actuary (LRA), and a Pensions Risk Actuary (PRA) - Certified by the Israel Association of Valuators and Financial Actuaries (IAVFA).

 

  • Having an intensive experience in financial forensics and valuations. CPA. Naor is in the end of her first decade of providing financial forensics and valuation consulting services including implementation, review, and management of dozens of expert opinions for family courts and rabbinic courts in the country.

 

  • A former Auditor, Senior Accountant and Manager in the Family and Divorce Valuation Department of the accounting firm Barlev Associates, economist at Smart Energy Solutions Ltd., Teaching Assistant for accounting and auditing courses in the areas of investigative auditing in the Accounting Department at Ruppin Academic Center and in the Accounting Department of the College of Management - Academic Studies.

Mr. Uri Wolf - Head of Valuations for M&A Purposes

IAVFA ID: 1124

 

  • CEO of the economic advisory company Uri Wolf - Economic & Financial Consulting Ltd., which specializes in a wide range of economic projects and valuations of companies and businesses for a variety of purposes, including: acquisition and sale of companies, investment in companies and projects, opinions for tax purposes, valuations for financial reporting purposes, and valuations of companies and businesses for balancing resources between spouses. The firm also prepares expert opinions for courts and arbitrations.

 

  • Holder of an MSc degree (cum laude) in Operations Research (Research), an MA degree (cum laude) in Economics (Research), and a BA degree (cum laude) in Economics, all of them from Tel Aviv University

 

  • A Corporate Finance Valuator (CFV) - Certified by the Israel Association of Valuators and Financial Actuaries (IAVFA).

 

  • Having an intensive experience in valuations and economic consulting. Mr. Wolf is in his fifth decade of conducting numerous valuations and economic and financial opinions for companies and businesses in the private and public sectors, including for public companies, local authorities, organizations and institutions.

 

  • A former Manager and Partner in the accounting firm Almagor & Co. - Economic and Financial Consulting Ltd. (currently Deloitte Israel and at the time BDO Israel), Finance and Economics Manager at an investment company founded by Discount Investment Corp Ltd., Senior Economist in the Economic Consulting Department of Professor Haim Ben-Shahar, and a Lecturer for economics courses in the School of Economics at Tel Aviv University.

Mr. Yossi Dekel - Head of Valuations for Legal Purposes

IAVFA ID: 1110

 

  • Owner of the financial consulting firm K.O. Dekel & Co., which specializes in providing economic advisory, economic and actuarial expert opinions and independent professional valuations. Mr. Dekel serves as the Manager of the flagship project of the Israel Ministry of Economy and Industry, Economic and Business advisor and Chairman of the Audit Committee of the Federation of Israeli Chambers of Commerce (FICC), Member of a number of boards of directors, Lecturer in various economic fields, Member of the editorial board of a scientific journal in the field of organizational research of University of Haifa, and Chairman of the steering committee of University of Haifa.

 

  • Holder of an MBA degree (suma cum laude) in Business Administration with a specialization in real estate management and real estate appraisal, and a BA degree in Statistics, all from the University of Haifa, and graduated certificate studies for valuators and analysts from the Center for Continuing Education of Bar-Ilan University, certificate studies in valuations at Tel Aviv University and certificate studies in law at University of Haifa

 

  • A Chartered Life Underwriter (CLU) - by the American college, and a Corporate Finance Valuator (CFV), Life Risk Actuary (LRA), and a Pensions Risk Actuary (PRA) - Certified by the Israel Association of Valuators and Financial Actuaries (IAVFA).

 

  • Having an intensive experience in valuations and economic and actuarial expert opinions. Mr. Dekel is in his second decade of providing valuation and economic consulting services including implementation, review, and management of hundreds of valuations and economic and actuarial expert opinions on behalf of the courts, on behalf of the parties, and for leading law firms.

 

  • A former CEO of a number of companies, Vice President of a leading banking corporation, Vice President and District Manager in a public insurance company, Manager at credit committees, Supervisor of the Prohibition of Money Laundering, and Economic Journalist who published a regular column in the economic magazine Forbes (Isr.).

Mrs. Rachel Komemi - Head of Valuations for Financial Reporting

IAVFA ID: 1070

 

  • Owner of the accounting firm Rachel Komemi, specializing in providing accounting, economic and business consulting services, and is a member of the Eliot Israel Group, which includes independent and high-quality accounting firms. As a member of the Alliott Group, the accounting firm provides services to the customers of the other group members in their activities in Israel, and provides quick access to knowledge abroad.

 

  • Holder of a BA in Economics specializing in accounting, from Ben Gurion University.

 

  • A Corporate Finance Valuator (CFV) - Certified by the Israel Association of Valuators and Financial Actuaries (IAVFA).

 

  • A Certified Public Accountant in Israel (CPA) - Licensed by the Accountants Council at the Israel Ministry of Justice, a graduate of a mediation course behalf ofthe Israeli Center for Negotiation and Mediation, in cooperation with the Institute of Certified Public Accountants in Israel and a directors' course on behalf of the Institute of Certified Public Accountants in Israel.

 

  • Having an extensive cumulative experience of almost two decades in the fields of valuations and economic consulting, including the implementation of hundreds of valuations of businesses and opinions to the courts.

Mr. Gabi Arbiv - Head of Valuations for Tax Purposes

IAVFA ID: 1117

 

  • A Financial Valuator, specializes in independent valuations of corporations, projects, sectors, intangible assets, inter-company transfer prices, assets and liabilities transferred in transactions with controlling shareholders and purchase price allocations (PPAs). Mr. Arbiv provides valuations in a variety of contexts: fair value adjusted to IFRS, Israeli GAAP and US GAAP regulations, valuations prior to mergers, splits, spins offs, acquisitions, sales processes and other structual changes, preparation for discussion with Israeli and foreign tax, SEC and other authorities, transactions with controlling shareholders, and expert opinion for legal a purposes.

 

  • Holder of an MBA degree in Business Administration, a BA degree in Economics, and a BA degree in accounting, all from Tel Aviv University.

 

  • A Corporate Finance Valuator (CFV) - Certified by the Israel Association of Valuators and Financial Actuaries (IAVFA).

 

  • Having an intensive experience in valuations and economic consulting. Mr. Arbib is in his forth decade of providing valuation and economic consulting services including implementation, review, and management of hundreds of valuations and economic analyses for hundreds of companies in Israel. Mr. Arbib provides economic expert opinions in courts on behalf of the private and governmental parties, and for leading law firms.

 

  • .A former Chief Analyst of Leumi Partners Research Ltd. (previously National Consultants Ltd.), the consulting and analysis company of Bank Leumi le-Israel B.M.

Mr. David Bachar - Head of Financial Planning

IAVFA ID: 1106

 

  • Manager and owner of C.L.U, Insurance Agency (1989) Ltd., which specializes in providing pension and retirement planning, risk and resource management, planning, a well as solutions for exhaustion of rights in the field of taxation. . Mr. Bachar serves as a certified mediator, an expert witness and a certified arbitrator, a consultant in the field of Commercial Damages and Lost Profits for the Israel Association of Insurance Agents, a member of the Financial Committee of the Israel Association of Insurance Agents, a member of the MDRT Club (i.e., Million Dollar Round Table) of the Premier Association of Financial Professionals and writes professional articles in insurance, tax and legal journals in Israel.

 

  • Graduated certificate studies in financial statements analysis and valuations, insurance law, damages and taxes, accountants and CFOs, board of directors and senior corporate executives course from the Lahav Executive Education of Tel Aviv University, Graduated certificate studies in issues in damages insurance  from from the Center for Continuing Education of Bar-Ilan University, Graduated certificate studies in economic law in criminal and civil aspects from the Institute of Continuing Education of the Israel Bar Association, and Graduated certificate studies in advanced accounting & auditing from the the Institute of Continuing Education of the Institute of Certified Public Accountants in Israel.

 

  • A Chartered Life Underwriter (CLU) - by the American college, and a Corporate Finance Valuator (CFV), a Certified Financial Planner (CFP) - Chartered by the Financial Planning Standards Boar (FPSB), and a Corporate Finance Valuator (CFV) - Certified by the Israel Association of Valuators and Financial Actuaries (IAVFA).

