Publications

Global Risk Institute is a preeminent source of ideas on the management of emerging risks and trends for financial services organizations

Risk Pulse

Risk Pulse is our monthly newsletter, keeping members informed on relevant news, content and events of interest to the financial sector.

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As a bonus, we also send out  Risk Focus, which features exclusive articles focused on examining specific industry issues and insights.

This months industry focus is INSURANCE.

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Research Report

Emerging Disruption: Buy Now Pay Later in Canada

This report examines the potential of BNPL from a Canadian perspective. We introduce the current state of BNPL in Canada and the potential evolution pattern in the future. In addition, various risks associated with the BNPL disruption are discussed to help financial sector leaders better assess opportunities in the market.

Research Report

Water Risk Modeling: A Framework and Guidance for the Financial Sector

Water Risk Modeling: A Framework and Guidance for the Financial Sector Thomas Walker, Ph.D., Concordia University Dieter Gramlich, Ph.D., DHBW Heidenheim Adele Dumont-Bergeron, Concordia University Download the Executive Summary - PDF Version Download the full paper - PDF Version

Research Report

FINANCIAL INNOVATION SERIES: Adversarial Machine Learning: Risks and Opportunities for Financial Institutions

FINANCIAL INNOVATION SERIES: Adversarial Machine Learning: Risks and Opportunities for Financial Institutions Alexey Rubtsov, PhD, Senior Research Associate, Global Risk Institute Download the full Report - PDF Version INTRODUCTION In a recent study, Microsoft found that 25 out of 28 firms surveyed did not have protections against the so-called  adversarial attacks on their machine learning... View Article

Article

Deep Hedging of Derivatives Using Reinforcement Learning

One of the areas in finance where machine learning is having an impact is the hedging of derivative portfolios. If there were no transaction costs, one strategy would be to zero out all the Greek letters (delta, gamma, vega, etc.). But in practice, a trader must follow a partial hedging strategy that reflects trade-offs between risk reduction and transaction costs.

Research Report

Treading Water: Impact of Catastrophic Flooding on Canada’s Housing Market

Treading Water: Impact of Catastrophic Flooding on Canada’s Housing Market Kathryn Bakos, Director, Climate Finance and Science, Intact Centre on Climate Adaptation, University of Waterloo Dr. Blair Feltmate, Head, Intact Centre on Climate Adaptation, University of Waterloo Chris Chopik, Climate Risk, Energy Efficiency and Real Estate Cheryl Evans, Director, Flood and Wildfire Resilience, Intact Centre... View Article

Academic Final Report

The Connection Between Population Structure and Returns on Infrastructure Investments

Infrastructure is an important asset class in any balanced portfolio. It provides many attractive features including inflation-adjusted cash flows and diversification. The infrastructure itself also provides benefits to the communities it services. The amount of value created will have a dependence on the demographics of the area it serves.

GRAFT Update on World Economic Forum’s 2022 Most Severe Risks

World Economic Forum’s 2022 Risk Report highlight’s global environmental concerns as top of mind, followed closely by Societal concerns metal health deterioration and Social cohesion erosion, and continuing Technological concerns failure of cyber security and in Canada a potential Debt Crises and Geoeconomic confrontations. 

Research Report

2021-2022 Risk Outlook Survey

This paper presents the results of the latest survey. Key findings on priority risk issues facing the Canadian financial system and its financial institutions are first discussed. It is followed by perceptions of our members on the global economic outlook. The report concludes with risk insights drawn from this year’s survey with which we aim to inspire our audience when thinking and planning forward.

Research Report

Financing The Energy Transition: The Outlook for Cleantech in Canada

This report helps financial sector leaders develop a foundational understanding of cleantech. Getting to know this sector is key to assessing the risks and opportunities in the energy transition.