Projects and Clients - AMAA Limited
A. Michael Andrews
Specialists in Financial Sector Policy, Strategy, Regulation and Supervision
and Associates Limited
Title
- External Accountability Review—2023-2024—assessed compliance with the Basel Core Principles for Effective Banking Supervision and the International Association of Deposit Insurers Core Principles for Effective Deposit Insurance Systems, reviewed and reported on fulfilment of public policy objects and mandate, for the Saskatchewan Credit Union Deposit Insurance Corporation.
- Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision—2023—assessed implementation using the Basel Core Principles methodology and provided recommendations to enhance implementation, for the Deposit Guarantee Corporation of Manitoba.
- Course on Financial Soundness Indicators—2023—prepared and delivered lecture material and facilitated group assignments covering the current practices and changes introduced in the 2019 version of the Financial Soundness Indicators Compilation Guide, for the International Monetary Fund Joint Vienna Institute.
- Financial Soundness Indicators online course—2022-2023—developed all course content including pre- and post-course quizzes, interactive exercises, evaluation questions, multimedia presentations, video scripts, and recorded videos for two of five modules, for the International Monetary Fund.
- Banking Analysis Course—2022—developed and delivered virtually for the IMF Institute a custom bank-analysis and financial soundness indicators course for International Monetary Fund staff.
- Review of the Adequacy of the Guarantee Fund—2022—reviewed the range of approaches used in practice and international standards relevant to determining the adequacy of the guarantee fund, reviewed loss experience in other jurisdictions, and made recommendations for the size of the fund, for the Deposit Guarantee Corporation of Manitoba.
- Course on Financial Soundness Indicators—2022—virtually delivered lecture material and facilitated participant exercises covering the current practices and changes introduced in the 2019 version of the Financial Soundness Indicators Compilation Guide, for the International Monetary Fund Statistics Department.
- Course on Financial Soundness Indicators—2021—virtually delivered lecture material and facilitated participant exercises covering the current practices and changes introduced in the 2019 version of the Financial Soundness Indicators Compilation Guide, for the International Monetary Fund Statistics Department.
- Compiling Financial Soundness Indicators—2021—technical assistance mission (virtual) to Nepal to support compilation of the Financial Soundness Indicators for the Other Financial Corporations sector in line with the revised 2019 compilation guide, for the International Monetary Fund Statistics Department.
- Banking Analysis—2021—developed and delivered virtually for the IMF Institute a custom bank-analysis and financial soundness indicators course for International Monetary Fund staff.
- Compiling Financial Soundness Indicators—2021—technical assistance mission (virtual) to Cabo Verde to support compilation of the core Financial Soundness Indicators in line with the revised 2019 compilation guide, for the International Monetary Fund Statistics Department.
- Regional training on conducting a Basel Core Principles Self-Assessment—2021—delivered a virtual program including regionally relevant hands-on exercises, for officials of eight East African central banks, for the East Africa Regional Technical Assistance Center.
- Supporting Basel II and III Implementation—2021—delivered a virtual program including custom practical exercises for officials of the Reserve Bank of Malawi, for the East Africa Regional Technical Assistance Center.
- Evaluating Corporate Governance and Key Oversight Functions—2021—delivered a virtual program including custom practical exercise, for supervisory staff of the National Bank of Ethiopia.
- Course on Financial Soundness Indicators—2021—prepared and virtually delivered lecture material and facilitated participant exercises covering the current practices and changes introduced in the 2019 version of the Financial Soundness Indicators Compilation Guide, for the Singapore Regional Training Institute.
- Mid-Term Evaluation of the Pacific Financial Technical Assistance Center—2019-2021—associated with lead consulting firm Universalia to provide technical expertise for the evaluation of individual programs and the Centre overall, taking into account the OECD-Development Assistance Committee evaluation criteria.
