The Global Risk Institute Board includes representatives from GRI member companies and other stakeholders in the financial sector. 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.
William (Bill) Bonnell currently serves as a Strategic Advisor to the CEO of National Bank of Canada. Prior to this role, he was the bank’s Chief Risk Officer from 2012 until 2024, overseeing the management of financial and non-financial risks across the bank.
Since joining National Bank in 2001, Bill has held successive leadership positions in credit risk management, proprietary trading, and market risk management. Before joining the bank, he worked in Toronto, London, and Dublin in a variety of risk management, capital markets, and management roles within the banking industry.
Throughout his career, Bill has been actively engaged in various industry, academic, and non-profit boards. He has served as a member and Chair of the boards of both the International Financial Risk Institute (Geneva) and the Risk Management Association (Philadelphia). He has also served on the board of the Montreal Children’s Hospital Foundation and the Advisory Board of Rotman’s Master of Financial Risk Management program.
Bill holds an MBA from the Schulich School of Business, a Bachelor’s Degree from Bishop’s University, and has completed studies at EM Lyon Business School. He is a Chartered Financial Analyst (CFA), and holds the Financial Risk Manager (FRM) designation from the Global Association of Risk Professionals.
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 was 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 is the Strategy, Risk, and Governance sector.
Previously, Jamey 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.
Sonia Baxendale is a highly respected executive who has more than 20 years’ experience in senior leadership roles in the financial services industry. She 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, Sonia leads the premier risk management organization for the financial services industry globally.
In this role, Sonia brings together leaders from industry, academia and government to focus on emerging risk management issues. The global economic, political and geopolitical environment is frought with uncertainty – geopolitical tensions, climate change, the proliferation of AI, systemic racism, social and economic disparities. Under Sonia’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 to help ensure the future stability of the Canadian financial system.In addition to her role with GRI, Sonia 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, Sonia was President of CIBC Retail Markets where she led Retail and Wealth Management businesses. She 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, Sonia held various positions with American Express Canada and Saatchi & Saatchi.
Sonia 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 was appointed Executive Vice-President and Chief Risk Officer and a member of the Executive Management Committee for Desjardins Group in March 2023. As Chief Risk Officer for the Group, Antoine is responsible for group-wide integrated risk management, including strategic, operational and financial risks (credit, market, insurance).
Antoine joined Desjardins in 2010 and held leadership positions in both 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 an MSG in Finance from Université Paris IX Dauphine
Ajai Bambawale was appointed Chief Risk Officer (CRO), TD Bank Group. in February 2018. In this role, he is accountable for oversight of TD’s global Risk Management, AML and Compliance operations. Ajai’s career with TD spans more than 30 years and his included roles in the Commercial Bank, Risk and the Corporate and Investment Bank.
Prior to his appointment as TD’s CRO, Ajai was CRO for TD Bank, America’s Most Convenient Bank. He has also served as 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 holds a Bachelor of Commerce with honors 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).
Claude Bergeron is a corporate advisor and director, after having held senior management positions at the Caisse de dépôt et placement du Québec (CDPQ) for over 30 years, an institution recognized worldwide among the major investor groups in diversified assets as well as in sustainable investment for retirement and insurance funds. During his career at CDPQ, he worked as Senior Vice-President and Chief Risk Officer from 2009 to 2023, in addition to having held the positions of Senior Vice-President, Depositor Relations from 2018 to 2023.
Claude sits on several boards of directors and governance committees. He chairs the Board of Directors of MCAP, a company with more than $150 billion in mortgage financing under management. He is a member of the Board of Directors and Audit and Risk Committee of Fonds immobilier de solidarité FTQ, and the Risk Management Committee of the Fonds de solidarité FTQ. He is also a member of the Advisory Committee of an investment company.
Previously at CDPQ, Claude held the positions of Vice-President, Legal Affairs and then Senior Vice-President, Legal Affairs and Secretariat, between 1993 and 2010. He was awarded the ZSA Business Excellence Award in 2007 and the National Post ZSA Award for Best Chief Legal Officer in Canada in 2009 for his role in the restructuring of the Canadian commercial paper market.
Having begun his career in tax law at the Quebec Ministry of Revenue, Claude is recognized for his leadership and his ability to develop and lead the implementation of successful business strategies. These qualities have led him to restructure teams and sectors of activity, as well as to participate in CDPQ’s most significant investments, both in the stock and bond markets, as well as in private equity, infrastructure and real estate.
Claude chaired the Board of Directors of Otéra Capital from 2019 to May 2024, and that of CDPQ Infra from 2017 to 2021. He completed an international MBA specializing in financial services and insurance in 2009, from the Vlerick Leuven Gent Management School in Belgium and the University of St. Gallen in Switzerland. He graduated in Administrative Sciences from HEC Montréal in 1991, obtained a law degree from the University of Montreal in 1978 and has been a member of the Quebec Bar since 1979.
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.
Craig also serves as a Director of McDermott International and Circle Internet, and as a senior advisor to SEDA Experts, and the Credit Benchmark alternative credit risk data solutions business. Prior to joining Goldman Sachs, Craig worked at the Chase Manhattan Bank. He holds a BA (Econ) from The College of William and Mary in Virginia. He is active in a variety of non-profit organizations.
