The Manulife Org Chart & Sales Intelligence Presentation delivers 22 slides containing the executive leadership org charts, the board of directors org charts, actionable sales trigger events, a financial snapshot, and excertps from the Manulife annual report, earnings call, investor presentation, Proxy Statement (Executive Bonus Structure) and other articles and press.
If you're selling to Manulife this is a must read.
Contact us at www.databahn.com or email us at info@databahn.com if you need help marketing and selling to Manulife.
The Manulife Org Chart & Sales Intelligence Presentation delivers 22 slides containing the executive leadership org charts, the board of directors org charts, actionable sales trigger events, a financial snapshot, and excertps from the Manulife annual report, earnings call, investor presentation, Proxy Statement (Executive Bonus Structure) and other articles and press.
If you're selling to Manulife this is a must read.
Contact us at www.databahn.com or email us at info@databahn.com if you need help marketing and selling to Manulife.
Mercer Capital's Portfolio Valuation: Private Equity and Credit | Q1 2020Mercer Capital
Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Marks and Trends Newsletter provides a brief digest and commentary of some of the most relevant market trends influencing the fair value regarding private equity portfolio investments.
TIMIA Capital Corporation is a specialty finance company that provides growth capital to technology companies in exchange for payments based on monthly revenue. This alternative financing option complements both debt and equity financing, while allowing entrepreneurs and existing stakeholders to retain ownership and control of their business. TIMIA’s singular focus is the fast growing, global, business-to-business Software-as-a-Service (or SaaS) segment. We align ourselves with entrepreneurial management teams growing their sales from $1 Million to $10 Million in Annual Recurring Revenue. For more information about TIMIA Capital Corporation, please visit www.timiacapital.com
TIMIA Capital Corporation is a specialty finance company that provides growth capital to technology companies in exchange for payments based on monthly revenue. This alternative financing option complements both debt and equity financing, while allowing entrepreneurs and existing stakeholders to retain ownership and control of their business. TIMIA’s singular focus is the fast growing, global, business-to-business Software-as-a-Service (or SaaS) segment. We align ourselves with entrepreneurial management teams growing their sales from $1 Million to $10 Million in Annual Recurring Revenue.
ahli bank - Sustainability Report for Year 2018
You can read more here:
https://ahli.com/report/sustainability-reports/sustainability-report-year-2018/
This document brings together a set of latest data points and publicly available information relevant for Business services. We are very excited to share this content and believe that readers will benefit from this periodic publication immensely.
ECS3019 Financial Decisions for Business – Assignment 2(A) UseEvonCanales257
ECS3019 Financial Decisions for Business – Assignment 2
(A) Use the financial information provided in Debenhams’ 2018 Financial Statements to answer the following questions.
1. Work out Debenhams liquidity ratios in 2018. What do these ratios tell us about Debenhams’ liquidity position? (15 marks)
a. Quick ratio
b. Current ratio
2. Work out Debenhams Inventory turnover ratios in 2018. What does this ratio tell us about Debenhams’ inventory management? (10 marks)
3. Work out Debenhams profitability ratios in 2018. What do these ratios tell us about Debenhams’ profitability state? (15 marks)
a. Return on capital employed
b. Net profit ratio
4. Work out Debenhams Debt/Equity ratio in 2018. What does this ratio tell us about Debenhams’ financial risk level? (10 marks)
(B) Read Debenhams’ 2018 Financial Report and research on relevant information about this company. What was the major mistake it made in relation to its financial decision in recent years that had led to its downfall? Were there any other internal and external factors contributing to the failure of this business? Use examples and concrete figures to justify your arguments.
Word limit for Part B is between 1500 to 2000. (50 marks)
Submission Deadline: Monday 26th of April 2021 before 11:30 pm via Turnitin.
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S
P
L
C
Making shopping
sociable and fun
2018 has been a tough year for UK retail and this is reflected in
our results for the year. However we are seeing the first positive
signs of results from our Debenhams Redesigned strategy. We
have built a plan that allows us to focus on priorities within our
strategy that are scalable and will help us to mitigate the
challenging retail environment.
We are taking decisive action to drive further cost savings and
generate cash whilst addressing the structural challenge of our store
estate. This will create a solid financial platform for us to invest behind
our strategy and create value for our shareholders and stakeholders.
Our strategy is to deliver growth by becoming a Destination for Social
Shopping and offering exciting new produ ...
The OLB Group is a FinTech company offering a suite of product
solutions in the merchant services and payment facilitator verticals,
including a cloud-based omni-channel commerce platform for SMBs,
electronic payment processing, and crowd funding services for
issuers and broker/dealers.
Burke & Herbert Financial Services Corp. is the bank holding company for Burke & Herbert Bank & Trust Company. Burke & Herbert Bank & Trust Company is the oldest continuously operating bank under its original name headquartered in the greater Washington DC Metro area. The Bank offers a full range of business and personal financial solutions designed to meet customers’ banking, borrowing, and investment needs and has over 20 branches throughout the Northern Virginia region and commercial loan offices in Fredericksburg, Loudoun County, Richmond, and in Bethesda, Maryland.
1 Evidence-Based Practices to Guide ClinicaSilvaGraf83
1
Evidence-Based Practices to Guide Clinical Practices
Marilaura Mieres
Miami Regional University
Dr.Mercedes
03/28/2021
Evidence-Based Practices to Guide Clinical Practices
2
Introduction
Evidence best practices is an approach that translates excellent scientific research
evidence to enhanced practical decisions aiming at improving health. EBP involves using
research findings obtained from systematic data collection that is achieved through observations
and analyzed experiments. The connection of research, theory, and EBP are interlinked in that
the delivery of one results in another aspect's discovery. Through research findings, a theory is
discovered, and through various experiments and observations, evidence-based practices are
identified.
Interrelationship Between the Theory, Research, and EBP.
According to Cannon & Boswell (2016), health professionals require standards to analyze
behavioral treatments in the behavioral sciences. Through complete incorporation and
implementation processes, health professionals must value EBP processes, health theories, and
research. Through experience, health practitioners must learn to integrate research results to
determine the best treatment plans suitable for patients. Through this research results,
experiments, and evidence, health practitioners with academicians ally to discover a theory. The
treatments are offered according to patients' values, interests, and preferences (Cannon &
Boswell 2016). The values increase practitioners' skills and knowledge to analyze research
outcomes effectively. Nurses are expected to think critically after being taught and encouraged,
which corresponds with evidence-based practices. Nurses' critical thinking skills require a
foundation on which proven research and tested data can be based. The proven research,
evidence-based practices, and a good foundation all connect to form a theory that research can
rely on and nurses can use to prove their practices.
3
Additionally, health professionals at all levels must identify challenges and arising
questions to address patients' needs and offer quality practices to discover appropriate
interventions suitable for every challenge. Health professionals are directly involved in research
projects that allow them to understand the best methods to publish for evidence-based practices.
Through different researches and publications, health professionals like advanced practice nurses
use research to solve health dilemmas. Nurses find platforms centered on tested clarifications
through nursing practices and methodical examinations from research to build a base for
procedures and care.
Moreover, research is a scientific procedure that anticipates outcomes through the use of
fundamental expertise. Research processes enhance the capacity of discipline through clarity and
visualized aspects. The discipline's ability to put i ...
1 Green Book Film Analysis Sugiarto MuljSilvaGraf83
1
Green Book Film Analysis
Sugiarto Muljadi
CSUN
COMS 321
Prof. Darla Anderson
12th May 2021
2
Green Book Analysis
Social stratification exists in almost every place that human’s dwell. Nonetheless, race
remains one of the most controversial elements of social stratification. The film Green Book
wants the audience to learn that there are no differences between humans regardless of their
race. While watching it, I was concerned that the script might have glossed over Shirley and
other African-Americans face. The newfound abundance of clean, inexpensive cars in the
1930s was more than a matter of convenience for middle-class Americans (IMDb, 2020). It
opened up new opportunities, giving them the freedom to fly across the world at their own
pace without having to rely on anyone. Also, in a constitutionally segregated world in some
areas and functionally segregated almost everywhere else, this was so for African Americans
(Lemire, 2018). However, while white travelers could travel with relative ease, stopping at
restaurants, bars, entertainment venues, and places to stay as they wished, African Americans
faced greater challenges. Staying in the wrong hotel or attempting to eat at the wrong
restaurant could result in you being ejected or worse.
The Negro Motorist Green Book was not the only travel guide for African-Americans,
but it was the most popular. Victor Hugo Green, an African-American mail carrier from
Harlem who served in Hackensack, New Jersey, designed it. Green worked on the effort for
almost three decades, from 1936 to 1966, soon after the Civil Rights Act was signed into law,
including a four-year pause during WWII (Diamond, 2018). The Green Book quickly
established itself as the most important document for black travelers in America, outlining
where they could eat, drink, and sleep without being abused or worse. Green Book depicts
various discriminatory prejudices that permeated American life in the early and mid-
twentieth centuries, ranging from snide remarks and racial epithets to outright hatred.
3
References
Diamond, A. (2018, November 20). The true story of the 'Green book' movie. Smithsonian
Magazine. https://www.smithsonianmag.com/arts-culture/true-story-green-book-
movie-180970728/
IMDb. (2020). Green book (2018). https://www.imdb.com/title/tt6966692/plotsummary
Lemire, C. (2018). Green book movie review & film summary (2018). Movie Reviews and
Ratings by Film Critic Roger Ebert | Roger Ebert.
https://www.rogerebert.com/reviews/green-book-2018
Week # 3 Case Study: Late and Later Documentation
Case Study: Late and Later Documentation
Based on the case study, critique the documentation presented by the healthcare provider and provide examples of whether the nurse follows or did not follow documentation requisites.
State what errors you found in the documentation and if you think the nurse followed the appropriate procedure ...
More Related Content
Similar to (1) See page 20 for a discussion of non-IFRS measures.(2
Mercer Capital's Portfolio Valuation: Private Equity and Credit | Q1 2020Mercer Capital
Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Marks and Trends Newsletter provides a brief digest and commentary of some of the most relevant market trends influencing the fair value regarding private equity portfolio investments.
TIMIA Capital Corporation is a specialty finance company that provides growth capital to technology companies in exchange for payments based on monthly revenue. This alternative financing option complements both debt and equity financing, while allowing entrepreneurs and existing stakeholders to retain ownership and control of their business. TIMIA’s singular focus is the fast growing, global, business-to-business Software-as-a-Service (or SaaS) segment. We align ourselves with entrepreneurial management teams growing their sales from $1 Million to $10 Million in Annual Recurring Revenue. For more information about TIMIA Capital Corporation, please visit www.timiacapital.com
TIMIA Capital Corporation is a specialty finance company that provides growth capital to technology companies in exchange for payments based on monthly revenue. This alternative financing option complements both debt and equity financing, while allowing entrepreneurs and existing stakeholders to retain ownership and control of their business. TIMIA’s singular focus is the fast growing, global, business-to-business Software-as-a-Service (or SaaS) segment. We align ourselves with entrepreneurial management teams growing their sales from $1 Million to $10 Million in Annual Recurring Revenue.
ahli bank - Sustainability Report for Year 2018
You can read more here:
https://ahli.com/report/sustainability-reports/sustainability-report-year-2018/
This document brings together a set of latest data points and publicly available information relevant for Business services. We are very excited to share this content and believe that readers will benefit from this periodic publication immensely.
ECS3019 Financial Decisions for Business – Assignment 2(A) UseEvonCanales257
ECS3019 Financial Decisions for Business – Assignment 2
(A) Use the financial information provided in Debenhams’ 2018 Financial Statements to answer the following questions.
1. Work out Debenhams liquidity ratios in 2018. What do these ratios tell us about Debenhams’ liquidity position? (15 marks)
a. Quick ratio
b. Current ratio
2. Work out Debenhams Inventory turnover ratios in 2018. What does this ratio tell us about Debenhams’ inventory management? (10 marks)
3. Work out Debenhams profitability ratios in 2018. What do these ratios tell us about Debenhams’ profitability state? (15 marks)
a. Return on capital employed
b. Net profit ratio
4. Work out Debenhams Debt/Equity ratio in 2018. What does this ratio tell us about Debenhams’ financial risk level? (10 marks)
(B) Read Debenhams’ 2018 Financial Report and research on relevant information about this company. What was the major mistake it made in relation to its financial decision in recent years that had led to its downfall? Were there any other internal and external factors contributing to the failure of this business? Use examples and concrete figures to justify your arguments.
Word limit for Part B is between 1500 to 2000. (50 marks)
Submission Deadline: Monday 26th of April 2021 before 11:30 pm via Turnitin.
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2
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1
8
D
E
B
E
N
H
A
M
S
P
L
C
Making shopping
sociable and fun
2018 has been a tough year for UK retail and this is reflected in
our results for the year. However we are seeing the first positive
signs of results from our Debenhams Redesigned strategy. We
have built a plan that allows us to focus on priorities within our
strategy that are scalable and will help us to mitigate the
challenging retail environment.
We are taking decisive action to drive further cost savings and
generate cash whilst addressing the structural challenge of our store
estate. This will create a solid financial platform for us to invest behind
our strategy and create value for our shareholders and stakeholders.
Our strategy is to deliver growth by becoming a Destination for Social
Shopping and offering exciting new produ ...
The OLB Group is a FinTech company offering a suite of product
solutions in the merchant services and payment facilitator verticals,
including a cloud-based omni-channel commerce platform for SMBs,
electronic payment processing, and crowd funding services for
issuers and broker/dealers.
Burke & Herbert Financial Services Corp. is the bank holding company for Burke & Herbert Bank & Trust Company. Burke & Herbert Bank & Trust Company is the oldest continuously operating bank under its original name headquartered in the greater Washington DC Metro area. The Bank offers a full range of business and personal financial solutions designed to meet customers’ banking, borrowing, and investment needs and has over 20 branches throughout the Northern Virginia region and commercial loan offices in Fredericksburg, Loudoun County, Richmond, and in Bethesda, Maryland.
1 Evidence-Based Practices to Guide ClinicaSilvaGraf83
1
Evidence-Based Practices to Guide Clinical Practices
Marilaura Mieres
Miami Regional University
Dr.Mercedes
03/28/2021
Evidence-Based Practices to Guide Clinical Practices
2
Introduction
Evidence best practices is an approach that translates excellent scientific research
evidence to enhanced practical decisions aiming at improving health. EBP involves using
research findings obtained from systematic data collection that is achieved through observations
and analyzed experiments. The connection of research, theory, and EBP are interlinked in that
the delivery of one results in another aspect's discovery. Through research findings, a theory is
discovered, and through various experiments and observations, evidence-based practices are
identified.
Interrelationship Between the Theory, Research, and EBP.
According to Cannon & Boswell (2016), health professionals require standards to analyze
behavioral treatments in the behavioral sciences. Through complete incorporation and
implementation processes, health professionals must value EBP processes, health theories, and
research. Through experience, health practitioners must learn to integrate research results to
determine the best treatment plans suitable for patients. Through this research results,
experiments, and evidence, health practitioners with academicians ally to discover a theory. The
treatments are offered according to patients' values, interests, and preferences (Cannon &
Boswell 2016). The values increase practitioners' skills and knowledge to analyze research
outcomes effectively. Nurses are expected to think critically after being taught and encouraged,
which corresponds with evidence-based practices. Nurses' critical thinking skills require a
foundation on which proven research and tested data can be based. The proven research,
evidence-based practices, and a good foundation all connect to form a theory that research can
rely on and nurses can use to prove their practices.
3
Additionally, health professionals at all levels must identify challenges and arising
questions to address patients' needs and offer quality practices to discover appropriate
interventions suitable for every challenge. Health professionals are directly involved in research
projects that allow them to understand the best methods to publish for evidence-based practices.
Through different researches and publications, health professionals like advanced practice nurses
use research to solve health dilemmas. Nurses find platforms centered on tested clarifications
through nursing practices and methodical examinations from research to build a base for
procedures and care.
Moreover, research is a scientific procedure that anticipates outcomes through the use of
fundamental expertise. Research processes enhance the capacity of discipline through clarity and
visualized aspects. The discipline's ability to put i ...
1 Green Book Film Analysis Sugiarto MuljSilvaGraf83
1
Green Book Film Analysis
Sugiarto Muljadi
CSUN
COMS 321
Prof. Darla Anderson
12th May 2021
2
Green Book Analysis
Social stratification exists in almost every place that human’s dwell. Nonetheless, race
remains one of the most controversial elements of social stratification. The film Green Book
wants the audience to learn that there are no differences between humans regardless of their
race. While watching it, I was concerned that the script might have glossed over Shirley and
other African-Americans face. The newfound abundance of clean, inexpensive cars in the
1930s was more than a matter of convenience for middle-class Americans (IMDb, 2020). It
opened up new opportunities, giving them the freedom to fly across the world at their own
pace without having to rely on anyone. Also, in a constitutionally segregated world in some
areas and functionally segregated almost everywhere else, this was so for African Americans
(Lemire, 2018). However, while white travelers could travel with relative ease, stopping at
restaurants, bars, entertainment venues, and places to stay as they wished, African Americans
faced greater challenges. Staying in the wrong hotel or attempting to eat at the wrong
restaurant could result in you being ejected or worse.
