Conference Program: Day 1

Transcription

1 Conference Program: Day 1 7:30-8:30 8:30-8:45 Registration / Breakfast CONFERENCE OPENING Brief remarks by master of ceremony and conference hosts, Mrs. Ursula Menke, Commissioner, Financial Consumer Agency of Canada and Mr. André Laboul, Head of the Financial Affairs Division, OECD. Master of Ceremony: Mrs. Alison Griffiths 8:45-9:30 PLENARY: CURRENT STATE OF FINANCIAL LITERACY IN CANADA Mr. L. Jacques Ménard, O.C., O.Q., Chairman of BMO Nesbitt Burns and President of BMO Financial Group, Québec, and Co-Chair of Canada s Task Force on Financial Literacy, will present the highlights of the work accomplished by the Task Force. 9:30-10:30 PLENARY: NATIONAL AND GLOBAL MEASURE OF FINANCIAL LITERACY Panel discussion Global economic turmoil has strengthened the argument for providing consumers with financial education to improve financial literacy. In order to identify whom to target and what to teach, a number of countries have undertaken national surveys. This session looks at the methods they used and the challenges they faced and the results they obtained. Moderator: Ms. Adele Atkinson, Policy Analyst, Financial Affairs Division, OECD

2 Panellists: Ms. Jennifer Robson, Senior Policy Research Officer, Policy Research Initiative, Canada Mr. Aleksander Rychwalski, Department of Education, Polish Financial Supervision Authority, Poland Mrs. Olivia Davids, Head of the Consumer Education Department, Financial Services Board, South Africa 10:30-11:00 Networking Break (Exhibition Space) and room change 11:00-12:15 WORKSHOPS: NECESSARY STEPS TO ADDRESS THE GAPS Workshop 1 Pier 4-5 Credit and debt management: How can we help people tackle these difficulties and avoid the path leading to bankruptcy? Rising household debt and bankruptcy levels are a growing concern in Canada and around the world. How can we help individuals better manage their personal finances and pay down their debts? Can financial education prevent or change the patterns leading to bankruptcy? This session will also address what non-for-profit financial counselling organizations perceive to be the most pressing concerns and how their programs tackle these issues. Moderator: Mr. Jim Callon, Superintendent, Office of the Superintendent of Bankruptcy Canada Mr. Michael Chapman, Senior Expert, Financial Affairs Division, OECD Ms. Laurie Campbell, Executive Director, Credit Canada Ms. Teresa Perchard, Director of Policy, Citizens Advice, United Kingdom Workshop 2 Pier 2-3 Does technological innovation equal financial inclusion: What will be the role for financial education? New technologies are changing the way people bank and manage their personal finances. What do banking innovations, like mobile banking, mean for individuals with low levels of financial literacy and will they lead to greater financial inclusion? The panel of experts will discuss these issues and how financial education initiatives should address them.

3 Moderator: Mr. Juan Manuel Valle, Director, Ministry of Finance and Public Credit, Mexico Ms. Denise Dias, Policy Specialist, Consultative Group to Assist the Poor (CGAP), Mexico Mr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India Mr. Richard Wilson, Director, Digital Experience, Digital Strategy & Experience, RBC Royal Bank, Canada Workshop 3 Pier 7-8 Planning for retirement: How can we help people better understand and prepare themselves for this important life event? This session focuses on the policies employed by governments and market authorities to encourage retirement planning and enable people to understand the options available. The panel of experts will discuss the challenges linked to finding the appropriate manner and time to deliver pension and retirement information in order to better support people through the process. Moderator: Mr. David Wild, Chair, Saskatchewan Financial Services Commission and Chair, Joint Forum of Financial Market Regulators, Canada Dr. Debbie Harrison, Senior Visiting Fellow, The Pensions Institute, Cass Business School (OECD Consultant), United Kingdom Mr. Malcolm Hamilton, Partner, Mercer Human Resource Consulting Limited, Canada Dr. Jack Mintz, Director and Palmer Chair, School of Public Policy, University of Calgary, Canada Mr. Tom Reid, Senior Vice President, Group Retirement Services, Sun Life Financial Inc., Canada 12:15-13:30 Lunch with FINANCIAL EDUCATION IN THE SCHOOL SYSTEM Ms. Leeanna Pendergast, MPP (Kitchener Conestoga), Parliamentary Assistant to the Ontario Minister of Finance and Co-chair of Ontario s Financial Literacy Task Force