- Expert Witness, Fairstone Financial Holdings Inc. v. Duo Bank of Canada—2020—retained by counsel for the applicants to provide three reports and testimony before the Ontario Superior Court of Justice (Commercial List) relating to the determination of disproportionate impact in the context of a material adverse effect covenant, with the Court preferring the evidence provided over that of the expert tendered by the respondents.
- Independent Liquidity Review—2019—reviewed liquidity management, modeling, and contingency planning, providing recommendations on enhanced stress-testing for greater robustness, for a mid-sized Canadian financial institution.
- Merger Review—2019—review of the proposed amalgamation agreement between two regulated financial institutions, including the business case, proposed governance structure and risk management framework, financial and prudential ratio projections; completed sensitively analysis; identified potential supervisory concerns and recommended mitigation measures; confidentiality provisions preclude disclosure of the supervisory authority or identity of the two institutions.
- Impact Analysis of Restructuring Options—2019—preparation of cost benefit analysis including impact on cost and capacity to deliver major product lines and services, capital and liquidity requirements of three alternatives, presentation of findings and recommendations to a Board committee, for a mid-sized Canadian financial institution.
- External Accountability Review—2018-2019—assessed compliance with the Basel Core Principles for Effective Banking Supervision and the International Association of Deposit Insurers Core Principles for Effective Deposit Insurance Systems, reviewed and reported on fulfilment of public policy objects and mandate, for the Saskatchewan Credit Union Deposit Insurance Corporation.
- Implementing critical reforms—2018-2019—reviewed work currently underway to enhance implementation of the Basel Core Principles for Effective Banking Supervision, identified gaps, and recommended course corrections and additional actions, for the Central Bank of the United Arab Emirates.
- Assessing liquidity risk management, treasury operations and capital planning and management of selected financial institutions—2018—prepared targeted supervision plans, team leader for off-site preparation and completion of on-site examinations, prepared examination reports, presented findings and completed risk matrices, confidentiality provisions preclude disclosure of the supervisory authority or identity of the institutions.
- Contributing to the Bangladesh country partnership strategy—2018—reviewed developments in the financial sector since 2008, identified gaps and options for reforms aligned with government’s five year plans, prepared background text, analysis and recommendations, for the Asian Development Bank.
- Promoting Green Local Currency Bonds for Infrastructure Finance in the ASEAN+3 Countries—2017-2018—team leader for the review of the state of green bond markets, identifying challenges and recommending policy measures to promote local currency green bonds in the ASEAN+3 countries, for the Asian Development Bank TA 9294 (REG).
- Assessing liquidity risk management, treasury operations and capital planning and management of selected financial institutions—2017—prepared targeted supervision plans, conducted off-site preparation, completed on-site examinations, prepared examination reports, presented findings and completed risk matrices, confidentiality provisions preclude disclosure of the supervisory authority or identity of the institutions.
- Evaluating Phase II of the Financial Sector Reform and Strengthening Initiatives (FIRST)—2016-2017—associated with lead consulting firm Universalia to provide financial sector expertise for the evaluation of 47 completed projects administered by the World Bank or IMF under the FIRST Trust Fund, and the overall performance of FIRST, taking into account the OECD-Development Assistance Committee evaluation criteria.
- Review of approaches to providing regulatory authorities with the power to issue binding standards—2016—researched six Canadian and three international jurisdictions, prepared summaries of key features and approaches in all jurisdictions, identified strengths and weaknesses, and prepared draft and final reports recommending appropriate models, for the British Columbia Financial Institutions Commission.
- Assessing liquidity risk management of a domestic systemically important financial institution—2016—prepared a targeted supervision plan, conducted off-site preparation, completed on-site examination, prepared examination report, presented findings and completed risk matrix, confidentiality provisions preclude disclosure of the supervisory authority or institution.
- Suite of regulations project—2014-2018—preparation of a package of regulations and related supervisory guidance to modernize and bring prudential standards in line with evolving international practices, for the Central Bank of the United Arab Emirates.
