Past Events

August 20, 2022 - Recovery Planning

Presented by Andy Poprawa - Regulatory Consultant & Advisor

This session will explore the guidance provided by FSRA for Recovery Planning for Ontario credit unions and their implications for directors and senior management. FSRA has issued and continues to issue new rules and guidance in a number of areas which will require Committee and Board members to become more informed and better equipped to fulfill their oversight responsibilities. The objective of this seminar is to enhance the resilience of financial institutions through recovery planning for more severe and wide-ranging adverse scenarios

June 25, 2022 – Governance
- Presented by Andy Poprawa - Regulatory Consultant & Advisor

Governance is the framework of responsibilities and accountabilities employed by the board to effectively discharge these duties. In this session we will explore the governance expectations being placed on Ontario credit union directors as the regulatory environment evolves. FSRA has issued and continues to issue new rules and guidance in a number of areas which will require Committee and Board members to become more informed and better equipped to fulfill their oversight responsibilities.

September 12, 2020 - Regulatory Environment & Risk Management Oversight

Presented by Andy Poprawa - Regulatory Consultant & Advisor

June 6, 2020 - Governance & Ethics
Presented by Andy Poprawa - Regulatory Consultant & Advisor

May 11, 2019 - Stress Testing
February 23, 2019 (Toronto) – Securitization
- Presented by Andy Poprawa - Regulatory Consultant & Advisor

Securitization is the process in which certain types of illiquid, receivable type assets are pooled so that they can be re-packaged into interest bearing securities. Pooled assets typically include residential mortgages, commercial mortgages, auto and equipment loans and leases, credit card receivables or other financial assets’ receivables. Investors are repaid from the principal and interest cash flows collected by the credit union from the underlying assets. The Board of Directors places a critical role in setting risk appetite, reviewing and approving the credit union’s securitization policy and overseeing the securitization framework, program and practices. This responsibility requires that the Board have the appropriate competencies obtained through training, experience and/or expertise to oversee management’s prudent administration of the securitization program in which the credit union is engaged to ensure they are appropriately mitigating the risks and operating within the Board’s risk appetite.

February 23, 2019 (Toronto) – Enterprise Risk Management
- Presented by Andy Poprawa - Regulatory Consultant & Advisor

The ERM Process provides the Board of Directors reasonable assurance the Credit Union is doing its best to avoid and control risk exposure, or that it is able to manage events that can cause any type of losses, if they occur, despite preventative measures in place. All credit unions are required to implements a comprehensive ERM framework that is appropriately scaled to reflect its size, complexity and risk profile. The Board and senior management set the tone for enterprise risk management in the credit union. This includes establishing the credit union’s risk appetite and how risks will be identified, measured and managed.

January 5, 2019 (Toronto) – Strategic Planning Phase II
December 1, 2018 (Toronto) – Strategic Planning
- Presented by Andy Poprawa - Regulatory Consultant & Advisor

October 27th, 2018 (Toronto) - Governance Training -
- Presented by Andy Poprawa - Regulatory Consultant & Advisor

Governance is the framework of responsibilities and accountabilities employed by the board to effectively discharge these duties. Governance is the set of professional relationships through which a credit union is directed and controlled. The objective of governance is to make good decisions to improve organizational performance, create viable and sustainable organizations, and safeguard assets of the organization. Directors are expected to provide prudent, independent and objective oversight to effectively guide and monitor the implementation of strategic initiatives, oversee risk management activities and to participate with the Board as a whole in communicating a cohesive approach and position.

September 23^rd , 2018 (Toronto) - IFRS 9 & DICO Training -
- Presented by Deloitte LLP
- IFRS 9 Financial Instruments brings fundamental change to financial instrument accounting as it replaces IAS 39 Financial Instruments. The IFRS 9 ‘Financial instruments’ model includes requirements on the classification and measurement of financial assets and liabilities. This new model is a single impairment model being applied to all financial instruments removing a source of complexity associated with previous accounting requirements.
- Presented by Roman Sochaniwsky - Relationship Manager, Regulation and Risk Management
- The Deposit Insurance Corporation of Ontario (DICO) is an Ontario Provincial Agency established under the Credit Unions and Caisses Populaires Act, 1994 . DICO’s role is to protect depositors of Ontario credit unions and caisses populaires from loss of their deposits. Deposit insurance is part of a comprehensive depositor protection program for all Ontario credit unions which is backed by provincial legislation.

DICO helps keep Ontario’s credit unions safe and sound by providing deposit insurance and regulating their activities.

September 9^th, 2018 (Toronto) - Risk Management Training -
- Presented by Randy Tanaka - President, Level Five Strategic Partners Inc.
- The Board is responsible for the oversight of the credit union’s risk management practices, including Enterprise Risk Management. Risk management involves identifying, measuring and managing significant risks and events that may impact an organization’s objectives. It encompasses policies, procedures and controls and how risks are managed.

