RISK MANAGEMENT IN FINANCIAL INSTITUTIONS

Determination of economic capital
Dr. Alexander Shipilov

Regulatory capital – Basel II and solvency II
Rudolph Persaud

Operational risk management: Measuring what matters
Barry Rowland

Measuring credit risk in a value-at-risk framework
Mark Zelmer

Strategies for managing reputation risk
Robert Dobbins

Governance and compliance: Integrating regulatory requirements and risk
Barry Rowland

Barry Rowland is a senior partner in Ernst & Young's Financial Services Advisory Practice. From 2000 to 2004 he practiced in the assurance and advisory practice of Ernst & Young in the U.S. serving U.S. and international financial institutions. Prior to 2000, he was Ernst & Young's financial services practice leader in Toronto from 1993 to 1999. Barry's background has covered assurance and advisory services to banks, insurers, broker/dealers and lessors including substantive experience in the design, documentation and evaluation of governance, risk management and control systems for all phases of credit, financial, operational and strategic aspects of the financial sector. He has provided services to and had ongoing communications with senior management teams, regulators and directors at his clients in respect of these matters, and is familiar with the expectations and needs of all these constituencies. As well he served on the CICA's Financial Institutions Advisory Committee.

As the Assistant Vice-President, Compliance and Risk Management at AIM Trimark Investments, Robert Dobbins has over 11 years of investment funds industry experience. He has held a variety of progressive management roles spanning compliance and operations, with an emphasis on risk management and investigative assignments over the last 5 years. Significant areas of risk management responsibility now include anti-money laundering, code of ethics, fraud investigations and regulatory compliance. He is a member of the internationally acclaimed National Society of Compliance Professionals and has actively served on various committees and working groups with the Investment Funds Institute of Canada.

Dr. Alexander Shipilov is a Director of Risk Advisory Services at PricewaterhouseCoopers. He has consulted financial institutions and corporate treasuries on valuation and risk management issues, working in the U.S., U.K, Spain and Russia. In Canada, his specific area of expertise includes implementation and validation of valuation and risk measurement models and control procedures used in financial institutions and treasuries dealing with valuation/risk measurement models, structured products and complex derivative instruments. Dr. Shipilov serves as Secretary/Treasurer on the Board of Directors for the Professional Risk Managers' International Association (http://www.prmia.org).

Mark Zelmer is the Director of the Bank of Canada's Financial Risk Office and a member of two management committees that advise the Bank's Governing Council on financial system and monetary policy issues. He has been with the Bank for almost 16 years, excluding a four-year stint with the International Monetary Fund between 2000 and 2003. In his current role he is responsible for providing strategic leadership to the Bank's new risk management office and has led its efforts to modernize the monitoring and reporting on the risks embedded in the federal government's debt and foreign reserves. While he was with the IMF, he played leading roles in assessing the soundness of various countries' financial systems and advised emerging market countries on issues related to the design of their monetary frameworks, the development of financial markets and the management of their public debt.

John F. Cairns is the Vice President and General Counsel of Chubb Insurance Company of Canada. Mr. Cairns is responsible for providing legal services and managing the corporate legal affairs of Chubb, including elements of regulatory compliance. Mr. Cairns joined Chubb in 2000 as General Counsel and was appointed Vice President of Chubb in 2002. Prior to joining Chubb, Mr. Cairns practiced insurance defense litigation for nine years both in private practice and in-house with leading Canadian property and casualty insurance companies. Following his litigation career, he became litigation management counsel for one of Canada's largest Property and Casualty insurers. Mr. Cairns is a member of the Canadian Bar Association, Canadian Corporate Counsel Association and the Chartered Insurance Professionals' Society.

Tyler Kim is a Senior Manager in Ernst & Young's Financial Services Advisory practice with over 13 years of financial services industry experience. As both a management consultant and an industry executive, Tyler has led major operations reengineering, product launch and systems development initiatives for asset managers in Canada and the U.S. Asset management clients that Tyler has worked with include The Capital Group Companies, AMVESCAP/ AIM Trimark Investments, Fidelity Investments, CIBC Asset Management, Scotia Securities Inc., and National Bank / Altamira. As a Vice President of Information Technology at AIM Trimark Investments, Tyler's management responsibilities spanned several key functions within an IT department of approximately 150 staff. From 2001-2003, he led the post-merger transformation of AIM Trimark's IT department, enabling improved controls and systems integrity while significantly reducing expenses. Tyler holds a B.Sc. in Industrial Engineering from Stanford University.

Rudolph Persaud is a Senior Manager and head of the Risk Management and Compliance practice at Ernst & Young Canada. He has over twenty years of progressive experience developing risk management and trading systems for equity, fixed income, derivatives, foreign exchange and credit products at major financial institutions. Rudolph most recently led the implementation of a large capital adequacy measurement program at a leading Canadian bank and designed the framework to optimize business unit operational processes using shared services. He has managed the development of an economic capital measurement program, a simulation based market risk calculator and has also implemented compliance processes for limit monitoring and collateral suitability.