The Negro Motorist Green Book was not the only travel guide for African-Americans,
but it was the most popular. Victor Hugo Green, an African-American mail carrier from
Harlem who served in Hackensack, New Jersey, designed it. Green worked on the effort for
almost three decades, from 1936 to 1966, soon after the Civil Rights Act was signed into law,
including a four-year pause during WWII (Diamond, 2018). The Green Book quickly
established itself as the most important document for black travelers in America, outlining
where they could eat, drink, and sleep without being abused or worse. Green Book depicts
various discriminatory prejudices that permeated American life in the early and mid-
twentieth centuries, ranging from snide remarks and racial epithets to outright hatred.
3
References
Diamond, A. (2018, November 20). The true story of the 'Green book' movie. Smithsonian
Magazine. https://www.smithsonianmag.com/arts-culture/true-story-green-book-
movie-180970728/
IMDb. (2020). Green book (2018). https://www.imdb.com/title/tt6966692/plotsummary
Lemire, C. (2018). Green book movie review & film summary (2018). Movie Reviews and
Ratings by Film Critic Roger Ebert | Roger Ebert.
https://www.rogerebert.com/reviews/green-book-2018
Week # 3 Case Study: Late and Later Documentation
Case Study: Late and Later Documentation
Based on the case study, critique the documentation presented by the healthcare provider and provide examples of whether the nurse follows or did not follow documentation requisites.
State what errors you found in the documentation and if you think the nurse followed the appropriate procedure ...
1
Film Essay 1
Film from 1940-1970
Garrett Lollis
ARTH 334
Professor Tom Fallows
April 04, 2021
2
Part 1
The film I chose was Ben-Hur (1959), which is an adventure/historical film by director
William Wyler. The film is a work of fiction based on the 1880 book Ben-Hur: A Tale of the
Christ by author Lee Wallace and is the third film adaption of multiple films based upon the
story of the fictional character Ben-Hur (Brayson, 2016). I personally enjoyed this 3 hour and
42-minute film due to the directors’ masterful work even though the film was made in 1959.
William Wyler utilized different cinematography and editing tools such as D.W.
Griffiths intercutting, panning, close-up, and dissolve techniques throughout the film to depict
each scene and enhance the quality of the film (Gutmann, 2010). With the use of D.W. Griffiths
cinematography/editing techniques, William Wyler managed to show different angles of a scene
better and pan for more use of the space because of newer technology unlike the straight on view
that had to be used in George Melies’s A Trip To The Moon (1902) due to the technology at
that time. Sound syncing really came a long way from the early 1900’s and this film perfectly
synced the sounds with what was happening in each scene (The History of Sound at the Movies,
2014). There is a scene about an ancient Roman naval battle taking place and I believe all parts
from sound, to editing, and cinematography come together during this battle scene. Before the
battle takes place the Admiral of the ship tests the boat rowers which were slaves by having them
run through different battle speeds of the ship. There is a drummer that helps keep the rowers in
sync, so as the Admiral yelled out “attack speed” the drummer started drumming and you can
hear the multitude of sounds from the music intensifying, the drummer drumming faster to the
changing ship speeds, to the exhaustion of the men as they row throughout this particular scene.
Once the battle begins, the battle music intensifies, and the director used cross-cutting to go
between the battle taking place outside the ship and back to the men under the deck rowing the
3
boat as the battle draws on. The director also used close-up shots to show the different
expressions on a few characters faces during the battle and finishes with the dissolve effect after
the battle is over to transition to Ben-Hur and the Admiral being stranded in the ocean. William
Wyler used the dissolve feature multiple time throughout the film to transition between locations
and nighttime and daytime, I really enjoy this feature because it makes the scenes flow smoothly
instead of just abruptly cutting off. Another interesting thing added into the film is an
intermission because the length of the film, this gives time to get a drink or more popcorn and
something I have only seen down in very few films. The dir ...
1 FIN 2063 INSURANCE FINANCIAL PLANNING Case AsSilvaGraf83
1
FIN 2063
INSURANCE FINANCIAL PLANNING
Case Assignment
Due Dates: Part I - Week 10 Part II - Week 12
Value: Part 1 – 10% Part II – 10% Total - 20% of final grade
1. This assignment represents a real client scenario. Create a report.
a. Read the case, the requirements and the marking rubric.
2. Your report must be typed, double-spaced in Times New Roman 12 or Arial/Calibri 11.
On the title page, include your name and student number.
3. As this is project is very similar in nature to a real life insurance planning scenario, present
your report just as you feel you would present a real life insurance planning
recommendation to a real life client.
4. The requirements at the end of the case indicate the expectations for your report, as does
the marking rubric.
Marks will be lost if your recommendations do not adequately meet or are not clearly
aligned with the clients’ goals. If due to lack of clarity or insufficient information you feel it
necessary to make an assumption, state the assumption in your report. That said, do not
assume the case away.
5. Although you may discuss this with other individual in the class, your report must be
unique. Any copying will result in a grade of zero.
2
Client Situation
You are a financial planner with a specialty in risk management. You’ve completed the LLQP and
are licensed to sell insurance products. You love your career and have built a successful practice
based mainly on referrals from your satisfied clients.
Jack, age 49, and Jill, age 48, are one of those referrals. Jack is Vice-President of Marketing at a
mid-sized systems firm. His salary is $190,000 + bonus. Last year his bonus was $40,000. Jill is
an accountant in private practice. She works from home and typically bills $150,000 a year
(roughly $100,000 after expenses). They feel pretty comfortable financially but have asked you to
flag any gaps that you can see in their risk management strategy. They also have specific questions
that they’d like you to address.
Jack and Jill are married with two children who live at home: Tracey, age 22 and Travis, age 17.
Jill’s mother, Lauren age 75, is widowed. Although she is financially independent, she moved in
with Jill and her family after the recent death of her husband. She contributes to the family’s
expenses and is especially devoted to her granddaughter, Tracey.
Tracey, a happy and outgoing woman, was born with Down Syndrome, a common genetic
disorder. Otherwise, Tracey is in good health and could easily live to age 60. Jack and Jill would
like to keep Tracey at home as long as possible but they are concerned about her ability to adapt if
one or both of them dies unexpectedly. As a result, they’re considering moving her into a group
home in their city. The group home provides full support to residents. The fee for this year is
$58,250. Tracey has seen the place and likes it, in no small part b ...
1 Faculty of Science, Engineering and ComputiSilvaGraf83
1
Faculty of Science, Engineering and Computing
CE7011 Management of Project, Risk, Quality and Safety
Reassessment Pack
April 2021
Content
Page No
Teaching Team 2
Assessment Summary 2
Health and Safety and Quality On line Test 3
Project Risk Management (PRM) Coursework 6
Assessment Submission and Feedback Form 12
Group Coursework Grade and Feedback Form 13
Individual Coursework Grade and Feedback Form 14
2
Faculty of Science, Engineering and Computing
Module Assessment Pack 2019/20
CE7011 Management of Project, Risk, Quality and Safety
Teaching Team
Staff Name Room Extension Contact: Email/Office hours
Module
Leader
Lecturer
Behrouz Zafari (BZ)
Diyana Binti Abd Razak (DR)
Illona Kusuma (IK)
Cliff Dansoh (CD)
Hasan Haroglu (HH)
PRMB1044
PRMB1057
PRMB1026
RV MB 212
PRMB1045
64820
[email protected]
Term-time office hours:
Tuesday: 16:00 – 17:30
Thursday: 16:00 – 17:30
[email protected]
[email protected][email protected][email protected]
Assessment Summary
Type Weight Set date Due date
Mark
by
Mark/work
return date
In-course
assessment
Examination
On-line test
(In-class)
30% 19 April
21
19 April
21
BZ 20 working
days after
submission
Written
assignment
70% 9 April 21
26 April
21
BZ 20 working
days after
submission
Examination No examination
mailto:[email protected]
mailto:[email protected]
mailto:[email protected]
mailto:[email protected]
mailto:[email protected]
3
Faculty of Science, Engineering & Computing
School of Natural and Built Environments
Department of Civil Engineering
CE7011 Management of Project, Risk, Quality and Safety
Assessments
Health and Safety and Quality On line Test
The online H&S and Quality test – will be available on Study Space under
assessments.
Date and Time of Test: Monday 19 April 2021, 9.00 am
Learning outcomes covered:
• Understand and contract toe roles of various parties in the successful
collaborative management of health and safety during both design and
construction phases of construction.
• Evaluate likelihood and impact of risk occurrence and procedures to manage
those risks, including health and safety risk.
• Appraise quality management techniques.
Instructions for taking the online test
The test is to be taken individually on-line, as per the timetable in the module
assessment pack. It will be available via Canvas/VLE. Once started, the test has to
be finished at one sitting. The maximum duration of the test is 80 minutes.
The test will be an open book test i.e. you can refer to notes books etc.
If your access to the University computer system is blocked or suspended for any
reason (e.g. financial) during the test tim ...
1
EARLY CHILDHOOD AND
CHILD DEVELOPMENT
Lesson Plan Handbook
Developed by Kristina Bodamer and Jennifer Zaur
September 2014
2
TABLE OF CONTENTS
About This Handbook 3
Lesson Plan Template 4
Goals 5
Objectives 6
Standards 7
Materials 11
Introduction 12
Lesson Development 14
Differentiation 16
Assessment 18
Closing 20
Sample Academic Lesson 21
Sample Developmental Lesson 23
Lesson Planning Resources 25
References 27
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ABOUT THIS HANDBOOK
Purpose of the Handbook
This handbook was developed to provide Ashford University Early Childhood Education and
Child Development students with a resource to utilize when creating effective lesson plans.
Educators must be able to create an effective lesson plan so they can successfully teach
children the developmental and academic skills they need to grow, develop, and learn. As
Kostelnik, Rupiper, Soderman, & Whiren (2014) explain, “Planning is a mental process, and a
lesson plan is the written record of that process” (p. 81).
Design of the Handbook
“A lesson plan is the instructor’s road map of what students need to learn and how it will be
done effectively” (Milkova, 2014, para. 1). This handbook is your “road map” to creating
effective lesson plans. Each section of the handbook will serve as a different stop along your
journey. With each stop you make, you will gain important information about a component
of a lesson plan: what it is, its purpose, how to effectively develop each section of the lesson
plan, and concrete examples that model the individual sections. By the end of your trip, you
will be able to create effective lesson plans that will allow your students to learn the
developmental and academic skills they need to master. So, pack your bags and come along
for a fun and informative ride.
4
LESSON PLAN TEMPLATE
Content Area or Developmental Focus:
Age/Grade of Children:
Length of Lesson:
Goal
Objective
Standards Included
Materials
Introduction
Lesson Development
Differentiation
Assessment
(Practice/Check for
Understanding)
Closing
5
GOALS
What is a lesson goal?
A lesson goal guides the direction of the lesson. “Goals come from an outside source [such
as] a text, program goals, or state standards”(Kostelnik et al., 2014, p. 85 ). The goal is a
broad, general statement that tells you what you want your students to do when the lesson
is complete. Think of the goal of the lesson as a target that you are trying to reach. The goal
of the lesson should provide the framework for you to create a more detailed and
measurable learning objective.
Why are lesson goals important?
Lesson goals are important for s ...
1 Case Grading Procedure Your grade from each case SilvaGraf83
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Case Grading Procedure
Your grade from each case analysis is determined using the following assessment rubrics:
Ethical Decision-Making Rubric - EDR
School of Business Writing Assessment Rubric – WAR
Review each of the rubrics below to see what is expected of you.
Your grade will be calculated as follows:
𝑃𝑒𝑟𝑐𝑒𝑛𝑡 𝐺𝑟𝑎𝑑𝑒 = 0.85 (
𝑃𝑜𝑖𝑛𝑡𝑠 𝑒𝑎𝑟𝑛𝑒𝑑 𝑜𝑛 𝑡ℎ𝑒 𝐸𝐷𝑅
50
) + 0.15 (
𝑃𝑜𝑖𝑛𝑡𝑠 𝑒𝑎𝑟𝑛𝑒𝑑 𝑜𝑛 𝑡ℎ𝑒 𝑊𝐴𝑅
70
)
The total case grade will be out of 50 points.
𝑇𝑜𝑡𝑎𝑙 𝑃𝑜𝑖𝑛𝑡𝑠 𝑜𝑛 𝐴𝑠𝑠𝑖𝑔𝑛𝑚𝑒𝑛𝑡 = 𝑃𝑒𝑟𝑐𝑒𝑛𝑡 𝐺𝑟𝑎𝑑𝑒 × 50
2
Ethical Decision-Making Rubric
Evaluators are encouraged to assign a zero to any work sample or collection of work that does not meet minimum performance levels.
Case Analysis Steps Standards Points
Ethical Issues:
Issue Identification All ethical issues are
properly identified (4
points)
Most ethical issues are
properly identified (3
points)
Some ethical issues are
properly identified (2 – 1
points)
No ethical issue is
properly identified (0
points)
Issue Definitions/Descriptions
and Factual Support
Of those ethical issues
identified, all are
adequately defined/
described and supported
by case facts (6 points)
Of those ethical issues
identified, most issues
identified are adequately
defined/ described and
supported by case facts (5
– 4 points)
Of those ethical issues
identified, some issues
identified are adequately
defined/ described and
supported by case facts (3
– 1 points)
No issue identified is
adequately
defined/described and
supported by case facts (0
points)
Stakeholder Analysis:
Stakeholder Identification All key stakeholders are
properly identified (6
points)
Most key stakeholders are
properly identified (5 – 4
points)
Some key stakeholders are
properly identified (3 – 1
points)
No key stakeholder is
properly identified (0
points)
Identification of Stakes Of those stakeholders
identified, all important
stakes are properly listed
(4 points)
Of those stakeholders
identified, most important
stakes are properly listed
(3 points)
Of those stakeholders
identified, some important
stakes are properly listed
(2 – 1 points)
Of those stakeholders
identified, no important
stakes are properly listed
(0 point)
Ethical Decisions
All short- and long-term
ethical issues are resolved
through the use of ethical
decisions (10 points)
Most short- and/or long-
term ethical issues are
resolved through the use
of ethical decisions (9 – 6
points)
Some short- and/or long-
term ethical issues are
resolved through the use
of ethical decisions (5 – 1
points)
Alternate decisions or
unethical decisions are
used to attempt to resolve
the ethical issues
identified (0 points)
Nonconsequentialist Analysis:
Subcharacteristic Identification
and Definition
Four of t
1 Kilimanjaro is a snow-covered mountain 19,710 feet hiSilvaGraf83
1
Kilimanjaro is a snow-covered mountain 19,710 feet high, and is said to be the highest mountain in Africa.
Its western summit is called the Masai "Ngaje Ngai," the House of God. Close to the western summit there
is the dried and frozen carcass of a leopard. No one has explained what the leopard was seeking at that
altitude.
The Snows of Kilimanjaro
By Ernest Hemingway, 1938
THE MARVELLOUS THING IS THAT IT S painless," he said. "Tha 's ho o kno
when it starts."
"Is it really?"
"Absolutely. I'm awfully sorry about the odor though. That must bother you."
"Don't! Please don't."
"Look at them," he said. "Now is it sight or is it scent that brings them like that?"
The cot the man lay on was in the wide shade of a mimosa tree and as he looked out past
the shade onto the glare of the plain there were three of the big birds squatted obscenely,
while in the sky a dozen more sailed, making quick-moving shadows as they passed.
"They've been there since the day the truck broke down," he said. "Today's the first time
any have lit on the ground. I watched the way they sailed very carefully at first in case I
ever wanted to use them in a story. That's funny now.""I wish you wouldn't," she said.
"I'm only talking," he said. "It's much easier if I talk. But I don't want to bother you."
"You know it doesn't bother me," she said. "It's that I've gotten so very nervous not being
able to do anything. I think we might make it as easy as we can until the plane comes."
"Or until the plane doesn't come."
"Please tell me what I can do. There must be something I can do.
"You can take the leg off and that might stop it, though I doubt it. Or you can shoot me.
You're a good shot now. I taught you to shoot, didn't I?"
"Please don't talk that way. Couldn't I read to you?"
2
"Read what?"
"Anything in the book that we haven't read."
"I can't listen to it," he said." Talking is the easiest. We quarrel and that makes the time
pass."
"I don't quarrel. I never want to quarrel. Let's not quarrel any more. No matter how
nervous we get. Maybe they will be back with another truck today. Maybe the plane will
come."
"I don't want to move," the man said. "There is no sense in moving now except to make it
easier for you."
"That's cowardly."
"Can't you let a man die as comfortably as he can without calling him names? What's the
use of clanging me?"
"You're not going to die."
"Don't be silly. I'm dying now. Ask those bastards." He looked over to where the huge,
filthy birds sat, their naked heads sunk in the hunched feathers. A fourth planed down, to
run quick-legged and then waddle slowly toward the others.
"They are around every camp. You never notice them. You can't die if you don't give up."
"Where did you read that? You're such a bloody fool."
"You might think about some one else."
"For Christ's sake," he said, "that's been my trade."
He lay then and was quiet for a while and looked across the ...
