This was the third webinar of the series on the revised Core Principles for effective banking supervision.

The Basel Committee wants banks to institute a sound risk culture, to maintain strong risk management practices, and to adopt and implement sustainable business models. 

The revised Core Principles make clear that the assessment of business model sustainability is a key component of effective supervision.

The panel discussed how supervisors can assess business models and determine if and how to appropriately intervene. 

Speakers:

Elsie Addo Awadzi, Deputy Governor, Bank of Ghana; Board Member, Toronto Centre

William Burn, Managing Director, Supervision Methods, Standards and Controls, Office of the Superintendent of Financial Institutions, Canada

Moderator:

Clive Briault, Chair, Banking Advisory Board, Toronto Centre

Read the transcript here. Read their biographies here. 

https://www.torontocentre.org/

This was the second webinar of the series on the revised Core Principles for effective banking supervision.

Advances in digitalization and financial technology continue to affect the landscape of the financial system, including the provision of banking services.

The Core Principles for effective banking supervision (BCP) have been amended to reflect the impact of new risks, including risks relating to the ongoing digitalization of finance.

The panel discussed regulatory and supervisory implications of innovative technologies and their applications, as well as new competitors and business models.

Speakers:

Socorro Heysen, Superintendent, Banks, Insurance and Pension Fund Administrators, Peru; Board Member, Toronto Centre

Francesca Hopwood Road, Head, BIS Innovation Hub, London Centre

Moderator:

Jennifer Elliott, Advisor, Monetary and Capital Markets Department, IMF; Board Member, Toronto Centre

https://www.torontocentre.org/

The world's most economically vulnerable populations are frequently impacted by natural catastrophes (NatCats).

The International Association of Insurance Supervisors' (IAIS) recent report, A call to action: the role of insurance supervisors in addressing natural catastrophe protection gaps, outlines actions insurance supervisors can take.

The speakers discuss key takeaways from the report including:

• How closing the protection against gap for natural catastrophes could improve financial stability, particularly for emerging markets and developing economies
• The importance of improving consumer financial literacy
• Creating an enabling regulatory and supervisory environment to expand access to affordable insurance products

Read our Climate and Biodiversity Loss Risks Toolkit to learn more.

Speaker: 

Jacqueline Friedland, Executive Director, Risk Assessment and Intervention Hub, Supervision Sector, Office of the Superintendent of Financial Institutions (OSFI), Vice Chair, Protection Gap Task Force, International Association of Insurance Supervisors (IAIS)

Host: 

Anatol Monid, Senior Director, Programs, Toronto Centre

Read the transcript here. Read their biographies here. 

https://www.torontocentre.org/

Panelists:

Anita Bhatia - Assistant Secretary-General and UN Women’s Deputy Executive Director for Resource Management, UN System Coordination, Sustainability and Partnerships

The Honourable John Rwangombwa - Governor, Central Bank of Rwanda

Joan Larrea - CEO, Convergence

Opening Remarks:

Cheryl Urban - Director General, Economic Development and International Financial Institutions, Global Affairs Canada

Moderated by:

Lindsay Wallace - Advisor, Toronto Centre

Read our speakers' bios: https://www.torontocentre.org/Files/NewsResources/1-27-2021/IDW_panel_bios.pdf

This podcast focuses on Toronto Centre’s first Leadership Program for Women Financial Supervisors and Regulators in Sub-Saharan Africa. The speakers discuss the importance of providing women with the tools and strategies to develop and strengthen their key behavioural competencies and leadership skills. Four of the program participants also share their experiences.

Erik Thedéen, Chair of the IOSCO Sustainable Finance Task Force and Jean Lorrain, Chair of Toronto Centre’s Securities Advisory Board discuss IOSCO’s recent report on sustainable finance and securities regulation. They discuss the current initiatives, both by regulators and the industry, including ESG-related international initiatives and challenges to investor protection.

This podcast focuses on developing and retaining talent. The speakers explore the apprenticeship model of training financial supervisors and ways to preserve institutional memory in financial supervisory agencies.