March 10, 2018 (Toronto) - Financial Literacy
- Presented by Vineet Bapat - Consultant and Coach – Credit Union System

Monitoring the financial performance, financial position and financial stability of your credit union is a key responsibility of the Board. This module presents the fundamentals of credit union performance monitoring with respect to key trends and changes that may occur over a fiscal period, as well as monitoring the indicators of operational and policy changes.

Typically, decisions made at the strategic planning stage should be somewhat reflected in the changes in key indicators that pertain to the four key performance and risk areas as follows:

Capital levels
Profitability
Liquidity levels
Financial risk management

January 27, 2018 (Toronto) - Governance & Ethics
- Presented by Vineet Bapat - Consultant and Coach – Credit Union System

Governance is the process of decision-making and the process by which decisions are made and implemented. In an organizational context, governance also refers to the framework of decision-making that directs the resources and activities of an organization to achieve its goals and objectives and carry out its mandate.

Governance is also the primary means of maintaining oversight and accountability in an organizational structure. Governance strategy and practices implement systems to monitor how the organization is performing, and whether policies, procedures and regulations are being complied with. Such monitoring also provides for corrective action in cases where the rules have been ignored or misconstrued.

October 14^th, 2017(Toronto) - Credit Union Operations Training -
- Presented by John Howard - Internal Auditor

It is important that directors have a good understanding of the nature of the co-operative business model and that of the credit union and sector, the way the credit union functions and the financial, human and technological resources the credit union uses in delivering its services. Directors should demonstrate an appropriate level of knowledge and understanding of how the credit union’s infrastructures inter-relate and how they enable the effective and efficient delivery of services while managing risk and regulatory requirements

May 27^th, 2017 (Toronto) - Regulatory Environment Training -
- Presented by Vineet Bapat - Consultant and Coach – Credit Union System
- Credit unions operate in a regulated environment and are governed by the Act (including Regulations), DICO By-laws, other legislation and its by-laws. The Act sets out how credit unions are structured and the special nature of the credit union governance structure, business powers and lending and investment restrictions and limitations. DICO By-law #5 provides more clarification and guidance on the sound business and financial practices.

October 29^th, 2016 (Toronto) - Audit Compliance Training
Presented by John Howard, Howard Associates

Audit Compliance is the understanding of the risks facing the institution, the ways in which management addresses and mitigates those risks and ensures that the financial statements accurately reflect the activities of the credit union. These functions are assessed through the activities which are carried out by a combination of internal and external auditors which involves systematically reviewing key risks and ensuring that any identified weaknesses or deviations from policy and legislative requirements are rectified by management.

October 29^th, 2016 (Toronto) - Anti-Money Laundering Training
Presented by: Amber D. Scott, Founder & Chief AML, Outlier Solutions Inc. &

Jonathan A. Krumins, Vice-President, vCamlo Solutions Inc.

Anti-money laundering (AML) is a term mainly used in the financial and legal industries to describe the legal controls that require financial institutions and other regulated entities to prevent, detect, and report money laundering activities. Director’s must have an understanding of the AML program at their credit union and provide the governance and oversight required to ensure that the compliance program is effective.

July 23, 2016 (Toronto) - Strategic Planning

Presented by Randy Tanaka - President, Level Five Strategic Partners Inc.

Strategic planning is part of a regular process that helps determine or confirm the credit union’s overall longer term direction or vision. It includes an analysis of results, existing plans and strategies and an assessment of the current business and operating environment. Strategic planning initiates the annual business planning process. Directors are expected to contribute to strategic planning by understanding the strategic planning process and strategy formulation. This includes having a good knowledge of the credit union’s business and operating environment, and being prepared for planning deliberations. It also requires collaboration and teamwork in developing an appropriate and effective strategic plan, and monitoring implementation of the plan.

April 30^th, 2016 (Toronto) - Governance Training
Presented by John Howard, Howard Associates

Governance includes understanding and contributing to the development and articulation of strategic plans, goals, policies and processes which govern and guide the way the credit union is directed and managed. Directors are expected to provide prudent, independent and objective oversight to effectively guide and monitor the implementation of strategic initiatives, oversee risk management activities and to participate with the Board as a whole in communicating a cohesive approach and position. Effective corporate governance is an essential element in the safe and sound functioning of a credit union. Structures, policies and processes only work in practice where there are knowledgeable and competent individuals, with a clear understanding and strong commitment to their roles. Directors are expected to perform their responsibilities in a prudent and objective manner with due regard to the best interests of the credit union.

April 30^th, 2016 (Toronto) - Financial Literacy Training -
- Presented by Ron Smith - Chief Financial Officer & Chief Compliance Officer
- Financial literacy involves understanding financial reports and statements, accounting standards and assumptions and legislative requirements in order to effectively oversee the financial performance and condition of the credit union. It is important to understand how these are developed and the types of analysis are required to effectively monitor results and variances.