1
Assignment 2 Winter 2022
Problem 1
Assume you have the option to buy one of three bonds. All have the same degree of default risk
and mature in 15 years. The first is a zero-coupon bond that pays $1,000 at maturity. The
second has a 7 percent coupon rate and pays the $70 coupon once per year. The third has a 9
percent coupon rate and pays the $90 coupon once per year.
a. If all three bonds are now priced to yield 8 percent to maturity, what are their prices?
b. If you expect their yields to maturity to be 8 percent at the beginning of next year, what will
their prices be then? What is your before-tax holding period return on each bond? If your tax
bracket is 30 percent on ordinary income and 20 percent on capital gains income, what will
your after-tax rate of return be on each? Assume you do not sell the bonds.
c. Recalculate your answer to (b) under the assumption that you expect the yields to maturity on
each bond to be 7 percent at the beginning of next year.
d. Re-do the calculations in parts b and c above, assuming you will sell the bonds at the end of the
year.
Problem 2
A University endowment fund has sought your advice on its fixed-income portfolio strategy.
The characteristics of the portfolios current holdings are listed below:
Market
Credit Maturity Coupon Modified Value of
Bond Rating (yrs.) Rate (%) Duration Convexity Position
A Cnd. Govt. 3 0 2.727 9.9 $30,000
B A1 10 8 6.404 56.1 $30,000
C Aa2 5 12 3.704 18.7 $30,000
D Agency 7 10 4.868 32.1 $30,000
E Aa3 12 0 10.909 128.9 $30,000
$150,000
a) Calculate the modified duration for this portfolio.
b) Suppose you learn that the modified duration of the endowment’s liabilities is 6.5 years.
Identify whether the bond portfolio is: i) immunized against interest rate risk, ii) exposed to net
price risk, or iii) exposed to net re-investment risk. Briefly explain what will happen to the net
position of the endowment fund if in the future there is a significant parallel upward shift in the
yield curve.
c) Your current active view for the fixed income market over the coming months is that Treasury
yields will decline and corporate credit spreads will also decrease. Briefly discuss how you
could restructure the existing portfolio to take advantage of this view.
2
Problem 3
A 20-year maturity bond with a 10% coupon rate (paid annually) currently sells at a yield to
maturity of 9%. A portfolio manager with a 2-year horizon needs to forecast the total return on
the bond over the coming 2 years. In 2 years, the bond will have an 18-year maturity. The analyst
forecasts that 2 years from now, 18-year bonds will sell at yield to maturity of 8%, and that
coupon payments can be reinvested in short-term securities over the coming 2 years at a rate of
7%.
a) What is the 2-year return on the bond
b) What will be the rate of return the manager forecasts that in 2 years the yiel ...
1
COU 680 Adult Psychosocial Assessment Sabrina
Date of appointment: Today Time of appointment: 5:00 pm
Client Name: Sabrina Hinajosa Age: 29 DOB: 3/23/89
Gender: Male Female Transgender Preferred Name/Nickname: N/A
Ethnicity: Hispanic Non‐Hispanic Race: Caucasian
Current Marital/Relationship Status: Single Married Divorced Widowed Domestic Partnership
Name of Person completing form: Sabrina Relationship to client: Self
PRESENTING PROBLEM (Briefly describe the issues/problems which led to your decision to seek therapy services):
I recently lost my mother-in-law to a sudden heart attack immediately prior to the recent hurricane. Within a matter
of a single day I lost the mother figure in my life, was evacuated from my home, and had a hurricane destroy parts
of my house. I’m completely overwhelmed, sad, and angry at the world.
How severe, on a scale of 1‐10 (with 1 being the most severe), do you rate your presenting problems?
MOST SEVERE 1 2 3 4 5 6 7 8 9 10 LEAST SEVERE
PRESENTING PROBLEM CATEGORIZATION: (Please check all the apply and circle the description of symptom)
Symptoms causing concern, distress or impairment:
Change in sleep patterns (please circle): sleeping more sleeping less difficulty falling asleep
difficulty staying asleep difficulty waking up difficulty staying awake
Concentration: Decreased concentration Increased or excessive concentration
Change in appetite: Increased appetite Decreased appetite
Increased Anxiety (describe): I have a lot of fear of the unknown. Everything feels out of my control.
Mood Swings (describe): I’m irritable all of the time. I go back and forth between extreme bouts of sadness
and complete anger and rage at the situation. The only place I feel calm is with my kids
and only because I really focus on making sure they are ok.
Behavioral Problems/Changes (describe): I struggle to stay focused on anything other than taking care of
my kids. I feel aimless and purposeless and have stopped putting forth much effort at work or in our home.
Everything just seems both overwhelming and pointless.
Victimization (please circle): Physical abuse Sexual abuse Elder abuse Adult molested as child
Robbery victim Assault victim Dating violence Domestic Violence
Human trafficking DUI/DWI crash Survivors of homicide victims
Other:
2
Other (Please describe other concerns):
How long has this problem been causing you distress? (please circle)
One week One month 1 – 6 Months 6 Months – 1 Year Longer than one year
How do you rate your current level of coping on a scale of 1 – 10 (with 1 being unable to cope)?
UNABLE TO COPE 1 2 3 4 5 6 7 8 9 10 ABLE TO COPE
EMPLOYMENT:
Currently Employed? Yes No If employed, what is your occupation? Bank teller
Where are you working? XYZ Bank
How long? 3 Days/Months/Years
Do you enjoy your current job? Yes No What do you like/ ...
1 Literature Review on How Biofilm Affect theSilvaGraf83
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Literature Review on How Biofilm Affect the Patient Recovery at the Hospital
Student’s Name
Professor’s Name
Course Name
Date
2
Introduction
Regulating biofilms for injury and insertion can have a variety of adverse effects on
patient well-being, including delayed recovery and implant evacuation. Biofilm drugs currently
do not completely destroy or prevent microbial colonization, indicating the need for further
research. The final review of drugs for biofilms focuses on components of nanotechnology-based
drug delivery, combination therapy, and coupling repair. Ultrasonic cleaning and hydrogels, as
well as recent improvements in incorporation, have great potential for use in discrete trauma and
medicine applications. This study reviews various literatures on the development of
microorganisms in biofilms and how it affects patient recovery at the hospital.
Patients with biofilms wounds excrete various microbes from their own skin and current
state, and if they receive hospitalization for treatment, they are likely to receive MRE and HAI
from surfaces, patients, staff, and emergency department equipment (Wu et al., 2018). This
literature states that such patients have high levels of biofilm contamination for biofilm reduction
applications in consuming patients include silver and various metals. Other elements indicating
this condition include disinfectants, hydrogels, light and sonic treatments to initiate atomic
sensitization to deliver dynamic oxygen (Wu et al., 2018). Small particles of these contaminants
allow penetration into the dividing layer of cells, glycans, lactobacilli and treatment with phages.
Other scholars such as Muhammad et al. (2020) and Barzegari et al. (2020) assert that the
accumulation of microorganisms can be immobile and live and attached to the surface. The
regimen of this group of people is not the same as that of planktonic development, where
microorganisms are isolated and flexible in environment (Muhammad et al., 2020). Cecillus cells
differ from planktonic cells in their morphology, physiology and qualitative articulation. The
ability to adhere to and thrive on surfaces such as biofilms is a gradual survival process that
3
allows microorganisms to colonize the zone (Muhammad et al., 2020). Microbes are constantly
changing from planktonic aggregates to sedentary ones. This variety of conditions is key for cells
as they allow rapid changes in their natural state.
Wound swelling can be characterized as the ability of microorganisms to thrive when
antimicrobial compounds are present in the climate. The obstructive component is hereditary and
prevents the antitoxin from working for its purpose (Barzegari et al., 2020). This literature
indicates that the term resistance should be used for microbes that may be caused by high-class
antibiotics but whose development is delayed. This element, which explicitly describes the life ...
1
Canterbury Tales
(c. 12th century)
What do I need to read?
“The Canterbury Tales General Prologue”
“The Miller’s Prologue and Tale”
“The Wife of Bath’s Prologue and Tale”
“The Pardoner’s Prologue and Tale”
Who is the author?
Geoffrey Chaucer (1343 – 1400). Called the Father of the English Language as well
as the Morning Star of Song, Geoffrey Chaucer, after six centuries, has retained
his status as one of the three or four greatest English poets. He was first to
commit to lines of universal and enduring appeal a vivid interest in nature, books,
and people.
As many-sided as Shakespeare, he did for English narrative what Shakespeare did
for drama. If he lacks the profundity of Shakespeare, he excels in playfulness of
2
mood and simplicity of expression. Though his language often seems quaint, he was
essentially modern. Familiarity with the language and with the literature of his
contemporaries persuades the most skeptical that he is nearer to the present than
many writers born long after he died.
---Courtesy of Compton’s Learning Company
Background Lecture
Chaucer’s father, an influential wine merchant, was able to secure Geoffrey a
position as a page in a household connected to King Edward III. Chaucer’s duties as
a page were humble, but they allowed him the opportunity to view the ruling
aristocracy, thus broadening his knowledge of the various classes of society. While
serving in the English army, Chaucer was captured and held prisoner in France.
After his release, he held a number of government positions.
While in his twenties, Chaucer began writing poetry, and he continued to write
throughout his life. Over the years, his writing showed increasing sophistication
and depth, and it is recognized as presenting penetrating insights into human
character. In The Canterbury Tales, critics say that the author shows an absolute
mastery of the art of storytelling.
The Canterbury Tales are also said to present “a cavalcade of fourteenth-century
English life” because on this pilgrimage to Canterbury the reader gets to meet a
cross-section of the people from Chaucer’s time.
Canterbury, located about fifty miles southeast of London, was a favorite
destination for pilgrims. In fact, Chaucer himself made a pilgrimage there. While
he did not set out on the pilgrimage looking for material to use in his writing, he
was so impressed by the mix of company that he had met at the Tabard Inn that
he was inspired to write what was to become his masterpiece.
3
Selected Canterbury Tales Terms and Definitions
Allegory - a story that represents abstract ideas or moral qualities. As such, an
allegory has both a literal level and a symbolic level of meaning. Example: Gulliver’s
Travels.
Allusion - a reference to a person, place, poem, book, or movie outside of the story
that the author expects the reader will recognize.
Fable - ...
1 Math 140 Exam 2 COC Spring 2022 150 Points SilvaGraf83
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Math 140 Exam 2
COC Spring 2022
150 Points
Question 1 (30 points)
Match the following vocabulary words in the table below with the corresponding definitions.
Confidence Interval Hypothesis Test Standard Error Alternative Hypothesis
Randomized Simulation Random Sample Random Assignment Random Chance
Population Sampling Variability Significance Level Type II Error
One-Population Mean
T-Test Statistic
Quantitative Data One-Population
Proportion Z-Test
Statistic
Categorical Data
Critical Value Statistic Parameter Census
Type I Error Bootstrap Distribution Margin of Error Beta Level
Bootstrapping Null Hypothesis P-value Point Estimate
a. A number we compare our test statistic to in order to determine significance. In a sampling
distribution or a theoretical distribution approximating the sampling distribution, the critical
value shows us where the tail or tails are. The test statistic must fall in the tail to be significant.
b. Also called the Alpha Level. If the P-value is lower than this number, then the sample data
significantly disagrees with the null hypothesis and is unlikely to have happened by random
chance. This is also the probability of making a type 1 error.
c. A statement about the population that does not involve equality. It is often a statement about a
“significant difference”, “significant change”, “relationship” or “effect”.
d. The collection of all people or objects you want to study.
e. A number calculated from sample data in order to understand the characteristics of the data.
f. When biased sample data leads you to support the alternative hypothesis when the alternative
hypothesis is actually wrong in the population.
g. Another word for sampling variability. The principle that random samples from the same
population will usually be different and give very different statistics.
h. Data in the form of numbers that measure or count something. They usually have units and
taking an average makes sense.
i. Taking many random samples values from one original real random sample with replacement.
j. Collecting data from everyone in a population.
2
k. Collecting data from a population in such a way that every person in the population has an
approximately equal chance of being chosen. This technique tends to give us data with less
sampling bias.
l. The probability of getting the sample data or more extreme because of sampling variability (by
random chance) if the null hypothesis is true.
m. The sample proportion is this many standard errors above or below the population proportion in
the null hypothesis.
n. Take a group of people or objects and randomly put them into two or more groups. This is a
technique used in experiments to create similar groups. Similar groups help to control
confounding variables so that the scientist can prove cause and effect.
o. Data in the form of labels that tell us something about the people ...
1 Lessons from the past How the deadly second waveSilvaGraf83
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Lessons from the past: How the deadly
second wave of the 1918 ‘Spanish flu’
caught Dallas and the U.S. by surprise
Health concerns about the 2020 coronavirus pandemic are rooted in the
catastrophic second wave of the 1918 pandemic, which hit between
September and November of that year.
By David Tarrant
9:00 AM on Jul 3, 2020
https://www.dallasnews.com/news/2020/07/03/lessons-from-the-past-how-the-deadly-second-
wave-of-the-1918-spanish-flu-caught-dallas-and-the-us-by-surprise/
Illustration by staff artist Michael Hogue.(Michael Hogue / Michael Hogue illustration)
As August gave way to September of 1918, few people were thinking about the
influenza that would soon sweep across Texas and the rest of the country with the speed and
deadly ferocity of a firestorm.
There had been a relatively mild version of the virus in the spring of that year, mostly
affecting troops mobilizing to go off to World War I over in Europe. But by summer the disease
known at the time as the Spanish flu had been largely forgotten.
The front pages of The Dallas Morning News were dominated by news of American troops
pouring into Europe for what would come to be known as World War I.
But that would quickly change. By the end of September, a second wave of the flu, far
deadlier, would sweep across the country, hitting Dallas and other large cities hard.
When health experts worry about the course of the 2020 coronavirus pandemic, they
often look back at the second wave of the 1918 pandemic, between September and November,
https://www.dallasnews.com/author/david-tarrant
2
when influenza cases overwhelmed hospitals and medical staffs across the country and the dead
piled up faster than they could be buried.
In Dallas that year, the city’s chief health officer, A.W. Carnes, waved off the fast-
approaching pandemic as not much more than the common cold. In a major blunder, he permitted
a patriotic parade in late September that attracted a cheering crowd of thousands jammed
together downtown.
Cases of influenza promptly spiked.
The second wave would produce most of the deaths of the pandemic, which experts now
estimate at 50 million to 100 million worldwide. In the United States, 675,000 people died from
the virus.
The Dallas Morning News on Sept. 27, 1918, reported the rapid spread of the Spanish flu. Despite the worsening
conditions, Dallas medical officials hesitated to impose restrictions on public gatherings for more than two weeks.
As it did then, the world is struggling with a virus for which there is no vaccine. COVID-19,
the sickness caused by the new coronavirus, has advanced unabated around the world since it first
appeared in China late last year. By the end of June, the number of deaths worldwide exceeded
500,000.
Like the Spanish flu in 1918, the new coronavirus isn’t showing signs of fading away
anytime soon. Texas ended June with alarm lights flashing as new COVID-19 cases set records
daily ...
1 Lockheed Martin Corporation Abdussamet Akca SilvaGraf83
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Lockheed Martin Corporation
Abdussamet Akca
Lockheed Martin Corporation
To: Jack Harris
From: vice president governmental affairs
Date:15 February 2021
Sub: under Lockheed Martin Corporation (overview)
2
I am here to state that this is the overview of Lockheed Martin Corporation and Jack
Harris is the CEO of the consulting firm consulted by the CEO of Lockheed Martin Corporation,
crisis consulting.
Business profile
In the contemporary world, there are many challenges facing companies in different
industries in both developed countries and undeveloped countries. There is a great need to
understand the potential risks that may face the business to take care of the shareholder interests,
meet the legitimate consistency, and secure the required resources such as human resources
scholarly and reputational resources. Customers are helped with data by the shareholder value-
added. It also helps in another backup and preparation so that people in the organization are
ready to distinguish risk and so that they can quickly react to crisis consulting (Dove et al.,
2018). The SVAs problem consulting can work with customer administration to identify the
potential turmoil that Lockheed martin corporation is likely to face. The understanding of using
fitting systems and methodologies and the advancement of the same make it possible to oversee
and relieve emergencies through computerized systems. It is possible to utilize and outline
recreations by testing setups and arrangements. Through the operational reviews and the
preparation of potential crises in the Lockheed Martin Corporation, one’s status is also protected.
If the problem exceeds, then the SVAs group can react to the expansive scope of the crisis to
develop the best action to solve these crises.
Crisis consulting international has supplied security and crisis administration to different
organizations such as the Christian evangelist. The concern consulting international has been
helping these groups evaluate risk, improve policy creations, site overviews, and arrange training
staff, crisis administration group, meetings management of occasions, among others. Other
3
activities include risk assessment, prioritization of risks, evaluation, and comprehension of
corporate risk profile. Crisis consulting international uses scientific procedures to prepare
customers in perceiving and measuring risks to understand the effect of these risks so that they
can use the available methodologies to oversee risk and avoid it (Davies, 2019). SVA is used in
the business impact assessment process to break down the business with the end goal in mind.
That builds up top to bottom comprehension of recognizing the primary regions primarily
dependent on the company. This audit aims to establish more extensive deterrent ways of risk
arrangements and prepare programs. SVA can also be incorporated with working wit ...
1 Lab 9 Comparison of Two Field Methods in a ScienSilvaGraf83
1
Lab 9: Comparison of Two Field Methods in a
Scientific Report/Paper Format
Minimum Content of the Scientific Report
Title
The title should be a brief summary statement about your paper. Your title will be what
is most commonly cited and will be the “target” of topical searches via the internet.