Karen Badgerow, CEO, Isle of Man Financial Services Authority

Dr. Naresh Singh, Toronto Centre’s Sustainability Advisor

Clive Briault, Chair, Toronto Centre’s Banking Advisory Board

Hosted by: Anatol Monid, Senior Program Director, Toronto Centre

Click here to read their bios: https://www.torontocentre.org/Files/NewsResources/11-26-2020/karen_naresh_clive_anatol.pdf

Webinar Link: https://vimeo.com/497774289

Speakers:Kuben Naidoo, Deputy Governor & CEO of the Prudential Authority, South African Reserve BankMaurene Simms, Deputy Governor, Financial Institutions, Supervisory Division, Bank of JamaicaModerator:Clive Briault, Chair, Banking Advisory Board, Toronto Centre

Part of the New Normal Series. This episode features:

Pei Hong Mok, Chief Examiner & Executive Director of the Inspection & Supervisory Methodologies Department, MASAlejandra Castorena Olivares, General Director, Methods and Procedures for Supervision, National Banking and Securities Commission (CNBV), MexicoModerated by Clive Briault, Chair, Toronto Centre's Banking Advisory Board

This webinar focuses on the impact of COVID-19 on the financial system. Our distinguished speakers also discuss emerging trends for supervising the new normal.

This podcast will focus on mental wellness in the workplace and how leaders can support a healthy and thriving team. Practical tips and ideas will be provided to help you manage your own wellbeing.

Experts from the development and financial supervision sectors discussed some of the challenges and solutions for farmers from emerging markets and developing economies in accessing finance to adapt to climate change.

Key takeaways from this insightful conversation include the need to:

• Build a common vision and establish a dialogue between supervisors and the market
• Increase access to finance for small holder farmers through safe digital solutions
• Implement gender-inclusive policies to address specific barriers women face

Toronto Centre and MEDA co-hosted this event as part of Global Affairs Canada's 2024 International Development Week.

Panelists:

Tomás Soley, Superintendent, General Superintendence of Insurance of Costa Rica (SUGESE)

Nadia Guerch, Senior Regional Director for Latin America, Eastern Europe and Asia Pacific, MEDA

Omoneka Oyier, Director, Business Value Creation, MEDA

Moderator:

Carl Hiralal, Insurance and Pensions Advisory Board, Toronto Centre

Read the transcript here. Read their biographies here.

https://www.torontocentre.org/

Dr. Inayat Hussain, Executive Director of the Banking Supervision Group, discusses the impact of COVID-19 in Pakistan, the State Bank of Pakistan’s policy response, and the future risks.

The panel will explore:

• Fundamental similarities between pandemics and climate risk.
• Steps that could be taken to align the immediate pandemic responses with the imperatives of sustainability.
• How to leverage tools such as blended finance to advance climate smart financing.
• The opportunities for the financial sector to contribute towards climate change goals.
• The innovative ways for regulatory and supervisory authorities to address climate change-related risks and meet the SDGs.
• How to promote financial market and product innovations such as green bonds and market-based financing of green infrastructure initiatives.

This podcast will focus on the recent TC Notes on recovery and resolution planning, and will discuss implications for supervisors should an institution fail.

Mariela Zaldivar, Superintendente Adjunto de Conducta de Mercado e Inclusión Financiera de la Superintendencia de Banca, Seguros y AFP (SBS) del Perú, nos comenta sobre los problemas que enfrenta la población más vulnerable en el Perú ante la actual coyuntura, cuál ha sido la respuesta de la SBS y cómo la crisis ha cambiado el trabajo del supervisor de conducta y sobre la importancia de una estrecha cooperación con el supervisor prudencial.

This discussion will focus on the recent FSB Consultation Report on too-big-to-fail reforms.

All companies are determining the best way to reintegrate employees back to the office. This podcast will share information and practical tips to help supervisors and regulators not only survive but to also thrive as they transition back to the office.

Part 3 of the New Normal series. Join this live conversation to gain insights on how central bankers, health experts, and financial sector supervisors are dealing with the new normal.

