The Global Risk Institute in Financial Services is a public/private partnership. Our Board includes representatives from the financial sector and the Federal Government of Canada. We seek to embed rigorous oversight and governance practices in our culture to earn and retain the trust of all our members and other partners.
Mark Hughes is the chair of the Global Risk Institute. He is also a member of the Board of Directors of UBS Group AG as well as the chair of the Risk Committee. Previously, he was the Group Chief Risk Officer of Royal Bank of Canada and retired in 2018 after 37 years with RBC.
He serves on the boards of a number of industry associations and not-for-profit organizations. Mr. Hughes is also a Senior Advisor with McKinsey & Co associated with the risk practice and he is a frequent lecturer at Universities of Leeds and Manchester in England
Sonia Baxendale is a highly respected executive who has more than 20 years’ experience in senior leadership roles in the financial services industry. Ms. Baxendale serves on the Board of Directors for a number of Canadian and international corporate and not-for-profit organizations. As the President and CEO of GRI, Ms. Baxendale leads the premier risk management organization for the financial services industry globally.
In this role, Ms. Baxendale brings together leaders from industry, academia and government to focus on emerging risk management issues. The global pandemic has brought to the forefront a confluence of domestic and global concerns – geopolitical tensions, climate change, systemic racism, social and economic disparities. Under Ms. Baxendale’s leadership, GRI has stepped up to develop strategic research and education. She has brought together experts from across the country and the globe to focus on long-term, sustainable solutions for Canada’s economic recovery.
In addition to her role with GRI, Ms. Baxendale is a Director on the Board of Laurentian Bank, Foresters Financial, and The Bank of N.T. Butterfield & Son Limited. She is Chair of the Board of SickKids Foundation and a member of the Board of Trustees for the Hospital for Sick Children.
Prior to joining GRI, Ms. Baxendale was President of CIBC Retail Markets where she led Retail and Wealth Management businesses. Ms. Baxendale played a key role in developing strategy and direction for CIBC and held various leadership roles including Senior Executive Vice-President, CIBC Wealth Management, Executive Vice-President, Asset Management, Card Products and Collections, and Executive Vice-President of Global Private Banking and Investment Management Services. Prior to CIBC, Ms. Baxendale held various positions with American Express Canada and Saatchi & Saatchi.
Ms. Baxendale is a graduate of the University of Toronto, where she was named University of Toronto, Victoria College Alumni of Distinction in 2017. She was named one of the “Top 100 Most Powerful Women in Canada” for three years in a row and then joined the ranks of the Top 100 Hall of Fame in 2010. In 2000, she was recognized as one of Canada’s Top 40 Under 40.
Antoine Avril serves as Executive Vice-President and Chief Risk Officer for Desjardins Group. He was appointed Executive Vice-President and Chief Risk Officer and a member of the Executive Management Committee in March 2023. As the Chief Risk Officer for the Group, Mr. Avril is responsible for group-wide integrated risk management, including strategic, operational and financial risks (credit, market, insurance).
Antoine Avril joined Desjardins in 2010 and held leadership positions in both the business lines and risk management. Notably, he was Head of Loan Structuring and Syndications, Co-Head of Corporate Banking, Head of National Accounts and Real Estate Financing, and Chief Credit Officer.
Prior to joining Desjardins, Antoine worked in Canada and Europe in a variety of capital markets and risk management roles within the banking industry.
Antoine holds a M.Sc. in Management and Regulation of Risk from the London School of Economics and Political Science and a MSG in Finance from Université Paris IX Dauphine.
Ajai Bambawale is Group Head and Chief Risk Officer, TD Bank Group. In his role, he is accountable for oversight of Risk Management for TD’s Global operations.
Previously, he served as Chief Risk Officer for TD Bank, America’s Most Convenient Bank. Prior to his U.S. appointment, Ajai was Vice Chair and Head of the Europe and Asia-Pacific Division, where he was responsible for overseeing the capital markets and banking activities of TD Securities in the region.
Ajai’s career with TD spans more than 28 years and has included roles in the Commercial Bank, Risk and the Corporate and Investment Bank. He was Chief Operating Officer for TD Securities and was also Head of Credit Risk for the Investment Bank and the Managing Director and Country Head, India, for TD.
He holds a Bachelor of Commerce with honours from Delhi University and a Master of Business Administration from Duke University. He has also attended the Advanced Risk Management Program at the Wharton School (2011).
Craig Broderick presently serves on the Board of Directors of Bank of Montreal, which he joined in 2018. He retired from Goldman Sachs in January 2018 after 32 years, having served most recently as the firm’s Chief Risk Officer from 2008-2018, responsible for the firm’s credit, market, operational, model and independent liquidity risk, as well as insurance.
He was a member of GS’s Management Committee and chair or co-chair of its most senior risk committees. He remains affiliated with GS as a Senior Director. He also serves as a Director of RMG Group, and as a senior advisor to the Stone Point private equity firm, and to the Credit Benchmark alternative credit risk data solutions business. Prior to joining Goldman Sachs, Mr. Broderick worked at the Chase Manhattan Bank. Mr. Broderick holds a BA (Econ) from The College of William and Mary, in Virginia, and has been active with his alma mater including serving for eight years until 2017 as a Trustee, and as chair of its Investment Committee. He is active in a variety of non-profit organizations.