Choose your words carefully. As short and as concise a title as possible is best.
Each student will come up with the title! You might consider waiting until after
completing the report to finalize the title.
Abstract
Think of the abstract as a short summary of your paper that could stand-alone as a
publication. The abstract should include, in order: a summary of the introduction,
methods, results, and discussion. However, you may include only key results and key
discussion points in the abstract. Do not include reference to figures and tables, and
don’t use abbreviations. Don’t include references in the abstract. This is the hardest
section of the paper to write, and should be written after you complete the other
sections.
Minimum of 200 and maximum of 300 words in a single-paragraph format.
Introduction
The introduction should include a detailed explanation about why you are doing the
study, i.e., the basis for your study.
This section should include observations or results from previous studies that support
the basis for your study, but not the results or discussion or conclusions drawn from the
results of your project.
Follow these observations or results from previous studies with the questions or
hypotheses of your study.
The introduction should end with a brief paragraph that summarizes the setting, scope,
and justification or importance of the study. This is a lead-in paragraph to the rest of the
paper.
Minimum of 1/2 page of text in length with one or more paragraphs.
2
Methods
Write the methods in the past tense.
This should be a detailed, step-by-step, description of how you did the study.
Include details on the equipment and materials used (see list below).
Include the approach to data analysis and cite any statistical or other applications used
to input, manage, graph, or analyze the data.
Include citations for any standard or previously published methods used.
Write this section with enough detail that someone else could duplicate your study or
conduct a similar study with only your methods section available.
Include a map showing the location, sampling area, and plot and belt transect in the
sampling area.
Minimum of one page of text in length with multiple paragraphs.
Results
This the “what you got” section.
Write the results in the past tense.
This sections includes any data or results tables and graphs you have.
This is a summary of your key results from data, graphs, and/or results of statistical
analyses.
You are not required to include a statistical analysis(-es).
You ar ...
1 LAB MODULE 5 GLOBAL TEMPERATURE PATTERNS Note PSilvaGraf83
1
LAB MODULE 5: GLOBAL TEMPERATURE PATTERNS
Note: Please refer to the GETTING STARTED lab module to learn how to maneuver
through and answer the lab questions using the Google Earth ( ) component.
KEY TERMS
You should know and understand the following terms:
Air temperature Heat index Temperature anomalies
Altitude Kelvin (K) Temperature averages
Ambient temperature Latitude Thermopause
Axial Tilt Maritime effect Thermosphere
Celsius (C) Mesopause Tropopause
Continentality, or
Continental effect
Mesosphere Troposphere
Stratopause Urban heat island
Environmental Lapse Rate Stratosphere Urban heat island effect
Exosphere Structure of the atmosphere Wind chill
Fahrenheit (F) Surface temperature
LAB MODULE LEARNING OBJECTIVES
After successfully completing this module, you should be able to the following
tasks:
Describe the differences between air and surface temperature
Explain heat index and wind chill
Explain the urban heat island effect
Describe the structure of the atmosphere
Describe large scale factors influencing temperature
Describe local factors influencing temperature
2
INTRODUCTION
This lab module explores the global surface and air temperatures of Earth and
Earth’s atmosphere. Topics include the structure of the atmosphere, local and
global factors influencing temperature, and temperature anomalies. The modules
start with four opening topics, or vignettes, which are found in the accompanying
Google Earth file. These vignettes introduce basic concepts of the internal structure
of the Earth. Some of the vignettes have animations, videos, or short articles that
will provide another perspective or visual explanation for the topic at hand. After
reading the vignette and associated links, answer the following questions. Please
note that some links might take a while to download based on your Internet speed.
Expand the INTRODUCTION folder.
Read Topic 1: Surface and Air Temperature
Question 1: How do the surface temperatures of the countries in the
northern latitudes (for example, Canada, Iceland, Norway, and Russia)
compare to those of northern Africa (for example, Algeria, Egypt, Libya,
Morocco, and Sudan)?
A. The temperatures are higher in the northern latitudes during summer
months when net radiation is higher.
B. The temperatures are lower in north Africa during the summer months
when net radiation is higher in northern latitudes.
C. Temperatures are lower in northern latitudes year-round.
D. Temperatures are only lower in the northern latitudes during winter
months.
Read Topic 2: Measuring Temperature
Question 2: Considering water freezes (or alternatively, melts) at 0˚C,
determine from the map which countries or landmasses have an annual
mean temperature around 0˚C.
A. Canada and Norway
B. The United States and the United Kingdom
C. Greenland and Antarctica
D. Russia and Antarctica
3
...
1 Instructions for Coming of Age in Mississippi SilvaGraf83
1
Instructions for Coming of
Age in Mississippi
Due Sunday, April 25th, 2021
Late papers will be penalized. Failure to turn in this assignment will result in
the automatic failure of the class.
Anne Moody’s Coming of Age in Mississippi is an autobiographical presentation of
her life and experiences in the segregationist South during the middle third of the
20th Century. Although Moody was intensively involved in the civil rights
movement of the 1950’s and 1960’s, the real value of her autobiography is that she
describes what it was like to grow up in Mississippi long before she became a civil
rights activist.
Your book essay for Coming of Age in Mississippi should explore and discuss the
following topics and questions:
1. Begin with a brief overview of the book: in general, what is it about, who wrote
it, etc.
2. Moody’s decision to become engaged in the political activism central to the
Civil Rights Movement was a result of her experiences at both work and play
growing up in Mississippi. What kinds of incidents from her life led Moody to
become politically active in the movement? For example, what does she notice
about how she is treated as a black person in Southern white society?
3. Women played an important role in Moody’s life. Using examples from her
autobiography, discuss what Moody learned about race, class and sexual
orientation from the women around her. Who were the most important women in
her life? Discuss each and explain why that person was so important.
4. Moody was a participant and observer of some of the most important historical
events of the 1950’s and 1960’s. How did she view and describe these events – for
example, the murder of Emmitt Till, the sit-in protests, the voter registration drive
in Mississippi, Ku Klux Klan activities and the assassination of Medgar Evars and
2
others? In general, what do her descriptions tell you about the struggle for civil
rights?
5. What did you think of this book? Did you like it/ not like it? Explain why.
Writing Instructions:
1. Use the above questions/topics as your paper outline and answer them in the
order they are presented.
2. Use some common sense in how much you write on each topic. The general
overview of the book, for example, can be covered in one relatively brief
paragraph. Other topics may require more extensive coverage. The main body of
your paper should focus on topics 2-4. You should explore those thoroughly and
back up any general comments with specific details that illustrate and support
them. Topics 1 and 5 should be about a paragraph in length.
3. Although I don’t grade in terms of the length of the paper, under most
circumstances I would expect a paper somewhere within the range of 4-5 pages.
As a general rule, it’s better to write more than less.
4. The paper must be typed using a standard word processing program, double-
spaced using norm ...
1
Institutional Assessment Report
2012-13
The primary purpose for assessment is the assurance and improvement of student learning and
development; results are intended to inform decisions about course and program content, delivery,
and pedagogy. The Institutional Assessment Report summarizes annual assessment processes,
results and success indicators at the program, co-curricular, core and institutional levels.
I. Program assessment
A total of 117 degree and certificate programs and 13 co-curricular units assessed student learning
in 2012-13. Assessment reports reside in the Assessment Reporting Management System (ARMS).
Most programs measured multiple learning outcomes and used multiple measures. Direct measures
examine or observe student knowledge, skills, attitudes or behaviors. The most frequently used
direct measures in undergraduate programs are written assignments and locally developed exams,
tests or quizzes. Commonly used direct measures in graduate programs include oral presentations
or exhibition, research papers/projects, and locally-developed exams, tests or quizzes (Table 1).
Table 1: Percent of Academic Programs Reporting Direct Measures in ARMS
Undergraduate Graduate
N = 52 N = 65 (3 certificate)
Standardized instruments 29% 14%
Locally-developed
exam/test/quiz
40% 40%
Essay question on exam 29% 17%
Pre- and post-measures 10% 3%
Written assignment 42% 32%
Portfolio 4% 12%
In-class discussions 10% 11%
Oral presentation or
exhibition
23% 51%
Thesis / Dissertation 32%
Simulations 4% 2%
Formal evaluation of practical
skills
12% 22%
Research paper/project 25% 40%
Final Project 29% 14%
Other 17% 14%
2
Indirect measures evaluate perceived learning, and may be used to supplement direct measures.
Surveys are commonly used indirect measures; in graduate education, student self-assessments are
most frequently used (Table 2).
Table 2: Percent of Academic Programs Reporting Indirect Measures in ARMS
Undergraduate Graduate
Surveys 17% 11%
Interviews or focus groups 2% 2%
Data indicators (job
placement, admission to
graduate education)
4% 9%
Comparisons with peers 4% 3%
Student Self-Assessment 2% 15%
Other 4% 8%
Co-curricular programs, especially those in the Division of Student Affairs, are more likely to
assess student learning and development through self-report (surveys and student self-assessments)
than through direct measures (Tables 3 and 4).
Table 3: Percent of Co-curricular Units1 Reporting Direct Measures in ARMS
(N = 13)
Reflection 15%
Academic written assignment/Research
questions
23%
Exam 8%
Oral presentation 8%
Observations 23%
Supervisor ratings 15%
Performance reviews 8%
Other 31%
Table 4: Percent of Co-curricular Units1 Reporting Indirect Measures in ARMS
Surveys 69%
Student Self-Assessment 62%
Data Indicators 8%
Benchmarks/Compa ...
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
7. AUM/AUA
$ 8.5 B
243%
CET1 CAPITAL
RATIO
8.8 %
2020
(% CHANGE FROM 2019)
Branch-raised deposits
Broker term deposits
Sub debt and capital markets
Securitization
British Columbia
Alberta
Ontario
Remainder
DIVERSIFYING LOANS
BY PROVINCE (%)
FUNDING
DIVERSIFICATION (%)
General commercial loans
8. Personal loans and mortgages
Commercial mortgages
Equipment financing and leasing
Real estate project loans
Oil and gas production loans
DIVERSIFYING LOANS
BY LENDING SECTOR (%)
2020 2020 20202010 2010 2010
STRONG CREDIT QUALITY
Gross impaired loans as a % of gross loans Write-offs as a % of
average loans
Our five-year and
ten-year average
write-offs as a
percentage of
average loans are 23
and 19 basis points,
respectively
CWBFinancialGroup2020AnnualReport|ii
10. 1,000
600
200
0
800
400
16 17 18 19 20
35
30
25
20
15
10
5
0
BOOK VALUE GROWTH AND VALUATION $
05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20
Book value per share — Share price
11. 1 Includes certain non-IFRS measures – refer to definitions and
detail provided on page 20.
WHY INVEST IN CWB?
REVENUE $ MILLIONS DIVIDENDS $/SHAREADJUSTED
EPS $/SHARE
We are the only
full-service bank in
Canada with a focus
to meet the unique
financial needs of
business owners
We are growing our
brand and market
share in Ontario
We are a secured
lender and disciplined
underwriter, proven
by a history of low
write-offs through
economic cycles
Our capital levels
are strong and
stable, with upside
expected with a
successful AIRB
transition
Our enhanced
digital client
experience will
12. support growth
iii | CWB Financial Group 2020 Annual Report
CWB Financial Group 2020 Annual Report | 1
Enhanced Capabilities Provide
Strong Platform for Growth
At CWB Financial Group we take a relationship-based approach
to meet
the unique financial needs of small and medium-sized
businesses and their
owners. We set ourselves apart through proactive client
experiences: our
people know our clients and their industries, we ask the right
questions,
and work to find the right financial solutions. Our core strength
in full-
service business and personal banking is complemented by
targeted
capabilities in deeply knowledgeable and highly-responsive
business lines
offering specialized financing, wealth management and trust
services.
FULL-SERVICE
BUSINESS BANKING
13. We offer our business owner
clients access to a full suite of
financing and cash management
solutions through in-person
and digital channels. Business
owners can streamline their
financial management to focus
on what matters most: growing
their business. Our continuing
investment in digital capabilities
will enhance their experience
even further.
TRUST
SERVICES
We offer a wide variety
of comprehensive trustee
and custodial solutions for
individuals and businesses.
14. FULL-SERVICE
PERSONAL BANKING
We offer our personal clients,
who are often our business owner
clients and their families, access
to a full complement of banking
services through in-person and
digital channels. We just launched
digital client onboarding for our
personal clients.
SPECIALIZED
FINANCING
We offer our clients access
to a differentiated, proactive
client experience through highly
personalized service, specialized
expertise within specific
industries, customized solutions
and faster response times.
15. WEALTH
MANAGEMENT
We offer our clients access
to comprehensive wealth
management approaches for
their personal and business
wealth. Discretionary wealth
management, comprehensive
financial planning and
investment solutions are
available through our boutique
approach delivered within
CWB Wealth Management
and CWB branches.
and
exp
anding digital channelsP
roa
ctiv
e ban
18. E
S
S
B
A
N
K
IN
G
P
E
R
S
O
N
A
L
About Us
CWB Financial Group (TSX: CWB) is the only full-service bank
in Canada with
a strategic focus to meet the unique financial needs of business
owners.
We provide full-service business and personal banking, nation-
wide specialized
financing in targeted industries, comprehensive wealth
19. management offerings,
and trust services. Our teams deliver a uniquely proactive client
experience through
highly personalized service, specialized expertise, customized
solutions and faster
response times. We are thoughtful about everything we do and
believe our success
depends on the responsible creation of value for those who
choose CWB: our
clients, our people, and our investors.
Our Values Our Vision
To be the best
full-service bank for
business owners
in Canada
PEOPLE FIRST
THE HOW
MATTERS
RELATIONSHIPS
GET RESULTS
INCLUSION
HAS POWER
EMBRACE
THE NEW
Caring people are the key to our
success. We work as a team and
support one another. We always treat
20. each other with respect and have the
courage to be candid.
How we do things is as important as
what we do. We take ownership, and
move with urgency and efficiency. We
always act with integrity, and balance
risk and reward.
Clients choose CWB for the best
experience. We build relationships
proactively, with intention and
consistency. Our results depend on it.
Diverse teams unleash new ideas and
perspectives. We are aware of our
own biases. We are proud of who
we are, and we are allies for those
around us.
Change is everywhere. We seek out
new ideas and are committed to
continuous learning. We know that
better is always possible.
Five Year
Financial
Summary
Performance
Dashboard
Message From
President
& CEO
21. Message From
Chair of
the Board
Management’s
Discussion and
Analysis
Consolidated
Financial
Statements
Shareholder
Information
i
ii
4
16
18
67
114
TABLE OF
CONTENTS
2 | CWB Financial Group 2020 Annual Report
22. Transformation Priorities Growth Accelerators
BUILD ON OUR
STRENGTHS
TRANSFORMING
OUR BUSINESS
TO CREATE
UNIQUE VALUE
AND DELIVER
BREAKOUT GROWTH
• Targeted digital capabilities
• Client-focused operating model
• Fast, smooth, scalable processes
• Transition to AIRB methodology for
capital and risk management
• Brand: bolder and more visible to cut
through the noise
• Culture: proactive, client-focused,
and change-ready to align with our
strategy
A proactive client experience through in-person and digital
channels
Personalized service, specialized industry expertise, customized
solutions,
faster response times
23. A disruptive force in Canadian financial services, and a clear
full-service
alternative for Canadian business owners
OUR CLIENTS
Unrivaled customer experience
OUR PEOPLE
Destination for top talent
OUR INVESTORS
Optimize our business
Our Strategy
Creating value for the people who choose CWB every day
We are expanding to meet the needs of business owners with
our first full-service banking centre in Ontario. Mark Stafford,
Vice President and District Manager; Fatima Paulo, Manager
Sales and Service; and Aneil D’Lima, AVP, Commercial
Accounts,
along with the CWB team bring premium service, advice and
partnership to Mississauga.
CWB Financial Group 2020 Annual Report | 3
MESSAGE FROM
PRESIDENT AND CEO
Chris
Fowler
4 | CWB Financial Group 2020 Annual Report
24. O PEN ED D O O R S TO O PP O R T U N I T Y
It would be an understatement to characterize fiscal 2020 as
challenging.
This year tested our collective strength and resilience. I’m so
proud of the
way our teams rose to face the challenges from the pandemic
through
our #CWBhasyourback program where we quickly adapted to
support
our clients and each other at every step. We strengthened
existing client
relationships through the turmoil, and found opportunities to
start new
relationships with clients who wanted to feel this same
experience. Thanks
to the tremendous effort of our teams we were able achieve all
of this,
continue to advance our strategic priorities, and deliver solid
financial
results against an unprecedented economic backdrop.
We know that the current economic volatility will pass, and
with that will
come many doors opened to new and exciting opportunities. Our
strategic
execution over the past several years has positioned CWB to be
stronger
and more resilient than ever. We will continue to aspire to be
the best
full-service bank for business owners in Canada and capitalize
on the
tremendous opportunity in front of us.
25. D E S T I N AT I O N FO R TO P TA L EN T
This year, CWB was recognized as one of the 50 Best
Workplaces in Canada™
and one of the Best Workplaces™ in Financial Services and
Insurance. These
achievements are rewarding as they are based on confidential
feedback
directly from our people, who have worked so hard to
proactively support
each other and thousands of clients navigate this ongoing period
of
uncertainty.