Since the COVID-19 pandemic, the world of work has changed, and many financial supervisors now need to work from home and manage their teams remotely.

Chuin Hwei Ng interviews long-time TC partner Gerry Lewis on questions such as: how do we make sure the work still gets done effectively? Will my team be as productive or as efficient? How will we stay connected as people – and as a functioning team?

Part of the New Normal series. This episode features The Honourable Sri Mulyani, Minister of Finance, Indonesia, and Carmen Reinhart, Vice President and Chief Economist, World Bank Group. The discussion is moderated by Susanna Moorehead, Chair, OECD's Development Assistance Committee.

Anatol Monid, Toronto Centre Program Director, and Dr. Dianne Saxe, former Environmental Commissioner of Ontario, discuss the risks to the financial system posed by a climate emergency and the importance that disclosure regimes and divestiture actions have for financial institutions and their supervisors.

The International Sustainability Standards Board (ISSB) has developed new standards for sustainability reporting and climate-related disclosure.

This new TC Note and accompanying podcast discuss the benefits, challenges, and actions needed for the standards to reach the goals they were set out to meet. They outline how the standards can help achieve the following key supervisory goals:

1. Investor and consumer protection
2. Safety and soundness of financial institutions
3. Financial system stability and alignment with national climate targets

Speaker: 

Alison Harwood, Program Leader, Toronto Centre

Host: 

Eric Pezet, Program Director, Toronto Centre

Read the transcript here. Read their biographies here. 

https://www.torontocentre.org/

In this podcast, Jean Lorrain, Chair of Toronto Centre’s Securities Advisory Board, discusses the implications of COVID-19 and climate risk for securities regulators, the usefulness of international standards, and “staying the course” in the new normal.

Dans ce podcast, Jean Lorrain, président du Conseil consultatif sur les valeurs mobilières du Toronto Centre, discute des répercussions de la COVID-19 et du risque climatique pour les organismes de réglementation des valeurs mobilières, de l’utilité des normes internationales et comment maintenir le cap dans la nouvelle normalité.

Anatol Monid, Program Director at Toronto Centre, and Dr. Blair Feltmate, Head of the Intact Centre on Climate Adaptation, discuss the risks to the financial system posed by climate change and extreme weather risks, matters about which financial services supervisors and regulators should be concerned.

Anatol Monid, Toronto Centre Program Director, sits down with Dr. Naresh Singh, Special Advisor Sustainability at Toronto Centre, to discuss the risks to the financial system posed by climate change and what supervisors can learn from the COVID-19 pandemic to better address climate change disruptions.

Join this live conversation to gain insights on how central bankers, health experts, and financial sector supervisors are dealing with the new normal.

In this podcast, Shelina Visram, Program Director at Toronto Centre speaks with Dr. Olaf Weber, a Toronto Centre Program Leader, a Professor at the School of Environment, Enterprise and Development (SEED) and Research Chair in Sustainable Finance at the University of Waterloo. The discussion highlights the importance of broadening existing financial supervisory tools to incorporate risks outside the financial sector such as COVID-19, climate change and other events as they have material impact on the economy and the financial industry.

Gain insights on how financial supervisors and regulators can help to mitigate the impact of COVID-19 on the financial system and preserve the gains that have been made in financial inclusion.

In this podcast, Shelina Visram, Program Director at Toronto Centre speaks with Mutumboi Mundia, Director – Market Supervision and Development and Mubanga Kondolo, Manager – Financial Inclusion at the Securities and Exchange Commission Zambia. The discussion focuses on how financial supervisors and regulators are navigating the current global pandemic crisis whilst continuing and leveraging opportunities for the national financial inclusion agenda, and in particular in Zambia.

This is the fifth part of a Toronto Centre Webcast Series to help financial Supervisors and Regulators gain insights and perspectives on COVID-19 and its impact on the global financial system from supervisory experts.

In this Toronto Centre podcast, SAB Chair Ilana Singer interviews Maureen Jensen about the challenges and the opportunities posed by FinTech. She also touches on OSC initiatives that promote gender diversity and environmental, social and governance reporting, which are very relevant topics for the mission of Toronto Centre. Lastly, Maureen reflects on the top 3 initiatives that she led as Chair of the OSC.

Click here to view the full transcript: https://www.torontocentre.org/Files/NewsResources/5-20-2020/Updated%20Transcript_Ilana_Maureen%20Podcast.pdf

In 2023, the Consultative Group to Assist the Poor (CGAP) released a technical guide on Digital Financial Services for Financial Inclusion: Tools for Supervisors.

This podcast highlights key takeaways from the guide, including:

• How to improve supervisory data
• An approach to designing supervisory framework
• How artificial intelligence can improve or impair inclusion

Speakers: 

Juan Carlos Izaguirre, Senior Financial Sector Specialist, CGAP

Mehmet Kerse, Senior Financial Sector Specialist, CGAP

Host: 

Demet Çanakçı, Senior Program Director, Toronto Centre

Read the transcript here. Read their biographies here. 

https://www.torontocentre.org/

https://www.cgap.org/

A dos meses del primer caso confirmado de Covid-19 en el Perú, conversamos con Jorge Mogrovejo, Superintendente Adjunto de Banca y Microfinanzas de la Superintendencia de Banca, Seguros y AFP sobre la situación en el Perú y las medidas regulatorias y de supervisión que se han tomado para manejar la crisis. Así mismo, en la medida en que nos encaminamos a una reapertura gradual de las actividades económicas a nivel mundial, le preguntamos a Jorge sobre los riesgos que más le preocupan y los principios que deben orientar las decisiones de todo supervisor en esta nueva fase de la crisis.

Gain insights on how financial supervisors and regulators can help to mitigate the impact of COVID-19 on the financial system and preserve the gains that have been made in financial inclusion.

In this podcast, Shelina Visram, Toronto Centre Program Director, speaks with John Pattison, Toronto Centre Program Leader. The discussion highlights some of the supervisory challenges during and after a very peculiar crisis like COVID-19, and what financial supervisors and regulators should focus on as they operate in this new normal.

Gain insights on how financial supervisors and regulators can help to mitigate the impact of COVID-19 on the financial system and preserve the gains that have been made in financial inclusion.

En este Podcast, Juan Pedro Cantera, Superintendente de Servicios Financieros de Uruguay, presenta las respuestas de política que han tomado las autoridades uruguayas y del sur del continente para enfrentar la situación creada por la Pandemia del COVID-19, los retos de regulación y supervisión que se avizoran, y los efectos que los avances en regulación y supervisión han tenido sobre el manejo de la crisis.

En este podcast, Gerardo Hernández, Co-Director del Banco de la República (Colombia), presenta las respuestas de política que han tomado las autoridades colombianas para enfrentar la situación creada por la Pandemia del COVID-19 y sus limitaciones en una economía emergente, cómo el banco central ha logrado la continuidad del negocio, los mecanismos de la coordinación interinstitucional, y los efectos que los avances en regulación y supervisión han tenido sobre el manejo de la crisis.

Gain insights on how financial supervisors and regulators can help to mitigate the impact of COVID-19 on the financial system and preserve the gains that have been made in financial inclusion.

In this wide-ranging conversation, Max McConnell, Psychotherapist and Registered Social Worker, offers some strategies for financial supervisors to deal with the stress and widespread disruption to their professional and personal lives during the COVID-19 pandemic. We also explore the dynamic of public expectations on public institutions and financial supervisors, and the importance of communications. We conclude with some tips on how managers can best support their staff to carry on with their jobs when working from home.

Using Stable Coins to Facilitate Financial Stability and Inclusion Under Unprecedented Times.

Join us as we deliver our virtual executive panel alongside the 2020 IMF-World Bank Spring Meetings.

Panelists

• Ceyla Pazarbasioglu - Vice President for Equitable Growth, Finance and Institutions, the World Bank Group.

• Tobias Adrian - Financial Counselor and Director of the Monetary and Capital Markets Department, IMF.