Ms. Collins is President of Cambium LLC, a business and financial advisory firm since 2007. In 1997, she co-founded Svoboda, Collins LLC, a private equity firm, where she served as Managing Director from 1998 to 2006; she is now a member of the firm’s Advisory Board. From 1992 to 1997, she was a principal in the Corporate Finance Department at William Blair & Company, LLC, where she focused on specialty retail, direct-to-consumer and distribution businesses.
Ms. Collins is a member of the boards of Health Care Service Corporation, Ulta Beauty, Inc., Canadian Imperial Bank of Commerce, CIBC Bancorp US, Inc. and Strategic Marketing, Inc. She previously served on several other public and private company boards.
Ms. Collins is a member of the boards and executive committees of the Commercial Club of Chicago and the Economic Club of Chicago. Professional affiliations include The Chicago Network, National Association of Corporate Directors, Black Corporate Directors and Global Risk Institute. She also serves on several non-profit boards, including Chicago Public Library Foundation, National Louis University and the Museum of Science and Industry.
Julie Dickson is currently a director of the Canadian Public Accountability Board, Canada’s audit firm regulator, and the Dubai Financial Services Board. From 2014 until 2017 she was a member of the European Central Bank’s Single Supervisory Mechanism, which supervises Europe’s largest banks.
Between 2007-2014, Julie was Superintendent of Financial Institutions, having joined OSFI in 2000. Prior to that Julie held various positions at Finance Canada over 15 years, focusing on financial institution policy.
Julie has represented Canada on the Basel Committee for Banking Supervision and the Financial Stability Board (FSB), and also chaired the FSB’s Supervisory Intensity and Effectiveness Committee. She has also been on the Boards of the Canada Deposit Insurance Corporation and the Toronto Leadership Centre. Julie is a recipient and member of the Order of Canada, having been recognized for her work related to financial supervision and regulation in Canada and globally
Dwight Duncan serves as a Senior Strategic Advisor at McMillan LLP, one of Canada’s largest and most respected full service law firms. At McMillan, Mr. Duncan is, or has been engaged, by some of Canada’s largest and most influential pension funds, private equity firms, insurers and gaming companies.
Mr. Duncan currently serves on the Board of Travelers Insurance Canada, The Dominion General Insurance Company, Crown Crest Trust, The Global Risk Institute, the MS Society of Canada Scientific Research Foundation, the Management Advisory Board of the Odette School of Business at the University of Windsor, and is Chair of the Board of the Windsor Detroit Bridge Authority.
Prior to joining McMillan, Mr. Duncan had a distinguished career in public service that spanned close to 25 years. During his time as a Member of the Ontario Legislature he served as Deputy Premier, Minister of Finance, Chair of the Management Board of Cabinet, Chair of Cabinet, Government House Leader, Minister of Energy, Minister of Revenue, Minister of Government Services and Opposition House Leader. Mr. Duncan delivered six budgets and authored historic reforms to Ontario’s tax, pension, insurance, and energy regimes. He played a leadership role in formulating the Province’s response to the economic recession of 2008.
As Chief Risk Officer, Graeme oversees the strategic management of risk on an enterprise-wide basis. He is a member of Group Executive, which sets the overall strategic direction of RBC. He was appointed Chief Risk Officer in 2018.As Chief Risk Officer, Graeme oversees the strategic management of risk on an enterprise-wide basis. He is a member of Group Executive, which sets the overall strategic direction of RBC. He was appointed Chief Risk Officer in 2018.
Graeme joined RBC in 1997 as an analyst in Group Risk Management, focusing on foreign exchange products. In 2001, he took on the role of Vice President for GRM’s Portfolio Management team focused on loan portfolio risk analysis, economic capital and policy. Graeme moved to New York in 2004 to become Head of Market Risk for the Capital Markets trading businesses in the U.S. In 2011, Graeme moved to London to take on the role as Chief Risk Officer for Europe & Asia.
Most recently, Graeme was EVP, Retail & Commercial Credit Risk, where he led a number of teams that provide the primary risk management support to RBC’s Insurance, Wealth Management and Personal and Commercial Banking (P&CB) businesses.
Graeme is a qualified Chartered Financial Analyst and has a Masters in Mathematics from the University of Waterloo.
Graeme joined RBC in 1997 as an analyst in Group Risk Management, focusing on foreign exchange products. In 2001, he took on the role of Vice President for GRM’s Portfolio Management team focused on loan portfolio risk analysis, economic capital and policy. Graeme moved to New York in 2004 to become Head of Market Risk for the Capital Markets trading businesses in the U.S. In 2011, Graeme moved to London to take on the role as Chief Risk Officer for Europe & Asia.