There is no question our people are a core competitive strength
and it is
critical that CWB remain a destination for top talent. We
believe the best
approach is to live our values – these are more than ‘words on
the wall’ to
us. With our People First core value firmly in mind, our top
priority through
the pandemic has been to protect the physical and psychological
health and
safety of our people and our clients. We took significant steps
to ensure our
people have the flexibility, resources and support they need. We
increased
our mental health and wellness support, through investments in
our health
benefits, time off provisions and employee tools and resources.
At CWB, we believe in our core value that Inclusion Has Power.
This
value confirms we reach our true potential by attracting top
26. talent of all
backgrounds through welcoming new ideas and perspectives.
Events across
North America this summer highlighted the challenges people
continue to
face in our communities due to systemic racism. In response to
these events
we acknowledged our gaps and our own commitments. We
reflected on
how we can positively contribute to change, and chose to tackle
the work
we need to do with intention. I personally signed the
BlackNorth CEO
Pledge and we committed to have Black, Indigenous and
racialized people
comprise at least 5% of our Executive Committee by 2025, and
we now aim
to have women comprise at least 30% of the Executive
Committee. These
composition targets will make us even stronger and more
prepared for the
opportunities and challenges of tomorrow.
U N R I VA L ED C L I EN T E XPER I EN C E
Our commitment to our clients did not waiver and our actions
cemented
strong relationships for years to come. At the outset of the
pandemic,
we launched our #CWBhasyourback campaign, to deliver
proactive and
individualized advice and support to our clients. From the start,
we efficiently
processed payment deferral requests to put our clients’ minds
more at
27. ease and assisted them to adapt their banking to complete more
of their
operations remotely. As new government programs were offered
we made
it quick and easy for our clients to access them, and as
economies reopened,
we worked to help our clients resume normal payments. I
continue to be
encouraged by the resilience and ingenuity of our
entrepreneurial clients.
We are here to support them, and together we will get through
this.
The current environment has accelerated changes in how clients
want to
interact with their financial institutions. Our clients value our
proactive,
personalized service, and specialized expertise, and they
increasingly want
their access to be fully digital. We have begun to replace our
online and
mobile platforms with a seamless end-to-end digital banking
experience for
business and personal clients, and already delivered several key
milestones.
Our progress will continue, and our investments will
significantly enhance
our digital capabilities and compliment our high-touch,
personalized service.
We are excited by the opportunities our June acquisition of T.E.
Wealth
and Leon Frazer provides to CWB and our clients. This
acquisition is a
transformative step forward for CWB to become a leader in the
Canadian
28. private wealth industry, with focused capabilities in complex
financial
planning and investment management. We are integrating these
capabilities
into our full-service banking offering, to create a unique and
differentiated
wealth management experience.
PR EPA R ED WH EN O PP O R T U N I T Y K N O C K S
We have been through economic cycles before and know that
opportunity
knocks as we emerge from recession. We know how to be ready
to
capitalize on those opportunities. Our foundation encompasses
our teams,
our clients, and advances to our strategic priorities. In 2021, we
will further
optimize our business to ensure we are positioned to deliver on
our future
opportunities to provide an unrivaled experience to our clients.
We opened our first full-service banking centre in the Greater
Toronto Area
and we could not be happier with the positive response we have
received
from business owners in that market. Our new clients in
Mississauga say it
feels very different dealing with CWB and they value our
specialized expertise
and our proactive, personal service. Ontario business owners are
ready for a
clear alternative to the big banks, and we are ready to be that
choice.
Adding even more fuel to our growth engine is our expected
29. transition
to the AIRB methodology for regulatory capital and risk
management.
Approval of our transition to the AIRB approach will result in
improved risk-
sensitive capital ratios that better reflect the strength of our
balance sheet.
While we are actively using the majority of our AIRB tools to
manage credit
risk, including comprehensive stress testing, internal capital
adequacy
assessment, and expected credit loss, we will take the next step
towards
approval with a full parallel run of our AIRB models and tools
in 2021.
Combined with the launch of our digital capabilities, AIRB will
make us more
competitive, support higher growth and achieve further
diversification
with an enhanced view of risk. Achievement of this next step
will be a
foundational capability for us and will enable us to realize our
full potential
across Canada.
I want to thank our people, clients and investors as we aspire to
become the
best full-service bank for business owners in Canada. Thank you
for your
continued confidence in us, to proactively weather this storm
and be ready
to fully capitalize on the opportunities ahead. I have no doubt
our strategic
priorities and demonstrated execution position us to deliver
profitable long-
term growth and enhance shareholder returns for years to come.
30. CWB Financial Group 2020 Annual Report | 5
Expanding Full-Service Client
Experiences with Digital
We have a long history of building outstanding client
relationships and are
making it faster and seamless for Canadians to experience CWB
through all
our channels. We are accelerating our digital transformation and
enhancing
capabilities to meet the evolving needs of our clients. The steps
we are
taking position us to grow full-service relationships in our
target markets
and expand our market share. We began this transformation with
the
successful replacement of our core banking system, and it
continues with
the expansion of our digital services through our strategic
partnership with
Temenos. Our partnership scales our ability to deliver leading
edge digital
technology to our clients without the large in-house technology
investments
of our larger competitors.
In 2020, we successfully delivered digital onboarding for
Motive, our
digital-only channel, followed by CWB personal accounts for
branch based
customers. In 2021, we will deliver digital client onboarding
for our Small
Business and mid-market commercial clients. We believe the
31. combination
of a new digital front-end with advanced analytics and
explainable artificial
intelligence (AI) will be a key enabler for CWB to be a leader
for Business
Banking in Canada with a seamless and differentiated
experience for our
Small Business, mid-market Commercial and personal clients.
Access to
more channels will continue to diversify our business by
attracting new
clients across Canada, while further broadening our access to
lower
cost funding.
DIGITAL CLIENT ONBOARDING
The Digital Client Onboarding (DCO) solution allows
prospective clients to
apply for and fund accounts online. Back-end integration
automatically
creates the new account in our banking system.
DIGITAL BANKING
The new Digital Banking (DB) platform replaces our existing
solution,
allowing clients to access banking products and services
through online and
mobile, with back-end integration and single sign-on. Team
members can
also access the platform to support clients in branch.
CYBER SECURITY
Protecting our clients’ privacy and upholding their trust is
critical for us to continue to grow long-term, full-service
32. relationships. We were ready for the increased COVID-19
related-threats that targeted human vulnerability and
throughout the year members of our information security office
identified, detected and responded to emerging
issues. The ongoing maturation of our cyber security controls
ensured we could move quickly to enable up to 100% of
our people to work from home in a safe environment during
COVID-19. To keep pace with the evolving landscape, we
benchmark and enhance the effectiveness of our industry-proven
cyber security risk and control frameworks to stay
ahead of new threats. The safety of our business and personal
clients using all of our channels, including our growing
digital services, is paramount.
2020 2021
DCO
Personal
DCO
Personal
in branch
DCO
Small
Business
DCO
Small Business
Lending
DCO
33. Motive
DB
Small
Business
DB
Personal
DB
Commercial
(Initiating)
6 | CWB Financial Group 2020 Annual Report
We know that some of our strongest relationships were forged
during
our clients’ most challenging times. When other banks turned
away
business owners or were difficult to deal with, we were there to
help.
That’s the history of how our bank started 36 years ago, and it’s
what
#CWBhasyourback is all about.
At the onset of COVID-19, we were among the first in to
proactively reach out
to our clients to offer support for their unique situation. More
than providing
loan payment deferrals, it meant extending timely operational
34. advice to
clients, who take guidance from experts like Aaron Drever,
Senior Manager,
Cash Management. With partners like Aaron, clients could
quickly adapt
their accounting processes to remote work arrangements by
moving from
manual cheque processing to Customer Automatic Funds
Transfer (CAFT).
For those determined to adapt to the shifting market, like Luke
Shaheen,
Managing Partner for APEX Active Entertainment Group, it
meant facilitating
quick access to federal relief programs like the Canada
Emergency Business
Account (CEBA). “We were in constant contact with our
relationship
manager at CWB as soon as we heard about the CEBA
program,” says Luke.
“After we submitted our application, it was three to four
business days
before we started to see those funds come into our account, so
we could
cover our expenses.” With bolstered cash flow, Luke kept his
focus to grow
his business in areas that increased exponentially and ramp
up his ecommerce efforts.
Our proactive approach and desire to support our
clients when they needed us the most resulted
in us granting loan deferral arrangements
to over 25% of loans under our
#CWBhasyourback program.
As the economy began to
35. recover, we also worked
collaboratively with our
clients to resume normal
payments. With proactive
advice, timely service and a
belief in the power of relationships,
CWB really made a difference for people
through the COVID-19 pandemic.
LUKE SHAHEEN, Managing Partner,
APEX Active Entertainment Group
Stepping up for
Clients Through
COVID-19
“The energy of #CWBhasyourback reinforced my efforts
to help clients optimize their cash management
processes at a crucial time. It inspired me to
know that I am part of creating a positive
impact for business owners in a
new environment.”
AARON DREVER,
Senior Manager,
Cash Management, CWB
CWB Financial Group 2020 Annual Report | 7
Opening
the Door to
Opportunities
36. There is no doubt that today, our work looks different as a
result of the COVID-19
global pandemic. Faced with big decisions about how best to
protect our people
and our clients, in the middle of March we found ourselves
moving more than
85% of our workforce to home offices. Through it all, we put
our people first. Over
the coming weeks and months we supported our employees
through significantly
enhanced technology solutions, access to home office
equipment, mental health
programming, creative engagement opportunities, and flexible
work arrangements,
as they juggled the many challenges of doing their jobs virtually
for the first time, in a
“ While the COVID-19 pandemic was extremely disruptive to
our
economy, our clients, and our people, the strategic execution
over the last several years allowed us to face this challenging
period from a position of strength. When I, and nearly all of
our team, made the transition to work remotely in March, we
had all of the tools at our disposal to ensure that not only could
we continue to support our clients through the challenges
they faced, but that we could continue to execute our
transformation. As you’ll see, our success has been a collective
effort, with significant contributions from each member of
the executive team. I am so proud to lead this team and of the
tremendous efforts of all our people this year.”
Carolyn has been instrumental to
build out our teams and capabilities
to support our current and future
growth. Under her guidance,
37. we have diversified our funding
channels and our balance sheet has
remained strong through several
economic cycles. Through her
leadership, we continue to enhance
our corporate responsibility
reporting, and drive a strong and
inclusive culture.
Under Stephen’s leadership, we
have significantly improved our
product offering and tools, which
has driven full-service client growth
and very strong branch raised
deposit growth. He is instrumental
in our initiative to deliver a seamless
digital banking experience to our
clients and in the enhancements of
our differentiated private wealth
experience. Stephen also oversees
our growing equipment finance and
wealth management businesses.
Executive
Committee
CAROLYN GRAHAM
Executive Vice President and
Chief Financial Officer
STEPHEN MURPHY
Executive Vice President,
Banking
CHRIS FOWLER
President and
38. Chief Executive Officer
8 | CWB Financial Group 2020 Annual Report
Kelly is responsible for human
resources and internal
communications, with a focus
to drive a positive and inclusive
culture, and an employee
experience that makes us a career
destination for top talent. Over
the past year, both Kelly and our
approach to workplace and culture
were recognized with multiple
notable awards.
Glen is responsible for business
transformation and organizational
change management – both
critical components of our ongoing
transformation. Under his oversight,
we have made our operating
model processes faster, smoother
and scalable which has enhanced
our client experience. Glen also
oversees CWB Trust Services and
CWB Optimum.
As part of our AIRB transformation,
Bogie has built out an advanced risk
management function that provides
independent review and oversight of
enterprise-wide risk management,
including credit risk, market risk,
39. and operational risk. These tools
and capabilities help us prudently
manage through this current period
of economic volatility.
Darrell leads transformational
enhancements to our technology,
information services and corporate
services. Our scalable technology
infrastructure enables us to efficiently
develop seamless digital banking
experiences and artificial intelligence
tools for our clients. Under Darrell’s
leadership, our cyber security risk
management program stays ahead
of emerging threats, and enables our
team members to work remotely
through our secure platforms with
uninterrupted access.
DARRELL JONES
Executive Vice President and
Chief Information Officer
BOGIE OZDEMIR
Executive Vice President and
Chief Risk Officer
KELLY BLACKETT
Executive Vice President,
Human Resources and Corporate
Communications
GLEN EASTWOOD
Executive Vice President,
Business Transformation
40. different place, using new and different tools. Many team
members
took this on while also caring for children and other loved ones.
What
we witnessed was an incredible show of resilience, commitment,
compassion and effort on the part of our people, leaders and
teams, who worked as they never had before to maintain an
excellent client experience. Our people have shown us how to
embrace the new, demonstrating new facets of our nimbleness
and
proactivity that will serve us well into the future.
We moved
more than
85% of our
workforce
to home
offices.
CWB Financial Group 2020 Annual Report | 9
#CWB hasyourback
COVID-19
BUSINESS ADVICE
OBSESSED WITH YOUR SUCCESS™
We believe our success depends on the responsible creation of
long-
term value for all of our stakeholders. Our ability to do this is
rooted
in our complementary commitments to deliver an exceptional
41. client
experience, cultivate an inclusive and engaged workplace
culture, and
contribute to a healthy society for future generations. Our
response
to the COVID-19 social and economic crises was guided by our
values.
We chose to be proactive in support of our clients and our
teams, and
we also took a strong public stance and made a commitment to
actively
support the fight against systemic racism. We are proud of these
actions
and they reflect our belief that The How Matters (one of our
core values)
in the way we operate our business.
This year, we added formal oversight of environmental, social,
and governance
(ESG) to our Board of Director’s mandate and assigned
accountability
for leadership of our ESG strategy and initiatives to our Chief
Financial
Officer’s responsibilities. Our Executive Committee and Board
participated
in workshops to explore our environmental priorities and
potential impacts
on our business, and we will continue to actively consider our
approach to
sustainability. As we look ahead, we will continue to put the
needs of our
stakeholders at the centre of everything we do. We will continue
to update
and enhance our ESG disclosures available on our website and
invite you to
follow our progress at www.cwb.com/corporate-social-
42. responsibility.
Corporate Responsibility Highlights
• Under our #CWBhasyourback program, we proactively
delivered
individualized advice and support, and provided payment
deferrals on
over 25% of our loan portfolio
• We moved quickly to provide business client access to relief
through
government lending initiatives
• We accelerated our digital strategy to enhance our full -service
client
experience with delivery of digital onboarding for personal
banking clients
• We expanded our full service offering through our wealth
management
acquisition and the opening of our first full service banking
centre in the
Greater Toronto Area
• Together, our 2020 initiatives will support client growth, the
proportion
of clients we serve on a full-service basis and has already
helped
improve our Net Promoter Score
Our commitment to our
clients does not waiver
and our actions in
2020 cemented strong
relationships for years
43. to come.
OUR CLIENTS
10 | CWB Financial Group 2020 Annual Report
IN URGENT
NEED OF
DONATIONS
EMPLOYMENT CENTER
FOOD BANK
SUPPORTED BY CANADIAN WESTERN BANK
We have
your back
2 0 2 02 0 2 0
A great place to work, even from home!
• We took a people first approach to our COVID-19 response:
- Quickly transitioned 85% of our people to work from home
and
instituted strong safety protocols at all locations
- Put in place flexible work arrangements, provided home
office
equipment and supports, and granted 12 additional paid days off
to
44. support team members with child or elder care, self-isolation
and
quarantine requirements
- Strong mental health and wellness support, with increased
mental
health benefits
- CWB Financial Group closed all locations on July 17 for all -
employee
Day of Thanks
• CWB named as one of Canada’s Most Admired Corporate
Cultures™
• In addition to CWB Women and CWB Pride, we launched five
new
Employee Represented Groups to support employees and allies,
focused on: Black employees, Indigenous employees, new
Canadians,
people with disabilities and chronic illness, and to shine a light
on
mental health and wellness at CWB
• We published our Equity Narrative Report to be transparent
about our
progress toward equity
• We continued to drive initiatives to advance inclusion,
including
commitments to the UN Women’s Empowerment Principles, and
the
BlackNorth Initiative pledge and anti-racism actions
• We invested more than 20,000 hours in employee training and
development, with more than 3,300 hours focused on inclusion,
45. diversity, and unconscious bias
• Our community investment program contributes to economic
prosperity with a focus on two areas of giving: Enabling
Business and
Promoting Inclusivity
• We support organizations that our people are passionate about
through
employee volunteerism, fundraising and our annual United Way
Workplace Campaign
• CWB donated more than $155,000 through employee grants
and
matching initiatives
• Our environmental stewardship is focused to reduce the
footprint of
our operations, particularly greenhouse gas emissions, waste
reduction
and improved building sustainability
• We target a reduction in our total greenhouse gas emissions in
the
Alberta capital region by 15% by 2025 and 25% by 2035
- Overall, CWB’s fiscal 2019 emissions of 5,879 tCO2e (Scope
1, 2 & 3)
in the Alberta capital region are flat to our baseline year (fiscal
2017)
- We measure our natural gas heating, electricity purchased,
paper
consumption and staff commuting in the Alberta capital region
to
calculate our emissions
46. We are recognized as one
of 50 Best Workplaces™ in
Canada and named to the
list of Best Workplaces™
in Financial Services and
Insurance.
