Toronto Centre Podcasts

Ep. 182: Retos en la Supervisión de Neobancos y Otros Intemediarios Financieros Digitales 25.05.2026 31min

La conversación resalta los principales retos en la supervisión de neobancos y otros intermediarios digitales, enfatizando el principio de “misma actividad, mismo riesgo, misma regulación” bajo un enfoque de neutralidad tecnológica. Se subraya que la digitalización no reduce los riesgos, sino que los desplaza hacia lo operativo y tecnológico, lo que exige mayores estándares en ciberseguridad, continuidad y gestión de terceros, así como evitar arbitrajes regulatorios y fortalecer la cooperación internacional.Asimismo, se destaca la necesidad de modernizar la supervisión mediante herramientas SupTech y un uso intensivo de datos para una vigilancia más preventiva y eficiente. Se enfatiza el equilibrio entre promover la innovación, a través de sandboxes, open finance y marcos proporcionales, y preservar la estabilidad financiera, la protección al consumidor y la integridad del sistema, junto con el fortalecimiento de procesos digitales que impulsen la inclusión financiera con controles robustos.Orador Invitado:Jorge Mogrovejo González, Presidente, Asociación de Supervisores Bancarios de las Américas (ASBA); Superintendente Adjunto, Banca y Microfinanzas, Superintendencia de Banca y Seguros del PerúPresentador: Michel Canta, Director de Programas, Toronto CentreLee la transcripción aqui. Lee sus biografías aqui.Read the English transcript here. 

Ep. 181: Executive Panel Session: Cyber and Operational Risk in the Quantum Era 29.04.2026 1t 1min

Cyber and Operational Risk in the Quantum Era: Financial Stability amid Escalating Geopolitical ConflictThis panel took place at the 2026 International Monetary Fund and World Bank Group Spring Meetings.Financial stability is under fire as geopolitics and cyber risk collide. As global tensions intensify and technological capabilities accelerate, financial institutions face a rapidly evolving threat landscape where cyber operations, financial crime, and state-sponsored actors are increasingly intertwined. From ransomware campaigns and sanctions evasion to sophisticated cyber intrusions targeting critical infrastructure, adversaries are exploiting digital systems and global financial networks in new and complex ways.As these threats continue to evolve, the quantum horizon introduces an additional layer of strategic risk. This executive panel will examine how advances in quantum computing could reshape cyber and operational risk across the financial sector, while also considering the growing convergence between cyber-enabled crime, ransomware payments, sanctions evasion, and global illicit finance networks. Leaders from policy, finance, and technology will explore the implications of quantum-enabled decryption, the expanding links between cyber threats and illicit finance, and the operational vulnerabilities that could undermine confidence in critical financial infrastructure.The discussion focused on how institutions and regulators can strengthen resilience, enhance cross-border coordination, and prepare for a future in which emerging technologies, cyber conflict, ransomware, and financial crime increasingly intersect. The panel explored what these developments mean for international efforts to combat cyber-enabled financial crime and how global standards bodies, national authorities, and financial institutions can strengthen cooperation to protect the integrity and resilience of the international financial system.Opening Remarks:Cindy Termorshuizen, Deputy Minister of International Development, Government of CanadaPanelists:Giles Thomson, Director, Economic Crime and Sanctions, His Majesty's Treasury; Incoming President, FATFStefan Ingves, Chair, Toronto Centre; Former Governor, Sveriges RiksbankMichele Mosca, Professor, Institute for Quantum Computing, University of WaterlooModerator:Jennifer Elliott, Assistant Director, Monetary and Capital Markets, IMF; Board Member, Toronto CentreWatch the executive panel session here.Read the transcript here. Read their biographies here.

Ep. 180: Supervisory Initiatives to Promote Sustainability in the Context of Emerging Climate Risks 21.04.2026 44min

This podcast was recorded to commemorate Earth Day 2026.In this podcast, Shri Amarjeet Singh discusses India's approach towards sustainability and climate action, including:Commitments announced at COP26, including the reducing emissions with short- and long-term goalsComprehensive frameworks for ESG, green bonds, and sustainability-linked bondsThe SEBI Business Responsibility and Sustainability Report for climate-related disclosuresSpecific measures to mitigate the risk of greenwashingGuest: Shri Amarjeet Singh, Whole-time Member, Securities and Exchange Board of India (SEBI)Host: Mamta Suri, Program Director, Toronto CentreRead the transcript here. Read their biographies here.