- Credit union capital options—2014-2015—prepared a report outlining options for Saskatchewan credit unions taking into account the Basel III capital adequacy regime, for Credit Union Central of Saskatchewan.
- Survey of Cooperative Capital—2014-2015—lead researcher for a Filene Research Institute-International Cooperative Alliance project, including compilation of a financial structure database for the Global 300 cooperatives, analysis of capital structures, review of prior research, preparation of draft and final reports, and presentation of findings at the 2014 International Summit of Cooperatives.
- Using Local Currency Bonds for Infrastructure Finance in the ASEAN Countries—2014-2015—team leader for the review of bond issuance for infrastructure finance in ASEAN countries and other relevant markets, identifying feasible financing schemes, potential barriers to their use and recommending measures to further develop financing schemes and debt instruments, and to promote the demand for such debt instruments, for the Asian Development Bank TA 8510 (REG).
- System Outlook, Contingency Planning and Capital Adequacy Regimes—2014—Briefing of the Board of Directors, for the New Brunswick Credit Union Deposit Insurance Corporation.
- Preparing the financial sector development program for Lesotho—2013-2014—preparation of the Financial Sector Development Strategy, building on the National Strategic Development Plan. Overall project management, preparing final report, and specific technical responsibility for banking; regulation and supervision; and safety net including deposit insurance and lender of last resort; and contingency planning for crisis management, for the World Bank—FIRST Initiative Trust Fund.
- Credit Union Capital Adequacy—2013-2014—prepared a research paper on credit union capital adequacy in light of Basel III, providing recommendations for policy-makers in the United States and Canada, for the Filene Research Institute.
- Assessing Composite Risk Ratings—2013—review of the supervision of credit unions by the Financial Institutions Commission, for the Auditor General of British Columbia.
- Review of Regulatory and Supervisory Oversight of Liquidity Risk—2013—reviewed the current approach to liquidity management in the British Columbia and Canadian credit union system, identifying roles and responsibilities and recommended policies, processes and practices to strengthen risk management and the concomitant supervisory oversight, for the British Columbia Financial Institutions Commission.
- Financial Regulatory Reforms in Asia—2012-2013—researched and wrote issues papers on macroprudential issues including deposit insurance systems, resolution frameworks for financial institutions, and changing international standards for sound financial systems; delivered draft papers at interim seminar, for the Asian Development Bank TA-7864 (REG).
- Report on future scenarios, issues and options for the credit union and caisse populaire sector in Ontario—2012—for the Deposit Insurance Corporation of Ontario.
- Transitioning to an industry standard capital adequacy requirement—2012—position paper outlining the elements of a common capital adequacy standard for Canadian credit unions and transition path, taking into account the Basel III capital framework and its application to cooperatives, for the Credit Union Prudential Supervisors Association.
- Preparing the financial sector development program for Rwanda—2012—preparation of the second financial sector development program. Overall project management, preparing final report, and specific technical responsibility for banking; regulation and supervision; and safety net including deposit insurance and lender of last resort; and contingency planning for crisis management, for the World Bank—FIRST Initiative Trust Fund.
- Expanding the Investor Base for Local Currency Bonds in the ASEAN Countries, China and Korea—2011-2012—team leader for the review of bond market development and preparation of country reports and cross-cutting analysis and recommendations to expand the investor base, for the Asian Development Bank TA-7690(REG).
- Establishing and Achieving Deposit Protection Fund Target Levels—2011—update and revision of the original 2009 review of factors influencing target fund size, quantitative and judgmental approaches and shortcomings in statistical modeling, with the addition of recent developments and the international trend towards higher fund targets following the global financial turmoil, for the Saskatchewan Credit Union Deposit Guarantee Corporation.
- Assessment of compliance with the Basel Committee on Banking Supervision and International Association of Deposit Insurers Core Principles for Effective Deposit Insurance Systems—2011—for the Saskatchewan Credit Union Deposit Guarantee Corporation.
- Capital Markets Development Program—2011—assessing the current regulatory framework and structure of the capital markets in Bangladesh, analyzing the recent stock market volatility and recommending measures to strengthen the regulatory framework and supervisory oversight of key market participants, for the Asian Development Bank RSC-C12909 (BAN).
- Technical Training and Capacity Building—2011—developed and delivered two offerings of a one-week training program on the macro-prudential framework, financial stability and crisis management, for central bank and ministry of finance officials of selected Asian countries, for the Asian Development Bank TA-7497(REG).
- Preparing the financial sector development strategy for Botswana—2011—responsibility for banking sector issues including regulation and supervision, access to finance and financial sector outreach; safety net including deposit insurance and lender of last resort; and contingency planning for crisis management, for the World Bank—FIRST Initiative Trust Fund.
- Transitioning to Harmonized Capital Standards—2011—compared current credit union capital adequacy standards to the current federal capital guideline and expected changes arising from the implementation of Basel III, and recommended a common capital adequacy standard for Canadian credit unions and transition path, for the Credit Union Stabilization Funds of Canada.
- Reviewing Licensing Regulations for New Entities—2010-2011—advising on the preparation of regulations pursuant to the newly enacted Law on Credit Institutions, preparation of review procedures for license applications, and delivery of custom training for staff of the Bank Supervision Agency, State Bank of Vietnam, for the Asian Development Bank TA-7464 (VIE).
- Advising the Icelandic Ministry of Economic Affairs—2010—contributed to the work of the Financial Stability Committee in recovering from the banking crisis.
- Financial Sector Learning Seminar—2010—Prepared and delivered a training program for financial sector specialists to enhance understanding of the resolution options for troubled financial institutions, special issues related to state-owned financial institutions, and management of financial crises, for the Asian Development Bank.
- Assessing the Practice of Bank Supervision and Financial Stability Analysis—2009—benchmarked current approaches against the Basel Core Principles for Effective Banking Supervision and leading jurisdictions, and recommended an action plan incorporating training and process improvements, for the Central Bank of Bahrain.
- Strategic Planning—2009—prepared environmental scan, presented and facilitated discussion at the Board of Directors planning session, for the Deposit Insurance Corporation of Ontario.
- Financial Sector Learning Seminar—2009—Prepared and delivered a training program for financial sector specialists to enhance the understanding of the international architecture for financial sector oversight, best practices in prudential and market conduct standards, and recent developments and response to the global financial market turmoil, for the Asian Development Bank.
- Opportunities and Outlook for Ontario Credit Unions—2009—presentation to the Central 1 spring conference.
- Financial Sector in South Asia: Recent Developments and Challenges—2009—lead author of the fourth edition of the South Asia Economic Report—for the Asian Development Bank.
- Financial Sector Regulatory Reform—2009—prepared an issues paper summarizing the regulatory reform proposals in major jurisdictions and international forums, and assessing the likely impact on Canadian institutions and markets—for the Certified General Accountants Association.
- Capital Adequacy Comparisons—2009—compared all provincial credit union capital adequacy requirements with the Office of the Superintendent of Financial Institutions capital adequacy requirements, identifying potential issues in adopting a federal credit union charter—for Credit Union Central of Canada.
- Establishing and Achieving Deposit Protection Fund Target Levels—2009—reviewed international experience, factors influencing target fund size, quantitative and judgmental approaches, shortcomings in statistical modeling, for the Saskatchewan Credit Union Deposit Guarantee Corporation.
- Liquidity Management in the Canadian Credit Union System—2008-2009—reviewed the current structure and approach to liquidity risk management, conducted scenario analysis to assess the resiliency to liquidity shocks and risks of intra-provincial contagion, for the Credit Union Stabilization Funds of Canada.
- Federal Government Expert Panel on Securities Regulation—2008—consulting support to synthesize commissioned research reports and other background materials, stakeholder submissions and input from public consultation round-tables to prepare interim, draft and final reports recommending a new framework for oversight of Canadian capital markets, for the Department of Finance.
- Program for the Reform of Deposit Insurance in Uganda—2008-2010—provided policy analysis, recommendations and drafting advice for new and revised legislation and regulations to establish a new deposit insurance fund for microfinance institutions, reform the existing deposit insurance fund for banks, and in the longer term to establish a single deposit insurance agency serving all deposit-taking institutions, for KfW Entwicklungsbank.
- Meeting the New and Revised Requirements of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act—2008—prepared a guidance note and practical implementation measures for members of the Investment Funds Institute of Canada.
- Rural Financial Institutions Project Completion Report—2007—evaluated the project design, implementation and impact of the Asian Development Bank’s Kyrgyz Republic loan project to support the development of a network of sustainable rural financial institutions.
- Strengthening Ontario Communities: The Contribution of Credit Unions and Caisses Populaires to Economic and Social Development in Ontario—2007—update and revision of the 2004 report documenting the role played by cooperative financial institutions, for Credit Union Central of Ontario.
- Options for Credit Union Insurance Coverage and Administration of the Bonding Program—2007—reviewed the current approach and recommended alternatives for financial institution bond insurance, for the Credit Union Deposit Guarantee Corporations of Alberta, Manitoba and Saskatchewan.
- Conducting a Self-Assessment of Compliance with the Basel Core Principles for Effective Banking Supervision—October 2007—workshop for the Asociación de Supervisores Bancarios de las Américas and the International Monetary Fund.
- Uzbekistan Financial Sector Infrastructure Development—2006-2007— prepared Microfinance Diagnostic Report, Banking Sector Diagnostic Report, and Financial Sector Development Strategy for the Asian Development Bank TA-4565 (UZB).
- Banking Sector and Capital Market Development—2006-2007—assisted the National Bank of the Kyrgyz Republic with drafting and implementing prudential guidelines for market and operational risk, developing effective relationships with home country supervisors, and custom training for National Bank and commercial bank staff in market and operational risk, for the Asian Development Bank TA-4747 (KGZ).
- Conducting a Self-Assessment of Compliance with the Basel Core Principles for Effective Banking Supervision—August 2006—workshop for the Asociación de Supervisores Bancarios de las Américas and the International Monetary Fund.
- Strategic Planning Facilitation—June 2006—provided environmental scan presentation and facilitated strategic planning for the Financial Services Commission of Ontario.
- Savings and Credit Union Development and Supervision—2005-2006—Multi-country research project Don’t Drown the Seedlings: Lessons for Savings and Credit Union Development from the Experience in East and Central Asia for the Asian Development Bank RSC-C51558 (REG).
- Capital Adequacy Comparisons—2005—assisted Credit Union Central of Ontario in preparing submissions to the Government in support of revisions to the Credit Unions and Caisses Populaires Regulations.
- Kyrgyz Republic: Second Phase of the Financial Sector Reform Program—2005—assisted with research, development of the policy matrix and loan negotiation for the Asian Development Bank TA-4069 (KGZ).
- Sri Lanka Financial Sector Assessment—2004—prepared banking sector assessment for the Asian Development Bank TA-C40331 (SRI).
- Credit Union Capital Adequacy and Basel II—2004—assisted credit unions and provincial regulatory authorities understand the implications of the revisions to the Basel Capital Accord, for Credit Union Central of Canada.
- Strengthening Ontario Communities: The Contribution of Credit Unions and Caisses Populaires to Economic and Social Development in Ontario—2004—prepared quantitative analysis and case studies documenting the role played by cooperative financial institutions in the province of Ontario, for Credit Union Central of Ontario.
- Reviewing the Lender of Last Resort Agreement and International Benchmarking—2003-2004—assisted in a review of the deposit guarantee function and standby liquidity arrangements for the Saskatchewan Credit Union Deposit Guarantee Corporation.