Over $1.5 million in
charitable donations,
benefitting over 150
organizations.
OUR COMMUNITY
OUR PEOPLE
CWB Financial Group 2020 Annual Report | 11
January 16, 2019 is a day I won’t soon forget. I underwent
elective surgery
to amputate my left leg, below the knee. It seems
incomprehensible to
most, but for me it was quite easy. At age four I was hit by a car
while
crossing the street, leaving me with a crush injury and a
physical scar that
altered every facet of my life.
The years that followed were filled with many surgeries,
challenges and
disappointments, coping the best I could and conditioning
myself to adapt
and persevere. I was always in pursuit of appearing normal and
47. finding joy.
In 2012, over 30 years later, I gave birth to my son. He gave me
all the
strength and clarity I needed to make a plan for the future, and
by now
my ankle was retiring into sedentary life. I had also grown tired
of making
the best of it and my ego was finally at ease with being
different. So I made
a conscious decision for amputation. It was my only chance at
leading a
fulfilling and active life and I was far too young, and otherwise
healthy, to
accept anything less.
CWB Puts People First: My Story
This wasn’t an easy path, however. It took years of
contemplation, research
and persistence with my medical team. Eventually I convinced
my surgeon
that amputation was a reasonable option for me under the
circumstances.
It was time for my life experience to take on the challenge of
amputation.
This came not with guarantees, but with belief and hope.
Then came time to tell CWB. This decision had impact beyond
me, affecting
my employer and my “tealmates.” I was anxious about sharing
the news.
My leader had seen me for years without observing my struggle,
as did
everyone else. But when faced with this news, she only asked:
How can
we help? And she meant it. A lesser employer would focus on
48. the loss
of productivity and cost, but with CWB, I was never made to
feel like
a burden. I left for surgery confident CWB’s team and benefits
would be
there for me, and I could focus my energy on healing and
rehabilitation.
All they needed from me was a little paperwork.
12 | CWB Financial Group 2020 Annual Report
KATE LISTER, Sr. AVP, Communications,
Culture & Talent Acquisition
NADINE COTTER,
Senior Manager,
Creative Services
And so, after a quiet holiday with my family, and preparing
ourselves for
an outcome we couldn’t predict, the day came. I was eager for
the next
chapter to begin.
The next many months were filled with physical and emotional
pain,
innumerable prosthetic fittings, a lot of rehab, and a ton of help.
Just like
family, CWB was with me every step of the way: emotionally,
financially,
and professionally. My team sent care packages, our benefits
provider was
exceptional, my leaders provided me parking and a flexible
return to work. I
49. couldn’t have asked for anything more.
Nearly two years after surgery, I have surpassed all my
expectations. I’m
pain free and can walk until my heart’s content, doing things
with my family
that I was incapable of before. Some things are different, but I
don’t for one
second regret my decision. I have reached the richest phase of
my life thus
far. I feel incredibly grateful and fortunate to have arrived at
this crossroad
in my life with CWB having my back.
“We know that a
diverse workforce
needs the right
supports to really feel
inclusive. Nadine’s story is
a powerful example of what
living with a disability is like. Our
employee represented group for
team members with visible and invisible
disabilities and chronic illness plays a
central role in making sure our employees
are seen, heard, and supported in their journeys
inside and outside CWB. It also allows them a
wonderful avenue to educate their peers and leaders
about barriers that exist, and why inclusion matters.”
50. – KELLY BLACKETT, Executive Vice President,
Human Resources and Corporate Communications
“ I was anxious about sharing the
news. My leader had seen me for
years without observing my
struggle, as did everyone
else. But when faced
with this news,
she only
asked: how
can we help?”
Nadine
with her
husband Terry,
after surgery.
CWB Financial Group 2020 Annual Report | 13
VLAD AHMAD,
Senior VP, Operations and
Business Transformation, CWB
CWB continually works to make meaningful impacts in our
communities.
We firmly believe in driving economic prosperity so all
Canadians have the
opportunity to contribute to the success of our country.
We do this by focusing on two areas within the community:
Enabling
Business and Promoting Inclusivity. Through our charitable
51. partnerships,
we annually give over $1.5 million dollars back through
donations,
sponsorships, employee grants and our community banking
program.
Combined, our efforts this year benefited over 150
organizations, including:
• Partnered with DIVERSEcity Community Resources Society to
launch a
business incubator for women
• Supported financial literacy through organizations such as
Junior
Achievement, Bissell Centre and Read Saskatoon
• Supported anti-racism initiatives by partnering with several
organizations
across Canada offering skill development and education for
Black youth
Over the past year, we’ve all struggled through unknowns and
disruption
brought on by the COVID-19 pandemic. We are incredibly
proud to support
community organizations serving Canadians in need at various
phases of
their life. Organizations like Windmill Microlending, offering
microloans
Our Communities
Enabling business and
promoting inclusivity
to skilled immigrants and refugees to continue their career s in
Canada so they can contribute to the growth of our country.
52. We recognize the importance of empowering those facing
barriers and that valuing diverse ideas and perspectives
leverages broader range of talent, supports better
business decisions and success, and improves
communities.
Through the CWB loan fund for
medical professionals at Windmill,
we’re proud to support skilled
professionals like Frederick, a
Registered Nurse from Ghana,
who is working on his Canadian
accreditation with the added challenge to
support his wife and new child while working
at night at a hospital janitorial job.
“ Windmill makes a difference at the individual,
family, community and country level and
I am proud of CWB’s support for
such an organization.”
FREDERICK TETTEH
14 | CWB Financial Group 2020 Annual Report
CWB Financial Group strives to earn and maintain the trust of
our
stakeholders through high standards of corporate governance.
Our
corporate governance practices, including our code of conduct,
our director
independence standards and our board and committee mandates,
are
53. available on our website at cwb.com/corporate-governance. The
Board of
Directors has oversight of CWB Financial Group’s ESG
program, including
cyber security. The Board carries out much of its work through
the following
four standing committees:
• Audit Committee: Quality and integrity of financial reporting,
including
internal and external audit and internal controls.
• Governance and Conduct Review Committee: Governance
policies and
practices, oversight of regulatory compliance risk, director
succession
and compensation, and Board and individual director
effectiveness.
• Human Resources Committee: Compensation practices and
programs,
talent management, succession planning, employee engagement,
and
employment equity, inclusion and diversity.
• Risk Committee: Enterprise risk management and risk appetite
frameworks,
and technology risk including data privacy.
CWB’s Management Proxy Circular will be available on our
website in February
2021. It will include information on our director nominees,
reports of each board
committee, and detailed descriptions of our corporate
governance practices.
Please review our circular to learn how shareholders can
54. participate in our
annual meeting on April 1, 2021.
We are committed to open communication with stakeholders –
please
contact us at:
[email protected] | [email protected]
Corporate Governance
Board of Directors
Front row (left to right): Ian M. Reid, Corporate Director, Linda
M.O. Hohol, Corporate Director, Margaret J. Mulligan,
Corporate
Director, Robert L. Phillips (Chair), President and CEO, R.l.
Phillips Investments Inc., Sarah A. Morgan-Silvester, Corporate
Director,
Raymond J. Protti, Corporate Director, E. Gay Mitchell,
Corporate Director
Back row (left to right): Mary Filippelli, Corporate Director,
Andrew J. Bibby, Corporate Director, H. Sanford Riley,
President and
CEO, Richardson Financial Group Limited, Chris H. Fowler,
President and CEO, Canadian Western Bank, Robert A.
Manning,
President, Cathton Investments Ltd.
Note – This photo was taken before the pandemic and has been
altered to reflect current board membership.
CWB Financial Group 2020 Annual Report | 15
MESSAGE FROM
55. CHAIR OF THE BOARD
Bob
Phillips
16 | CWB Financial Group 2020 Annual Report
At CWB we will remember 2020 as a year our teams came
together to
support our clients and each other in an unprecedented
environment. Our
people’s response to this situation has been truly outstanding
and was
recognized by Global Finance Magazine for distinguished crisis
leadership.
Thanks to their diligent efforts we supported strong client
relationships
and delivered solid results in a very challenging environment as
we
continued to make significant progress to become the best full -
service
bank for business owners in Canada.
We entered this period from a position of stability and
confidence due
to the transformational changes we undertook over many years
that
strengthened and diversified our business. Our strong capital
and funding
base enabled us to support our clients, when they’ve needed us
the most,
and to continue to invest in our strategic priorities. Our robust
enterprise
56. risk management framework continues to serve us well and your
Board
continues to maintain a sharp focus on the oversight of key
risks.
I am impressed with our continued progress to enhance our
differentiated
client experience, especially our response to the accelerated
changes
in how clients interact with their financial institutions in the
current
environment. Our focused business transformation initiatives
and
achievement of key milestones in our digital roadmap are on
strategy, and
the acquisition of T.E. Wealth and Leon Frazer & Associates
significantly
adds to our full-service client offering across Canada. In
October, we
announced that our timeline for approval of our formal AIRB
application
has been extended to include a parallel run of our AIRB tools
and models
through 2021. We continue to expect AIRB to create long-term
meaningful
value for shareholders.
Our commitment to continuous improvement supported by our
core
values and a diverse team of qualified leaders, at every level of
the
organization, will drive our long-term success. I’m thrilled that
CWB
was recognized as one of Canada’s Most Admired Corporate
Cultures™.
57. This achievement grows our reputation as a people-first
company and
destination for top talent. In the summer, we appointed Ms.
Mary Filipelli
to your Board and she will stand for election at our next annual
general
meeting. Her deep financial industry knowledge and extensive
experience
is an excellent addition.
We stand against systemic racism and, along with the Executive
Committee,
we too have chosen to tackle the work we need to do with
intention. In
addition to the new Executive Committee targets Chris
discussed, I am proud
to announce that we have set new Board composition targets
that tie to
our core value; Inclusion Has Power. We aim to have Black,
Indigenous and
racialized people comprise at least 5% of the Board by 2025 and
have women
comprise at least 40%. Currently 42% of our director nominees
are women.
Further, we collectively committed to provide oversight to all
aspects of
our corporate responsibility and have formally added
environmental,
social, and governance (ESG) oversight to our mandate. We
remain
committed to engage with our stakeholders, as we work to
create long-
term value for all those who choose CWB Financial Group.
58. In closing, I would like to thank every CWB team member for
their focus,
flexibility and dedication to create value for our stakeholders in
an
unprecedented environment. I would also like to thank our
executive team
and my fellow directors for their unwavering commitment to our
success.
Together we are stronger and our combined efforts have made
our future
brighter. To my fellow shareholders, I am thankful for your
confidence and
commitment during our transformational journey. I am
confident we are
positioned to deliver high quality growth and profitability, and
we will
achieve our full potential across Canada.
“ At CWB we will remember 2020 as a year our teams came
together to support
our clients and each other in an unprecedented environment.
Our people’s
response to this situation has been truly outstanding.”
Thank you
from CWB
Thank you to Mr. Alan Rowe who retired at our last annual
shareholders’ meeting after
24 years of exemplary service as a CWB director. Mr. Rowe
made many valuable
contributions over his years, including as Chair of the Human
Resources Committee.
His thoughtful contributions will be missed.
CWB Financial Group 2020 Annual Report | 17
59. TABLE OF CONTENTS
Forward-Looking Statements .............................................. 19
Non-IFRS Measures ............................................................
20
Who We Are ...................................................................... 21
Growth Strategy and Vision
........................................................... 21
Fiscal 2020 Strategic Highlights
.................................................... 22
Strategic Transaction
..................................................................... 22
Fiscal 2021 Strategic
Priorities........................................................ 23
Impact of COVID-19 and Our Response .................................
23
Supporting our People
................................................................... 23
Supporting our Clients
................................................................... 24
Risk Management
........................................................................... 24
60. CWB Financial Group Performance ......................................
25
Overview
........................................................................................ 25
Select Financial Highlights
............................................................. 25
Net Interest Income
....................................................................... 29
Non-Interest Income
...................................................................... 30
Non-Interest Expenses, Efficiency and Operating Leverage
......... 31
Acquisition-Related Fair Value Changes
........................................ 32
Income Taxes
.................................................................................. 32
Comprehensive Income
................................................................. 32
Cash and Securities
........................................................................ 33
Loans
..............................................................................................
34
Credit Quality
................................................................................. 36
61. Payment Deferrals
.......................................................................... 38
Deposits and Funding
..................................................................... 38
Other Assets and Other Liabilities
................................................. 40
Liquidity Management
................................................................... 40
Capital Management
...................................................................... 42
Financial Instruments and Other Instruments
................................ 45
Off-Balance Sheet
.......................................................................... 46
Summary of Quarterly Results and Fourth Quarter .................
46
Quarterly Results
............................................................................ 46
Fourth Quarter of 2020
.................................................................. 47
Accounting Policies and Estimates .......................................
47
Critical Accounting Estimates
........................................................ 47
62. Changes In Accounting Policies and Financial
Statement Presentation
............................................................. 48
Future Changes In Accounting Policies
.......................................... 49
Risk Management ............................................................... 49
Risk Management Overview
.......................................................... 50
Risk Universe - Report on Principal Risks
....................................... 55
Other Risk Factors
.......................................................................... 65
Updated Share Information ................................................. 66
Related Party Transactions ..................................................
66
Controls and Procedures ..................................................... 66
Management’s Discussion
and Analysis
18 | CWB Financial Group 2020 Annual Report
CWB Financial Group 2020 Annual Report | 19
63. This Management’s Discussion and Analysis (MD&A), dated
December 3, 2020, should be read in conjunction with the
audited consolidated financial statements of Canadian
Western Bank (CWB) for the year ended October 31, 2020 and
the audited consolidated financial statements and MD&A for the
year ended October 31, 2019. Additional
information relating to CWB, including the Annual Information
Form, is available on SEDAR at www.sedar.com and on our
website at www.cwb.com.
The consolidated financial statements have been prepared in
accordance with International Financial Reporting Standards
(IFRS) and are presented in Canadian dollars.
FORWARD-LOOKING STATEMENTS
From time to time, we make written and verbal forward-looking
statements. Statements of this type are included in our Annual
Report and reports to shareholders and may
be included in filings with Canadian securities regulators or in
other communications such as press releases and corporate
presentations. Forward-looking statements
include, but are not limited to, statements about our objectives
and strategies, targeted and expected financial results and the
outlook for CWB’s businesses or for the
Canadian economy. Forward-looking statements are typically
identified by the words “believe”, “expect”, “anticipate”,
“intend”, “estimate”, “may increase”, “may impact”,
“goal”, “focus”, “potential”, “proposed” and other similar
expressions, or future or conditional verbs such as “will”,
“should”, “would” and “could”.
By their very nature, forward-looking statements involve
numerous assumptions and are subject to inherent risks and
uncertainties, which give rise to the possibility that
our predictions, forecasts, projections, expectations and
conclusions will not prove to be accurate, that our assumptions
64. may not be correct and that our strategic goals will
not be achieved.
A variety of factors, many of which are beyond our control, may
cause actual results to differ materially from the expectations
expressed in the forward-looking statements.
These factors include, but are not limited to, general business
and economic conditions in Canada, including housing market
conditions, the volatility and level of liquidity
in financial markets, fluctuations in interest rates and currency
values, the volatility and level of various commodity prices,
changes in monetary policy, changes in economic
and political conditions, material changes to trade agreements,
transition to the Advanced Internal Ratings Based (AIRB)
approach for calculating regulatory capital,
legislative and regulatory developments, legal developments,
the level of competition, the occurrence of natural catastrophes,
outbreaks of disease or illness that affect
local, national or international economies, changes in
accounting standards and policies, information technology and
cyber risk, the accuracy and completeness of
information we receive about customers and counterparties, the
ability to attract and retain key personnel, the ability to
complete and integrate acquisitions, reliance on
third parties to provide components of business infrastructure,
changes in tax laws, technological developments, unexpected
changes in consumer spending and saving
habits, timely development and introduction of new products,
and our ability to anticipate and manage the risks associated
with these factors. It is important to note that
the preceding list is not exhaustive of possible factors.
Additional information about these factors can be found in the
Risk Management section of our MD&A. These and other
factors should be considered carefully, and readers
are cautioned not to place undue reliance on these forward-
65. looking statements as a number of important factors could cause
our actual results to differ materially from the
expectations expressed in such forward-looking statements. Any
forward-looking statements contained in this document
represent our views as of the date hereof. Unless
required by securities law, we do not undertake to update any
forward-looking statement, whether written or verbal, that may
be made from time to time by us or on our
behalf. The forward-looking statements contained in this
document are presented for the purpose of assisting readers in
understanding our financial position and results of
operations as at and for the periods ended on the dates
presented, as well as our strategic priorities and objectives, and
may not be appropriate for other purposes.
Assumptions about the performance of the Canadian economy
over the forecast horizon and how it will affect our business are
material factors considered when setting
organizational objectives and targets. In determining
expectations for economic growth, we consider our own
forecasts, economic data and forecasts provided by the
Canadian government and its agencies, as well as certain private
sector forecasts. These forecasts are subject to inherent risks
and uncertainties that may be general or
specific. The full extent of the impact that the COVID-19
pandemic, including government and regulatory responses to the
outbreak, will have on the Canadian economy
and our business is highly uncertain and difficult to predict at
this time. Where relevant, material economic assumptions
underlying forward-looking statements are disclosed
within the Fiscal 2021 Outlook and Allowance for Credit Losses
sections of our MD&A.
