2009 Speeches

	Total Documents:23
Remarks by Ted Price, Assistant Superintendent, Supervision Sector, Office of the Superintendent of Financial Institutions Canada, to the 2009 Canada-UK Colloquium on Global Finance, London, England [+/-] "To fully understand the risks, directors need to have a deep understanding of the products and the business of modern banking, not only how banks make money today, but also how they can lose it." Date Published:2009-11-27 Remarks by Superintendent Julie Dickson, Office of the Superintendent of Financial Institutions Canada (OSFI) to the KPMG 2009 Annual Insurance Issues Conference, Toronto, Ontario [+/-] Julie Dickson Biography "Models are a key part of the effort to better understand and manage risk in the financial sector, but they require an abundance of caution. When used properly financial institutions can get a better handle on risk. When used improperly, the risks for financial institutions increase. " Date Published:2009-11-26 Remarks by Superintendent Julie Dickson, Office of the Superintendent of Financial Institutions Canada (OSFI), to the Women in Capital Markets Distinguished Speakers Luncheon, Toronto, Ontario [+/-] Julie Dickson Biography "To the extent that some financial systems were more resilient than others, we need to focus on what worked well. Day-to-day supervision is one such area that deserves focus and that has not been discussed as yet in any great depth internationally; it should be." Date Published:2009-11-18 Remarks by Superintendent Julie Dickson, Office of the Superintendent of Financial Institutions Canada (OSFI), to the 2009 Life Insurance Forum, Cambridge, Ontario [+/-] Julie Dickson Biography " We at OSFI have both banks and insurance companies in mind when we participate in international discussions, and as we consider changes to our approach and requirements. [...] Date Published:2009-11-12 Remarks by Superintendent Julie Dickson, Office of the Superintendent of Financial Institutions Canada (OSFI), to the 2009 OSFI Risk Management Seminar – Property and Casualty, Toronto, Ontario [+/-] Julie Dickson Biography "I cannot overemphasize the importance of having an organization-wide enterprise risk management process in place to help manage the numerous known, unknown, and emerging risks that P&C institutions face in these challenging times. " Date Published:2009-11-05 Remarks by Jean-Claude Ménard, Chief Actuary, Office of the Chief Actuary, Office of the Superintendent of Financial Institutions Canada (OSFI) to the House of Commons Standing Committee on the Status of Women, on the topic of: Women and Pension Security, Ottawa, Ontario [+/-] Jean-Claude Ménard Biography "The status of women within the Canadian pension system is not the same today as it was 30 or 40 years ago. ... Presently, the gap in CPP pensions between males and females is narrowing even if it is not expected to disappear completely." Date Published:2009-11-03 Remarks by Superintendent Julie Dickson, Office of the Superintendent of Financial Institutions Canada (OSFI), to the C.D. Howe Institute Policy Roundtable Luncheon, Toronto, Ontario [+/-] Julie Dickson Biography "With the tumultuous events of the past two years still fresh in our minds, many ideas have been put on the table as proposed solutions to minimize the chance of a repeat of the global financial crisis. " Date Published:2009-10-28 Remarks by Judy Cameron, Managing Director, Private Pension Plans Division, Office of the Superintendent of Financial Institutions Canada (OSFI) to the House of Commons Standing Committee on the Status of Women on the topic of: Women and Pensions, Ottawa, Ontario [+/-] "OSFI recognizes that Canadians are concerned about the health of their pension plans. It is important that governments, regulators and pension plan administrators work together to meet the challenges facing private pension plans." Date Published:2009-10-27 Remarks by Mark White, Assistant Superintendent, Regulation Sector, Office of the Superintendent of Financial Institutions Canada (OSFI), to the Osgoode Hall Financial Regulatory Reform Conference, Toronto, Ontario [+/-] Mark White Biography "Although financial markets world-wide seem to have stabilized, the pressure is still on regulators globally to reduce the chances of a future financial crisis, and to ensure we are better prepared when faced with future challenges." Date Published:2009-10-21 Remarks by Superintendent Julie Dickson, Office of the Superintendent of Financial Institutions Canada (OSFI), to the National Insurance Conference of Canada, Ottawa, Ontario [+] Julie Dickson Biography "As the global financial turmoil has demonstrated, it is important to know, in advance and with as much certainty as possible, what the obligations of a property and casualty company are and tie the vesting of those assets to those obligations, so that Canadian policyholders are protected." Date Published:2009-10-01 Remarks by Superintendent Julie Dickson, Office of the Superintendent of Financial Institutions Canada (OSFI), to the Actuaries Club of Toronto, Ontario [+/-] Julie Dickson Biography "In these turbulent economic times, actuaries both in Canada and abroad, are playing an increasingly important role in the proper functioning of financial service businesses." Date Published:2009-09-23 