CDIC appoints Executive Vice-President, Insurance and Risk and Chief Risk Officer
OTTAWA, Dec. 06, 2018 (GLOBE NEWSWIRE) — The Canada Deposit Insurance Corporation (CDIC) is pleased to appoint Dean Cosman as Executive Vice-President, Insurance and Risk and Chief Risk Officer.
This new position broadens Mr. Cosman’s current responsibilities of risk assessment and insurance to reflect the Corporation’s intensified focus on enterprise risk management. The new role will also leverage Mr. Cosman’s international experience to deepen CDIC’s global leadership in deposit insurance and resolution through membership in the International Association of Deposit Insurers (IADI).
“Dean is a respected leader with a keen understanding of the financial sector, and we are delighted he has agreed to take on these important new responsibilities,” said CDIC President and CEO, Peter Routledge.
Mr. Cosman, who first joined CDIC in 1995, has more than 20 years of experience with Crown corporations, most recently as CDIC’s Senior Vice President, Insurance and Risk Assessment. He was recently appointed to IADI’s Executive Council and as Chair of IADI’s Regional Committee of North America.
CDIC is a federal Crown corporation established in 1967 to protect the savings of Canadians, and we contribute to financial stability by safeguarding over $792 billion in deposits at more than 80 member institutions. As resolution authority, we are responsible for handling the failure of any of our members, from the smallest to the largest. Our members include banks, federally regulated credit unions as well as loan and trust companies and associations governed by the Cooperative Credit Associations Act that take deposits. We are funded by premiums paid by member institutions and do not receive public funds to operate. We have dealt with 43 member failures affecting some two million Canadians. No one has lost a dollar of deposits under CDIC protection.
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