Ep. 179: Effective Supervision 14.04.2026 20min

There is growing pressure to ease post-Global Financial Crisis regulatory and supervisory frameworks and to simplify financial supervision.This TC Note makes proposals for supervisory effectiveness and—where consistent with more effective supervision—the simplification of supervisory methodologies and processes. Drawing on lessons from recent bank failures, it identifies three ways to make supervision more effective in identifying and mitigating unacceptable risks:Fully implementing risk-based supervision Enhancing cross cooperation and collaboration among supervisory authorities and other organizationsUsing SupTech carefully, recognizing the need for human intervention and judgementGuest: Clive Briault, Chair, Banking Advisory Board, Toronto CentreHost: Demet Çanakçı, Senior Program Director, Toronto CentreRead the transcript here. Read their biographies here.

Ep. 178: Virtual Executive Panel: Preparing for the Unthinkable: Financial Stability in an Era of Extreme Risk 27.03.2026 1t 1min

This discussion focused on preparing for low-probability but high-impact shocks to the financial sector.The panel explored how geopolitical developments, financial fragmentation, and evolving systemic risks may challenge existing supervisory frameworks. It highlighted the resilience of financial systems and the role of regulatory and institutional frameworks in strengthening preparedness for extreme events.Panelists:Andrea Enria, Senior Advisor, Bank of England; former Chair, Supervisory Board, European Central BankNicolas Véron, Senior Fellow, Peterson Institute for International Economics; Senior Fellow, BruegelModerator:Babak Abbaszadeh, President and CEO, Toronto CentreWatch the virtual executive panel here.Read the transcript here. Read their biographies here.Écoutez le podcast en français ici.Escuche el podcast en español aqui.

Ep. 177: De la Declaración a la Acción: Regulación e Innovación en Seguros Inclusivos en América Latina 20.03.2026 39min

La conversación resalta cómo la Declaración de Ciudad del Cabo orienta a los supervisores para fortalecer los seguros inclusivos mediante marcos regulatorios y supervisores proporcionales, supervisión de conducta, datos confiables e innovación responsable. Se subraya que el regulador debe facilitar productos claros, sostenibles y accesibles sin comprometer la estabilidad financiera, integridad en el mercado ni protección al consumidor. Asimismo, se destaca la relevancia del diálogo técnico con la industria y del intercambio internacional de experiencias. Una supervisión efectiva impulsa mercados más dinámicos y reduce, reforzando la resiliencia económica de hogares y pequeñas empresas.Orador Invitado:Tomás Soley Pérez, Superintendente, Superintendencia General de Seguros (SUGESE); Superintendente, Superintendencia General de Valores (SUGEVAL)Presentador: Michel Canta, Director de Programas, Toronto CentreEscuche el podcast aqui. Lee la transcripción aqui. Lee sus biografías aqui.

Ep. 176: Virtual Executive Panel - Supervisory Independence - Principles, Practice, and Policy Trade-offs 20.03.2026 1t 3min

This virtual executive panel examined the role of independence in financial supervision, focusing on its legal, institutional, and operational dimensions.The panelists discussed how independence:Builds public trustStrengthens policy credibilitySupports financial stabilityCould be weakenedPanelists:Elsie Addo Awadzi, Visiting Fellow, Blavatnik School of Government, University of Oxford; former Deputy Governor, Bank of Ghana; Board Member, Toronto CentreKevin Stiroh, Senior Fellow, Resources for the Future; former Executive Vice President, Federal Reserve Bank of New York  Moderator:Clive Briault, Chair, Banking Advisory Board, Toronto CentreWatch the virtual executive panel here.Read the transcript here. Read their biographies here.Écoutez le podcast en français ici.Escuche el podcast en español aqui.

Ep. 175: Virtual Executive Panel: Innovation at the Frontier - How Emerging Technologies Are Reshaping Central Banking and Supervision 06.03.2026 1t 2min

This discussion convened senior global experts to examine how supervisory and regulatory authorities can prepare for rapid technological change. It focused on artificial intelligence and the evolution of supervisory tools, skills, and institutional capabilities.The speakers explored how emerging technologies are reshaping supervisory mandates, the key challenges that may lie ahead, and the global public good priorities that should guide supervisory approaches to innovation.Panelists:Beju Shah, Head, Toronto Innovation Centre, Bank for International Settlements (BIS)Stefan Ingves, Chair, Toronto Centre; Former Governor, Sveriges RiksbankModerator:Babak Abbaszadeh, President and CEO, Toronto CentreWatch the virtual executive panel here.Read the transcript here. Read their biographies here.Écoutez le podcast en français ici.Escuche el podcast en español aqui.

