Patrick Déry

Superintendent, Solvency, AMF

Mr. Déry, who holds a master’s degree in economics from Laval University, has been Superintendent, Solvency since February 2013. In this capacity, Mr. Déry is responsible for the oversight and regulation of insurance companies, trust companies, savings companies and financial services cooperatives carrying on business in Québec in order to protect consumers, increase confidence in Québec’s financial sector and promote its development.

The superintendence lead by Mr. Déry is also the deposit insurer and resolution agency for one of the 7 systemically important financial institutions in Canada, which is also one of the largest financial cooperative groups in the world. The integrated regulator model of the Autorité allows it to fully play the role of a risk minimizer to the benefit of Québec’s and Canada’s financial stability.

His staff, made up of one hundred employees specializing in various areas, ensure that businesses subject to AMF oversight meet Québec’s legal, normative and regulatory requirements. The financial soundness and management of these businesses are regularly assessed to ensure that they are solvent and that they follow sound business practices. AMF Solvency also ensures the development, review and implementation of guidelines, notices and standards relating to the areas for which it is responsible.

At the Canadian level, Mr. Déry chairs the Canadian Council of Insurance Regulators (CCIR) since March, 2015. He also was elected member of the Executive Council of the International Association of Deposit Insurers in November, 2016.

During his career, Mr. Déry has also held several high-level positions in Québec’s civil service. In particular, he was part of the Québec Ministry of Finance for some 12 years, where he helped manage the impacts of the 2007–2008 financial crisis on the major financial institutions operating in Québec. Mr. Déry also served as Superintendent, Client Services, Compensation and Distribution from July 2011 to September 2012.

Mr. Déry represents the AMF at the Board of Directors of the Center for Interuniversity Research and Analysis of Organizations and was also a member of the Board of Directors of Hydro-Québec from October 2012 to December 2014.