The document is a newsletter from PRMIA Toronto providing updates on upcoming risk management events in January and February 2013. The January events focus on advanced stress testing and governance/risk management, while the February event will discuss counterparty credit risk. The newsletter also provides information on careers in risk management, the PRM certification, and invites speakers and sponsors.
Paris Internatioanl Fintech Summit in May 2016Baruk Pilo
The Fintech Summit, an initiative of the Tech Tour and the International Venture Club, will take place in Paris May 3-4, 2016 and will focus on showcasing the best investment opportunities within the fintech industry in Europe.
Global Investments in Fintech tripled to $12.21 billion in 2014 from $4.05bn in 2013 (Source: Accenture) and fintech is one of the fastest growing sectors in the European Market. The agenda will include 20 innovative company presentations by CEOs, discussion panels, keynotes and top level networking including the Networking Dinner. 120+ guests will be present at the dinner, representing the "Who's Who" of the Fintech and Venture Capital market who are invited to join our Tech Tour delegates, including top executives from blue chip technology companies, international venture capitalists, investment bankers, specialized press, regional accelerators and advisers coming from all around the world.
The programme and pitches will revolve around the following themes:
Payment & Billing Tech
Personal Finance
Insurance Tech
Lending
Money Transfer
Digital Currency
Tools
Global Technology Trends & Startup Hubs 2015Bernard Moon
Provides an overview of general technology trends, global venture capital trends, and startup trends around the world. Snapshots of the top 10 startup hubs in the world: Silicon Valley, NYC, London, Stockholm, Berlin, Tel Aviv, Beijing, Seoul, Boston, and Los Angeles.
State Of European FinTech: Current Trends & Prediction 2017Innovate Finance
A report by Magister Advisors and Innovate Finance shows that capital invested into $20 million + rounds have increased at a compound annual growth rate of 75% since 2013.
Cento Ventures Southeast Asia Tech Investments 2018Renata George
Top three things to know about Southeast Asia Tech Investment Activity in 2018 and the full report by Cento Ventures:
- Exits in the range of USD50M - USD100M are happening more often
- VCs actively invest in fintech, real estate, logistics, and business automation startups
- Lack of seed capital - Deals smaller than USD0.5M continue to decline
Paris Internatioanl Fintech Summit in May 2016Baruk Pilo
The Fintech Summit, an initiative of the Tech Tour and the International Venture Club, will take place in Paris May 3-4, 2016 and will focus on showcasing the best investment opportunities within the fintech industry in Europe.
Global Investments in Fintech tripled to $12.21 billion in 2014 from $4.05bn in 2013 (Source: Accenture) and fintech is one of the fastest growing sectors in the European Market. The agenda will include 20 innovative company presentations by CEOs, discussion panels, keynotes and top level networking including the Networking Dinner. 120+ guests will be present at the dinner, representing the "Who's Who" of the Fintech and Venture Capital market who are invited to join our Tech Tour delegates, including top executives from blue chip technology companies, international venture capitalists, investment bankers, specialized press, regional accelerators and advisers coming from all around the world.
The programme and pitches will revolve around the following themes:
Payment & Billing Tech
Personal Finance
Insurance Tech
Lending
Money Transfer
Digital Currency
Tools
Global Technology Trends & Startup Hubs 2015Bernard Moon
Provides an overview of general technology trends, global venture capital trends, and startup trends around the world. Snapshots of the top 10 startup hubs in the world: Silicon Valley, NYC, London, Stockholm, Berlin, Tel Aviv, Beijing, Seoul, Boston, and Los Angeles.
State Of European FinTech: Current Trends & Prediction 2017Innovate Finance
A report by Magister Advisors and Innovate Finance shows that capital invested into $20 million + rounds have increased at a compound annual growth rate of 75% since 2013.