4 Introduction by: Tom Hamza, President, Investor Education Fund (IEF) and Co-Chair, Ontario Financial Literacy Task Force Ms. Pendergast will present highlights of the work accomplished by the Task Force and its working group tasked with developing a strategy to implement financial literacy in schools across Ontario. 13:45-15:00 WORKSHOPS: EFFECTIVE COVERAGE AND DELIVERY Workshop 4 Pier 2-3 Social marketing and communication tools: How can we apply them to improve the design of financial education programs? Social marketing tools are frequently used to alter individual's behaviour in various areas such as public health and are becoming more popular amongst those seeking to change individual financial behaviours. Discover how to design effective communication strategies and apply concepts like audience segmentation and edutainment to develop financial literacy programs that will better target the needs of specific audiences. This session will investigate whether social media can be effective in influencing individuals' financial behaviours or in improving their awareness on financial issues. Moderator: Ms. Diana Crossan, Commissioner, Retirement Commission, New Zealand Professor Dilip Soman, Rotman School of Management, University of Toronto, Canada Mr. Marcin Polak, President, Think Institute for Development of Communication and Education Foundation, Poland Dr. Gilbert Peffer, xdelia Project Coordinator, University of Barcelona, Spain Mrs. Wendy Arnott, Vice President, Social Media & Digital Communications, TD Bank Financial Group, Canada

5 Workshop 5 Pier 7-8 Building capacity: How to develop effective train-the-trainer programs? When it comes to delivering financial education, government agencies and community based organisations often rely on train-the-trainer programs to maximise their capacity to reach individuals. In order to be successful, these programs must be delivered by high quality trainers at the local and/or regional levels. In this session, panellists will discuss the main challenges they faced when building capacity among local financial education providers in terms of recruitment, training, and motivation, the methods they have used to address these difficulties, as well as the successes they have achieved. Moderator: Mr. Steve Stillwell, Manager, Money Advice Service, United Kingdom Mr. Casey Cosgrove, Director, Canadian Centre for Financial Literacy, Canada Ms. Christine Colbert, Director of Projects and Research, Canadian Association of Family Resource Programs Mr. Prashant Saran, Whole Time Member, Securities and Exchange Board of India (SEBI) Workshop 6 Pier 4-5 Financial education in schools: How do we bring financial education programs into the classroom? Countries around the world are working towards increasing the place of financial education in their school systems. OECD will present the Guidelines on Financial Education in Schools developed by its International Network on Financial Education (INFE). Panellists in this session will sketch out the pros and cons of different options for integrating financial education in school curricula that have been considered around the world. They will also address important challenges such as the training of teachers and the development of appropriate resources. Moderator: Mr. David Agnew, President, Seneca College, Canada

6 Ms. Flore-Anne Messy, Principal Administrator, Financial Education, OECD Ms. Delia Rickard, Director, Office of Consumer Protection, Australian Securities and Investments Commission, Australia Ms. Jane Rooney, Director, Financial Literacy and Consumer Education, Financial Consumer Agency of Canada Mr. Mitch Murphy, Education Consultant with the Western School Board in Prince Edward Island and member of Canada s Task Force on Financial Literacy 15:00-15:30 15:30-16:15 Networking Break (Exhibition Space) and room change PLENARY: GENDER AND FINANCIAL EDUCATION: AN OVERLOOKED ISSUE National surveys conducted around the world often reveal that, on average, women display a lower level of financial knowledge. Increased attention to this vulnerable segment of the population is made even more compelling because of their importance in society and the economy. This plenary session will address how to best target women in the light of emerging international best practices. It will also investigate how further resources can be employed internationally to increase women's financial literacy. Introduction by: Mr. Philip Howell, CEO and Superintendent of Financial Services, Financial Services Commission of Ontario, Canada Presenters: Ms. Annamaria Lusardi, Professor of Economics at Dartmouth College, United Sates of America Dr. Angela Hung, Economist, Rand Corporation, United States of America

