RECENT PROJECTS
- Executing ALM strategies and portfolio optimization for asset management clients.
- Designing innovative LDI solutions for pension funds.
- Implementing a strategic ALM framework for asset management clients.
- Performing on-going ALM analysis and reporting for asset management clients.
- Implementing an ("ERM") framework for a multinational insurance company.
- Formulating, testing and implementing ALM strategies for a medium sized Canadian insurance company.
- Formulating and implementing ALM strategies for large multinational reinsurer.
- Conducting independent risk assessments and interest rate risk analyses for Canadian and US life insurance and reinsurance companies.
- Conducting ALM best practice reviews for Canadian and US life companies.
- Assisting with the implementation of an (“ERM”) framework for a large Canadian life insurance company.
- Meeting with over 70 insurance companies in the US, Canada and Europe to discuss ALM, ERM and Equity Risk Management.
- Implementing risk management strategies including dynamic hedging and conducting related analysis for companies in Canada, US, Europe and Asia.
- Assisting companies in the US and Asia with pricing, product development and related analysis of variable annuity and UL products with investment guarantees.
- Pricing and product development of segregated fund products for a Canadian life insurance company.
- Designing yield enhancement strategies using derivatives for a Canadian life insurance company.
- Conducting an asset liability frontier analysis for an Asian life insurance company to help them perform a portfolio optimization.
- Providing companies with tools to rebalance the portfolio and instantaneously see the impact of proposed rebalance trades on the interest rate risk exposure and economic surplus.
- Conducting the recent CIA survey on ALM practices and organizing the focus group discussions among ALM practitioners.
- Providing on-going assistance to insurance companies on ALM.
- Implementing an ALM framework and providing on-going assistance for the Canadian subsidiary of a large multinational insurer.
- Conducting an independent review of the ALM Policy Statement of a medium sized Canadian life insurance company at the request of the Audit Committee.
- Conducting an independent risk assessment of a Canadian life company.
- Assisting a U.S. company with the design and pricing of a variable annuity product, quantifying the associated risk exposure and developing an effective of risk management strategy to suit the desired risk/return profile of the investors.
- Developed industry leading course Asset Liability Management Techniques and Practices for Insurance and Pensions conducted globally with the Society of Actuaries and co-sponsored by Standard and Poor’s.
- Trained over 600 ALM practitioners, regulators, rating agency analysts and senior management on Asset Liability Management worldwide.
- Training key Treasury staff and policy makers at the World Bank on ALM.
- Training rating agency analysts on ALM for Standard and Poor’s.
- Conducting training sessions for the Office of the Superintendent of Financial Institutions (“OSFI”) on ALM.
CREDENTIALS
Charles L. Gilbert, FSA, FCIA, CFA, CERA
is president and founder of Nexus Risk Management Inc. providing advanced risk management solutions to the financial services industry globally. Mr. Gilbert does a wide range of Asset Liability Management and Enterprise Risk Management related work for several insurance and reinsurance companies worldwide.
Mr. Gilbert has made significant contributions to the field of Enterprise Risk Management that have served to advance the practice in this area. He has been recognized as a thought leader within the field of Enterprise Risk Management by the Society of Actuaries.
Through a number of joint ventures Mr. Gilbert executes ALM strategies and portfolio optimization for asset management clients, conducts on-going research and provides training.
Previously, Mr. Gilbert was the leader of the Asset Liability Management initiative for Tillinghast - Towers Perrin in North America and was also responsible for building the Equity Risk Management initiative for the firm.
Prior to joining Tillinghast, Mr. Gilbert was Head of Asset Liability Management and Corporate Actuary at ING Life where he was responsible for Asset Liability Management, as well as the valuation, pricing and financial management for investment products. He developed innovative strategies to immunize the interest rate risk exposure on universal life and other life products and researched various ways to manage the risk associated with investment guarantees on variable annuities and segregated funds. Other past work experience has included US and Canadian taxation, valuation and financial management.
Mr. Gilbert has over 20 years of experience in the life insurance industry and has trained over 600 ALM practitioners, regulators, rating agency analysts and senior management on Asset Liability Management worldwide.
Mr. Gilbert graduated cum laude from York University and has an honours B. A. in mathematics. He is a Fellow of the Canadian Institute of Actuaries, a Fellow of the Society of Actuaries, a Chartered Enterprise Risk Analyst and holds the Chartered Financial Analyst designation. He is currently a member of the Board of Governors of the Society of Actuaries, chairperson of the Canadian Institute of Actuaries Working Group on Asset Liability Management, general officer of the Society of Actuaries Finance and ERM Examination Track and member of the International Actuarial Association Task Force on Financial Economics.
