Global Risk Institute is a preeminent source of ideas on the management of emerging risks and trends for financial services organizations
25 November 2020 | Operational Resilience
There are a number of approaches under consideration and whether regulators ultimately respond by providing workable globally-compatible guidance is yet to be determined. Regardless, firms need to act now to better protect their clients, themselves and overall market integrity.
19 November 2020 | Sustainable Finance and Climate Risk
The paper discusses the need for a “green” as well as a “transition” taxonomy that will help transform Canada’s economy into a low carbon economy with net-zero GHG emissions by 2050.
18 November 2020 | Sustainable Finance and Climate Risk
This study examines trends in climate-related financial disclosure among 58 financial firms in Canada including banks, pensions, insurance, financial Crowns, and credit unions over three reporting cycles (2017, 2018, 2019). This study assesses progress toward alignment with the TCFD Recommendations, and by extension, provides some insight as to the state of climate risk governance and management among Canadian financial firms.
30 October 2020 | Technology Innovations
The race to develop and adopt global stablecoins (GSC)/central bank digital currencies (CBDC) has the potential to put the stewardship of the global financial system up for grabs.
15 October 2020 | National Pension Hub Publications
In this interim report on forced retirement risk and the link to investment portfolios, Minjoon Lee and his coauthors analyze the latest Canadian data and find that the correlation between stock returns and the chance of involuntary job separation is much stronger during the coronavirus crisis.
29 September 2020 | Pandemic Response
As Canada recovers in lopsided fashion from its historic economic contraction in the first half of 2020 (1H2020), the economic and social costs of the first-ever services-led recession are striking. The V-shaped recovery of equity and debt markets, and the surge in technology industries contrast starkly with the major income declines and job losses in much of the traditional economy. They make it essential to address the ongoing “Great Divide” among financial markets, technology sectors and most of the traditional economy.
25 September 2020 | National Pension Hub Publications
In this paper we adapt results from theoretical, stylized work on pension design, to explore a form of target benefit plan that allows for structured, transparent intergenerational risk sharing (IRS).
18 September 2020 | Macroeconomic Risk
The Bank of Canada (BoC) is in the process of a multi-year review in advance of the renewal of its monetary policy framework in 2021. Culminating in an inflation-control agreement with the Government of Canada every five years, the renewal process adds credibility to the Bank’s inflation objective and underpins its operational independence. This paper is a summary of the virtual workshop the BoC held on August 26th titled “Towards the 2021 Renewal of the Monetary Policy Framework.
25 August 2020 | Technology Innovations
This research paper reviews the components of open banking, including APIs and screen scraping. The author discusses the implications for traditional banks, FinTechs and Third Party Providers (TPPs) within data-sharing frameworks. The paper then reviews the implementations in the U.K. and Australia, and the potential implications for Canada’s financial system.
21 August 2020 | Technology Innovations
This research report explains the tools commonly used in Machine Learning, identifies some of the challenges machine learning poses for financial institutions and formulates key questions that senior management should ask with respect to machine learning applications.