PRMIA 2014 Information Package

PRMIA Risk Management Challenge
Chicago ∙ London ∙ Montreal ∙
New York ∙ Toronto ∙ Vancouver
Official Information Package
Sponsors
Table of Contents
1
2
3
Organizing PRMIA Chapters ..................................................................................... 3
Sponsors ...................................................................................................................... 4
Competition Framework ............................................................................................. 5
3.1 Competition Goals................................................................................................ 5
3.1.1
Vision & Objectives ...................................................................................... 5
3.1.2
Our Past Performance (2012)........................................................................ 5
3.1.3
Testimonials (2012) ...................................................................................... 6
3.1.4
Awards .......................................................................................................... 6
3.1.5
Fees ............................................................................................................... 6
3.1.6
Experiential Exchange .................................................................................. 7
3.1.7
Authenticity................................................................................................... 7
3.2 General Requirements .......................................................................................... 7
3.3 Competition Structure .......................................................................................... 7
3.3.1
Regional Finals and Global Finals ................................................................ 8
3.3.2
Final Round................................................................................................... 8
3.4 Competition Timeline .......................................................................................... 8
3.5 Competition Guidelines........................................................................................ 9
3.5.1
Case Preparation ........................................................................................... 9
3.5.2
Practicalities ................................................................................................ 10
3.6 Scorecards .......................................................................................................... 10
3.6.1
Regular Screening Criteria and Scorecard .................................................. 10
3.6.2
Regional and National/Global Finals .......................................................... 10
4 Final Round - Panel Discussion ................................................................................ 11
1 Organizing PRMIA Chapters
Thank you to the following chapters and their representatives for their generous support in our
effort to deliver a new learning experience for future financial services professionals and subjectmatter experts.
Chicago, IL, USA
Timur Gok, DePaul University
London, UNITED KINGDOM
Robert McWilliam, ING Bank ∙ Alexandru Voicu, PRMIA London Chapter ∙ Karen
Myers, TD Securities
Montreal, QC, CANADA
Ron Cheshire, Triasima ∙ Jean-Philippe Tarte, HEC Montreal
New York, NY, USA
Dan Rodriguez, Credit Suisse ∙ Navin Sharma, BlackRock
Toronto, ON, CANADA
Graham Pugh, OMERS ∙ Mihaela Capra, TD Bank Group ∙ Greg Frank, GRI ∙ Kruno
Perkovic, Synchrony ∙ Andrea Yu, Accenture ∙ Justin Lau, TD Securities ∙ Oleksandr
Romanko, IBM ∙ Mario El-Khoury, Deloitte ∙ Christian Maxwell, Western University ∙
Grace Coyle, RBC ∙ Nick Jago, OTPP ∙ Yannick Lefang, TD Bank Group ∙ Isabel
Dimitrov, Ryerson University
Vancouver, BC, CANADA
Carlos da Costa, Simon Fraser University
3
2 Sponsors
Local Premium Sponsors
Final Round Venue Sponsor
Knowledge Sponsor
4
3 Competition Framework
3.1 Competition Goals
The PRMIA Risk Management Challenge (PRMC) provides undergraduate and graduate students
from multiple disciplines the opportunity to solve realistic business problems with a risk
management focus. Ultimately, the PRMC aims to develop and strengthen professional and
social relationships across students, faculty, and risk professionals. The competition is open to
students in the UK, US and Canada.
3.1.1 Vision & Objectives
To promote thought leadership and career development for graduate and undergraduate
students globally through an international competition. As such, objectives are to:






Promote the financial services sector on national and international levels through an
international case competition hosted in Toronto, Ontario, Canada in 2014.
Develop analytical and decision-making skills of future leaders from universities across
Canada, US, and UK.
Identify top talent amongst competitors for potential employment opportunities.
Create networking opportunities for students interested in pursuing risk careers.
Promote understanding of both hard and soft skills required to work in both IT and
Enterprise functional areas.
Promote the strategic importance of Risk Management by aligning analysis to strategic
direction.
3.1.2 Our Past Performance (2012)