Cento Ventures Southeast Asia Tech Investments 2018Renata George
Top three things to know about Southeast Asia Tech Investment Activity in 2018 and the full report by Cento Ventures:
- Exits in the range of USD50M - USD100M are happening more often
- VCs actively invest in fintech, real estate, logistics, and business automation startups
- Lack of seed capital - Deals smaller than USD0.5M continue to decline
Presented at the Digital Ventures/Siam Commercial Bank Faster Future Fintech Forum (28 Feb 2017, Bangkok) by Paul Ark, Managing Director of Corporate Venture Capital of Digital Ventures
Innovate Finance’s booklet ‘Celebrating Diversity in FinTech’ shines a spotlight on leading FinTech firms and institutions closing the diversity gap in FinTech and promoting inclusion within the workplace.
The booklet features 10 member companies including some of the world’s most successful and exciting FinTech businesses such as Bankable, Neyber, remittance companies Azimo and World Remit, leading banks Lloyds Banking Group and RBS.
Transparency is one of our core values at Seedcamp and we are no strangers to how tough the fundraising process can be. In a continued spirit of openness and to show how - like with startups - our own story and proposition moves on, we're sharing the deck we used to raise our heavily-oversubscribed Seedcamp Fund V.
Read more about our plans to invest in and support the next generation of exceptional European talent on our blog: https://seedcamp.com/news/
Innovate Finance Global Summit 2017 Roundup ReportInnovate Finance
FinTech innovators and leaders from across the world were brought together for the annual Innovate Finance Global Summit on the 10th - 11th April. In the historic setting of the Guildhall in London, the summit convened for two days and explored the opportunities, challenges and future of the FinTech sector, not just in the UK but globally.
Deal marketing on the internet: Using Software to Find Investors and Sell You...OurCrowd
Join me (Zack Miller, head of the investor community at OurCrowd) and Steven Dresner, CEO and founder of dealflow.com and author of Crowdfunding: A Guide to Raising Capital on the Internet, to learn about how entrepreneurs are using Internet technologies to identify, target, and land top-notch investors and how investors are using the same technologies to find investment opportunities.
Join us to learn about:
The cutting-edge ways top companies are raising money online
The 3 mistakes companies make raising money and how to avoid them
How to leverage the added transparency of the Internet and shared data to raise more money, more quickly
"Introduction to 500 Startups" presentation will provide you a comprehensive overview of various activities that we do to promote startup ecosystem globally, discover best early stage companies and help them grow.
Η Παρουσίαση των: Θάλεια Μισαηλίδου, Αλεξία Παναγοπούλου, Elsa Sahnas, Γιάννη Τσακατάνη και Ελίνας Τσαδάρη απο το Greek Finance Network στο Open Coffee #99
Nuestro informe Global Risk Landscape 2016 revela que el 87% de los líderes empresariales consideran que
el mundo se ha convertido en un lugar con mayor riesgo. Para la realización de este estudio, que se inició a
comienzos de 2016, BDO ha consultado a 500 altos directivos de las principales empresas de 44 países de
Europa, Oriente Medio, África, Asia y América acerca de lo que consideran que son los mayores riesgos a los que
enfrentan sus empresas en la actualidad y en el futuro.
Para más de la mitad (56 %) de los líderes empresariales encuestados, la mayor amenaza es el aumento
de la competencia, seguida por la desaceleración económica (43%) y la interrupción del negocio (42 %).
La mitigación del riesgo se ha convertido en una cuestión primordial para la mayor parte de las empresas
consultadas, mientras que la creación de valor es visto como el mayor desafío global del futuro.
Presented at the Digital Ventures/Siam Commercial Bank Faster Future Fintech Forum (28 Feb 2017, Bangkok) by Paul Ark, Managing Director of Corporate Venture Capital of Digital Ventures
Innovate Finance’s booklet ‘Celebrating Diversity in FinTech’ shines a spotlight on leading FinTech firms and institutions closing the diversity gap in FinTech and promoting inclusion within the workplace.
The booklet features 10 member companies including some of the world’s most successful and exciting FinTech businesses such as Bankable, Neyber, remittance companies Azimo and World Remit, leading banks Lloyds Banking Group and RBS.
