Chapter spotlight: PRMIA Edmonton

Edmonton is the capital of the Canadian province of Alberta. Located on traditional territories of several First Nations along the North Saskatchewan River, Edmonton’s economic development was driven for a long time by trade and transportation. In the early twentieth century, Edmonton became a transportation hub known as the “Gateway to the North” thanks to construction of railways, oil and gas pipelines, and an airport. While Edmonton is still a major centre for the oil, gas, and petrochemical industries, its economy has diversified in many sectors, such as agriculture, education, financial services, health sciences, manufacturing, and technology.

Edmonton is home to several banks, credit unions, and financial institutions, notably:

In recent years, Edmonton saw an emergence of technological companies, including companies in the financial technology (fintech) sector, such as:

• ATB Financial is a financial institution that is owned by the Government of Alberta and serves over 240 communities across Alberta.

• Canadian Western Bank is an exchange traded and federally regulated bank providing specialty business banking services and personal banking options. • Servus Credit Union is Alberta’s largest credit union and a member-based and provincially regulated financial institution. • Alberta Investment Management Corporation (AIMCo) is an institutional investor that manages assets of provincial public retirement programs, endowments, and government funds.

• AlphaLayer provides investment management solutions based on machine learning. • Trust Science offers automatic loan underwriting using a data-driven approach.

The PRMIA Edmonton Chapter involves professionals in risk-related functions from a variety of organizations: financial institutions, fintech companies, pension funds, risk departments in other companies, and regulatory bodies. We have the goal to connect and educate risk professionals and engage with the younger generation to help them make career choices and enlighten them about the various possibilities of risk management as a profession. Specifically, the PRMIA Edmonton Chapter has a strong presence at the University of Alberta, where we are organizing—among other events—an annual Finance and Risk Management Career Conference.

The 2021 Finance and Risk Management Career Conference took place on November 26 in a fully virtual format. Carolyn Graham, who is Executive Vice President and Chief Risk Officer of Canadian Western Bank, gave an insightful presentation and provided students with valuable career advice. Her presentation was followed by a virtual career fair on the online platform GatherTown, where students were able to connect with professionals and potential employers to explore and learn more about careers in the finance and risk management industries.

A highlight in the calendar of the Canadian risk management community is the annual Canadian Risk Forum, which has taken place in a virtual format for the last two years. Each year, the PRMIA Edmonton Chapter has organized a topical session within the Canadian Risk Forum: the session in 2020 consisted of a panel discussion among eminent economists about Canada’s medium-term outlook, while the 2021 session was a virtual fireside chat among leading experts about opportunities and risks of open banking in Canada.

Regional Directors

• Christoph Frei, University Chapter Lead, Professor, University of Alberta

• Jammi Rao, Vice President, Business Services and Regulatory Practices, Credit Union Deposit

Guarantee Corporation (Alberta)

Steering Committee

• Bohdan Horak, University Chapter President, PhD Student, and Senior Quantitative Researcher,

AlphaLayer/AltaML • Chris Merriman, Past Regional Director, and Executive Director, Financial Institutions Policy,

Treasury Board and Finance, Government of Alberta • Dylan Kyle Oelofse, Risk Manager Tactical and Total Fund, AIMCo • Jean David Tremblay-Frenette, Director, AIMCo • Kevin Orpana, Past Regional Director, and Vice President, RDAAR, Canadian Western Bank • Michael Akinwumi, PhD, Chief Tech Equity Officer, National Fair Housing Alliance • Vandna Agrawal, Director ERM, Stantec Inc • William Van’t Veld, Director, ATB Financial