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Co-sponsorship for these seminars is provided by Scotiabank, RBC Financial Group and Trans Union of Canada.
Everyone is welcome to attend. There is no fee for these seminars, but space is limited so pre-registration is essential.
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Guest Speaker: |
Alberta Cefis Consumer Credit: A New Context. The Outlook for Borrowing in Canada in Uncertain Times |
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Keynote Speaker: |
Anthony Percaccio AVM: How to value over 3 million properties . . . every month! |
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Date: |
Thursday October 17, 2002 |
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Time: |
2:00 - 4:00 p.m. |
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Location: |
RBC Training Centre Take the King Subway exit on the north-west side of King and Yonge. For those who drive, please don't park on any main streets (King, Yonge, Bay or Adelaide); cars will be towed away from 3:00 to 6:00 p.m. |
Consumer Credit: A New Context. The Outlook for Borrowing in Canada in Uncertain Times
Alberta Cefis
Executive Vice President, Retail Lending Services, Scotiabank
AVM: How to value over 3 million properties . . . every month!
Anthony Percaccio
Manager Research, Product Development - Property Values Municipal Property Assessment Corporation
ABSTRACT OF KEYNOTE TOPIC
Have you ever wondered how your property assessment value is generated? Would you have thought that statistical inference would have been used in the development of this value? In fact over the past five years the Municipal Property Assessment Corporation (MPAC) has assessed more than three million residential properties using the sales comparison approach to value utilizing multiple regression analysis (MRA) representing a total value of over $500 billion.
In today's active real estate market, the June 30th 1999 assessed value may not represent current market value necessary for financing such as the collateral value of property required for loan underwriting. To address this gap, MPAC has embarked on producing Automated Valuation Models (AVM) in which continuous 'real-time' value estimates are achieved as a result of extensive statistical analysis of market activity at provincial, regional, city and neighbourhood levels. This could only be achieved through maintaining the most comprehensive and dynamic database available in Ontario, containing more than two billion data elements.
The talk will discuss the AVM Product and how it provides a reliable and accurate 'real-time' estimate of market value for all residential properties in Ontario and conceivably beyond.
Guest Speaker
Alberta Cefis is Executive Vice-President, Retail Lending Services, and President and CEO of Scotia Mortgage Corporation. She is responsible for consumer lending, including mortgages, credit cards, personal loans and automotive finance, as well as credit risk management and integrated business solutions.
Alberta joined Scotiabank in 1999 as Senior Vice-President, Retail Lending Services, and President and CEO of Scotia Mortgage Corporation. She has 21 years of extensive experience in the Canadian financial services industry, in the areas of retail banking, operations and service delivery, marketing, strategic planning and organizational development.
Alberta is multilingual, and graduated from McGill University with a Bachelor of Arts Joint Honours degree in Political Science and Literature in 1975, and a Masters degree in Business Administration from McGill in 1979. She is involved in a number of industry associations and community endeavours. Currently, she is chair of the Chip Executive Council, Director of the Visa Canada Association Board, and President & Director of the Board of Opera Atelier, a world-class baroque opera company in Toronto.
Alberta was recently named to "the Power 50", the National Post's third annual list of the most influential women in Canadian business, published in May 6, 2002. Rankings were based on women's roles within their organizations, their public profile, their overall influence in the society, and their most significant accomplishments in the recent past.
Keynote Speaker
Anthony Percaccio is currently working as the Research Manager of Product Development-Property Values, Municipal Property Assessment Corporation (MPAC) formerly the Ontario Property Assessment Corporation (OPAC) and prior to that, the Ontario Ministry of Finance's Property Assessment Division. Most recently in this role, Anthony has brought to fruition MPAC's Automated Valuation Model (AVM) Product which represents 'real-time' property valuations for more than three million residential properties.
Prior to his current role, Anthony was a Multiple Regression Analysis (MRA) Valuation Analyst responsible for the research and development of statistical valuation models and policies in the Greater Toronto Area. Anthony was also a statistician for Quality Services and has held various statistical and valuation positions at MPAC.
A double honours graduate of York University in the field of Mathematics and Statistics, Anthony also holds a diploma from the Canadian Operational Research Society (CORS). He has completed the University of British Columbia's Certificate Program in Real Property Assessment and is a member of the Institute of Municipal Assessors (IMA).
If you plan to attend this seminar, please RSVP to Tamara Arenovich by e-mail.
Please contact Tamara or Ivan Hon if you want more information about the SORA Financial Statistics/Marketing Seminars.
Tamara Arenovich
Department of Statistics
University of Toronto
Co-Chair, Committee for Financial Statistics & Marketing, SORA
(416) 978-4455
tamara.arenovich@utoronto.ca
Ivan Hon
Senior Manager, Decision Support
Credit Risk Management, Scotiabank
Co-Chair, Committee for Financial Statistics & Marketing, SORA
(416) 866-4370
ivan.hon@scotiabank.com
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Co-sponsorship for these seminars is provided by Scotiabank, RBC Financial Group and Trans Union of Canada.