20 | CWB Financial Group 2020 Annual Report
66. NON-IFRS MEASURES
We use a number of financial measures to assess our
performance against strategic initiatives and operational
benchmarks. Non-IFRS measures provide readers with an
enhanced understanding of how we view our ongoing
performance. These measures may also provide the ability to
analyze trends related to profitability and the
effectiveness of our operations and strategies, and determine
compliance against regulatory standards. To arrive at certain
non-IFRS measures, we make adjustments to
the results prepared in accordance with IFRS. Adjustments
relate to items which we believe are not indicative of
underlying operating performance. Some of these financial
measures do not have standardized meanings prescribed by
IFRS, and therefore, may not be comparable to similar measures
presented by other financial institutions. The
non-IFRS measures used in this MD&A are calculated as
follows:
• Adjusted non-interest expenses – total non-interest expenses,
excluding pre-tax amortization of acquisition-related intangible
assets, and acquisition and integration
costs (see Table 1). Acquisition and integration costs include
one-time direct and incremental costs incurred as part of the
execution and ongoing integration of the
acquisition of the businesses of T.E. Wealth and Leon Frazer &
Associates.
• Adjusted common shareholders’ net income – total common
shareholders’ net income, excluding the amortization of
acquisition-related intangible assets, acquisition
and integration costs, and acquisition-related fair value changes,
net of tax (see Table 1).
• Pre-tax, pre-provision income – total revenue less adjusted
67. non-interest expenses (see Table 1).
• Adjusted earnings per common share – diluted earnings per
common share calculated with adjusted common shareholders’
net income. In 2019, this metric was named
‘Adjusted cash earnings per common share’.
• Return on common shareholders’ equity – common
shareholders’ net income divided by average common
shareholders’ equity.
• Adjusted return on common shareholders’ equity – adjusted
common shareholders’ net income divided by average common
shareholders’ equity.
• Return on assets – common shareholders’ net income divided
by average total assets.
• Efficiency ratio – adjusted non-interest expenses divided by
total revenue.
• Net interest margin – net interest income divided by average
total assets.
• Provision for credit losses on total loans as a percentage of
average loans – provision for credit losses on loans, committed
but undrawn credit exposures and letters of
credit divided by average total loans. Provisions for credit
losses related to debt securities measured at fair val ue through
other comprehensive income (FVOCI) and other
financial assets are excluded.
• Provision for credit losses on impaired loans as a percentage
of average loans – provision for credit losses on impaired loans
divided by average total loans.
68. • Provision for credit losses on performing loans as a percentage
of average loans – provision for credit losses on performing
loans (Stage 1 and 2) divided by average total
loans.
• Operating leverage – growth rate of total revenue less growth
rate of adjusted non-interest expenses.
• Basel III common equity Tier 1, Tier 1, Total capital, and
leverage ratios – calculated in accordance with guidelines
issued by Office of the Superintendent of Financial
Institutions Canada (OSFI).
• Risk-weighted assets – on and off-balance sheet assets
assigned a risk weighting calculated in accordance with the
Standardized approach guideline issued by OSFI.
• Average balances – average daily balances.
Table 1 - Non-IFRS Measures
($ thousands)
For the three months ended For the year ended
October 31
2020
October 31
2019
October 31
2020
October 31
2019
69. Non-interest expenses $ 123,206 $ 107,667 $ 436,646 $
405,481
Adjustments (pre-tax):
Amortization of acquisition-related intangible assets (1,991)
(1,204) (6,127) (5,007)
Acquisition and integration costs(1) (907) - (2,442) -
Adjusted non-interest expenses $ 120,308 $ 106,463 $
428,077 $ 400,474
Common shareholders' net income $ 63,380 $ 67,512 $
248,956 $ 266,940
Adjustments (after-tax):
Amortization of acquisition-related intangible assets 1,443 904
4,515 3,397
Acquisition and integration costs(1) 669 - 1,804 -
Acquisition-related fair value changes - - - 5,773
Adjusted common shareholders' net income $ 65,492 $
68,416 $ 255,275 $ 276,110
Total revenue $ 236,575 $ 220,853 $ 897,395 $ 861,604
Less:
Adjusted non-interest expenses 120,308 106,463 428,077
400,474
Pre-tax, pre-provision income $ 116,267 $ 114,390 $
70. 469,318 $ 461,130
(1) Includes one-time direct and incremental costs incurred as
part of the execution and ongoing integration of the acquisition
of the businesses of T.E. Wealth and Leon Frazer & Associates.
CWB Financial Group 2020 Annual Report | 21
WHO WE ARE
CWB Financial Group (CWB) is a growth-oriented, full-service
financial institution, and the only Schedule 1 chartered bank in
Canada with a focus to meet the unique financial
needs of business owners. Our teams deliver a uniquely
proactive client experience with highly personalized service,
specialized expertise, customized solutions and faster
response times for our clients across Canada through our branch
network, dedicated wealth and trust offices, and growing digital
capabilities. We provide full-service
business and personal banking, nation-wide specialized
financing in targeted industries, comprehensive wealth
management offerings, and trust and custody services
specifically tailored for business owners, their employees and
their families.
GROWTH STRATEGY AND VISION
Our highly engaged teams operate within a client-centric,
collaborative and change-ready culture, with a core focus to
achieve our vision to become the best full-service
bank for business owners in Canada. The investments we have
made over the past 10 years in pursuit of our strategic priorities
have created great momentum. Despite the
current challenging economic environment, we continue to
transform our capabilities to offer a superior full -service client
71. experience through a complete range of in-person
and digital channels, and a clear alternative to the large
Canadian banks.
We create long-term value for shareholders through strong,
profitable growth of full-service client relationships across a
growing geographic footprint. We maintain
conservative capital ratios and our expected transition to the
Advanced Internal Ratings Based (AIRB) approach for
regulatory capital and risk management will further boost
our capital ratios. A transition to AIRB will also increase our
addressable market and position us to deliver a higher growth,
higher profitability bank with an enhanced view
of risk.
Our differentiated market position and transformation-focused
strategy has set the stage for CWB to be a disruptive force in
Canadian financial services, deliver profitable
long-term growth and enhance shareholder returns for years to
come.
22 | CWB Financial Group 2020 Annual Report
FISCAL 2020 STRATEGIC HIGHLIGHTS
Table 2 - Execution against Strategic Priorities
To create value for the people
who choose CWB
Strategic execution during fiscal 2020
Transform and optimize our capabilities
to create an unrivaled experience for
72. our clients
• Provided individualized advice, support and payment deferral
options to our clients under our #CWBhasyourback
program.
• Embarked on a transformational initiative to deliver a
seamless digital banking experience for small- and medium-
sized business owners, complemented by artificial intelligence-
powered conversational banking tools, in partnership
with a global leader in banking software.
• Launched end-to-end digital onboarding for Motive Financial
clients to allow accounts to be opened virtually with
immediate ability to transact. We extended these capabilities to
all current and prospective CWB personal banking
clients in November 2020.
• Initiated the full integration of our wealth management
operations to provide a differentiated private wealth
experience to our clients.
• Consolidated our equipment financing and leasing businesses
under common leadership to leverage the strengths
of our teams and create synergies that optimize client-facing
interactions and enhance client relationships.
• Streamlined lending administration and cash management
processes to provide our teams with efficient, dynamic
and intuitive tools and simplify interactions across all teams to
support higher levels of client service and growth.
Drive a positive and inclusive culture and
employee experience to create value for
our people and remain a career
destination for top talent
73. • Recognized by Great Place to Work Canada® as one of the 50
Best WorkplacesTM in Canada and one of the Best
WorkplacesTM in Financial Services and Insurance in Canada
for 2020.
• Recognized by Waterstone Human Capital as one of Canada’s
Most Admired Corporate CulturesTM for 2020.
• Enacted and expanded measures to communicate our stand
against systemic racism, with concrete actions
supported by our existing foundation of inclusion and diversity.
• Enhanced the agility of our teams by fully supporting remote
work arrangements while keeping our teams connected
using virtual communication channels.
• Expanded our mental health supports for team members,
including the introduction of a new employee-represented
group to support wellness – CWB Health 360.
Transform and diversify our business to
create value for investors through break-
out growth and enhanced profitability
• Submitted our final application to OSFI for transition to AIRB
and continued progression towards approval, which
now includes a parallel run of our tools and processes during
2021 to evaluate their operation through a period of
economic stress.
• Opened our Mississauga branch, our first full-service branch
in Ontario.
• Acquired the businesses of T.E. Wealth and Leon Frazer &
Associates, positioning CWB to become a leader in the
74. Canadian private wealth industry.
• Grew relationship-based, branch-raised funding by 20%,
driven by very strong 34% growth in lower-cost demand and
notice deposits.
• Achieved further geographic diversification, with Ontario
contributing approximately 45% of annual loan growth.
STRATEGIC TRANSACTION
On June 1, 2020, we completed the acquisition of 100% of the
common shares of iA Investment Counsel Inc., an investment
counsellor operating under the brands T.E.
Wealth and Leon Frazer & Associates (the wealth acquisition).
The purchase price of $87 million was paid in cash upon closing
and represented an investment of 30 basis
points of regulatory capital.
The wealth acquisition is a transformative step forward for
CWB to become a leader in the Canadian private wealth
industry, with focused capabilities in complex financial
planning and investment management and an extended
geographic footprint, to support our continued growth of strong
client relationships across the country. T.E. Wealth
and Leon Frazer & Associates provide financial planning and
wealth management services targeting high-net-worth Canadian
families. T.E. Wealth is also one of the largest
and most reputable providers of investment management and
financial education services to Indigenous communities, with
offerings provided under the T.E. Wealth
Indigenous Services brand. With a significant portion of the
client base in Ontario, the wealth acquisition will help to
accelerate full-service client growth and achieve greater
geographic diversification. The wealth acquisition’s fiscal 2020
financial results as well as client and team retention have been
75. consistent with our expectations. In fiscal
2021, we will focus on the continued integration of our wealth
management operations to provide a differentiated private
wealth experience to our clients.
The wealth acquisition contributed $5.9 billion to assets under
management, advisement and administration at October 31,
2020. The operations of the wealth acquisition,
which are included in our financial results for five months in
this fiscal year, contributed $15 million to wealth management
non-interest income and $18 million to non-
interest expenses, which included $2 million of acquisition and
integration costs as well as $1 million of amortization of
acquisition-related intangible assets. The wealth
acquisition is expected to support adjusted earnings per common
share modestly at first, with further accretion beginning in
fiscal 2022, and increase our contribution of
non-interest income to total revenue to approximately 12% in
fiscal 2021.
CWB Financial Group 2020 Annual Report | 23
FISCAL 2021 STRATEGIC PRIORITIES
Table 3 - Accelerated Transformation to Create Value for our
Clients, our People and our Investors
To create value for the people
who choose CWB
Fiscal 2021 transformation priorities
Transform and optimize our capabilities
to create an unrivaled experience for
76. our clients
• Continue to further enhance our differentiated full-service
client experience, with a focus on the launch of our digital
banking platform to allow clients to access banking products
and services through single sign-on access to digital
channels, and digital onboarding for small business clients.
• Enhance our boutique full-service client experience with a
focus to optimize client-facing interactions, leverage the
synergies created within our consolidated equipment financing
and leasing strategy, and enhance our wealth
management offering through further integration of our wealth
operations.
• Leverage our expanding capabilities to offer a superior client
experience through a complete range of in-person and
digital channels and grow our full-service client base.
Drive a positive and inclusive culture and
employee experience to create value for
our people and remain a career
destination for top talent
• Continue to earn recognition as an employer of choice, and a
Great Place to Work CanadaTM.
• Continue to support our employee-represented groups focused
on inclusion, diversity and mental health, including
CWB Women, CWB Pride, New Canadians and Allies,
Indigenous Peoples and Allies, Black Employees and Allies,
CWB
Health 360, and Employees with Disabilities and Chronic
Illness.
• Enhance our talent development and coaching programs to
77. support our position as a destination for top talent.
Transform and diversify our business to
create value for investors through break-
out growth and enhanced profitability
• Continue progression towards AIRB approval, undertaking a
parallel run of our tools and processes to evaluate their
operation through a period of economic stress.
• Capture increased market share within targeted industries
across our growing geographic footprint.
• Continue to grow our brand and market share in Ontario, with
an expanded presence complemented by our full-
service branch in Mississauga and growing wealth management
business.
• Continue to execute on our funding diversification strategy,
with strong growth of branch-raised deposits.
IMPACT OF COVID-19 AND OUR RESPONSE
The impact of the market disruption related to the COVID-19
global pandemic on the Canadian economy continues to be
unprecedented and widespread, creating a
challenging operating environment for our teams and clients
across all industries and provinces. Canadian federal,
provincial, and municipal governments began restricting
mobility and social interaction in March in an effort to limit the
spread of infection, which significantly curtailed economic
activity and energy demand. Initial efforts to
control the pandemic had positive results and the subsequent
phased re-opening of economies across the country occurred at
varying speeds. Following a strong initial
recovery in economic activity from the trough in April,
supported by various programs put in place by policymakers to
78. provide system-wide liquidity and financial support,
there are encouraging signs that economic activity will continue
to rebound, but at a slower pace. However, this pandemic is not
static and all levels of government across
Canada continue to adapt restrictions as COVID-19 infection
rates fluctuate. The pandemic and evolution of containment
measures remain unclear and we continue to
closely monitor developments.
SUPPORTING OUR PEOPLE
Our first priority remains the well-being of our teams and
clients. We continue to take measures to ensure their health and
safety. Most restrictions on travel and in-person
gatherings and events remain in place. A significant proportion
of our team members continue to work remotely and we have
taken steps to ensure they are appropriately
equipped to do so. We recognize that our current remote
working arrangements, which are in place to protect our teams,
clients and communities, have an impact on our
team members and we have expanded our focus on mental
health supports. All business locations, including those that
were temporarily closed, remain open with reduced
operating hours and additional safety measures in place. Where
employees are working on our premises, we follow physical
distancing conventions and have implemented
enhanced cleaning and sanitization practices as well as a
mandatory mask protocol. We will prudently migrate our teams
back to the workplace and open our locations to
full occupancy based on a strategy that is focused on the
continued well-being of our teams and clients and considers
evolving government and health authority physical
distancing restrictions.
We have had no layoffs or furloughs related to the economic
impact of the COVID-19 pandemic. Our teams continue to
79. proactively support our clients and maintain our
normal high service levels.
24 | CWB Financial Group 2020 Annual Report
SUPPORTING OUR CLIENTS
Our teams continue to provide a full range of services to our
clients – through both digital channels and in-person. Under our
#CWBhasyourback program, we mobilized our
teams to proactively reach out to our clients to deliver
individualized advice and support, and assist in adapting their
banking to allow more operations to be completed
remotely. We worked closely with our clients experiencing
temporary financial difficulty to manage payment deferral
options and support access to government programs
on a case-by-case basis. We provided payment deferrals to over
25% of our loan portfolio to help our clients manage through
the economic turbulence. As payment deferral
periods conclude, we have been successful in working with
clients to resume normal payments. The percentage of
outstanding loans deferring payments has declined to
approximately 1%, with three quarters of those clients paying
the interest portion of their contractual payment.
Our teams continue to actively support our clients through
government lending initiatives to provide businesses with relief
through this period of market disruption. At
October 31, 2020, we administered the advance of nearly $90
million of Canada Emergency Business Account loans, which
are funded by the federal government and not
carried on our balance sheet. At October 31, 2020, we also
funded approximately $130 million of loans, carried on our
balance sheet, with partial federal government
80. guarantees through Export Development Canada’s Business
Credit Availability Program.
RISK MANAGEMENT
The emergence of COVID-19 and the potential for prolonged
adverse general business and economic conditions combined
with a very low interest rate environment has
elevated certain risk factors that may impact our financial
results. We remain well-positioned to manage these risks. We
maintain an integrated and disciplined approach
to risk management, which guides us in prudent risk-taking
aligned with our strategic objectives for growth and our risk
appetite. We continue to manage the evolving risks
associated with the COVID-19 pandemic within our existing
enterprise risk management framework. Our capital and
liquidity positions remain strong and we are confident
that our talented teams, supported by our strong, well-
diversified balance sheet, will enable us to successfully
navigate through this market disruption and maintain our
focus on execution of targeted strategic initiatives.
Comprehensive details on the risks that may impact our
operations can be found in the Risk Management section of this
MD&A. Significant risk impacts arising from the ongoing
market disruption related to the COVID-19 pandemic are
described below.
CREDIT RISK
To limit the spread of COVID-19, beginning in March,
businesses across many industries ceased or substantially
reduced operations in response to government mandates to
close non-essential businesses, resulting in employee layoffs or
furloughs, with small- and medium-sized businesses particularly
hard hit. Programs put in place by
government agencies have provided temporary relief to our
81. clients and the relaxation of mandated containment measures
has begun to positively impact the economy.
The conclusion of payment deferrals and government relief
programs, as well as further extended periods of curtailed
economic activity combined with continued elevated
levels of unemployment and existing levels of household debt,
may adversely impact our credit risk and could result in hi gher
credit loss experience in future periods.
Prolonged adverse economic conditions also have the potential
to negatively impact the market value of underlying collateral
securing our loans.
