How are you Managing Foreign Exchange Risk? Members learn survey outcomes

Created on 10/22/2015 4:48:05 PM

Rosanna Lamanna
Toronto -- In partnership with Grant Thornton LLP, Food & Consumer Products of Canada (FCPC) recentlyconducted a survey of FCPC member companies to get a better understanding for how they are managing their foreign exchange risk and related policies. There was a terrific response with 55 FCPC member companies completing the survey. On Oct. 14, 2015, members came together to dive-deeper into the insights of the survey.

Foreign exchange risk is a growing issue as the economy becomes increasingly global and the U.S. dollar strengthens. Foreign exchange will have a major impact on any organization’s operations - especially those doing significant business outside of Canada. 

Andrew Kelvin

Rosanna Lamanna, Partner, Assurance Services at Grant Thornton Canada, began the session by explaining the result sand insights from the joint survey. Lamanna was encouraged that just over 80 per cent of respondents have a foreign exchange policy in place, however, advised companies to review, monitor and evaluate those policies on a regular basis. She advised those without a policy to revisit the matter. 

Andrew Kelvin, Senior Rates Strategist, TD Securities, discussed economic and financial market outlooks and predictions.  Kelvin is a Senior Rates Strategist with the Rates, Foreign Exchange, and Commodities Strategy team with a specific focus on Canadian markets.  

Scott Cressman

To help companies minimize the risks of foreign exchange, Scott Cressman Vice President, Commercial BankingDevelopment, Foreign Exchange, Investment & Commodities, TD Securities, outlined 8 steps to a foreign exchange hedging strategy. Cressman showed how hedging will improve the ability of companies to weather market volatility, protecting their profits.  

Following the event, attendees received a copy of TD’s Foreign Exchange Policy to use as a guideline in developing their own policies. Organizations should identify the foreign exchange risks associated with their business, and address these risks in a formal process.

For more information about upcoming FCPC insight events, please click here. 


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Food & Consumer Products of Canada is Canada's largest industry association representing the companies that manufacture and distribute the vast majority of food, beverage and consumer goods found on grocery store shelves. Our members provide jobs to almost 300,000 Canadians, and include small and large multinational and Canadian owned companies.
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