Industry leaders from banking, investment management, credit ratings, and consulting
formed one judging panel in 2012, featuring TD Bank Group, Moody’s, CIBC, AIMA,
Capco, Deloitte, and DBRS.
14% of 22 competitors were recruited at TD and Deloitte in 2012.
Forty-eight competitors participated from across ten colleges and/or universities.
88% of surveyed participants (i.e. students, judges and spectators) gave an overall rating
of 80%.
97% of surveyed participants would recommend, attend, or compete in another case
competition in 2013-2014.
5
3.1.3 Testimonials (2012)
Gary Zhang, Sr. Treasury Analyst, Treasury and Balance Sheet Management, TD Bank Group
School: University of Toronto, Master of Mathematical Finance 12’
“Well organized Staff maintained a timely and detailed communication with the competing
teams.”
“Well prepared case. The case was sophisticated enough for participants to think and try by all
means while being doable for undergraduate/graduate levels.”
James Killoran, Risk Analyst, Enterprise Risk Management, TD Bank Group
School: University of Ottawa, Bachelor of Commerce 12’
“The PRMIA Case Competition allowed me to put my theoretical knowledge into practice. The
competition also provided networking opportunities with industry professionals which helped
guide me to my current role in Risk Management. I would highly recommend participation in this
competition.”
Nick Jago, Investment Analyst, Asset Mix and Risk, Ontario Teachers’ Pension Plan
School: McMaster University, Master of Mathematical Finance 12’
“The PRMIA risk management case competition was a truly invaluable experience, from
beginning to end. The opportunity to present in front of industry professionals is an important
experience that truly prepares you for the real world. I strongly encourage all students looking to
get a job in risk or investments to compete!”
Grace Coyle, Risk Analyst, Risk Methodologies, Royal Bank of Canada
School: McMaster University, Master of Mathematical Finance 12’
“The case competition last year gave me the opportunity to apply what I learned in university to
a case that has its roots in the real-world. Through the competition, I was able to meet other
professionals and students who are passionate about risk, and I was introduced to various other
resources, including PRMIA, that were very helpful to me in pursuing a career in risk
management. Participating in the risk management case competition was a fun, challenging,
and overall beneficial experience. I would highly recommend it to anyone who is interested in the
field!”
3.1.4 Awards

The winning team could win a cash pool valued at USD $10,000; this award will be
pooled from registration fees and is subject to US tax laws.
3.1.5 Fees

$100 per team of 3-4 students. Each team member registers individually online and
submits her/his registration fee. There are no restrictions to the number of teams from
any academic institution.
6
3.1.6 Experiential Exchange
The PRMC aspires to encourage new ideas and practices across universities and industries by
exchanging ideas at both student and professional levels.
3.1.7 Authenticity
This year, two case studies will be provided by the Kellogg School of Management and PRMIA to
simulate up-to-date and real-life risk management challenges in order to offer participants
practical experiences in financial services and management consulting.
3.2 General Requirements
Students must be enrolled in an undergraduate or graduate-level college or university. Although
there are no restrictions to level of coursework required to participate, students are encouraged
to have prepared themselves from across any of the following areas of study – finance,
economics, mathematics, business or commerce, accounting, marketing, etc.
3.3 Competition Structure
Industry professionals design risk management cases for the PRMC by incorporating relevant
business problems, with the aim of giving participants the opportunity to experience the
challenges they may face as risk professionals and/or consultants. Teams are evaluated on their
approach to their cases and, if successful, are chosen to enter the regional and national finals.
The following flow-chart outlines the structure of the PRMC:
Global Finals
7
3.3.1 Regional Finals and Global Finals
The regional round is organized by each participating chapter. The following steps outline open
registration, regional screening, regional finals, and global finals:
1)
2)
3)
4)
5)
Students submit their registration of 3-4 member teams, along with their CVs.
The first case study is sent to all participating teams during the regional round.
The teams have 72 hours to analyze the case and submit a two-page written proposal.
Submitted proposals are screened using a base set of criteria (see section 3.6.1).
*Ten teams are short-listed into the regional round for each hosting chapter, from which
one or two teams are selected into the final round. This year, the final round is hosted at the
Ontario and Investment Trade Centre in Toronto, Ontario, Canada (web link).
6) Within each region, the eight finalists present their proposals to a panel of judges.
7) Teams will have another 72 hours to prepare for the competition national/global finals.
8) The judges determine one winner and two runners-up.
3.3.2 Final Round
1) *Regional Finalists fly to the host city to compete against each other in a final round.
2) **The finalists are given a new case study via email and have three days to prepare a
presentation outlining their approach to solving the case.
3) The finalists present to both an audience and a panel of judges. One winning team is chosen.
4) Following the presentations, finalists and industry professionals participate in an informal
networking session, hosted by an executive panel of financial services practitioners. They
will discuss about challenges currently faced in the financial services sector and career
development opportunities in consulting, finance, and risk management.
* Expenses toward travel and accommodations are not covered by PRMIA
** Finalists are not required to arrive in Toronto three days prior to their presentation.
Preparation can be remotely.
3.4 Competition Timeline
Milestone
Registration Opens Online
Application, resume and ethics forms due
Case dissemination via email
Electronic submission due
Regional finalists revealed via email
Regional competition
Regional Champions announced
Finals (Regional Champions to Compete)
Date
Week of October
14, 2013
December 27,
2013
January 3, 2014
January 10, 2014
January 17, 2014
January 20 –
February 7, 2014
February 10,
2014
February 28,
2014
Location
Online
Online
Online
Online
Online
TBD
Online
Ontario Investment
& Trade Centre
8
3.5 Competition Guidelines
The PRMC is based on a system of honor whereby participants are expected to use their
common sense in making this a fair competition. Strict adherence to the rules is therefore
required. If clarification is required on an issue, the Case Competition Officials will be made
available for consultation. Any doubts or disputes will ultimately be cleared with all PRMIA
Chapters that are designated as “Competition Host”, which have authority in all matters related
to the rules and the competition.
3.5.1 Case Preparation

