Claude Bergeron was appointed Executive Vice-President and Chief Risk Officer on November 1, 2010. In this capacity, Mr. Bergeron oversees the teams responsible for monitoring, measuring and analyzing risk at the Caisse. Mr. Bergeron has more than 20 years of experience with the Caisse where he has played a lead role in a number of major domestic and international files and investments. Over the course of his career, he has acquired a solid knowledge of both the public and the private sectors. He joined the Caisse in 1988 as Senior Legal Adviser. He was subsequently assigned various functions and mandates for the Caisse’s investment sectors, subsidiaries and general services. He was promoted to Vice-President in 1993, Senior Vice-President, Legal Affairs, and Assistant Secretary in 2005, and Executive Vice-President, Legal Affairs and Secretariat, in June 2009.

Between 2007 and 2009, Mr. Bergeron was instrumental in developing the plan to restructure third-party asset-backed commercial paper (ABCP). He became Acting Chief Risk Officer in August 2009. Under his leadership, the Caisse completed the implementation of an accelerated program to strengthen its risk management practices.

Mr. Bergeron is a member of the Québec Bar and the Canadian Bar Association. He holds a law degree from the Université de Montréal and a degree in business administration from HEC Montréal. He also studied accounting at the Université du Québec à Montréal. In 2009, he completed an international MBA program, specializing in financial services and insurance, co-administered by the Vlerick Leuven Gent Management School, in Belgium, and the University of St. Gallen, in Switzerland.

In the spring of 2009, Mr. Bergeron was presented the Canadian General Counsel of the Year Award. In 2007, he received the Commerce-ZSA Québec Lifetime Achievement Award. He is a former member of several corporate Boards of Directors, such as those of Noverco and Quebecor Media.

Show less

Dr Peter Carr is Executive Director of the Math Finance program at NYU's Courant Institute, the co-Treasurer of the Bachelier Finance Society, and a trustee for Worldquant University and the Museum of Mathematics in New York. He has 20 years of experience in the financial industry, most recently as a Managing Director at Morgan Stanley for 6 years. Prior to joining the financial industry, Dr. Carr was a finance professor for 8 years at Cornell University, after obtaining his PhD from UCLA in 1989.

He has over 85 publications in academic and industry-oriented journals and serves as an associate editor for 8 journals related to mathematical finance. He was selected as Quant of the Year by Risk Magazine in 2003 and Financial Engineer of the Year by IAFE/Sungard in 2010.  From 2010 to 2014, Dr. Carr was included in Institutional Investor's Tech 50, an annual listing of the 50 most influential people in financial technology.

Show less

Dr. Michel Crouhy is Head of Research and Development at NATIXIS Corporate and Investment Bank, a subsidiary of Groupe BPCE. He has the bankwide oversight on all quantitative research and the development of new products and applications supporting the trading and structuring businesses. He is also the founder and president of the NATIXIS Foundation for Quantitative Research, which promotes and supports academic research and world-class events in the area of mathematical finance.

Formerly, Dr. Crouhy was senior vice president, business analytic solutions, in the Risk Management Division, at the Canadian Imperial Bank of Commerce. He was responsible for the development of risk measurement methodologies and models for market, credit (corporate and retail), operational risk and economic capital attribution, as well as customer behavior analytics. His responsibilities also included the approval of all pricing, balance-sheet, risk and capital-related models. He was also in charge of the RAROC (economic capital attribution) and operational risk groups.

Prior to his career in the industry, Dr. Crouhy was a professor of finance at the HEC School of Management in Paris, where he was also the founder and director of the M.S. HEC in international finance, the first MS program in financial engineering. He has been a visiting professor at the Wharton School of the University of Pennsylvania and at the University of California, Los Angeles.

Dr. Crouhy is a founding member of PRMIA (the Professional Risk Managers’ International Association) and a member of the PRMIA Blue Ribbon Panel, and a member of the Credit Risk Committee of the International Association of Financial Engineers (IAFE). He is the author and co-author of several books, the most recent ones being Risk Management (McGraw-Hill - 2001), The Essentials of Risk Management (second edition, McGraw-Hill - 2014); and he has published extensively in academic journals in the areas of banking, options, risk management and financial markets. He is also associate editor of several academic journals.

Dr. Crouhy holds a PhD from the Wharton School of the University of Pennsylvania and has a Doctoris Honoris Causa from the University of Montreal.