Remarks by Assistant Superintendent Mark White, Office of the Superintendent of Financial Institutions Canada (OSFI), to the RBC Capital Markets Central Bank Conference, New York, New York [+/-] Mark White Biography "Canada’s sound economic and fiscal situation in recent years is due, at least in part, to the fact that we travelled a different road than many others." Date Published:2009-09-18 Remarks by Superintendent Julie Dickson, Office of the Superintendent of Financial Institutions Canada (OSFI), to the INSOL Eighth World Quadrennial Congress [+/-] Julie Dickson Biography "Consolidated supervision is critical. It enhances the regulator's ability to better understand the risks in a financial group, and take action no matter where in the group problems have been identified." Date Published:2009-06-21 Remarks by Superintendent Julie Dickson, Office of the Superintendent of Financial Institutions Canada (OSFI), to the 2009 OSFI Risk Management Seminar for Life Insurance Companies, Toronto, Ontario [+/-] Julie Dickson Biography "[G]overnance and risk management of life companies is extremely important, and companies must constantly be assessing how well situated they are, and where their weaknesses exist." Date Published:2009-06-09 Remarks by Superintendent Julie Dickson, Office of the Superintendent of Financial Institutions Canada (OSFI), to the Property and Casualty Insurance Industry Forum, Cambridge, Ontario [+/-] Julie Dickson Biography "Times are uncertain, and anything can happen. Risk management is central to a company’s long-term success. Robust scenario testing needs to be undertaken, with multiple unexpected events being considered, and processes to set capital targets need to be robust." Date Published:2009-06-04 Remarks by Superintendent Julie Dickson, Office of the Superintendent of Financial Institutions Canada (OSFI), to the Asian Banker Summit 2009 [+/-] Julie Dickson Biography "Some seem to be selling macroprudential monitoring as the panacea of permanent financial stability, but I think this is an elusive goal." Date Published:2009-05-12 Julie Dickson presents her remarks entitled “Economic and Financial Turmoil: are there Lessons for Boards” to the 2009 Financial Services Invitational Forum today in Cambridge, Ontario [+/-] Julie Dickson Biography "While board performance in the years leading up to the turmoil is the subject of some debate globally, board performance is critical now as financial institutions respond to financial market turmoil and the global recession." Date Published:2009-05-07 Nicolas Burbidge, Senior Director, Compliance Division, presents his remarks at OSFI’s Information Session on anti-money laundering (AML) and anti-terrorism financing (ATF), in Toronto [+/-] Nicolas Burbidge Presentation slides "Over the past few years, significant steps have been taken by private sector leaders to improve Canada’s AML/ATF regime. There is increased scrutiny of financial transactions, and it is now more difficult to launder money in Canada." Date Published:2009-05-06 Remarks by Jean-Claude Ménard, Chief Actuary, to the House of Commons Standing Committee on Finance on the topic of: Measures to Enhance Credit Availability and the Stability of the Canadian Financial System [+/-] Jean-Claude Ménard Biography "[...] it is the ongoing contributions made by working Canadians in addition to long-term investment performance that will determine the Plan's ability to meet its commitments to plan members. " Date Published:2009-04-28 Remarks by Superintendent Julie Dickson, Office of the Superintendent of Financial Institutions Canada (OSFI), to the American Bar Association 2009 Spring Meeting [+/-] Julie Dickson Biography "Inclusion of financial stability is a natural evolution of the original OSFI mandate of solvency regulation; you cannot have strong system stability if you have weak banks and weak regulation and supervision. A strong financial system is made up of strong banks, with a strong and independent regulator. " Date Published:2009-04-18 Remarks by Superintendent Julie Dickson, Office of the Superintendent of Financial Institutions Canada (OSFI) to the House of Commons Standing Committee on Finance, Tuesday, March 10, 2009 [+/-] Julie Dickson Biography "Many past policy and regulatory decisions made in Canada have served the system well, including having robust capital targets, paying attention to the quality of capital…and having a prudent leverage ratio in the banking industry." Date Published:2009-03-10 Remarks by Superintendent Julie Dickson, Office of the Superintendent of Financial Institutions Canada (OSFI) to the OSFI College of RBC Supervisors, Wednesday, February 04, 2009 [+/-] Julie Dickson Biography "...discussion about macro-prudential regulation and system-wide views, is not, and should not, be about diluting the supervisory focus on individual bank risk." Date Published:2009-02-04 Remarks by Superintendent Julie Dickson, Office of the Superintendent of Financial Institutions Canada (OSFI) to the RBC Capital Markets Canadian Bank CEO Conference, Thursday, January 08, 2009 [+/-] Julie Dickson Biography "I think it is important to keep in mind that capital cushions are meant to fall when needed -- otherwise they are not cushions, they are more like cement." Speech (MP3) Date Published:2009-01-08