Navigating through bureaucratic changes alongside examining regulation and policy is often times a very complex process. Our meeting with David McGown (Vice President of Government, Regulatory, and Public Affairs) and Michel Liboiron (Director of Government Relations) at CIBC gave us a candid insight to this difficult process. David and Michel captivated us with their perspectives as lobbyists for and representatives of Canada’s massive financial institution CIBC.
There are many dynamics surrounding the federal and provincial regulation of banks. Michel and David are responsible for knowing and elucidating these regulatory dynamics to CIBC. They strive to ensure what regulators are trying to achieve, but must also make certain that it does not undermine the interests of stakeholders. David and Michel must assure that policy works for all parties involved. They need to bring value to the bank and represent the interest of the government, which is a long-term process. Currently, David and Michel are working on policies surrounding technology and consumerism, particularly with regards to mobile phones and banking. All in all, we thank Michel and David for their time, interesting outlooks, and delicious lunch! We would also like to thank CIBC for their sponsorship!