Climate Risk Management –

Regulation, Implementation and Reporting

Test Event – Understanding the Practical Application of Hedge Accounting to Real-life Hedging Strategies.

September 19-20, 2022 – Toronto

CPE – 12.5 hours

This course will give participants a deep understanding of derivatives accounting and the application of hedge accounting for hedges of interest rate, inflation, FX and commodity risks. Learning is based on an intense use of real cases, applying IFRS 9 step-by-step. Complex topics such as the treatment of options are covered in detail. The treatment of the fair value option is compared to the application of hedge accounting.

Case studies incorporate real-life client discussions, and cover the decision-making, documentation requirements, hedge effectiveness assessment and the accounting entries of a hedging strategy during its life.

Register

Delegate Comments

“…provided a very good high level summary of the key impacts of IFRS to financial institutions.”

Associate Chief Accountant, Bank of Montreal

“Presentations were clear even though topics were complex.”

Chief Financial Officer, Société Générale

“Best conference I’ve ever attended.”

Senior Manager, Enterprise Hedge Accounting and Derivative Reporting, Royal Bank of Canada

“Suffice it to say that the conference delivered on my expectations…A lot has been taken away from this conference…$ well spent…”

V.P. Risk Management Advisory, New Brunswick Credit Union Stabilization Board

“Finally a course that communicates true technical knowledge”

Director, Operations Finance, NAV Canada

“This seminar was fantastic – very informative and has some extremely interesting and knowledgeable speakers.”

Manager, Corporate Accounting, Brascan Power

“Great balance between theory and practical application/issues. Perfect level of detail…”

Treasury Manager, CHC Helicopter Corporation

“Speakers were very knowledgeable, materials were current…examples and materials were relevant and well presented.”

Derivatives Accountant, Agrium Inc.

Climate Risk Management – Regulation, Implementation and Reporting

Program – November 29

9:00 a.m. – 9:05 a.m.
Opening Remarks from the Chair

TBD

9:05 a.m. – 10:00 a.m.
Road to Net-Zero for Insurers

TBC

  • What net-zero will look like for insurers – large and small (practical)
  • Leading practices around the world
  • What is happening in the Canadian market
  • What insurers can learn from other industries
  • Introducing Scope 3 climate risks for risk management
    • getting the entire value chain down the net zero path
    • data and projection challenges
    • PCAF update on calculating insured emissions

    IFRS 17 disclosure requirements in Q1 2023/YE 2023IFRS 17 BAU disclosure requirements

10:00 a.m. – 11:00 a.m.
IFRS 17 and KPI’s

Rozana Khalil, Senior Manager, Ernst & Young LLP

  • Overview of the Global KPIs Survey results
  • 2022 vs 2023 results
  • Emerging Canadian KPIs

11:00 a.m. – 11:15 a.m.
Morning Networking Break

11:15 a.m. – 12:30 p.m.
Model Risk Management and Model Governance

Karl Meissner-Roloff, Partner, Actuarial, Deloitte LLP

  • Understanding OSFI Guideline E-23 – scope and application
  • Applying E-23 in the insurance industry
  • Regulatory framework for insurance liability model governance – OSFI guidelines, actuarial standards of practice
  • Model risk management key issues including:
    • Different model purposes (e.g. IFRS 17, LICAT/MCT, sensitivities)
    • Issues arising from proprietary modelling platforms and “black box” models
    • Documentation of modeling decisions and approach (data, methodology, assumptions)

12:30 p.m. – 1:30 p.m.
Luncheon

1:30 p.m. – 2:30 p.m.
Operational Resilience and Operational Risk – Applying Guideline E-21

Mark Barboza, Director, Operational Resilience, PricewaterhouseCoopers LLP

  • Defining operational resilience – Canadian view
  • Operational resilience expectations emerging globally
  • What leading insurers internationally are doing to become resilient
  • Determining what Canadian firms can be doing today
  • Resilience challenges experienced by Canadian firms
  • Demonstrating effective operational resiliency – new E-21 draft guideline
  • Oversight and accountability

2:30 p.m. – 3:30 p.m.
Cybersecurity and Technology Risk Management for Insurers

Prashant Tripathi, Senior Manager, Cyber Security, KPMG LLP

  • Cybersecurity reporting under various regulation
    • OSFI Guideline B-13 – obligations and implementation
    • OSC, and other, regulations regarding technology and cybersecurity risk
    • Understanding compliance thresholds for differing regulatory requirements
      • What is a “material” breach and “how” to report it
  • Guideline B-13 – what is required for compliance and disclosure
  • How to harmonize with PIPEDA regulatory reporting rules
    • What is a “significant risk of harm” – when is a breach reportable?
  • Managing a breach  – do’s and don’ts
    • What is considered appropriate and effective risk management?
  • Considerations unique to the insurance industry