Michelle Collins is a member of the boards of CIBC and CIBC U.S., Ryan Specialty Holdings, Inc., and Ulta Beauty, Inc. She previously served on several other public and private company boards. She also serves on several non-profit boards, including National Louis University, where she serves as Chair, the Griffin Museum of Science and Industry, and Navy Pier, Inc. She is a member of the boards of the Economic Club of Chicago and The Chicago Club. Professional affiliations include the Global Risk Institute (board member), Executive Women on Boards and The Chicago Network.
Michelle is President of Cambium LLC, a consulting firm. In 1997, she co-founded Svoboda Capital Partners LLC, a private equity firm, where she served as Managing Director from 1998 to 2006, and 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. Michelle is a graduate of University of Chicago Laboratory Schools, Yale University and Harvard Graduate School of Business.
Dwight Duncan serves as Senior Advisor for Canadian Investor Relations for the New York based law firm Bernstein, Litowitz, Berger and Grossman LLP (BLB&G). He sits on the Board of Directors of Global Risk Institute and OTT Payments, is a Senior Fellow at the C.D. Howe Institute, a Governor of the MS Society of Canada, an advisory board member of Elevate Finance, and an Executive-in-Residence at the Odette School of Business, University of Windsor.
Prior to joining BLB&G, Dwight served as a Strategic Business Advisor with McMillan LLP and McMillan Vantage for eleven years, where he provided business and public policy advice to a variety of clients across Canada.
Dwight is a past member of the boards of the Churchill Society for the Advancement of Parliamentary Democracy, and the MS Society’s Scientific Research Foundation. He also served as Board Chair of the Windsor Detroit Bridge Authority; the Canadian Crown Corporation tasked with overseeing the construction of the new Gordie Howe International Bridge and the ports of entry on both sides of the border. Finally, he has served on a number of corporate boards including Travelers Canada, where he served as Chair of the Audit Committee.
Dwight also had a distinguished 24-year career in the Ontario Legislature. During his time as a Member of Provincial Parliament, he served in a variety of capacities in government and opposition. These included Deputy Premier, Minister of Finance, Chair of Cabinet, Chair of Management Board of Cabinet, Minister of Energy and Opposition House Leader. He delivered six budgets, authoring major reforms to Ontario’s energy, tax, pension, infrastructure and insurance statutes. He played a pivotal role in formulating Ontario’s response to the recession of 2008-2009.
While serving in Cabinet, Dwight had responsibility for the Liquor Control Board of Ontario (LCBO), the Ontario Lottery and Gaming Corporation (OLG), Ontario Power Generation (OPG), and Hydro One. In addition, he had statutory accountability to the Legislature for oversight of the Ontario Energy Board (OEB), the Ontario Securities Commission, and the Financial Services Commission of Ontario (FSCO).
Jay-Ann Gilfoy is the President & CEO of Meridian Credit Union, the largest credit union in Ontario, and second largest in Canada. She joined the company in January 2022, with a mandate to leverage Meridian’s unique value proposition to transform its business, achieve its winning aspirations, and secure its future as an inclusive, transparent and people-focused financial partner.
In collaboration with the Board and senior management, Jay-Ann is responsible for articulating Meridian’s strategy, delivering on its purpose of helping members and customers achieve a better life, creating opportunities within the communities it serves, and generating sustainable business growth.
Jay-Ann’s leadership expertise in business transformation, environmental and social impact has been cultivated over more than 20 years as a senior executive in a broad range of roles and experiences in the private and public sector, and co-operative financial services.
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.
Prior to being appointed CRO, 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. He is a qualified Chartered Financial Analyst and has a Masters in Mathematics from the University of Waterloo.
Lynn Oldfield serves as Advisor and Non-Executive Director of AIG Insurance Company of Canada (AIG Canada). Lynn’s board participation includes GRI, 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 Chief Financial Officer of the Northbridge Group and 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. Over his career he has served as 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) from 1998 to 2001.
The Honourable Lisa Raitt joined CIBC Capital Markets in January 2020, having previously worked in both the public and private sectors. Her current focus is on senior client coverage and business development with clients in the energy, infrastructure and industrial sectors, which aligns closely with her deep expertise.
Prior to her current role, Lisa 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, she was Deputy Leader of the Official Opposition and the Conservative Party of Canada.
Lisa 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 she was named a Woodrow Wilson Center Global Fellow of the Canada Institute.
Halina von dem Hagen is the global Chief Risk Officer at Manulife, overseeing the management of risk on an enterprise-wide basis. She is a member of the Executive Leadership Team which sets the overall strategic direction for the company and oversees its execution. She was appointed to her current role in 2023.
Prior to her current appointment, Halina was Manulife’s Global Treasurer and Head of Capital Management, overseeing the capital position of the company’s global operations. She also developed and executed global funding programs and managed relationships with rating agencies, banks, and fixed income investors. She joined Manulife in 2007 from Royal Bank of Canada, where she spent 12 years in senior roles in the areas of treasury and risk management.
Halina holds a Ph.D. in international and monetary economics from the University of Toronto and is an alumna of Massey College. She received the WXN Canada’s Top 100 Most Powerful Women award in 2017 in the Corporate Executives category. Her global expertise on capital matters was recognized through her selection in 2019 to the Insurance Policy Advisory Committee of the U.S. Federal Reserve Board, where she served for two consecutive terms until 2023. In 2024, Halina was selected the CRO (Americas) of the Year by InsuranceERM.
Michael Zerbs served as Group Head, Technology & Operations at Scotiabank, with responsibility for the advancement of Scotiabank’s overall technology and global operations strategy while planning jointly the digital strategy. His mandate included 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.