Show less

Darrell Duffie is the Dean Witter Distinguished Professor of Finance at Stanford University's Graduate School of Business, and Professor (by courtesy) in the Department of Economics, Stanford University. He is a Fellow and member of the Council of the Econometric Society, a Research Fellow of the National Bureau of Economic Research, a Fellow of the American Academy of Arts and Sciences, and a member of the board of directors of Moody’s Corporation. Mr. Duffie was the 2009 president of the American Finance Association, and in 2014 chaired the Financial Stability Board’s Market Participants Group on Reference Rate Reform. His recent books include How Big Banks Fail (Princeton University Press, 2010), Measuring Corporate Default Risk (Oxford University Press, 2011), and Dark Markets (Princeton University Press, 2012).

Show less

Walter Engert is the Senior Director of Research at the Office of the Superintendent of Financial Institutions (OSFI), Canada. He is responsible for the analysis of system-wide risks and vulnerabilities, and advice on a wide range of financial sector policy issues including dealing with systemically important financial institutions, contingent capital and bail-in. He has led development of OSFI’s macroeconomic stress testing program, and advised on related issues, including capital adequacy. He is a former member of the Basel Committee "Macroprudential Supervision Group" (developed the G-SIB framework), and the "Macro Variables Task Force" (developed the countercyclical capital buffer). Prior to joining OSFI in 2009, Mr. Engert worked at the Bank of Canada for almost 25 years, where he held increasingly senior positions, with responsibility for monetary policy research, financial sector policy advice, and oversight of payments, clearing and settlement systems. He played a leading role in the development of the Bank of Canada's lender-of-last resort policy, and in the Bank of Canada’s work to provide liquidity to the financial system during the 2007-09 financial crisis. Mr. Engert was also a member of the global Committee on Payment and Settlement Systems. As well, he spent over three years as an advisor at the Executive Board of Directors of the International Monetary Fund. Mr. Engert has a B.Comm. (Finance) and an M.A. (Economics), from McMaster University.

Show less

Paul Glasserman is the Jack R. Anderson Professor of Business at Columbia Business School, where he also heads the Risk Management Initiative within the Program for Financial Studies. In 2011-2012, he was on leave from Columbia, working full-time at the Office of Financial Research in the U.S. Treasury Department, where he currently serves as a part-time consultant. His work with the OFR has included research on stress testing, financial networks, systemic importance indicators, contingent capital, and counterparty risk. He has previously held visiting positions at the Federal Reserve Bank of New York, Princeton University, and NYU.

Prof. Glasserman is the author of the book Monte Carlo Methods in Financial Engineering, which received the INFORMS Lanchester Prize and the I-Sim Outstanding Publication Award. His other research recognitions include the Erlang Prize in applied probability, an IMS Medallion from the Institute of Mathematical Statistics, and Risk magazine’s Quant of the Year Award.

Prof. Glasserman serves on the editorial boards of several academic journals and on the council of the Bachelier Finance Society.  He previously served as an independent director of two mutual fund complexes, and currently serves as a member of the risk committee of a swaps clearinghouse and on the board of a rating agency. He served as senior vice dean of Columbia Business School in 2004-2008 and was interim director of its Sanford C. Bernstein Center for Leadership and Ethics in 2005-2007. He earned an A.B. in mathematics from Princeton University and a Ph.D. in applied mathematics from Harvard University.

Show less

Toni Gravelle is the Chief of the Financial Markets Department (FMD), at the Bank of Canada. In this capacity, he is responsible for policy formulation and execution of the Bank’s financial market activities as they relate to monetary policy implementation and financial system liquidity.

Mr. Gravelle also oversees domestic debt and foreign reserve operations on behalf of the Government of Canada. These activities—along with a range of research, analysis and policy advice related to domestic and international financial markets—contribute to the Bank’s monetary policy mandate and its role in the promotion of financial system stability and efficiency.

Mr. Gravelle returned to the Bank at the time of his appointment following a secondment to the Department of Finance where he was General Director, Financial Sector Policy Branch. He first joined the Bank in 1996 as an analyst and went on to hold various positions within FMD, including Assistant Director. In 2008, he was appointed Deputy Chief of the Financial Stability Department, a position he held until he was seconded to Finance in 2013.