3:30 p.m. – 3:45 p.m. – Afternoon Networking Break

3:45 p.m. – 4:45 p.m.
Third Party Risk Management – Applying Guideline B-10

Kolby Kyle, Director, Risk Assurance, PricewaterhouseCoopers LLP

  • Defining third party risk management
  • Overview of changes and revisions to Draft OSFI B-10 Guideline
  • Examination of a comprehensive third party risk management framework
  • Steps to take prior to entering into a third party arrangement
  • Understanding 4th / Nth party risk

4:45 p.m. – End of Day 1

Program – November 30

9:00 a.m. – 9:05 a.m.
Opening Remarks from the Chair

Bobby Thompson, Partner, KPMG LLP

9:05 a.m. – 10:15 a.m.
LICAT – Pending Developments and Current Considerations

Carla Crichlow, Senior Manager, Actuarial Consulting, Oliver Wyman
Catherine Sun, Senior Manager, Actuarial Consulting, Oliver Wyman

  • Brief overview of final LICAT framework
  • Overview of changes and revisions to final LICAT 2023 Guideline from LICAT 2019
  • Potential impact to insurer and capital volatility in the near future

10:15 a.m. – 11:15 a.m.
Assurance on Capital, Leverage and Liquidity Returns – Implementing the New Guideline

Kamran Raza, Senior Manager, Ernst & Young LLP

  • Examination of scope and application of the Guideline
    • External auditors and oversight function
    • Senior management attestation
    • Internal audit opinion
    • SMSB considerations
  • Effective preparation of material risk components and material misstatements in applicable reporting schedules
  • Considering “materiality” within the scope of the Guideline
  • Senior management attestation – issues on which to focus
    • Differences arising from size of FRFI

11:15 a.m. – 11:30 a.m.
Morning Networking Break

11:30 a.m. – 12:15 p.m.
Climate Risk Management – Integration and Operational Challenges Presented by Draft Guideline B-15

Jean-Francois Gagnon, Partner, Ernst & Young LLP
Nicolas GĂ©min, Partner, Ernst & Young LLP

  • Overview of Climate Risk Draft Guideline (B-15)
  • Understanding physical risks, transition risks and liability risks
  • Relationship to operational resiliency and operational risk
    • Integrating with ORSA
  • Implications for governance and risk
  • What does a climate risk management program look like?
    • Related scenario analysis and stress testing
    • Impact on capital and liquidity adequacy
  • Modelling and model risk management – sources of data and reliability
  • What is expected of SMSB’s
  • Financial disclosures
    • Inter-relationship with climate risk regulations of multiple regulatory agencies
    • Principles that must be applied in undertaking disclosure

12:15 p.m. – 1:15 p.m.
Luncheon

1:15 p.m. – 2:00 p.m.
Meeting the ESG Requirements of Multiple Supervisory Agencies – OSFI, OSC, SEC

Haiden Ward, Senior Manager, ESG and Sustainability, PricewaterhouseCoopers LLP
Simran Khattra, Senior Associate, ESG and Sustainability, PricewaterhouseCoopers LLP

  • Developments related to Environmental, Social and Governance (ESG) initiatives
  • Meeting expectations for high-quality, transparent, reliable and comparable reporting
  • What ESG means for reporting entities
  • About ESG trends, challenges, and regulatory developments
  • What the future of ESG reporting looks like, including the role of finance team

2:00 p.m. – 3:00 p.m.
The Future of Reporting – Balancing Profitability, Capital and ESG Impacts

Raj Matharu, Partner, Insurance Finance & Accounting Advisory, Deloitte LLP
Sree Balakrishnan, Partner, Insurance Data & Systems, Deloitte LLP

  • Recap of today’s reporting approach for L&H and P&C insurers
  • Balance between reporting objectives and impacts to decision making
  • Influence of IFRS 17, ESG regulation
  • Impacts of automation on reporting
  • How will this be facilitated?
  • How can finance/actuarial functions be better business partners to the broader organization?

3:00 p.m. – 3:45 p.m.
Tax and Tax Accounting Update

Stephen Wong, Executive Director, Financial Services Tax, KPMG , KPMG LLP
Pej Saket, Executive Director, Financial Services Tax, KPMG LLP

    • Draft tax legislation – IFRS 17
      • transition adjustment
      • CSM deductibility
      • CSM deductibility
    • Schedule 150
      • new required disclosure
    • Tax issues presented by IFRS 9
    • Mandatory disclosure
      • new requirements for “Notifiable Transactions” and “Uncertain Tax Positions”
      • expansion of “Reportable Transactions” disclosure
    • BEPS
    • CRA audit and review activities in the insurance industry
    • Other tax developments
Registration OptionsBefore August 2, 2022Before August 16, 2022After August 16, 2022
IFRS 9 – Accounting for Derivatives in Practice$2,199.00 + HST$2,299.00 + HST$2,399.00 + HST

Our HST Number: R862562543

Group Discount: Fourth Delegate FREE!

