Risks and Opportunities

of

IFRS-9

What is IFRS-9?
A change to accounting standards where assets such as credit card portfolios are valued ‘looking forward’ rather than historical. This will have a great impact on accounts receivable, particularly high-risk credit card portfolios.

When?
If you are wondering when it comes into effect…too late! It applies to all business, great impact on lenders and came into effect for fiscal years starting January 1, 2018.

Risks:
Under IFRS-9, a high-impact event, like a crash in oil prices would impact the balance sheet now, not in the future when the actual losses occur.

Opportunities:
The value of sustained improvement in collection and recovery reduces the expectation of future losses.

Don’t miss out!Join us for this special dinner meeting and a panel led by Todd Christensen. Click here for full article by Todd.

Todd Christensen

LL.B., M.B.A., Barrister & Solicitor

Todd Christensen is the principal of Christensen Law Firm in Cambridge, Ontario.  He and his team of lawyers, paralegals and professional support staff restrict their practice to unsecured debt collection.  Amongst his many professional qualifications and contributions as both a management consultant and a lawyer, he gives back to the credit industry by writing articles and teaching professional development and certification courses for The Law Society of Ontario, the Credit Institute of Canada and other organizations.

He and his wife Paula have six children and three grandchildren.  They lived in BC, Alberta, New Zealand and the United States during his during the MBA-years of his career from 1995 to 2003 before bringing his law and business skills together to create a cutting-edge collections law practice.  He has served as a Boy Scout and youth leader in his church for over 30 years and enjoys motorcycling and water-skiing with his family.

Mahdi Amri

Partner, CFA Deloitte

Mahdi is a Partner in the Strategic Analytics and Modeling practice. In his role, he is responsible for building and developing Data and Analytics talent, market profile and differentiation and most importantly driving revenue growth for all Deloitte Analytic Services businesses.

The Deloitte Analytics practice includes some of the foremost experts in relation to data sourcing and optimization, analysis and interpretation, forecasting, prediction and modeling. The team is composed of experts from diverse fields including actuaries, statisticians, computer scientists, accountants, auditors and strategists. The Analytics team is working today with the most important organization including several industries.

Pedro Maya

VP, Canada Collections
Scotiabank

With over 20 years of experience working in fast paced Credit-Risk Management environments and worked with cross functional teams for different international markets (Canada, Mexico, Peru, Chile, Colombia and the Caribbean). Pedro holds a bachelor degree in Economics from Instituto Tecnologico Autonomo de Mexico (ITAM) one of the most respected Universities in Latin America.

As Vice President of Canada Collections, he is responsible for establishing and implementing a best in class collections business, introducing improved recovery tools, methodologies & best practices in order to optimize and transform team performance and approach.

Daniel Longridge,

Manager, Credit Risk Late Stage Customer Management, Canadian Tire Bank

Daniel has been with Canadian Tire Bank for 15 years holding various roles throughout the credit risk lifecycle including account acquisition, account management and predictive modeling.   In his current role he is responsible for the development and maintenance of CTB’s credit risk collection and authorization strategies.  Daniel’s team assisted the development of the models required to meet IFRS9 standards.  Daniel holds a Bachelors of Mathematics degree in Actuarial Science and Statistics from the University of Waterloo.

We are grateful for the sponsor for the March event: