Insurance Reporting & Regulation

Early Bird Offer

A comprehensive update on recent and upcoming issues from OSFI, IASB and Securities Regulators.

November 29-30, 2022 – Toronto

CPE – 12.5 hours

National experts in insurance, accounting, risk management and regulation address highlight key recent developments, new standards and guidance as well as pending issues including:

  • Reporting and disclosure transition – IFRS 4 to IFRS 17
  • IFRS 17 and Key Performance Indictors (KPI’s)
  • Model risk management and governance – Guideline E-23
  • Operational resilience and operational risk – applying E-21
  • Model Risk Management and Model Governance – Life and P&C
  • Cybersecurity and tech risk management
  • Third party risk management – complying with B-10 in insurance
  • LICAT – Current considerations and pending developments
  • Assurance on capital, leverage and liquidity returns under the new guideline
  • Climate risk management – draft guideline B-15
  • Meeting the ESG requirements of multiple regulatory agencies
  • The future of reporting – balancing profitability, capital and ESG impacts
  • Tax and account update in the insurance industry – IFRS 17 developments

FREE Digital Copy of Conference Proceedings

All final materials delivered at the conference will be made available o delegates after the conference in electronic format in addition to the conference manual.

Register

Delegate Comments

“Very engaging speakers and a great range of topics from the industry updates to practical journal entry exercises”

Manager, Corporate Accounting, Empire Life

“As always Acumen’s content is broad and encompassing. It reaches beyond the obvious and takes the obvious into significant depth”

Senior Vice President and Chief Financial Officer, First Canadian Insurance Corporation

“Best conference I’ve ever attended.”

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

“Good education and eye opener for some major concerns”

Corporate Actuary - Life, The Co-operators Group Limited

“Great overview of all things we need to consider in implementing IFRS 17, including many tools and warnings about pitfalls”

Senior Vice President and Chief Actuary, Ivari

“Some great presentations which dove into key areas…”

Assistant Vice President Finance, CAA Insurance Company

“My first conference by Acumen. Very good conference!”

Assistant Vice President Corporate Actuarial, Ivari

Program – November 29

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

Bobby Thompson, Partner, KPMG LLP

9:05 a.m. – 10:00 a.m.
Reporting and Disclosure Transition – IFRS 4 to IFRS 17

Alana Hudson, Senior Manager, KPMG LLP

  • IAS 8 requirements – required disclosures regarding IFRS 17 progress and impact on the business
  • Key considerations when determining what information to include in IAS 8 disclosures
    • Public or private company?
    • Who are your users and what are their needs?
  • IFRS 17 disclosure requirements in Q1 2023/YE 2023
  • IFRS 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

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

Adil Palsetia, Partner, Cyber Security, KPMG LLP (Tentative)

  • Cybersecurity reporting under securities 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
  • Determining adequacy and scope of risk management
  • How to harmonize with PIPEDA regulatory reporting rules
    • What is a “significant risk of harm” – when is a breach reportable?
  • Anticipating a breach – do’s and don’ts – what is considered appropriate and effective risk management?
  • Risk issues unique to the insurance industry – technology and data

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

Dana Chaput, 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

  • 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

Scott Morrison, Director, 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 October 7, 2022Before October 14, 2022After October 14, 2022
Insurance Reporting & Regulation$1,799.00 + HST$1,999.00 + HST$2,299.00 + 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 November 15, 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 November 15, 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 November 8, 2022, and you will obtain the following additional savings:

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

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 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 Actuaries
  • Chief Accounting Officers
  • Chief Risk Officers
  • Controllers
  • VPs, Directors and Managers
    • Actuarial Accounting
    • Financial and Regulatory Reporting
    • Finance
    • Regulatory Compliance

Risk Managers

  • Actuaries
  • Internal Auditors
  • Audit Committee Members
  • Audit and Assurance Professionals
  • Industry Regulators and Standard Setters
  • Corporate Counsel
  • Financial Services Regulatory Lawyers

Comments from Past Delegates to Acumen Conferences

“Very engaging speakers and a great range of topics from the industry updates to practical journal entry exercise.”
Manager, Corporate Accounting, Empire Life

“Provided good info on various IFRS 17 topics…”
Actuary, Creditor Marketing, The Co-operators Group Limited

“Good education and eye opener for some major concerns.”
Corporate Actuary, Life, The Co-operators Group Limited

“Great overview of all things we need to consider in implementing IFRS 17, including many tools and warnings about pitfalls.”
Senior Vice President & Chief Actuary, Ivari

“As always Acumen’s content is broad and encompassing. It reaches beyond the obvious and take the obvious into significant depth.”
Senior Vice President & Chief Financial Officer, First Canadian Insurance Corporation

“Some great presentations which dove into key areas…”
Assistant Vice President, Finance, CAA Insurance Company

“My first conference by Acumen. Very good conference!”
Assistant Vice President, Corporate Actuarial, Ivari

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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