Mr. Gravelle brings to his current role deep expertise in financial stability and markets, as well as a record of contributions to international financial reform. In addition to his extensive experience in financial sector policy and research at the Bank, he was an economist at the International Monetary Fund (IMF) from 2002 to 2005, participating in the financial system stability assessments of France and Senegal and contributing to the IMF’s semi-annual Global Financial Stability Report.

Mr. Gravelle was born in North Bay, Ontario, and holds a Ph.D. in Economics from Western University.

Show less

Kathryn Hyland joined Swiss Reassurance Company Ltd in 2008 as Senior Vice President, Risk Management. In this capacity, she acts as risk leader for Life & Health Risk Management for the Americas region, working to closely align with the business organization in order to fully appreciate the risk landscape, and to co-ordinate closely with her risk management associates responsible for other lines of business and regions. She serves as Chief Risk Officer for Swiss Re Life & Health America, Swiss Re's U.S. Life & Health reinsurer. She is also CRO for Swiss Re's Canadian operations, including both the Life & Health and Property & Casualty business written in Canada and the Caribbean through the Canadian branch of Swiss Re and also the direct Property & Casualty business written through the Canadian branch of Westport Insurance Corporation.

Prior to joining Swiss Re, Kathryn Hyland was engaged in direct insurance and reinsurance management in Canada, Bermuda and the U.S., and she has provided insurance and investment consulting services to a variety of corporate clients.

Kathryn Hyland holds a Bachelor of Mathematics in Actuarial Science and a Master of Mathematics in Applied Statistic, both from the University of Waterloo. She is a Fellow of the Society of Actuaries and Canadian Institute of Actuaries, and a Member of the American Academy of Actuaries and a Certified Enterprise Risk Analyst. She has also earned the right to use the Chartered Financial Analyst designation.

Show less

Dr. Malcolm Knight is currently a Distinguished Fellow at The Centre for International Governance Innovation (CIGI). As part of CIGI’s Global Economy Team, Dr. Knight’s research will focus on the governance related aspects of international financial regulation, standard-setting and international financial institutions. Dr. Knight was formerly Vice Chairman of Deutsche Bank Global Group and served as an Advisor until his retirement from the bank in 2014. He was responsible for developing a globally-coherent strategy and coordinating DB group-wide issues on regulation, supervision and financial stability. Concurrently, Dr. Knight is Visiting Professor in Finance at the London School of Economics and Political Science and a member of the board of directors of Swiss Re Group AG.

Dr. Knight served as General Manager and Chief Executive Officer of the Bank for International Settlements during 2003-2008. From 1999 to 2003 he was Senior Deputy Governor of the Bank of Canada, where he was the Bank’s chief operating officer and a member of the Board of Directors.

From 1975 to 1999 Dr. Knight was with the International Monetary Fund, where he held senior positions in both research and operations. While at the IMF, Dr. Knight was also an adjunct professor at the Johns Hopkins University School of Advanced International Studies. From 1971 to 1975 he taught at the University of Toronto and the London School of Economics and Political Science.

Dr. Knight holds an Honours BA in Political Science and Economics from the University of Toronto, and MSc (Econ) and PhD degrees in economics from the London School of Economics and Political Science. He has published widely in the fields of macroeconomics, international finance and banking.

Dr. Knight served as a Trustee of the International Accounting Standards Committee Foundation over 2003-07, and was a member of the Financial Stability Forum (now the Financial Stability Board) over 2003-08. He is a Trustee of the Per Jacobsson Foundation and Chairman of the Board of Patrons of the European Association for Banking and Financial History. He was inducted into the Honorary Senate of the Lindau Nobel Prizewinners Foundation in 2006 and the Johns Hopkins University Society of Scholars in 2007. In 2006 he was awarded an Honorary Doctorate by Trinity College, University of Toronto.

Dr. Knight, a Canadian, is married with three grown daughters and two granddaughters.

Show less

Over the course of her 22 year career Michelle Osterman has held a variety of roles in the investment, insurance and pension industries.  She was the general manager of Manulife’s $35B annuity business, built from the ground up Sun Life Global Investments’ asset allocation team ultimately managing $6B AUA, and managed a $10B ALM portfolio for Sun Life Investments.  She has experience in front, middle and back office roles ranging from business development to risk management and actuarial pricing for both Pension and Retail Wealth businesses.  Her proudest accomplishments include leading a business development team charged with a $2B sales target spanning 5 different distribution channels, and a product development team responsible for reinventing Canada’s leading segregated fund line up.