Mr. Gilbert is a past chairperson of the Canadian Institute of Actuaries Committee on Investment Practice, past secretary of the Society of Actuaries Investment Section Council, past treasurer of the Society of Actuaries Risk Management Section Council, past member of the Canadian Institute of Actuaries Practice Standards Council, past member of the Society of Actuaries Finance Practice Advancement Committee, past member of the Society of Actuaries Risk Management Task Force, past representative for both the Canadian Institute of Actuaries and the Society of Actuaries on the International Actuarial Association Financial Risks Committee, past chairperson of the Society of Actuaries Task Force on ALM Principles, past chairperson of the Society of Actuaries Examination Committees for Course 8 Investments and Financial Economic Theory, and recently served as a director of the Board of the Canadian Institute of Actuaries. He is a frequent speaker and moderator at industry gatherings worldwide.
Jonathan S. Hede, FSA, FCIA, CFA is vice president of Nexus Risk Management Inc. responsible for managing all areas of the business and providing risk management and investment expertise to clients in Canada, the US and abroad. Mr. Hede is also responsible for executing the firm's strategy to expand operations and oversee the launch of leading edge software to execute Asset Liability Management.
Mr. Hede has over 14 years experience in the financial services industry, including life insurance, annuities and pensions. Most recently Mr. Hede served as AVP, Quantitative Risk Management at a multinational mid-sized life insurance company, where his responsibilities included asset allocation and initiation of an investment risk management program. He also provided oversight of the corporate Asset Liability Management reporting and modelling for life insurance, fixed annuities and hedging for equity-indexed annuities, and also development of stochastic modelling capabilities. Mr. Hede has previously held senior-level financial management responsibility across areas of valuation, financial reporting and profitability analysis. Other past experience includes development of an actuarial data warehouse and business intelligence platform, and design and pricing of retirement products.
Mr. Hede graduated from the University of Waterloo with an Honours Bachelor of Mathematics in Actuarial Science. He is a Fellow of the Canadian Institute of Actuaries, a Fellow of the Society of Actuaries, and holds the Chartered Financial Analyst designation.
Mr. Hede is vice-chairperson of the Canadian Institute of Actuaries Committee on Investment Practice, a vice-chairperson for the Society of Actuaries Examination Committee on Financial Economic Theory, and a member of the Professional Risk Managers' International Association. He is a past member of the Canadian Institute of Actuaries Annual and General Meeting Organizing Committee and past member of the Society of Actuaries Course 6 Examination Committee.
Maxime J. Carrier, FSA, FCIA, FRM is Senior Risk Actuary at Nexus Risk Management Inc. providing advanced risk management solutions to the financial services industry globally. Mr. Carrier does a wide range of Asset Liability Management related work for several insurance and reinsurance companies worldwide. Through a number of joint ventures he executes ALM strategies and portfolio optimization for asset management clients, conducts on-going research and provides training.
Mr. Carrier is responsible for dynamic hedging, executing ALM strategies and performing risk optimizations. He is also actively involved in developing and maintaining a suite of financial models used to perform industry leading risk quantification and analysis.
Mr. Carrier has worked with some of the leading insurance companies in the life insurance industry and has experience in hedging strategies, pricing, valuation, and corporate risk management.
Mr. Carrier graduated from Laval University with a Bachelor in Actuarial Sciences. He is a Fellow of the Canadian Institute of Actuaries, a Fellow of the Society of Actuaries, and holds the Financial Risk Manager designation. Mr. Carrier has successfully completed the Level I and Level II CFA examinations.
Mr. Carrier was a member of the SOA Fundamentals of Actuarial Practice (FAP) modules examination and is currently the chairperson of the CIA Experience Subcommittee on Segregated Funds.
Christina A. Perruzza, BA is Marketing & Communication Project Specialist for Nexus Risk Management Inc. responsible for marketing and client relationship management. Ms. Perruzza is also responsible for the coordination of industry leading executive training programs on risk management conducted globally.
Ms. Perruzza has a broad range of marketing and program coordination experience spanning ten years across multiple industries.
Prior to her work with Nexus Risk Management Inc., Ms. Perruzza worked in a sales and marketing capacity for a commercial real estate brokerage firm, where she provided diverse account support on behalf of the firm's key accounts. She was also responsible for critical marketing campaigns and events, while also engaging in market area research and analysis.
Ms. Perruzza spent a number of years as Account Manager in the retail industry where she was responsible for managing existing accounts, prospecting new accounts and acting as main liaison with head buyers of various retailers.
Ms. Perruzza graduated from the University of Western Ontario with a Bachelor of Arts
degree.
Ahmed S. Hussain, BSc is Software Engineer for Nexus Risk Management responsible for design, development and deployment of the firm’s software and technology initiatives for North America and Asia.
Prior to joining Nexus, Mr. Hussain gained experience across a broad variety of disciplines including banking, insurance, education and healthcare, where he implemented complex multi-tier insurance applications and time-critical data warehousing solutions. Most recently, Mr. Hussain designed key business technology solutions for a large Canadian bank.
Mr. Hussain graduated from University of Toronto with an Honours degree in Computer Engineering and Financial Economics.