Balancing Financial Stability and the Competitiveness of Small and Medium-sized Financial Institutions
Roundtable Luncheon with Steve Bevington, Rick Lunny and Scott Wilkinson
To make deposit-taking financial institutions more resilient, the Office of the Superintendent of Financial Institutions (OSFI) recently proposed stricter rules requiring banks to reserve a greater share of deposits sourced online and from third-party brokers. Many financial institutions voiced concerns that these proposals would disproportionately and adversely impact the competitiveness of small and mid-sized banks, leading OSFI to scale back these requirements. Join our panel of experts on December 9 to discuss OSFI’s ongoing proposed regulations for 2020, the competitiveness of financial institutions, and Canadian financial stability in times of stress.
Steve Bevington, Managing Director, Bank Capital; Capital Division, Regulation Sector, Office of the Superintendent of Financial Institutions
Rick Lunny, President and Chief Executive Officer, Manulife Bank of Canada
Scott Wilkinson, Corporate & Business Development Broadridge RPM Technologies
Steve Bevington, Managing Director, Bank Capital; Capital Division, Regulation Sector, Office of the Superintendent of Financial Institutions
Steve Bevington joined the Office of the Superintendent of Financial Institutions (OSFI) in 2018 as Managing Director, Bank Capital where he oversees the development and implementation of a range of capital, liquidity, and associated prudential standards for federally-regulated deposit taking institutions. His primary responsibilities also include enhancing OSFI’s focus on developing more tailored capital and liquidity requirements that take into account the unique nature of small and medium-sized banks.
Prior to joining OSFI, Steve was Managing Director, Risk Assessment at Canada Deposit Insurance Corporation where he oversaw the surveillance of its member institutions and coordinated various intervention-related activities in close coordination with OSFI. Prior to joining CDIC in 2011, Steve held a number of treasury and risk management positions supporting the mortgage insurance and securitization operations at Canada Mortgage and Housing Corporation.
Steve holds a Master of Arts in Public Administration from Carleton University and is a CFA charterholder.
Rick Lunny, President and Chief Executive Officer, Manulife Bank of Canada
Rick is President & CEO of Manulife Bank of Canada. He is accountable for all strategic and operational aspects of the bank.
Manulife Bank is Canada’s original digital bank, and the 10th largest bank in Canada. Its unique all-in-one mortgage and deposit products are focused on working in the customer’s best interest. Most recently, Manulife Bank launched an innovative and industry leading digital All-in-Banking” package to international acclaim.
Rick has enjoyed a diversified banking career, always with a mindset of leveraging technology as an enabler and differentiator. Prior to joining Manulife in 2014 he held various senior executive roles in retail and commercial banking including, CIBC, General Electric and TD Bank. Rick is a graduate of Concordia University, Montreal. He is the volunteer Chair of the board of directors of the Arthritis Research Foundation.
Scott Wilkinson, Corporate & Business Development Broadridge RPM Technologies
Scott Wilkinson has a strong track record as a financial executive, technologist and management consultant of conceiving and building innovative solutions for the Canadian retail financial services market.
Scott has researched and written extensively on Canadian financial topics including FinTech strategy, mortgage and mortgage insurance, broker deposits, pension and mass affluent wealth management and recently small bank competition policy. Recently he completed a thorough analysis on the 2017 Home Trust liquidity event – Canada’s first modern investor-confidence based crisis in modern history.
Scott's career spans banking IT, channel and product leadership roles, management consulting and IT sales executive roles. Scott has helped over 30 leading US, Canadian and UK financial brands such as AGF Funds Management, Progressive Insurance, MGIC, GE Capital, American Express, Office Max, Sony Canada, Charles Schwab, VISA, IBM, CIBC, RBC, IFDS, Temenos and currently Broadridge RPM Technologies.
As a result of these diverse experiences, Scott brings a pragmatic multi-discipline approach to strategic topics facing Canadian financial leaders and regulators.
Scott holds a BA from the University of Toronto and an MBA with Distinction (Ivey Scholar) from Richard Ivey School of Business at Western University. He is also President of Radius Child and Youth Services, an Ontario charity focused on abuse counselling services, and provides mentorship and advisory services to several emerging FinTech businesses.
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