Media Releases

Rotman professor named as Bank of Canada Fellowship Award winner

March 25, 2013

TORONTO, ON– A finance professor from the University of Toronto’s Rotman School of Management has been named as the recipient of the Bank of Canada’s Fellowship Award for 2013. This year’s Award provides financial support for a five-year period from 2013 to 2017 to an academic who is recognized for their expertise and excellence in areas important to the Bank’s mandate.

Peter Christoffersen is a professor of finance at the Rotman School and is internationally recognized as an expert in risk management. His main research interests are in volatility modeling for option valuation as well as in developing back testing procedures for risk management systems. He is the author of the Elements of Financial Risk Management, Second Edition (Academic Press, December 2011). He has won research awards from the Q-Group, KPMG, the Montreal Exchange and STOXX. He has given invited lectures at the Bank of America, the Bank of Canada, the European Central Bank, the Board of Governors of the Federal Reserve and the International Monetary Fund among others. Since 2012, he has also been a member of the Model Validation Council at the Board of Governors of the U.S. Federal Reserve System. Before joining the Rotman School in 2010 he taught at McGill University and worked as an economist at the International Monetary Fund in Washington, D.C. His PhD is from the University of Pennsylvania.

“The Bank of Canada is very pleased to present this year’s Fellowship Award to Professor Christoffersen,” said Mark Carney, Governor of the Bank of Canada. “His ambitious research agenda related to the measurement of systemic risk, structural modelling of household defaults, improvement of stress-testing techniques and the design of optimal risk-management strategies is not only timely and influential, but also highly relevant to global policy-makers.”

The Bank’s Fellowship Program is designed to encourage leading-edge research and to develop expertise in Canada in a number of areas critical to the Bank’s mandate: macroeconomics, monetary economics and international finance, as well as the economics of financial markets and institutions, including their financial stability. Each Fellowship Award spans a period of five years, subject to an annual confirmation by the Bank’s Governing Council. Recipients of this award may apply for a second five-year term.

The Rotman School of Management at the University of Toronto is redesigning business education for the 21st century with a curriculum based on Integrative Thinking. Located in the world’s most diverse city, the Rotman School fosters a new way to think that enables the design of creative business solutions. The School is currently raising $200 million to ensure Canada has the world-class business school it deserves. For more information, visit


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Ken McGuffin
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Rotman School of Management
University of Toronto
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