 

  • Having an intensive experience in valuations and economic expert opinions for courts, among his clients: Insureds, Insurers (including Lloyd's), Appraisers, Israel Electric Corporation, IDF, Israel State Attorney's Office, Israel Property Tax and Compensation Fund.

 

  • A former Chairman of the Audit Committee of the Israel Association of Insurance Agents.

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Mr. Ben-Zion Israel - Head of Market and Credit Risk Actuarial Science

IAVFA ID: 1011

 

  • Mr. Israel CEO of Ben-Zion Israel - Financial and Business Consulting Ltd., which specializes in providing financial consulting services in the areas of valuation and risk management.

 

  • Mr. Israel is an Associate of the IAVFA (A.IL.A.V.F.A.) and holds a FRM (Financial Risk Manager) from the GARP (Global Association of Risk Professionals), a CFV (Corporate Finance Valuator) from the IAVFA (Israel Association of Valuators and Financial Actuaries), an MA degree in Accountingfrom Bar Ilan University, a BA in Economics from Tel Aviv University specializing in accounting, an Israeli Certified Public Accountant License, and an Israeli Certified Pension Advisor License

  • Over the past three decades, Mr. Israel has been actively involved in implementation, review, and management of valuations and economic analyses for hundreds of companies in Israel and abroad.

 

  • Mr. Israel is a former Member of the Board of Directors and Chairman of the Audit Committee and Director of U-Bank Ltd. in Israel, Managing Partner of the Venture Capital Sadot Research and Development Fund Ltd (which was traded on bothe the Tel Aviv Stock Exchange and the London Stock Exchange - Main List), under which he managed and made investments in over than 20 startups and led its listing on the London Stock Exchange (LSE) and exercising holdings in some of those startups (Exits), Acting CEO and Head of Acquisitions and Mergers and Chief Financial Officer of the publicly traded companies Inspire Investments Ltd. and Ocif Investments and Development Ltd and the CEO of Baker Tilly Consultants Ltd.

  • Mr. Israel Initiated and led capital raisings, private placements, investments in startups and exercise holdings. He served as an active chairman of board of directors and as a board member of a number of high-tech and startups (of which were acquired by international companies and issued on the NASDAQ Stock Exchange).

Mrs. Carmela Hermesh - Head of Oprational and Integrated Risk Actuarial Science

IAVFA ID: 1071

 

 

  • Holder of an MA degree in Statistics, and a BA degree in Statistics, both from Tel Aviv University.

 

  • An Operational Risk Actuary (ORA) - Certified by the Israel Association of Valuators and Financial Actuaries (IAVFA).

 

  • Having an intensive experience in operational risk mapping, modeling, measurement and management . Mrs. Hermesh is in her forth decade of operational riskmapping, modeling, measurement and management, ncluding: writing policy documents for operational risk management, defining risk appetite for operational risks, building operational risk maps, calculating operational risk capital charges (basic indicator approach and standardized approach, and advanced measurement approach), of operational risk assessments, conducting stress tests for operational risks, building an internal damage events database, analysis of information, usage of external damage events data, process responsibility for operational risks, writing the relevant chapter in the ICAAP document, defining KRIs (Key Risk Indicators) and building the framework (including a dashboard in order to present the indicators), gap analyses in accordance with Bank of Israel and Basel directives, and recommendations for closing those gaps and creating a framework for periodic reporting to the management and the board of directors .

 

  • A former Head of Operational Risks Branch in the Risk Management Division at Bank Leumi le-Israel B.M. and in various positions in the Bank in the area of operational risk management.

The Israel Association of Valuators and Financial Actuaries (IAVFA) is a professional organization, an institution for professional training and a body which specializes in placing professional employees in the financial sector in Israel. IAVFA strives to voluntarily regulate the professions of valuation and financial actuarial science in Israel, both by setting pre-qualification requirements, ethical principles for practitioners in these professions, and by training and certifying quality professionals for these professions. IAVFA provides both placement services in order to integrate its credentialed members in leading positions within the Israeli labor market, and mediation services between valuation consumers and valuation specialists.

© 2014–2015 by Israel Association of Valuators and Financial Actuaries (IAVFA). All Rights Reserved.

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