Critical Issues of Information Management in Financial Services

Critical Issues of Information Management in Financial Services

In an era of change, professionals need to consider Information Management issues that are of critical importance. As professionals we need to evaluate recent developments in order to enhance our understanding of pivotal issues.

Attend the panel session and hear from executives below, what are the top critical issues that they are currently dealing within their organization.

Michael Nelson, VP Information Management – BMO Financial Group.

With 25 years service in a wide variety of roles within BMO Financial Group, Michael brings a broad and varied body of knowledge to his current role as Vice President, Information Management. His well-balanced background includes time spent in both technical and relationship management areas. He joined BMO in 1980 in the Operations and Systems organization and moved through the Operations area in progressively more senior roles.

Marie Limanni, VP Internal Audit & Corporate Security CIBC.

Marie joined CIBC in 2004 as Vice President, Internal Audit & Corporate Security – Technology, Operations and Projects. She began her career in 1985 with IBM where she held various positions, starting as an application developer and progressing to a Senior Consultant/Senior Project Manager by 1996. Later that year, Marie joined the Bank of Montreal (BMO) working in senior positions within Technology & Solutions, Processing Services and Banking Operations Canada until 2004. While at BMO, Marie managed application development for a number of businesses including Cardholder Services, Telephone Banking and mbanx (virtually banking). She also managed BMO�s relationship with Symcor, a back-office-processing joint venture involving Royal, TD and BMO.

Dorothy Russel, IRMAC member and independent consultant, will be our moderator among the Financial Services Vice Presidents.

Gartner, the research firm, publishes its �Predictics for 2005�. Here a few quotes that will provide a context for our discussion:

  • �Going forward, financial services firms will need service-oriented architectures and enterprise middleware to build more agile software applications. But they must also improve their underlying data and logic architectures.�
  • �Banks and other financial institutions must juggle the intersecting needs of finding new customers with exploiting the data hidden inside their systems to mitigate risks.�
  • �Banks must remove the barriers between their data initiatives to gain operational efficiency and respond more effectively to change.�
  • �In pursuing enterprise risk management and data consolidation, the aim is to accessunderstand and use the bank’s data for many business and regulatory purposes. Governance and reporting will improve in the process.�
  • �Investment firms will confront an increasingly complex marketplace in 2005 and beyond. Market and regulatory forces beyond their control present these companies with the urgent need to adapt or fall behind.�
  • �A rapidly changing compliance environment and urges investment firms to, finally, use IT internally or choose an outsourcing provider to manage their compliance processes.�
  • �Adoption of a service-oriented architecture is essential for investment firms to meet their future goals of flexibility, agility and robustness.�
  • �Insurers in 2005 also will marshal innovation and new technologies to achieve efficiencies, increase revenue and reduce risks…There will be ongoing funding for core systems and processes.”
  • “Fraud in insurance claims has become a staple in the news…Insurers are combating fraud by adopting technologies that help detect and analyze potential fraudulent events.�
  • �Insurers and other financial services firms require highly flexible knowledge and information management to respond to shifting markets…IT can support this flexibility, but needs service-oriented architecture and middleware to do the job.�

Meeting: Wednesday, November 16, 2005

8:30 a.m. Registration & Continental breakfast; 9:00 Start; Expected finish 11:30

No advance reservations are required.

Location: Join us at The Ontario Club, 5th Floor, Commerce Court South 30 Wellington Street West (Bay and Wellington), Toronto

Membership: Attendance is free for IRMAC members. A guest fee of $30 applies to non-members.


Nov 16 2005


8:30 am - 11:30 am


The Ontario Club, 5th Floor, Commerce Court South 30 Wellington Street West (Bay and Wellington), Toronto

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