Ep. 174: Risk-based Supervision: Integrating the Supervisory Review of Supplementary Documents into the Risk Matrix 23.02.2026 20min

A financial institution's supplementary documents provide supervisors with valuable insights into risk. Understanding how to use these documents effectively is essential to improving risk-based supervisory practices.This TC Note and accompanying podcast:Briefly describes the purpose and value of four types of supplementary documents - own risk assessments, business models, recovery plans, and climate-related transition plansExplores six principles for integrating the supplementary documents into risk-based supervision and the risk matrixDiscusses how the six principles can be applied to the supervisory review of supplementary documentsSpeaker: Clive Briault, Chair, Banking Advisory Board, Toronto CentreHost: Demet Çanakçı, Senior Program Director, Toronto CentreRead the transcript here. Read their biographies here.

Ep. 173: The Nexus of Financial Inclusion, Resilience, and Supervision 06.02.2026 1t 5min

In celebration of Canada’s International Development Week, Toronto Centre hosted a virtual executive panel on building financial resilience.The discussion explored insights from the World Bank’s Global Findex 2025 survey, which shows that 79% of adults worldwide now have a bank account, up from just 50% in 2011. The speakers discussed how mobile technology and digital banking is increasing access low- and middle-income countries but emphasized access is only the first step. Financial inclusion requires strengthening the systems, policies, and consumer protections that lead to real financial resilience.The speakers also provided practical insights for financial supervisors, including:How to collaborate with providers to enhance inclusion and resilienceStrategies and tools supervisors can use to increase financial service uptakeApproaches for individuals to save for education and healthOpening Remarks:Barbara Curran, Director General, Social and Economic Development Programming Bureau, Global Affairs CanadaPanelists:Leora Klapper, Lead Economist, Development Research Group, The World BankMariela Zaldivar, Head, Market Conduct and Financial Inclusion, Peruvian Superintendency of Banking, Insurance and Private Pension Funds (SBS)Rhodora M. Brazil-De Vera, Officer-in-Charge, Supervisory Policy and Research Department; Head, ESG Supervision and Surveillance Group, Bangko Sentral ng PilipinasModerator:Lindsay Wallace, Executive Director, FINCA Canada; Managing Director, Social Investment Strategies, FINCA InternationalWatch the virtual panel session here.Read the transcript here.Read their biographies here.Écoutez le podcast en français ici.Escuche el podcast en español aqui.

Ep. 172: Risk-based Supervision of Retail Payment Services Providers and Operators 27.01.2026 16min

Banks and a handful of international firms historically conducted the majority of payment functions. More recently, enabled by technology and regulation, new entrants specializing in one or a few processes have joined retail payment sectors.This Toronto Centre Note and accompanying podcast aims to guide financial sector supervisors whose responsibilities include the supervision of companies licensed or authorized to operate and provide retail payment services (RPS) to perform risk-based supervision (RBS).Speaker: Robert Urry, Program Leader, Toronto CentreHost: Floris Fleermuys, Program Director, Toronto CentreRead the transcript here. Read their biographies here.

Ep. 171: The Global Findex 2025 01.12.2025 43min

On July 16, 2025, The World Bank Group released The Global Findex 2025. It is a comprehensive database on how adults save, borrow, make payments, and manage risk. This edition introduces the Global Findex Digital Connectivity Tracker, which illustrates how mobile phones and internet access are advancing financial inclusion.In this podcast, the speakers explore the highlights of the report, including:Mobile phone ownership, internet use, digital activities, and digital safetyThe growth in financial account ownership across developing economiesOpportunities for regulators to increase capital flows within economiesThe importance of savings and earning interestSpeaker: Leora Klapper, Lead Economist, Development Research Group, The World BankHost: Mamta Suri, Program Director, Toronto CentreRead the transcript here. Read their biographies here.Read the 2025 Global Findex here.

Ep. 170: The Forum on Financial Supervision 25.11.2025 26min

The Forum on Financial Supervision was founded as part of the Systemic Risk Centre at the London School of Economics. It promotes the exchange of knowledge amongst senior policy makers, financial supervisors, and academics to address key issues with a focus on financial stability.This podcast explores the origins of the Forum and its first-year priorities: stress testing, the non-banking sector, and real estate markets. The speakers also discuss future goals for the Forum, including fostering public debate and integrating research into supervisory practice.Speakers: Pedro Duarte Neves, Advisor, Board of Directors, Banco de PortugalAndrea Enria, Senior Advisor, Prudential Regulation Authority; Member, Prudential Regulation Committee, Bank of EnglandHost: Demet Çanakçı, Senior Program Director, Toronto CentreRead the transcript here. Read their biographies here.Visit the Forum on Financial Supervision website to learn more.The views expressed in the podcast are those of Pedro Duarte Neves and Andrea Enria and do not necessarily reflect those of Banco de Portugal, the Bank of England, or the Eurosystem.

