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Augustin Herrera-Morales

​Enterprise Risk Management

Augustin has over 10 years experience working with leading Canadian banks and has specialized audit expertise of Risk Governance, Enterprise Risk Management and Regulatory Compliance. Augustin is bi-lingual in English and Spanish.

Expertise:

. Capital Markets Risk Management
. Internal Audit
. Enterprise Governance, Strategy & Risk Management
. ICAAP
. CCAR
. Committee Oversight
, Recovery and Resolution Planning
. Enterprise Wide Stress Testing and RDARR

PROFESSIONAL EXPERIENCE

Royal Bank of Canada (RBC)
  • Director, Internal Audit - Enterprise Risk 
Scotiabank
  • Senior Manager, GRM - Retail Regulatory Compliance, Corporate Governance and Risk Management 2012 to 2015                                                   
  • Manager, Capital Management/Finance Division - Basel II Implementation  2010 to 2012
  • Audit Manager, ScotiaCapital / Market Risk - Regulatory Compliance & Economical Capital 2009 to 2010        
  • Audit Manager, Credit Risk - Credit Transactional Audits, Basel II and OSFI   2007 to 2009
Q1 Capital Corporation
  • Analyst - Investment Banking, Venture Capital,  M&A’s 2006 to 2007
 
Selected Achievements:
Enterprise Risk Audit Approach in Royal Bank of Canada (RBC)
  • Main contributor in the USA – RBC Holding Company Operational Risk Management audit, evaluating the alignment of operational risk initiatives with the enterprise policies and frameworks. Assessment of risk governance structure within the organization and risk appetite estimation
  • Drafted, proposed and exposed a collection of audit approaches presented to OSFI as new audit plan, namely Risk Governance, Risk Function review, Risk Appetite Framework assessment, Strategic Planning, etc. This was the base to develop the whole audit plan for the 2015 and 2016 audits related to Enterprise Risk Management
  • Active participation in the first Risk Function audit in RBC in 2015, evaluating topics like technology management processes and regulatory affairs management impacting the function. This audit was the first in this type in RBC
  • Leading the Catastrophic Risk Audit (as part of the new Operational Risk approach in the Bank) based on regulatory sound catastrophic risk management principles. First time a regulatory audit of this type performed within the Operational Risk plan. Integral part of the Enterprise Risk Management Program, as recommended by regulators
  • Participation in the regulatory Risk Data Aggregation & Risk Reporting audit in 2016 as adviser
 
Regulatory Compliance & Data Governance in Bank of Nova Scotia (“BNS”)
  • Organized and managed some OSFI regulatory initiatives regarding Risk Data Aggregation (RDARR) for the BNS Retail Portfolios, e.g. MIS (Management Risk System)
  • Active risk assessment in the implementation of new Enterprise-wide Credit Risk reports as part of the required MIS Risk reporting standards and other Risk Data Aggregation initiatives;
  • Managed and monitored effectively the full automation of the full retail portfolio of the New Credit Reporting (NCR) and BH (standardized) projects, performing decisive tests for parallel runs until final production of reports was completed;
  • Complete assessment, verification and monitoring of issues derived from OSFI recommendations, specifically the Real Estate Underwriting Policy for BNS and Tangerine Bank, Real Estate Secured Lending Review, Indirect Automotive Lending, and Retail Risk Governance among others.
  • Assessing, tracking, monitoring and reporting all retail risk regulatory recommendations, either by internal audit or OSFI in BNS.
 
Credit Risk
  • Stress testing analysis and reporting as part of the Basel I and Scotiabank Enterprise
  • Estimation of regulatory capital and Capital Adequacy Reporting.
  • Data mining for regulatory capital reporting on a quarterly basis
  • Spearheaded the technical design and application of substantive testing in Basel II related audits, primarily dedicated to audit Corporate, Commercial, and Retail credit models currently used by BNS.
  • Designed and developed templates that facilitate the connection between audit procedures and Basel/ OSFI regulations. Gap-closing issues related to regulatory compliance.
  • Active participation in all audit procedures related to Regulatory and Economic Capital Estimation (Retail and Non-Retail Scotiabank Books) as part of Scotiabank ICAAP.
  • Reproduction of validation tests like discriminatory power, calibration, data integrity, benchmarking and option pricing. Experience in model validation processes.
  • Led audit testing of non-retail credit portfolio modelling and Retail parameters models.
  • Initiate and facilitated meetings with senior officials in Global Risk Management and Scotia Capital, discussing the implementation of the corresponding audits steps mentioned above.
  • Active participation in credit transactional audits including corporate and commercial accounts covering a large portion of Scotiabank portfolio.
 
Market Risk
  • Contribution to Global Exchange Audits, focused on  valuation adjustment for FX Options:
    • Determine the impact in valuation from using flat volatility surface against using skewed volatility surface.
    • Option pricing using Garman & Kohlhagen approach.
    • Contribution to Global ScotiaMocatta audit on the valuation of metal based Barrier, Asian and European options.
  • Analysis of results and assessment of significance in gaps found in the reconciliation and comparison with auditee results
  • Participation in Value at Risk Audit in 2009, helping in the collection of random manual selected monthly/quarterly positions from different sources and review position reconciliation for completeness and accuracy
EDUCATION

MBA - Schulich School of Business, York University, Canada 2007
Diploma in Financial Engineering - Schulich School of Business, York University, Canada 2007                                                                                          
MSc. in Electrical Engineering - Centre for Research and Advanced Studies,  Mexico 1997                                                                                                       BSc Hon. in Physics - Benemerita Universidad Autonoma de Puebla, Mexico 1994
Commercial Banker Development Program - Bank of Nova Scotia 2008                                                                                                                                                                              ​
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      • Basel III
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    • Andrea Aimi
    • Wadih Antoun
    • Kapil Arya
    • Katia Barakat
    • Sharon Bauer
    • Mo Bhamra
    • Tim Boucher (CIA)
    • Dan Brennan
    • Michael CamilleriI
    • Michael Castro
    • Chiranjib Chatterjee
    • Mumtaz Chaudhary
    • Shaheen Chaudhary
    • Sudha Datta
    • Mark Dougherty
    • Warren D'Souza
    • André Fortier
    • Mike Firth
    • Frank Grigg
    • Paul Hedges
    • Andrew Hockin (Compliance)
    • Ken Green
    • Harry Gundy
    • Jim Harris
    • Mitch Hirshhorn
    • Sumit Jha
      • Sumit Experience
    • Elyan Jabre
    • Balveen Kaur
    • Kshitij Kaushal
    • Rohin Khurana
    • Data - Kieng Iv
    • Ron Kusano
    • Rebecca Lai
    • Mark Levesley
    • Cecily Ma
    • Tom O'Carroll
    • Simran Makkar
    • Sahil Malik
    • Terry Martinuk
    • Ed Mathur
    • David McIntosh
    • Indranil Mitra
    • David O'Marra
    • Arlene Palango
    • Doug Pirie
    • Karthikeyan Raaj
    • Jayanth Rao
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