Professional Development
 
Seminar

Investment Seminar

Toronto - November 12, 2013


PROGRAM

07:00 – 15:00          Registration and CIA Information Desk

 

07:15 – 08:00          Buffet Breakfast

 

08:00 – 08:55 – Session 1 (Joint) Managing Volatility in Today’s World
Moderator:
Eric Fontaine (FCIA), senior consultant and director of multi-manager strategies, Pavilion Financial Corporation
Speaker:    
Nicolas Papageorgiou*, associate professor, department of finance, HEC Montréal

In today’s risk on/risk off world, in which asset volatilities and correlations are more unpredictable, the need to actively manage risk has become increasingly important. Over the last few years, solutions have been proposed to assist investors in managing their equity risk exposure. This session will analyze a number of them, focusing specifically on volatility products and strategies. We will discuss how these strategies are implemented, the operational issues that must be addressed, and potential benefits and drawbacks.  

9:00 – 10:30             Concurrent Sessions

Session 2 (Pension) Financial Economics vs. Actuarial Practice
Moderator:
Harry Satanove (FCIA), pension actuary, Satanove & Flood Consulting
Speaker:
Jeremy Gold*, consulting actuary, Jeremy Gold Pensions

This session will present the rationale behind the financial economic approach in determining and recognizing costs of employee benefit plans. It will outline key differences that exist with the current actuarial practice.

Session 3 (Insurance) Investment Implications of ORSA
Moderator:
Ashley Goorachurn (FCIA), assistant vice-president of portfolio management, Sun Life Financial
Speakers:
Simon Curtis (FCIA), chief financial officer for North America, Munich Reinsurance
Jean-Yves Rioux (FCIA), senior manager, Deloitte & Touche

This session will consider the key elements of a sound Own Risk and Solvency Assessment (ORSA) for insurers in Canada, including its implications for the management of risk, assets and liabilities, and investments.
 

10:30 – 10:45          Networking Break

10:45 – 12:15          Concurrent Sessions


Session 4
(Pension) Investment Implications of Target Benefit Plans

Moderator:
Ross Dunlop (FCIA), vice-president, investments and portfolio manager, Cardinal Capital Management
Speakers:
Paul McCrossan (FCIA)
Jessica Bullock*, partner, Davies

This session will present the main characteristics of target benefit plans and how such plans differs from traditional defined benefit or defined contribution retirement plans. It will explore the key implications from an investment and risk management perspective of implementing a shared-risk pension model.

Session 5 (Insurance) Economic Capital
Moderator:
Patrick Chamberland (FCIA), director advisory services, risk management monitoring and policies, Caisse de dépôt et placement du Québec
Speakers:
Bogie Ozdemir*, vice-president, risk modelling and governance, Sun Life Financial
Daniel Finn*, vice-president, Conning Asset Management

The development of economic capital models in Europe has been given significant impetus by Solvency II. This session will outline the roles of economic capital, different ways to define it, and challenges insurers face in its application.

12:15 – 13:05          Luncheon

13:15 – 15:20          Joint Sessions


13:15 – 14:15 – Session 6
(Joint) Keynote Address: Economic Outlook
Moderator:
Ross Dunlop (FCIA), vice-president, investments and portfolio manager, Cardinal Capital Management

One of Canada’s most influential economists will discuss macro-economic policy and its possible implications for financial markets. A key player in Canada’s world of finance, this speaker is not to be missed by anybody interested in the latest thinking on what the future holds for pensions and life insurance.

Further information about the speaker’s identity and background is available only to CIA members, who should click here (must be logged into members site). The speaker's comments will be off the record.

14:20 – 15:20 – Session 7 (Joint) The Global Economic Landscape and Investing in Emerging Markets
Moderator:
Patrick Chamberland (FCIA), director advisory services, risk management monitoring and policies, Caisse de dépôt et placement du Québec
Speaker:
Jan Dehn*, head of research, Ashmore Investment Management

This session will provide an overview of the geopolitical landscape currently prevailing in the developing world and the key opportunities and risks that institutional investors should consider when investing in emerging markets.

15:20             Closing Remarks

 

 *Not a member of the CIA.