GFOA ALBERTA | CIBC Present
“Investment Policy Development”
Speakers: James Hobson, CFA, Portfolio Manager, Senior Investment Manager & Charet Chahal, CFA, Portfolio Manager, Senior Investment Manager
15 January 2026 | 10:00 AM – 11:00 AM
Member Rate: $85.00 + GST | Non-Member Rate: $99.00 + GST
GFOA Alberta and CIBC Present:
Investment Policy Development
Thursday, January 15th, 2026| 10:00 AM – 11:00 AM
List in point form main take aways from the session with a brief description of each
- Risk and the IPS
- You will learn about the factors that impact our willingness and ability to take risk, what risks should be factored into a municipality’s risk tolerance, and why a well-crafted IPS is an essential tool for appropriately managing risk
- Return and the IPS
- You will learn how to set realistic return expectations that are consistent with your municipality’s risk tolerance, create investment policy parameters that are aligned with applicable legislation, and determine the appropriate asset mix
- Opportunity Costs, Time Horizon, and the IPS
- You will learn how to combat the corrosive power of inflation with a comprehensive understanding of your municipality’s cash flow needs in order to allocate funds into short-term, medium-term, and long-tern portfolios, based on an appropriate time horizon
- Liquidity and the IPS
- You will learn about liquidity risk across different asset classes, how to account for liquidity in the IPS, and why liquidity needs to be at the forefront of every municipal investor’s mind.
- Other Considerations for the IPS
- You will learn about other factors that need to be accounted for in the IPS, including: ethics and conflicts of interests, policy review parameters, prudence, governing legislation, unique characteristics, and applicable accounting standards
This webinar is designed for:
Benefits of Attending:
- Learn from industry leading specialists who have created policies for over 100 Canadian municipalities and institutions
- Learn how the IPS sets the framework for how municipal funds are managed, including legal constraints, risk tolerance, and permitted investments
- Gain the knowledge to needed to evaluate whether investment decisions align with the policy, empowering staff to provide effective oversight and promote responsible stewardship of public funds
- Discover how a well-crafted IPS supports long term-financial planning by aligning investment goals with municipal priorities (e.g., liquidity needs, capital projects), leading to more sustainable and efficient use of resources
James Hobson, CFA, Portfolio Manager, Senior Investment Manager
With over 15 years of experience advising municipalities and institutional investors at CIBC, James Hobson delivers clear, disciplined investment guidance in complex markets. A Portfolio Manager and CFA Charterholder, James has deep expertise in fixed income, equity strategy, portfolio construction, and policy-driven asset allocation. At CIBC Wood Gundy, James leads an advisory practice focused exclusively on customized institutional portfolios. He supports clients with defined mandates — ensuring alignment with investment policy, transparency in execution, and long-term consistency in performance. James holds a Bachelor of Commerce in Finance from the University of Calgary and is a member of both the CFA Institute and the Calgary CFA Society. He is also derivatives licensed for advanced trading strategies. Beyond his professional commitments, James actively supports community initiatives, including long-standing involvement with I Can for Kids, a nonprofit dedicated to alleviating childhood food insecurity. Institutional clients value James for his responsiveness, clarity, and steady hand. His focus: protecting public capital, delivering results, and building trust that lasts.
Charet Chahal, CFA, Portfolio Manager, Senior Investment Manager
With 15 years of experience, Charet is a registered CIRO Portfolio Manager and oversees both transactional and discretionary portfolios for clients. Charet holds a Bachelor of Commerce in Finance from the University of Calgary. He is a CFA® Charterholder and maintains memberships with the CFA Institute and Calgary CFA Society. Charet also holds the Chartered Investment Manager (CIM®) designation, along with a Certificate in Derivative Market Strategies. Prior to joining CIBC Wood Gundy, Charet worked in the Oil and Gas sector, developing a wealth of experience in energy markets. Charet also managed and led a start-up business venture to be listed on the public exchange. Charet is an avid supporter of the Calgary Children’s Hospital.
About GFOA Alberta
GFOA Alberta is a professional organization whose purpose is to enhance the practice of governmental finance in the Province of Alberta. Our objectives include:
- Promote networking opportunities for all government finance officials within all levels of government
- Support and promotion of Provincial, Canadian and International GFOA Conferences and training programs
- Communication with membership on financial issues
- Liaison with Municipal Affairs
- Enhance the profile of GFOA Alberta.
Our Association is affiliated with the International Government Finance Officers Association (GFOA) and maintains contact with its staff to promote training opportunities and participation in annual international GFOA conferences.
Quick Connect to GFOA Alberta
Quick Connect to GFOA Alberta
About Us
GFOA Alberta is a professional organization whose purpose is to enhance the practice of governmental finance in the Province of Alberta. Our objectives include:
- Promote networking opportunities for all government finance officials within all levels of government
- Support and promotion of Provincial, Canadian and International GFOA Conferences and training programs
- Communication with membership on financial issues
- Liaison with Municipal Affairs
- Enhance the profile of GFOA Alberta.
Our Association is affiliated with the International Government Finance Officers Association (GFOA) and maintains contact with its staff to promote training opportunities and participation in annual international GFOA conferences.