If three individuals from one organization register at the same time, a fourth person may also be registered to attend free of charge. The free registration must be of equal or lesser value than the paid registrations. Please contact us to arrange for attendance of larger groups.

Your Registration Includes

Registration fees include all conference materials, continental breakfast, lunch and refreshments. Parking and accommodation are not included.

FREE CONFERENCE WORKBOOK

As a registered delegate, you will receive a complete set of conference materials. These materials will serve as an invaluable guide, both during and after the event. The workbook will be distributed on the morning of the first day beginning at 8:00 a.m.

Cancellation Policy

Substitutions may be made at any time. If you are unable to attend, please make cancellations in writing and fax to (416) 504-6978 or email to info@acumeninformation.com prior to 5:00 p.m. on September 5, 2022. A credit voucher will be issued to you for the full amount, redeemable against any other Acumen conference. If you prefer, you may request for a refund of fees paid less $250 administration fee. Registrants who cancel after above date will not be eligible to receive any credits or refunds and are liable for the entire registration fees.

Confirmed delegates who do not cancel before September 5, 2022, and fail to attend will be liable for the entire registration fees.

Acumen Information Services reserves the right to change the date, location and content for the event(s) offered herein without further notice and assumes no liability for such changes.

Register prior to May 8, 2023, and you will obtain the following additional savings:

Second delegate:$100 Discount
Third delegate:$150 Discount
Fourth delegate:FREE

Please indicate that you are eligible for this offer on the registration page or your registration form if you are mailing in your registration.

The conference will be held at a convenient location in downtown Toronto. Venue information and special conference accommodation pricing details will be provided upon confirmation of the venue.

Delegates can register at the Acumen service desk beginning at 8:00 a.m. on the morning of the first day of the conference. Registration fees do not include hotel accommodation or parking.

This conference has been specifically designed for, and in consultation with, experts in accounting for financial institutions as well as standard setters. The event has been developed with the professional responsibilities of our audience as our focus. As well, auditors, financial advisors, analysts, lawyers and other advisory professionals would benefit from staying current on the information provided at this timely event. In particular, our experience indicates that individuals in the following positions would mostly likely be in attendance:

  • Chief Financial Officers
  • Chief Risk Officers
  • Chief Compliance Officers
  • VPs, Directors and Managers
    • Finance
    • Accounting
    • Financial Reporting
    • Regulatory Compliance
  • Controllers
  • Internal Auditors
  • Audit Committee Members
  • Corporate Counsel
  • Risk Managers
  • Audit and Assurance Professionals
  • Industry Regulators and Standard Setters
  • Financial Analysts
  • Corporate and Securities Lawyers

Comments from Past Delegates to Acumen Conferences

“…provided a very good high level summary of the key impacts of IFRS to financial institutions.”
Associate Chief Accountant, Bank of Montreal

“Presentations were clear even though topics were complex.”
Chief Financial Officer, Société Générale

“Best conference I’ve ever attended.”
Senior Manager, Enterprise Hedge Accounting and Derivative Reporting, Royal Bank of Canada

“Suffice it to say that the conference delivered on my expectations…A lot has been taken away from this conference…$ well spent…”
V.P. Risk Management Advisory, New Brunswick Credit Union Stabilization Board

“Finally a course that communicates true technical knowledge”
Director, Operations Finance, NAV Canada

“This seminar was fantastic – very informative and has some extremely interesting and knowledgeable speakers.”
Manager, Corporate Accounting, Brascan Power

“Great balance between theory and practical application/issues. Perfect level of detail…”
Treasury Manager CHC Helicopter Corporation

“Speakers were very knowledgeable, materials were current…examples and materials were relevant and well presented.”
Derivatives Accountant, Agrium Inc.

To obtain a copy of the brochure, please send a request to the email below or click on the image of the brochure on this page.

Email at info@acumeninformation.com

To submit questions to be answered at the conference, please send us an email at this address: info@acumeninformation.com

Limited sponsorship and exhibition options are available for this event, including

• Cocktail reception
• Luncheon sponsorship
• Breakfast sponsorship
• Booth/exhibit space

For more information, or to check availability,
please contact us by phone at (416) 504-6952
or by e-mail info@acumeninformation.com

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