Mike Mercer is a highly-respected senior executive at CDIC, a federal Crown Corporation mandated to insure deposits held in CDIC member banks, trust companies, loan companies, federal credit unions and associations. Mike leads a large, multi-disciplinary team of senior financial professionals that are tasked with protecting the savings of Canadian through effectively dealing with troubled institutions in a failure event. This includes working closely with other CDIC departments and federal safety-net partners to ensure the intervention and resolution regime for deposit-taking institutions contributes to the stability of the financial system in Canada. Mike also represents CDIC on several Financial Stability Board initiatives that address large, cross-border resolution issues and oversees implementation of global financial reforms aimed at strengthening the resiliency of the global financial system. Prior to his appointment to Senior Vice-President in 2015, Mike progressed through a series of senior strategic roles in CDIC.

Managing Director of the Complex Resolution team. Mike set the vision and direction for CDIC’s resolution planning and preparedness work including the coordination of crisis management exercises aimed at improving coordination amongst domestic and international federal safety-net partners.

As Director Complex Resolutions, Mike and his team developed resolution plans consistent with Canada’s commitment to G-20 international reforms for systemically important financial institutions. Mike worked with financial safety net partners to enhance CDIC resolution tools and processes. In addition, Mike established coordinating protocols with key international partners, including the Federal Deposit Insurance Corporation (FDIC) and the Bank of England, on cross-border resolution.

As Director of Risk Assessment, Mike lead the monitoring and development of intervention strategies for high-risk and watch-list members that pose a risk to the CDIC insurance fund.

As Risk Manager, Mike carried out member risk analysis on an assigned portfolio of member institutions. Working closely with CDIC senior management and the Board of Directors, Mike contributed to the advancement of member reviews and other risk reporting processes.

Mike was the Senior Manager of Credit Risk, where he evaluated the design and effectiveness of global risk management controls on behalf of the Chief Auditor and Board of Directors. He also conducted reviews over the Bank’s corporate commercial and international operations, led audit programs and assisted in the due diligence of potential acquisitions.

AT HBOS (Bank of Scotland) Mike was the Associate Director of Credit Risk in the Strategy and International Division. Here Mike instigated and managed the bank’s divisional risk process, procedures and compliance across the overseas offices in Ireland, Australia and Europe. In addition, he developed and instituted a broad range of policies, conducted portfolio analysis, due diligence and detailed reports for executive boards. He also represented the international risk management teams on local credit committees, monitored workout strategies to minimize the financial loss and provisioning on large value delinquent cases.

Mike began his career with the Bank of Western Australia as a Business Analyst in the Commercial Banking division.