Transparency is one of our core values at Seedcamp and we are no strangers to how tough the fundraising process can be. In a continued spirit of openness and to show how - like with startups - our own story and proposition moves on, we're sharing the deck we used to raise our heavily-oversubscribed Seedcamp Fund V.
Read more about our plans to invest in and support the next generation of exceptional European talent on our blog: https://seedcamp.com/news/
Innovate Finance Global Summit 2017 Roundup ReportInnovate Finance
FinTech innovators and leaders from across the world were brought together for the annual Innovate Finance Global Summit on the 10th - 11th April. In the historic setting of the Guildhall in London, the summit convened for two days and explored the opportunities, challenges and future of the FinTech sector, not just in the UK but globally.
Deal marketing on the internet: Using Software to Find Investors and Sell You...OurCrowd
Join me (Zack Miller, head of the investor community at OurCrowd) and Steven Dresner, CEO and founder of dealflow.com and author of Crowdfunding: A Guide to Raising Capital on the Internet, to learn about how entrepreneurs are using Internet technologies to identify, target, and land top-notch investors and how investors are using the same technologies to find investment opportunities.
Join us to learn about:
The cutting-edge ways top companies are raising money online
The 3 mistakes companies make raising money and how to avoid them
How to leverage the added transparency of the Internet and shared data to raise more money, more quickly
"Introduction to 500 Startups" presentation will provide you a comprehensive overview of various activities that we do to promote startup ecosystem globally, discover best early stage companies and help them grow.
Η Παρουσίαση των: Θάλεια Μισαηλίδου, Αλεξία Παναγοπούλου, Elsa Sahnas, Γιάννη Τσακατάνη και Ελίνας Τσαδάρη απο το Greek Finance Network στο Open Coffee #99
Nuestro informe Global Risk Landscape 2016 revela que el 87% de los líderes empresariales consideran que
el mundo se ha convertido en un lugar con mayor riesgo. Para la realización de este estudio, que se inició a
comienzos de 2016, BDO ha consultado a 500 altos directivos de las principales empresas de 44 países de
Europa, Oriente Medio, África, Asia y América acerca de lo que consideran que son los mayores riesgos a los que
enfrentan sus empresas en la actualidad y en el futuro.
Para más de la mitad (56 %) de los líderes empresariales encuestados, la mayor amenaza es el aumento
de la competencia, seguida por la desaceleración económica (43%) y la interrupción del negocio (42 %).
La mitigación del riesgo se ha convertido en una cuestión primordial para la mayor parte de las empresas
consultadas, mientras que la creación de valor es visto como el mayor desafío global del futuro.
Tools and Techniques for Operational Risk Management: Regulatory Aspects GlobalCompliancePanel
We then go on to highlights on the pitfalls that await risk managers on the next Frontier, from which: what activities to outsource, setting up a risk appetite, developing a risk culture and a commensurate set of governance processes, what to ensure and not, separating or breaking the silos of risk.
PSD Operational Risk Event - June 2016 PSD Group Ltd
PSD's Banking & Financial Services sector recently hosted a forum to explore risk management in smaller banking firms.
Dr Ariane Chapelle, Director of Chapelle Consulting, was the key note speaker, giving a thought provoking presentation.
