Toronto has long believed it was the Centre of the Universe. Well, in risk management circles, perhaps now it is.
Last week the Department of Finance Canada announced the creation of the Global Risk Institute in Financial Services or GRi. It will be an “independent, not-for-profit entity with a board of directors and an advisory research council comprised of senior leaders from industry, regulators and the academic community.”
Additionally “GRi will perform five key functions: (i) developing leading-edge thinking; and practical, policy-relevant applied research in the area of financial risk management; (ii) providing consulting and advisory services to governments, regulators and industry; (iii) providing professional risk education to senior industry practitioners; (iv) partnering with academic institutions and professional organizations to train new graduates; and (v) hosting international forums and conferences. “