The first 3-C Risk Forum and International Conference on Engineering and Risk Management organized by the RiskLab Global and chaired by Luis Seco and Desheng Dash Wu took place at Fields Institute October 28-30, 2011.
Highlighting the rapidly evolving research in Financial Risk Management from World-wide known experts such as John Hull from Rotman, John Birge from Booth and David Simchi-Levi from MIT, the conference served as a timely and important exchange of knowledge and ideas.
Two Best paper awards went to Professor David Olson, James and H.K. Stuart Chancellors Distinguished Chair and Coordinator of Operations and Supply Chain Management at University of Nebraska, his coauthor and Professor Matt Davison, Canadian Research Chair. John Hull from Rotman issued the award certificate to both scholars.
The attendees enjoyed the following keynote speakers, in order of appearance: John Hull (Rotman), Matt Davison (UWO), David Olson (Nebraska-Lincoln), John R. Birge (Chicago Booth), Liyan Yang (Rotman), Don Hathaway (GRi), Yuri Lawryshyn (U Toronto), David Simchi-Levi (MIT), Rudi Zagst (TUM), Alexander Melnikov (U Alberta), Endre Boros (Rutgers), Tom Salisbury (York) and Pablo Olivares (Ryerson).
Professor of Derivates and Risk Management at the Rotman School of Management, John Hull spoke about Credit Value Adjustment and wrong-way risk. Elected Member of National Academy of Engineering, professor at the University of Chicago Booth School of Business, John Birge spoke about the use of operational and financial instruments in risk management. Editor in chief of Operations Research and professor at MIT, David Simchi-Levi gave presentation on the mitigation of risk from known-unknown and unknown-known. Interim CEO of Global Risk Institute, Don Hathaway promoted the newfound, not-for-profit, ground-breaking and ambitious institution in the context of the Canadian and Global economy, focussing on policy facing reform.
During the paper sessions, which were chaired by Walid Mnif, Kevin D. Ferreira, and Dexter Wu, a number of talented PhD students had the unprecedented opportunity to showcase their research before the assembled speakers. Best Talk Awards are selected and issued to Ph.D. students from various universities: Mike Pavlin from Rotman, Walid Mnif from UWO, Kevin D. Ferreira from UofT, Michael Jong Kim from UofT, and Melissa Mielkie from UWO.
Though coverage of various forms of risk management such as market risk, credit risk and operational risk management was mostly technical, geared towards practising academia as well as PhD and graduate students, the conference saw keen attendance by senior undergraduate students organized by Anne Dranovski from UofT. The undergraduate Math Union also contributed an industry panel organized by Kate Klyueva (U Toronto), whose participants were Mark Coyle (RBC Investments), Joseph Paradi (CMTE), and Luis Seco, and a successful Networking dinner party held at the Hart House.
The diverse attendance was lauded by conference chairs, Luis Seco and Desheng Dash Wu, both of whom expressed a particular pride in the students for their efforts and their smarts.
The conference also served as grounds for the inaugural meeting of the Chinese Association of Postdocs and Scholars (CAOPS, Specifically in Management and Economics). The Coordinator, Desheng Dash Wu represents the CAOPS to sign a Letter of Understanding(LoU) with Heather Kelly, Director of Student Services, School of Graduate Studies, University of Toronto, who represents the University VP and Dean of School of Graduate Studies. The LoU outlines two main areas for future collaboration between UofT Postdoc office and CAOPS: talent exchange and academic exchange. Greeters at this inaugural meeting include Member of National Academy of Engineering Prof. John Birge from University of Chicago, Prof. David Olson, James and H.K. Stuart Chancellor’s Distinguished Chair, from University of Nebraska and Prof. Wei Zhang from Tianjin University in China. Donald B. Hathaway， President and CEO，Global Risk Institute in Financial Services gives congratulation words.
1 Fields Institute Director Edward Bierstone gives greeting words
2 Member of National Academy of Engineering, Uni. of Chicago Professor John Birge gives Keynote talk
3 UofT Math Depat. Acting chair James Colliandergives greeting words
4 Prof. John Hull issues Best Paper Award to Prof. Matt Davison from UWO
5 Prof. John Hull issues Best Paper Award to Prof. David Olson from Nebraska
6. Prof. John Hull gives Keynote talk
7. Prof. John Hull gives Keynote talk
8. Prof. Luis Seco monitor the risk forum
9. Prof. Matt Davison gives keynote talk
10. MP Stevens， Director, International Programs and Partnerships， Faculty of Arts and Science gives greeting words
11. USA representative Prof. David Olson gives greeting words
12. CAOPS coordinator Dash Wu, representing CAOPS to sign LoU with Heather Kelly, representing UofT Postdoc Office
13. CAOPS coordinator Dash Wu announces the establishment of CAOPS
14. Prof. John Birge gives congratulation words
15. Prof. Wei Zhang gives congratulation words
16. Prof. David Olson gives congratulation words
17. Prof. David Simchi-Levi gives keynote talk