ITS 835 enterprise risk management
Chapter 13 & 14
ERM – TD Bank & Zurich Insurance Group
University of Cumberlands
1
Chapter 13: TD Bank
Headquartered – Toronto Canada
2nd largest in Canada & 10th largest in US
85,000 Employees worldwide
Provide Financial Products and Services
22 Million Customers in the following business lines:
Canadian Retail
Wholesale Banking
US Retail
$896 Billion
University of Cumberlands
2
ERM at TD Bank
Enterprise Risk Framework (ERF)
Nature of the risks to TD’s business strategy and operations
How TD defines types of risks
Risk management governance
TD manages risk through processes that identify, measure, assess, control and monitor risk
Risk Appetite
How risks are viewed and what risks to take to grow business
Take risks to build business only if risks
Fit business strategy and can be understood and managed
Do not expose the enterprise to any significant single-loss event
Do not risk harming TD brand
University of Cumberlands
3
TD bank organizational risk
Strategic Risk – potential loss or reputational damage
Credit Risk – Most significant; payment agreement among parties fail
Market Risk – loss in financial instruments or balance sheet due to market factors
Liquidity Risk – Insufficient cash or collateral resources to meet financial obligations without raising funds
Operational Risk – loss from inadequate or failed internal processes
Insurance Risk – loss to insurance factors based on the market
Legal, regulatory and compliance Risk – risk of negative impacts to business activities
Capital Adequacy Risk – Risk of insufficient capital available compared to capital required to complete business goals
Reputational Risk – potential of stakeholder’s impressions based on business practices, activities, etc.
University of Cumberlands
4
TD bank risk governance structure
Business owns all Risks generated and responsible for accessing risks
Design
Implement Controls
Monitoring and Reporting
Members
Senior management committee
CEO and Senior Executive Team
Chief Risk Officer (CRO)
3 Lines of Defense model
Business and corporate line
Setting standards and challenging business assumptions
Independent assurance
University of Cumberlands
5
TD bank risk management processes
Risk Identification, Assessment, and Reporting
Recognize and understand existing risks from new or revolving business activities
Risk Measurement
Quantify risks
Risk Control
How risks are handled through processes
Risk Monitoring & Reporting
Dashboards, Scorecards, Reporting
University of Cumberlands
6
TD bank - conclusion
ERM framework to mitigate risks
TD Bank Risk Appetite
Governance Process
Risk Management Process
University of Cumberlands
7
Chapter 14 – Zurich insurance group
Large global insurance company
10 years using ERM to remain profitable
60,000 employees
Customers in over 170 countries and territories
Capitalize on market opportunities
Tangible Results
Optimizing Risk and Rewards
Risk Culture
University of Cumberlands
8
Zig – ...
1. Toronto
Newsletter
January 2013 Edition
News and Update
Event Updates:
Advanced stress testing and the evolving regulatory
environment
This event will feature Peter Christoffersen, Professor of Finance
at the Rotman School of Management, who currently serves on
the Model Validation Council at the Federal Reserve Board.
The event will be moderated by Greg Frank, VP, Capital Markets
Risk Analytics at CIBC.
Panellists:
•Virginie Traclet, Assistant Chief Financial Institutions Division,
Financial Stability Department, Bank of Canada
•Corina Deaconu, Vice President, Enterprise Risk Management,
Scotia Bank
•Scott Bredall, Partner, Oliver Wyman
Governance and Risk Management
Panel discussion on important corporate governance
considerations for adequate risk oversight at financial
institutions.
Discussion will be moderated by PRMIA representative Vuk
Magdelinic, Global Banking and Capital Markets,
PricewaterhouseCoopers
Panelists:
•Rani Turna, Partner, Global Banking and Capital Markets,
PricewaterhouseCoopers
•Clare Gaudet, Vice President, Enterprise Risk Governance, TD
Bank Group
Our Sponsors
PRMIA LinkedIn groups:
Operational Risk
Market Risk
Credit Risk
Enterprise Risk
Management (ERM)
Liquidity Risk
Exams
Follow us!
2. Upcoming Events
Advanced stress testing in the evolving regulatory
environment
January 29, 2013, 5:15 PM, First Canadian Place, Art Gallery,
100 King St. West.
Governance and Risk Management
January 31, 2013, 5:30 PM, PwC Tower, 18 York Street, 26th
Floor, Suite 2600.
Counterparty Credit Risk: The Impact of CVA, Basel III,
Funding and Central Clearing
February 7-8, 2013
PRM Training
March 2013 - May 2013, RiskLab, University of Toronto
Call for Speakers
PRMIA Toronto is looking for risk professionals and subject
matter experts who are interested in speaking at our events. If
you would like to be added to our speaker list, please fill out this
form and submit it to toronto@prmia.org.