Most recently, Graeme was EVP, Retail & Commercial Credit Risk, where he led a number of teams that provide the primary risk management support to RBC’s Insurance, Wealth Management and Personal and Commercial Banking (P&CB) businesses.
Graeme is a qualified Chartered Financial Analyst and has a Masters in Mathematics from the University of Waterloo.
Between 2012 and 2022 Jamey held senior roles at the Office of the Superintendent of Financial Institutions (OSFI). His last role was as Vice Superintendent. In this role, Jamey supervised two new Sectors. The first is the Policy Innovation and Stakeholder Affairs Sector, which leads OSFI’s macro and micro-policy responses to the risk environment. It also manages approvals, compliance, and legislative interpretations, and leads OSFI communications, including a coordinated, strategic approach to stakeholder engagement. The second sector is the Strategy, Risk, and Governance Sector.
Previously, he was the Assistant Superintendent of the Deposit-Taking Supervision Sector, where he was responsible for the supervision of some 150 federally regulated deposit-taking institutions.
Prior to joining OSFI Jamey had a banking career of over twenty-five years. He held senior leadership roles, primarily focused on capital markets and investment banking, in both Toronto and London, England.
Lynn Oldfield serves as Advisor and Non-Executive Director of AIG Insurance Company of Canada (AIG Canada). Lynn’s board participation includes appointments with the Global Risk Institute, where she chairs the HR Membership and Compensation Committee and the Arthritis Society of Canada. Her previous board commitments include PACICC, GCIA, Insurance Institute of Canada and the Risk and Audit Committee of Wilfrid Laurier University.
Prior to her retirement, Lynn held the position of President and Chief Executive Officer of AIG Canada from 2008 -2023. She joined AIG Canada in 1991 as a professional liability underwriting manager and held various leadership roles within financial lines, distribution, M&A practice, and risk finance.
Craig Pinnock is the Chief Financial Officer of the Northbridge Group and the Chief Agent for Tokio Marine & Nichido Fire Insurance Co. Ltd. (Canadian Branch). He was appointed to his CFO role in March of 2008 and to the Chief Agent role in October 2013.
Before joining Northbridge, Craig served in progressively senior finance roles within the Liberty Mutual Group over a 10-year period. During his time at Liberty, he served as Senior Vice President and Chief Financial Officer of Liberty Mutual Group’s Canadian Branches and as Global Head of Reinsurance Accounting and Administration for Liberty International Underwriters (Liberty’s specialty lines business unit). Prior to these positions, Craig served as Senior Vice President and Chief Financial Officer of Liberty International’s U.S. operations in New York. Earlier in his career, Craig spent 11 years with Ernst & Young in senior Audit, Tax, Systems Assurance and People & Culture related roles.
Craig is a Chartered Professional Accountant and holds a Commerce and Economics degree from The University of Toronto and over his career served as the Chair of the Insurance Bureau of Canada’s (“IBC”) Finance Standing Committed, served on many IBC committees and initiatives since 2013, participated as a speaker on many industry conferences and served as Chairman of the Finance Committee & Treasurer then President of the Canadian Mental Health Association (Metro) 1998 to 2001.
The Honourable Lisa Raitt joined CIBC Capital Markets in January 2020, having previously worked in both the public and private sectors. Ms. Raitt’s current focus is on senior client coverage and business development with clients in the energy, infrastructure and industrial sectors, which align closely with her deep expertise.
Prior to her current role, Ms. Raitt was the President and CEO of the Toronto Port Authority. She was elected into the House of Commons in 2008, where she went on to hold three senior portfolios serving as Minister of Natural Resources, Minister of Labour, and Minister of Transport. Most recently, Ms. Raitt was the Deputy Leader of the Official
Opposition and the Conservative Party of Canada.
Ms. Raitt holds a Bachelor of Science degree from St. Francis Xavier University and a master’s degree in Chemistry from the University of Guelph. She possesses an LL.B from Osgoode Hall Law School and was called to the Ontario bar in 1998. In 2020 Ms. Raitt was named a Woodrow Wilson Center Global Fellow of the Canada Institute.
As Group Head, Technology & Operations at Scotiabank, Michael has responsibility for the advancement of Scotiabank’s overall technology and global operations strategy while planning jointly the digital strategy. His mandate includes overall responsibility for Information Technology & Solutions (IT&S) and Global Operations.
Before joining Scotiabank in 2014 as Senior Vice President & Head, Risk Management Information Technology, Michael held senior positions in IT, including President and Chief Operating Officer at Algorithmics and Vice President, Risk Analytics at IBM. Most recently, he was Chief Technology Officer and prior to that appointment, Executive Vice President and Co-Head of Information Technology, Enterprise Technology. He was also instrumental in building Scotiabank’s initial digital blueprint and launching the Digital Factory.
Michael holds a Master of Science in Social and Economic Sciences in Commerce, a Master of Business Administration in Finance and a Doctorate of Philosophy in Economics. He currently serves on the Board of Directors of the Fields Institute for Research in Mathematical Sciences and on the Advisory Board of the Creative Destruction Lab through the University of Toronto’s Rotman School of Management.
Michael is married and has three children.