Each team prepares and presents one solution during the competition according to the
case study given. For the preliminary round, each team prepares a two-page outline of
their approach to solving the case. For the final rounds, applicable to both regional and
global levels, teams must produce a PowerPoint presentation and a one-page executive
summary. Presentations will take no longer than 15 minutes; items presented after 15
minutes will not be considered on the team's scorecard.

Each presentation session in the final round will consist of a 15-minute presentation and
a 15-minute Q&A session. The teams will be notified when five minutes and one minute
remains of their presentation time.

The teams have 64 hours to prepare for the preliminary round, 56 hours to prepare for
the regional finals, and 72 hours to prepare for the national finals. Teams are to submit
a copy of their presentations and summaries to the case competition co-ordinators on
the day of their scheduled presentation either via USB stick or email.

Each team is allowed to use an unlimited number of textbooks and reference materials.
Reference materials are defined as any form of notes, compendiums/readers,
collections of articles, and the like.

Presentations must be made in English using Microsoft PowerPoint. The teams may use
during the presentations.

All finalists will present the same topic but questions will be geared toward the finalists’
approaches.

All teams are not allowed to watch any of the other teams' presentations preceding
their own.

All materials produced during the PRMC are the rightful property of PRMIA.

Participants are allowed to interact with the professors or industry professionals outside
of their presentations and are encouraged to seek guidance only when needed.
9

All teams must comply with the above guidelines.
3.5.2 Practicalities

Participants can bring their personal laptops.

The teams are allowed to use all available Internet resources outside of their
presentations.

The PRMIA competition co-ordinators will assist the teams with all computer-related
issues in the presentation room, but Teams will not be given more time for case
preparation in the event of technical problems with the PCs.

All teams are responsible for their own transportation and hospitality.

All teams are invited to attend the final round for professional networking and
refreshments.
3.6 Scorecards
3.6.1 Regular Screening Criteria and Scorecard
Criteria
Structure,
development and
consistency
Arguments and
Resolution
Originality and
Professionalism
Total
Description
Organization, flow and coherence of ideas within the
written report
Score
/3
Understanding the mandate and end-goal, identifying the
problem, accuracy of information, quantity and quality of
arguments, depth of analysis and pertinence of the
conclusion
/5
Consideration of ethics in development of ideas
Level of innovation, audacity and professionalism in making
recommendations and proposing solutions
/2
/10
3.6.2 Regional and National/Global Finals
Criteria
Written Report
Structure,
development and
Description
Score
Organization, flow and coherence of ideas within the
written report
/3
10
Criteria
consistency
Arguments and
Resolution
Originality and
Professionalism
Presentation
Quality of
Presentation and
Summary
Ability to Respond to
Questions
Total
Description
Score
Understanding the mandate and end goal, identifying the
problem, accuracy of information, quantity and quality of
arguments, depth of analysis and pertinence of the
conclusion
/5
Consideration of ethics in development of ideas
Level of innovation, audacity and professionalism in making
recommendations and proposing solutions
/2
Evaluation of visual aids
/5
Level of effective communication. Depth of grammar and
vocabulary used
Think spontaneously and respond effectively.
/5
/20
4 Final Round - Panel Discussion
During the finale of the competition held on February 28, 2014, industry leaders will share their
perspectives on challenges faced in the financial services industry and on forward-looking remarks
pertinent to career development.

Christopher Thompson, Managing Director, Accenture
Risk Management Practice (North America)

Graham Pugh, Vice-President, OMERS
Investment Risk Management

Keith McQueen, Senior Vice-President, TD Bank Group
Capital Markets Risk Management

Kelly Hastings, Chief Risk Officer & Vice-President, CIBC Mellon
Enterprise Risk Management
Other Panelists to be named
11