As initial payment deferral arrangements concluded,
predominantly under three-month terms, we have been
successful in working with clients to resume normal payments.
Requests for new, additional or extended payment deferrals
largely subsided in July and August.
We have expanded our Special Asset Management Unit to
support our teams as we work through the market disruption and
economic recovery. Our exposure within
industries particularly affected by the economic shutdown is
well-diversified and supported by high-quality, resilient
borrowers. Our strong credit risk management
framework, including well-established underwriting standards,
the secured nature of our lending portfolio with conservative
loan-to-value ratios, and our proactive approach
to working with clients through difficult periods, is further
enhanced by the capabilities developed to support our final
AIRB application. Our credit risk management practices
have proven to be very effective, and we have a history of low
write-offs as a percentage of total loans, including through
periods of economic uncertainty.
LIQUIDITY RISK
82. Market volatility and prolonged periods of economic stress
impact how our clients manage their deposits and loans, which
may result in deposit withdrawals and draws on
lines of credit as well as loan payment deferrals. Market
disruption may also impact our ability to access other funding
sources on a cost-effective basis. Despite initial
turmoil in funding markets at the onset of the pandemic, the
Bank of Canada, alongside other federal bodies, was quick to
react with various programs to provide system-
wide liquidity and funding costs have normalized. We offer
competitive deposit rates across all channels and have generated
robust branch-raised deposit growth without
sacrificing net interest margin. Business client line of credit
utilization has generally trended down through the year. Our
liquidity position remains strong and we continue
to prudently manage liquidity as the economy recovers.
OPERATIONAL RISK
With a significant number of our team members working from
home, our dependence on remote access to information
technology and supporting infrastructure has
increased. We regularly monitor, assess and revise our business
continuity approach and response to ensure our ability to
maintain critical operations through periods of
business disruption. Our dedicated team and low absenteeism
have supported stability within our operations and we have
maintained our normal high service levels. Our
Information Services team has worked diligently to ensure that
all of our teams have uninterrupted remote access to required
technology and infrastructure through our
secure platforms. We remain vigilant regarding the
effectiveness of our risk controls related to increased cyber
security and fraud risks, which are typically elevated during
volatile periods.
83. CWB Financial Group 2020 Annual Report | 25
CWB FINANCIAL GROUP PERFORMANCE
OVERVIEW
Financial Highlights of 2020 (compared to 2019)
• Solid loan growth of 6% with continued execution against our
balanced growth strategic objectives for geographic and
industry diversification, including very
strong 13% growth in general commercial loans and 12% growth
in Ontario.
• Very strong branch-raised deposit growth of 20%, including
34% growth of demand and notice deposits.
• Common shareholders’ net income of $249 million, down 7%.
• Diluted and adjusted earnings per common share of $2.86 and
$2.93, down 6% and 7%, respectively.
• Pre-tax, pre-provision income of $469 million, up 2%, and
total revenue of $897 million, up 4%.
• Net interest margin of 2.45% was down only 15 basis points,
despite a cumulative 150 basis point reduction in the Bank of
Canada’s policy interest rate in March,
as a result of a favorable shift in our funding mix due to
sustained strong branch-raised deposit growth and proactive
deposit pricing changes executed in response
to market conditions.
• Provision for credit losses on total loans representing 32 basis
84. points of average loans, compared to 21 basis points last year,
primarily due to the economic impact
of the COVID-19 pandemic on the estimated performing loan
allowance.
• Gross impaired loans represented 0.85% of gross loans, up
from 0.52% last year. As a percentage of average loans, the
provision for credit losses on impaired
loans of 18 basis points was lower compared to 21 basis points
last year and our five-year average of 22 basis points.
• Efficiency ratio of 47.7%, or 46.9% excluding the impact of
the wealth acquisition, compared to 46.5% last year as
continued investment in strategic execution
outpaced revenue growth in the very low interest rate
environment.
• Strong Basel III regulatory capital ratios under the
Standardized approach for calculating risk-weighted assets of
8.8% common equity Tier 1 (CET1), 10.9% Tier 1
and 12.6% Total capital.
SELECT FINANCIAL HIGHLIGHTS
Table 4 - Select Annual Financial Information(1)
($ thousands, except per share amounts)
Change from 2019
2020 2019(2) 2018(2) $ %
Key Performance Indicators
Total revenue $ 897,395 $ 861,604 $ 803,358 $ 35,791 4 %
Pre-tax, pre-provision income 469,318 461,130 436,188
85. 8,188 2
Common shareholders' net income 248,956 266,940 249,256
(17,984) (7)
Earnings per share
Basic 2.86 3.05 2.81 (0.19) (6)
Diluted 2.86 3.04 2.79 (0.18) (6)
Adjusted 2.93 3.15 3.01 (0.22) (7)
Return on common shareholders' equity 9.3 % 10.9 % 11.0 %
(160) bp(6)
Adjusted return on common shareholders' equity 9.5 11.3 11.9
(180)
Return on assets 0.76 0.88 0.89 (12)
Net interest margin 2.45 2.60 2.60 (15)
Efficiency ratio(3) 47.7 46.5 45.7 120
Operating leverage(4) (2.7) (1.8) 1.9 (90)
Provision for credit losses on total loans as a
percentage of average loans(5) 0.32 0.21 0.20 11
Provision for credit losses on impaired loans as a
percentage of average loans(5) 0.18 0.21 0.19 (3)
Other Financial Information
Total assets $ 33,937,865 $ 31,424,235 $ 29,021,463 $
2,513,630 8 %
86. Dividends per common share 1.15 1.08 1.00 0.07 6
(1) See page 20 for a discussion of non-IFRS measures.
(2) In fiscal 2019, we adopted IFRS 9 Financial Instruments
(IFRS 9) and in fiscal 2020, we adopted IFRS 16 Leases (IFRS
16) (refer to Note 1 of the consolidated financial statements).
Comparative figures have been
prepared in accordance with prior accounting standards,
specifically IAS 39 Financial Instruments: Classification and
Measurement (IAS 39) and IAS 17 Leases (IAS 17), and have
not been restated.
(3) A decrease in the ratio reflects improved efficiency, while
an increase reflects deterioration. Excluding the impact of the
wealth acquisition, our efficiency ratio would have been 46.9%
in fiscal 2020.
(4) Excluding the impact of the wealth acquisition, our
operating leverage would have been negative 1.0% in fiscal
2020.
(5) Includes provisions for credit losses on loans, committed but
undrawn credit exposures and letters of credit.
(6) bp – basis point
26 | CWB Financial Group 2020 Annual Report
Summary of Operations
The emergence of COVID-19 resulted in a significant adverse
shock to the Canadian economy, widespread curtailment of
economic activity, elevated unemployment rates,
decreased business investment and increased dependence on
financial assistance, temporary loan payment deferrals and
subsidy programs. Although these conditions put
significant downward pressure on our operating results
87. compared to the prior year, our investments in technology and
product offering enhancements in recent years
combined with our ongoing strategic execution to diversify our
business and bolster funding sources allowed us to enter this
period of volatility from a position of strength.
We remain confident in our ability to continue to support our
clients and people through these challenging times, while
maintaining a prudent approach to lending, and
managing our liquidity and capital levels.
Strong branch-raised deposit growth combined with successful
execution of our diversified funding strategy provided a robust
position leading into and through ongoing
market disruption. Our number of full-service clients, who have
a core banking relationship with us, increased during the year
and contributed to branch-raised deposit
growth. We delivered very strong 20% growth of branch-raised
deposits, with the increase primarily driven by lower-cost
demand and notice deposits. This strong
performance resulted in a 13% reduction in our outstanding
balance of broker deposits.
During the year, we generated solid loan growth of 6% as we
continued to deliver against our balanced growth objectives.
Loan growth was led by a 13% increase in the
strategically targeted general commercial portfolio, which
reflected ongoing efforts to increase full-service relationships
across our national footprint. Ontario loans
increased 12%, representing approximately 45% of overall loan
growth.
Total revenue increased 4% during the year. Net interest income
was up 2% compared to last year, reflecting the positive impact
of 6% loan growth partially offset by a 15
basis point reduction in net interest margin. The decline in net
interest margin was due to a cumulative reduction in the Bank
88. of Canada policy interest rate of 150 basis
points in March, partially offset by a favorable shift in our
funding mix due to sustained strong branch-raised deposit
growth and proactive deposit pricing changes. Non-
interest income was up 29% from last year, primarily due to the
five-month contribution of our wealth acquisition combined
with higher net gains on securities related to
re-balancing of our cash and securities portfolio in light of
market volatility.
The performing loan allowance for credit losses is our most
significant accounting estimate, using an expected credit loss
(ECL) model that considers past performance and
forward-looking economic variables. The 46% or $41 million
increase in the estimated performing loan allowance compared
to last year was driven by a significant adverse
shift in current and forecast macroeconomic conditions
primarily due to the COVID-19 pandemic. Our provision for
credit losses on performing loans represented 14 basis
points as a percentage of average loans, compared to nil last
year.
Gross impaired loans of $257 million increased 73% from last
year. The level of gross impaired loans fluctuates as loans
become impaired and are subsequently resolved,
and does not directly reflect the dollar value of expected write -
offs given tangible security held in support of lending
exposures. We remain confident in our strong credit
risk management framework, including well-established
underwriting standards, the secured nature of our lending
portfolio with conservative loan-to-value ratios, and
proactive approach to working with clients through difficult
periods. As a percentage of average loans, the provision for
credit losses on impaired loans of 18 basis points
was lower than 21 basis points last year and our five-year
average of 22 basis points.
89. Although the challenging operating environment dampened our
revenue growth, we continued to execute on our strategic
priorities to build the culture, capabilities,
technology, and brand for CWB to be a disruptive force in
Canadian financial services, deliver profitable long-term growth
and enhance shareholder returns for years to
come. We also expanded our brand and market share in Ontario,
supported by the wealth acquisition and the opening of our
Mississauga branch, our first CWB full-service
branch in the province.
We continued to advance our business transformation and
digital capabilities to ensure we are well-positioned to
accommodate an expected shift in consumer preference
towards digital banking. We launched digital onboarding for
Motive Financial clients, our digital-only channel, and extended
the capabilities to all current and prospective
personal clients in November 2020. As we continue to replace
our existing online platform with a seamless end-to-end digital
banking experience for business and personal
clients, our investments will significantly enhance our digital
capabilities and complement our high-touch, personalized
service. This will allow us to continue to diversify our
business across Canada by attracting new clients both within
and outside of our branch footprint, while further broadening
our access to lower cost funding.
Initiatives to optimize client facing operations within our
banking branches continued this year and included improved
cash management processes to provide our teams
with efficient and intuitive tools that simplify interactions
across all teams, an expanded branch and client support centre
to assist our frontline teams and streamlined
lending administration activities to more efficiently support
higher levels of client service and growth. We also relocated
90. two branches to new locations featuring a client-
inspired design with open, adaptable and collaborative spaces.
Together, these initiatives will boost our capabilities to deliver
on our reputation for proactive, personalized
service through both in-person and digital channels in a highly
scalable manner.
Non-interest expenses were up 8% due to the combined impact
of the wealth acquisition, continued investment in our teams
and technology to support overall business
growth, and non-recurring costs related to organizational
redesign initiatives that will result in future cost savings and
support accelerated delivery against our strategic
priorities, partially offset by reduced spending on certain
expenses in light of the current operating environment.
Excluding the wealth acquisition and non-recurring costs
related to organizational redesign initiatives, non-interest
expense growth was 2%. Growth of non-interest expenses
outpaced total revenue growth, resulting in an efficiency
ratio of 47.7%, or 46.9% excluding the wealth acquisition,
compared to 46.5% last year. Excluding the wealth acquisition,
operating leverage of negative 1.0% improved
compared to negative 1.8% last year.
The very low interest rate environment and elevated levels of
estimated credit losses on performing loans put downward
pressure on our earnings this year. Diluted earnings
per common share of $2.86 and adjusted earnings per common
share of $2.93 were down 6% and 7%, respectively. Our
adjusted return on common shareholders’ equity
(ROE) of 9.5% decreased 180 basis points due to the impact of
an 8% decline in adjusted common shareholders’ net income and
higher average common shareholders’
equity.
The maintenance of strong and conservative capital levels is
91. fundamental to our objectives to effectively manage risks and
support strong growth. Our Basel III CET1 capital
ratio at October 31, 2020 remained strong at 8.8%, compared to
9.1% last year. The change from last year primarily reflected
the impact of the wealth acquisition. Including
Tier 1 and Total capital ratios of 10.9%, and 12.6%,
respectively, all of our capital ratios remain above both internal
and regulatory minimums. Based on results of ongoing
stress testing and scenario analysis, we remain confident in our
ability to deliver positive earnings for shareholders while we
maintain financial stability, our current dividend,
and a strong capital position.
CWB Financial Group 2020 Annual Report | 27
Fiscal 2021 Outlook
We began fiscal 2021 coming off a year of unprecedented
economic volatility, in its scale and impact on our clients,
people, and investors. We expect our overall
financial performance in fiscal 2021 to reflect a balance
between continued investment in our ability to deliver an
unrivaled experience for our clients and recognition
that revenue growth will be negatively impacted by curtailed
economic activity and a very low interest rate environment in
the near term. We will prudently manage
expenses and continue to execute on priorities aligned with our
strategic direction. We know that the current economic
volatility will pass, and continued strategic
execution will ensure we are well-positioned to deliver
profitable long-term growth and enhance shareholder returns for
years to come.
Based on our expectations related to a gradual Canadian
92. economic recovery and key performance drivers discussed
below, we expect to deliver in fiscal 2021:
• adjusted earnings per common share and adjusted ROE
relatively consistent with fiscal 2020;
• an elevated efficiency ratio compared to our historical
experience as we continue to execute on our strategic priorities
and as a result of the wealth acquisition;
• a strong CET1 capital ratio; and,
• a quarterly common share dividend that remains at its current
level in light of regulatory restrictions on dividend increases.
Expectation of a gradual Canadian economic recovery
After an initial rebound in the latter half of calendar 2020, the
Canadian economy is expected to follow a more gradual
recovery in 2021. A gross domestic product
(GDP) recovery and reduction in unemployment rates fueled by
the re-opening of the economy in mid-2020 and the impact of
various government and central bank
stimulus programs is expected to continue throughout 2021,
albeit at a slower pace. We expect economic performance in
2021 within our largest provincial markets
to vary based on factors unique to each region. Despite positive
results of the re-opening measures, considerable uncertainty
remains regarding the strength, speed
and sustainability of the economic recovery and the ultimate
impact it will have on businesses and consumers. Critical
factors to the recovery of the Canadian economy
include the evolution of COVID-19 infection rates, measures
enacted by all levels of government to slow the spread of the
virus and the speed of vaccine development
and delivery. In our outlook for financial performance for fiscal
93. 2021, we have assumed that the measures undertaken by health
authorities do not trigger a second
significant GDP recession and spike in unemployment levels
like we experienced in the Spring of 2020.
Given the uncertainty of the economic outlook, we continue to
perform additional stress testing, using our AIRB and IFRS 9
models to simulate the impacts of a more
severe and prolonged period of challenging economic conditions
throughout our geographic footprint. Considering the results of
these stress tests and the uncertain
economic outlook, we remain confident in our ability to deliver
positive earnings for shareholders while we maintain financial
stability, our current dividend, and a
strong capital position.
Profitable loan growth with continued strategic diversification
Continued strategic execution has positioned us to capture
increased market share within a larger addressable market,
despite the potential for varying degrees of
volatility in the current operating environment. We strive to be
more proactive than our competitors and have embodied this
aspiration during this period of market
disruption, giving business owner clients a clear alternative to
the large Canadian banks. We will continue to support high-
quality borrowers with a focus on business
owners operating within targeted industry segments across
Canada. In fiscal 2021, we expect to deliver mid-single digit
percentage loan growth, whenever prudent.
This includes a continued focus on secured loans that offer an
appropriate return and acceptable risk profile.
We continue to target further geographic and industry
diversification through growth of client relationships in targeted
industries across our national footprint. We
94. expect growth in Ontario to continue to reflect ongoing
contributions from our established businesses, as well as our
first CWB branch in the province. We expect
continued higher relative growth in our strategically targeted
general commercial portfolio, which reflected ongoing efforts to
increase full-service relationships
across our national footprint.
We expect growth in our remaining portfolios to remain
relatively consistent with our overall growth rate of loans, with
the exception of real estate project loans.
We continue to assess construction-related lending
opportunities within targeted markets. Our expectations for
restrained growth of real estate project loans reflect
the combined impact of this portfolio’s relatively short duration
and our strategic focus to grow other portfolios more quickly.
Within the parameters of our
established risk appetite, we will continue to finance well -
capitalized developers on the basis of sound loan structures and
acceptable pre-sale/lease levels and have
a strong pipeline of new lending opportunities, particularly as
the economy recovers and delayed construction re-commences.
Credit quality
We expect impaired loans as a percentage of total loans to
increase in fiscal 2021, particularly as government support and
payment deferral programs conclude and
the slow economic recovery continues. As a result, impaired
loan allowances and write-offs may increase from current
levels. However, we are confident in the
strength, diversity and underwriting structure of the overall loan
portfolio and our proactive approach to account management to
help mitigate actual loan losses.
While IFRS 9 affects the timing of the recognition of credit