Careers in Risk Management
PRMIA Toronto is organizing a workshop on careers in risk
management. To have your suggested career path incorporated,
please let us know at toronto@prmia.org.
Articles
The Risk of the Single Metric by Bill Sharon
Over the past several decades the number of metrics used to measure a company’s worth have
narrowed to one: profit. The formula is simple
Profit = Excellence
You can find this simple construct in everything from the bombastic pronouncements of Donald Trump
to the harangues of Jim Cramer. While these people may not represent the more thoughtful among us,
make no mistake; their views on what constitutes excellence are widely accepted. The problem is that
the formula makes no sense from a factual perspective and creates tremendous problems in assessing
risk.
Click here to read the paper.
Education
Professional Risk Manager (PRM)
The PRM certification program is the global standard for the world's top financial risk professionals.
Endorsed by leading businesses and leading graduate programs, it counts candidates from more
countries than any other program for risk managers. For more details or to sign up, click here.
Associate Professional Risk Manager (Associate PRM)
3. The Associate PRM is a new PRMIA certificate program intended for staff entering the risk
management profession, or those who interface with risk management disciplines on a regular basis.
For more details or to sign up, click here.
Toronto Job Postings
Advertise in the PRMIA Toronto
Newsletter. Contact us at
torontojobs@prmia.org for more
information.
The PRMIA Toronto newsletter
is sent out to over 6600
members.
Sponsor an Event
Make your company visible by
sponsoring one of our events.
Contact us at
torontosponsorship@prmia.org
for more information.
Our Speaker Database
Submit your name to PRMIA
database of speakers. PRMIA is
always looking for good
speakers, so fill out this form
and email it to
toronto@prmia.org
Recent Events
Past presentations can be downloaded from PRMIA Toronto
website.
Women in Risk Mangement
November 21, 2012, Ivey Leadership Centre, 130 King W.,
Toronto
A Practical Approach to Operational Risk Management
October 11-12, 2012, Toronto
Risk Management Case Competition
June 23/28, 2012, Toronto Board of Trade, West Ballroom, 77
Adelaide Street West, M5X 1C1.
OIS Discounting and Related Challenges - CVA, DVA, FVA
June 26, 2012, 5:30 PM, Ontario Bar Association Conference
Centre, 20 Toronto Street.
11th Annual Canada Cup of Investment Management
May 31-June 1, 2012, 9:00 AM, InterContinental Toronto Centre,
225 Front Street West.
Risk Management in Hedge Funds
May 3, 2012, 5:30 PM, Ivey ING Center, 130 King St. West,
Ground Floor.
Commodity and Energy markets: Current Risks and trends
April 24, 2012, 5:15 PM, First Canadian Place, Art Gallery, 100
King St. West.
8th Buy Side Risk Managers Roundtable: Implications of
Dodd- Frank for financial Institutions
April 18, 2012, 5:30 PM, KPMG Offices, 333 Bay Street, Bay-
Regional Directors
Graham Pugh, OMERS
Mihaela Capra, TD Bank
Steering Committee
Adrian Weiss, Raymond James
Andrea Yu, Accenture
Dan Rosen, R² Financial
Technologies
Dean Bouridis, Canada Business
Plans
Eric Yao, AGF Trust Company
Greg Frank, CIBC Capital
Markets
Hasan Abedi, IPmax
Communications
Hovik Tumasyan, PwC
Justin Lau, TD Bank
Karl Kriese, PFG Canada Inc.
Kruno Perkovic, Synchronycs
Luis Seco, University of Toronto
and Sigma Analysis and
Management
Monisha Sharma, RBC
Nam. A. Nguyen, PwC
Ram Iyer, Magnum Opus
Talal Alam-Eddine, Scotia
Vuk Magdelinic, PwC
Yannick Lefang, TD Bank