• Dietrich Domanski - Secretary General, Financial Stability Board (FSB)

• Ross Leckow - Senior Adviser Fintech - Strategy and Legal, the BIS Innovation Hub.

Moderator

• Aditya Narain - Deputy Director, Monetary and Capital Markets Department, IMF; Board Member Toronto Centre.

Our speaker bios: https://www.torontocentre.org/Files/NewsResources/4-14-2020/TC%20Executive%20Panel%20-%20Speaker%20Bios.pdf

In this podcast, Dr. Hoe Ee Khor, Chief Economist of the ASEAN+3 Macroeconomic Research Office (AMRO) discusses the key findings from its flagship report, the ASEAN+3 Regional Economic Outlook 2020 (link below) on the impact of the COVID-19 pandemic on Asia’s economic outlook and financial stability. Dr. Khor shared how this pandemic crisis differs from other crises that Asia had weathered in the past, and how policymakers in Asia could best respond to the challenges of the pandemic.

ASEAN+3 Regional Economic Outlook 2020

https://www.amro-asia.org/full-report-asean3-regional-economic-outlook-2020/

To achieve net-zero, every economic sector will need to decarbonize, and financial institutions need to fund activities supporting this transition. Financial institutions and their customers will need to develop credible transition plans.



The panel discussed:

• the common elements for transition plans;
• the need for financial regulators to set supervisory expectations for transition plans; and,
• how transition plans should be considered within the prudential framework.

Panelists:

Martin Moloney, Secretary General, International Organization of Securities Commissions

Irene Espinosa Cantellano, Deputy Governor, Banco de México

Michael Jantzi, Board Member, International Sustainability Standards Board

Thomas Beretti, Senior Advisor to the NGFS Secretariat; Head of Division, Climate Change Centre, Banque de France

Moderator:

Babak Abbaszadeh, President and CEO, Toronto Centre

Read the transcript here. Read their biographies here.

https://www.torontocentre.org/

This is the fourth part of a Toronto Centre Webcast Series to help financial Supervisors and Regulators gain insights and perspectives on COVID-19 and its impact on the global financial system from supervisory experts.

El impacto del COVID 19 está afectando directamente al sector real de la economía mundial. Su impacto varía considerablemente según la región y el país; lo mismo se puede decir de las respuestas de política que las autoridades económicas están implementando en los diferentes países.

Esta situación ha puesto a prueba la resiliencia de todos los participantes del sistema financiero – incluyendo a los supervisores y a los bancos centrales. ¿Cómo han respondido las instituciones financieras en este escenario? ¿Cómo han adaptado sus planes de contingencia para adaptarse de la mejor manera a una situación nunca experimentada? ¿Cómo se ha adaptado el supervisor para cumplir con su mandato?

En este episodio, Juan P. Arango, Director de Programa del Toronto Centre, habla con Tomas Soley, Superintendente General de Seguros de Costa Rica, sobre los retos y las enseñanzas que nos va dejando esta crisis a los supervisores, la supervisión de los riesgos que adquieren mayor relevancia en este escenario y las implicaciones de largo plazo para la supervisión, entre otros temas.

El impacto del COVID-19 está afectando directamente al sector real de la economía mundial. Su impacto varía considerablemente según la región y el país; lo mismo se puede decir de las respuestas de política que las autoridades económicas están implementando en los diferentes países.

Esta situación ha puesto a prueba la resiliencia de todos los participantes del sistema financiero – incluyendo a los supervisores y a los bancos centrales. ¿Cómo han respondido las instituciones financieras en este escenario? ¿Cómo han adaptado sus planes de contingencia para adaptarse de la mejor manera a una situación nunca experimentada? ¿Cómo se ha adaptado el supervisor para cumplir con su mandato?

En este episodio, Juan P. Arango, Director de Programa del Toronto Centre, habla con Jorge Castaño Gutiérrez, Superintendente Financiero de Colombia, sobre los retos y las enseñanzas que nos va dejando esta crisis a los supervisores, la supervisión de los riesgos que adquieren mayor relevancia en este escenario., entre otros temas.