7 16:15-16:45 PLENARY: SHOWCASE IN THE MEDIA 16:45-17:00 Alison Griffiths, Toronto Star journalist, financial author, and TV host of Maxed Out (W Network) and Dollars & Sense (Viva) will talk about what she learned throughout her career while helping financially stressed individuals, couples and families turn their situation around, sharing her thoughts as to why people make the financial decisions they do and what are some of the most common mistakes they make. She will draw on her experience to portray the main causes of overindebtedness that she has witnessed and the remedies that she has found to be more effective in tackling these situations. DAY 1 - WRAP UP Closing remarks from master of ceremony 17:00-19:00 NETWORKING RECEPTION (Exhibition Space)

8 Conference Program: Day 2 Day 2 Friday, May 27, :30-9:00 9:00-9:45 Breakfast (Exhibition Space) PLENARY: IMPORTANCE OF EVALUATION OF FINANCIAL EDUCATION PROGRAMS: CHALLENGES AND EXISTING INTERNATIONAL BEST PRACTICES AND TOOLS All over the world, people responsible for implementing financial education projects are asking themselves: "How do we know we are making a difference?" There is increasing recognition of the importance of undertaking high quality evaluation in order to answer this question. Our experts will share with you the principles and guidelines they have developed to build evaluation strategies tailored for financial education programs. Introduction by: Ms. Diana Crossan, Commissioner, Retirement Commission, New Zealand Presenters: Ms. Adele Atkinson, Policy Analyst, Financial Affairs Division, OECD Mrs. Janet M. Murray, Financial Literacy Evaluator, Social Enterprise Development Innovations, Canada 9:45-10:15 PLENARY: BEHAVIOURAL ECONOMICS: WHY AND HOW PEOPLE MAKE THE FINANCIAL DECISIONS THEY DO? Jonah Lehrer, author of How We Decide, will discuss how the human mind makes decisions. He will demonstrate how our emotional impulses influence our judgment, and how our need for immediate gratification often leads us to make apparently irrational decisions. Mr. Lehrer will explain that if we better understand how we make decisions and recognize the decision-making mistakes to which we are vulnerable, we can learn to make better decisions. Mr. Lehrer will discuss in particular how we can apply these principles to help people make better financial decisions.

9 Day 2 Friday, May 27, :15-11:15 Panel discussion PLENARY: NUDGING OR EDUCATING CONSUMERS ON FINANCIAL ISSUES: OPPOSING OR COMPLEMENTARY INTERVENTIONS? HOW CAN WE INFLUENCE FINANCIAL BEHAVIOURS IN THE LONG TERM? Many financial literacy practitioners say that financial education alone is just not enough. Even when people have the information needed and know the right thing to do, they will not necessarily engage in an informed financial behaviour. Our panel of academics will discuss how a judicious balance of financial education and choice architecture initiatives can support governments efforts at influencing financial behaviours through public policy while respecting the freedom of choice of consumers. Moderator: Mr. Marc-André Pigeon, Director, Financial Sector Policy, Credit Union Central of Canada Panellists: Professor Dilip Soman, Rotman School of Management, University of Toronto, Canada Dr. Paul Cox, Senior Lecturer of Finance, Business School of the University of Birmingham, United Kingdom Discussants: Dr. Angela Hung, Economist, Rand Corporation, United States of America Ms. Delia Rickard, Director, Office of Consumer Protection, Australian Securities and Investments Commission, Australia 11:15-11:45 Networking Break (Exhibition Space)

10 Day 2 Friday, May 27, :45-12:30 PLENARY: NATIONAL STRATEGIES ON FINANCIAL EDUCATION: INTERNATIONAL GUIDELINES AND HIGHLIGHTS OF THE NEW CANADIAN STRATEGY Special Session Many countries are currently working towards implementing a national financial literacy strategy. With this in mind, the OECD has developed guidelines through their International Network on Financial Education (INFE) to help national governments work towards establishing short and long term plans. Canada will share an overview of the next steps in rolling out its new national strategy. Moderator: Mr. André Laboul, Head of the Financial Affairs Division, OECD Panellists: Ms. Flore-Anne Messy, Principal Administrator, Financial Education, OECD Mrs. Ursula Menke, Commissioner, Financial Consumer Agency of Canada 12:30-13:00 CLOSING REMARKS Master of ceremony and conference hosts