Ep. 169: Fireside Chat - Strengthening Financial Sector Resilience for a Fast-changing World 11.11.2025 48min

On Thursday, October 23, Peter Routledge, Superintendent of Financial Institutions, was interviewed by Bill Coen, the Former Secretary General of the Basel Committee on Banking Supervision, a Toronto Centre Board Member, and Chair of our Finance, Audit and Risk Committee, at Toronto’s National Club.This timely conversation provided insights into the importance of international cooperation and the future of the financial sector in a shifting landscape. The event also marked the graduation of the first cohort of Toronto Centre’s Certified Financial Supervisor (CFS) designation—the first rigorous, exam-based professional designation for supervisors and regulators in banking, insurance, pensions, and securities. Panelists:Peter Routledge, Superintendent of Financial Institutions, CanadaModerator:Bill Coen, Former Secretary General, Basel Committee on Banking Supervision, Board Member and Chair, Finance, Audit and Risk Committee, Toronto CentreRead the transcript here. Read their biographies here. Watch the fireside chat here.

Ep. 168: Executive Panel Session - Supervising the Next Wave: AI and Digital Assets 11.11.2025 1t 4min

This panel took place at the 2025 International Monetary Fund and World Bank Group Annual Meetings. The convergence of artificial intelligence and digital assets, including cryptocurrencies such as Bitcoin and stablecoins, is reshaping financial markets through decentralized finance, programmable money, and AI-driven trading strategies. While these developments promise efficiency and innovation, they also raise significant supervisory and financial stability challenges around market integrity, systemic risk, and cross-border oversight.This panel explored how supervisors can harness AI to analyze blockchain data, monitor cryptocurrencies and stablecoins in real time, and anticipate market stresses, including those stemming from decentralized finance and autonomous smart contracts while addressing emerging risks such as cyber threats, privacy concerns, and regulatory arbitrage. It also considered the skills, tools, and global cooperation needed to future-proof supervisory frameworks as these technologies scale.Panelists:Denny H. Kalyalya, Governor, Bank of ZambiaSarah Breeden, Deputy Governor, Financial Stability, Bank of EnglandStefan Ingves, Chair, Toronto CentreModerator:Jay Surti, Division Chief, Financial Supervision and Regulation, IMFRead the transcript here. Read their biographies here. Listen to the podcast here.Watch the executive panel here.

Ep.167: Insights on FATF Guidance - Financial Inclusion and AML/CFT Measures (Part Two) 12.09.2025 42min

This is the second in a two-part podcast series published in partnership with CGAP.In June 2025, the Financial Action Task Force (FATF), issued guidance on Financial Inclusion and Anti-Money Laundering, and Terrorist Financing (AML/CFT) measures. FATF recognizes that applying an overly cautious approach to anti-money laundering, countering the financing of terrorism, AML/CFT safeguards, can have the unintended consequence of excluding businesses and consumers from the financial system.The speakers discussed:Balancing AML/CFT compliance with financial inclusionThe potential of RegTech and SupTech to enhance financial inclusionThe importance of sex-disaggregated data in removing barriers to financial inclusionSpeakers: Mehmet Kerse, Senior Financial Sector Specialist, CGAPLouis de Koker, Consultant, CGAP; Professor of Law, La Trobe University, Australia Host: Richa Goyal, Program Director, Toronto CentreRead the transcript here. Read their biographies here.Read the FATF's updated Guidance on Financial Inclusion and Anti-Money Laundering and Terrorist Financing Measures here.Listen to the first part of the podcast here.https://torontocentre.org/

Ep. 166: Insights on FATF Guidance - Financial Inclusion and AML/CFT Measures (Part One) 15.08.2025 42min

This is the first in a two-part podcast series published in partnership with CGAP.In June 2025, the Financial Action Task Force (FATF), issued guidance on Financial Inclusion and Anti-Money Laundering, and Terrorist Financing (AML/CFT) measures. FATF recognizes that applying an overly cautious approach to anti-money laundering, countering the financing of terrorism, AML/CFT safeguards, can have the unintended consequence of excluding businesses and consumers from the financial system.The speakers discussed:How proportionality supports financial inclusionThe complimentary nature of financial inclusion and financial integrityThe consultation process with international bodies and standard settersSpeakers: Ivo Jeník, Senior Financial Sector Specialist, CGAPLouis de Koker, Consultant, CGAP; Professor of Law, La Trobe University, Australia Host: Richa Goyal, Program Director, Toronto CentreRead the transcript here. Read their biographies here.Read the FATF's updated Guidance on Financial Inclusion and Anti-Money Laundering and Terrorist Financing Measures here.The second part of this podcast series will be released in September 2025.https://torontocentre.org/