She currently sits on the Board of Directors of the Pension Investment Association of Canada (PIAC) and Junior Achievement BC.  She has a Bachelor of Science degree in Economics and holds a Chartered Financial Analyst designation (2001). She and her family reside in Victoria BC where she is an active volunteer for her local chapter of Junior Achievement.

Show less

Dan Rosen is currently a Visiting Researcher and the first Director of the Centre for Financial Industries at the Fields Institute for Research in Mathematical Sciences, as well as an Adjunct Professor of Mathematical Finance at the University of Toronto. Dr. Rosen was the co-founder and Chief Executive Officer of R2 Financial Technologies. A successful Risk and Portfolio Management Technology firm serving multi-asset hedge funds, asset managers, banks and regulators across the world, R2 was originally incubated at the Fields Institute, and then acquired by S&P Capital IQ in 2012, where Dr. Rosen served as the Managing Director for Risk and Analytics until 2015.

In addition to working with numerous financial institutions around the world, he lectures extensively on financial engineering, portfolio management, enterprise risk and capital management, credit risk and market risk, valuation of derivatives and structured finance. He has authored numerous risk management and financial engineering publications, including two books, and several patents, and serves in the editorial board of several industrial and academic journals, including Quantitative Finance, Journal of Risk Management in Financial Institutions, Journal of Credit Risk, and Esotocastica. Dr. Rosen was inducted in 2010 a Fellow of the Fields Institute for his “outstanding contributions to the Fields Institute, its programs, and to the Canadian mathematical community”. He currently serves in the Board of Directors of the Fields Institute, as well as in the Advisory Boards of Canada’s Institute Innovation Platform (IIP), the International Association of Quantitative Finance (IAQF), and the Center for Advanced Financial Studies at the University of Waterloo. He is one of the founders of the Professional Risk Management International Association (PRMIA), where he served as regional director in Toronto, and of RiskLab, an international network of research centers in Financial Engineering and Risk Management, initiated at the University of Toronto. He was also a member of the Fitch Academic Advisory Board and the Oliver Wyman Institute.

Prior to starting R2 in 2006, Dr. Rosen had a successful career over a decade at Algorithmics Inc., where he started in 1995 as a Financial Engineer, and lead the company’s financial engineering and research, strategy, products and marketing. As part of the senior management team, he was responsible for developing the strategic direction, as well as new products, business initiatives and alliances. He also led the research, design, positioning and application to industrial settings of analytical tools including: credit, market and operational risk; counterparty risk, economic and regulatory capital management; new insurance and asset management solutions; advanced simulation and portfolio optimization. He holds an M.A.Sc. and PhD. in Chemical Engineering from the University of Toronto, and was a Post-Doctoral fellow and Research Associate at the Centre for Management of Technology and Entrepreneurship (CMTE). His B.A.Sc. is in Chemical Engineering from the Universidad Autonoma Metropolitana, in Mexico City, where he was also later awarded in 2015 the recognition of Distinguished Alumni.

Show less

Barbara Zvan and her team provide liability and risk expertise focused on long‐term Total Fund investment strategy, risk management and the governance framework. Ms. Zvan and her team are also charged with ensuring the Plan is sustainable, and that the funding risk is aligned to the Board's Risk Appetite Statement.

Ms. Zvan joined Ontario Teachers' in 1995 as an assistant portfolio manager and has risen to positions of increasing authority. As Chief Risk & Strategy Officer, she leads the Strategy & Risk team in supporting the Plan Sponsors in plan design decisions and the Board in determining the appropriate benchmarks and risk appetite. Ms. Zvan and her team provide input and risk insights to the Investing teams and create an effective risk management framework to underpin it. In addition, Ms. Zvan drives the responsible investing and climate change risk management and strategy for the Fund and directs the Enterprise and Operational Risk Management approach for the organization.

Ms. Zvan is a Fellow of the Society of Actuaries and the Canadian Institute of Actuaries, and holds an M.Math from the University of Waterloo.

Ms. Zvan serves as Chair of the International Centre of Pension Management (ICPM). She also serves on the boards of Cadillac Fairview, Global Risk Institute and the Canadian Coalition for Good Governance.

She was honoured as one of Canada's 2008 Top 40 Under 40.

Show less