Ep. 166: Assessing the Impact of Geopolitical Events on Supervisory Objectives 12.08.2025 12min

Geopolitical risks are emerging from multiple sources, with complex, varied, and country-specific effects. Understanding how these geopolitical events will affect supervisory objectives is a challenging task. Supervisory authorities therefore need a clear framework to identify relevant geopolitical events, assess their impact on objectives, and guide an effective response.This Toronto Centre Note and accompanying podcast provides an overview of an effective assessment framework. It explains each of its elements, explores the tools available for conducting assessments, and outlines how to develop a proactive supervisory response.Speaker: R. Barry Johnston, Program Leader, Toronto CentreHost: Demet Çanakçı, Senior Program Director, Toronto CentreRead the transcript here. Read their biographies here.Read the TC Note here.

Ep. 165: Virtual Executive Panel - Accelerating Global Development through Innovative Financial Supervision & Regulation 10.07.2025 1t 9min

This was an official virtual side-event of the 4th International Conference on Financing for Development.This executive panel explored adapting supervisory and regulatory frameworks to keep pace with rapid technological change, and the role of central banks and supervisors in accelerating the Sustainable Development Agenda. The conversation highlighted the urgent need for coordinated global approaches and how combatting financial crime and the illicit flow of finances, as well as responsibly leveraging AI, is foundational for a stable digital financial ecosystem. The panelists discussed lessons learned from Kenya’s adoption of mobile money.Key themes include:Building supervisory capacity to respond to fintech and AI innovationCyber resilience and combating financial crime as a prerequisite for achieving sustainable developmentStrengthening the financial sector’s role in supporting climate and sustainability goalsThe importance of collaboration between consumers, industry, and financial regulators and supervisorsOpening Remarks:Deputy Ian Gorst, Minister for External Relations, Government of JerseyPanelists:Socorro Heysen, Board Member, Toronto Centre; Former Superintendent, Banks, Insurance, and Pension Fund Administrators, PeruHunter Sims, Associate Director of Business & Operations, Cambridge Centre for Alternative FinanceTamara Cook, CEO, Financial Sector Deepening KenyaOlaf Weber, Professor & CIBC Chair in Sustainable Finance, Schulich School of BusinessModerator:Babak Abbaszadeh, President and CEO, Toronto CentreRead the transcript here. Read their biographies here.Watch the executive panel here.

Ep. 164: Virtual Executive Panel - From Risk to Resilience: Advancing Supervisory Action for Sustainable Banking in Latin America 24.06.2025 59min

This was a virtual executive panel delivered in partnership with the World Wildlife Fund. Latin America's financial sector faces mounting challenges from climate change, biodiversity loss, and shifting global expectations around environmental and social (E&S) accountability. Drawing on the findings of WWF’s 2025 Sustainable Banking Assessment — which evaluated 22 leading banks across six Latin American countries — this panel explored supervisory and policy implications for embedding E&S considerations into risk-based frameworks. The session brought together WWF experts, banking supervisors, and financial institutions to discuss how supervisory authorities could accelerate progress to close persistent implementation gaps in E&S risk management, especially regarding nature-related risks, science-based targets, and net-zero alignment. A key focus was on how regulators could support more consistent disclosure practices, enhance portfolio-level risk assessments, and align national frameworks with global standards such as the Taskforce on Nature-related Financial Disclosures, the International Sustainability Standards Board, and the Net-Zero Banking Alliance. The panel offered a timely opportunity to reflect on the evolving role of supervisors in guiding the transition toward a nature-positive and climate-resilient financial system — especially in a region with rich natural capital and heightened exposure to systemic environmental risks. Opening Remarks:Roberto Troya, Senior Vice President, WWF-US Country Offices; Regional Director, WWF-Latin AmericaBabak Abbaszadeh, President and CEO, Toronto CentrePanelists:Solange Berstein, Chairwoman, Financial Market Commission of ChileAaron Vermeulen, Finance Practice Lead, WWF-InternationalHernando José Gómez, Former Director, National Planning Department of ColombiaModerator:Socorro Heysen, Board Member, Toronto CentreRead the transcript here. Read their biographies here.Watch the executive panel here.