Toronto Centre Podcasts

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/

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/

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.

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.

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.

The term "intervention" can cover a range of actions, including requirements that a supervised financial institution strengthens its controls or governance, strengthens its financial resources, introduces changes to aspects of its business, or limits or discontinues some part of its business.This Toronto Centre Note and accompanying podcast assists supervisors in formulating focused supervisory interventions which comply with sound principles of intervention. It has a somewhat different format from other Notes, providing a series of examples and inviting readers to develop what they would regard as effective supervisory interventions in each case.Speaker: Paul Wright, Program Leader, Toronto CentreHost: Demet Çanakçı, Senior Program Director, Toronto CentreRead the transcript here. Read their biographies here.

This podcast explores the important role that self-regulatory organizations (SROs) play in securities markets, as well as the advantages, risks, and key considerations in delegating regulatory responsibilities to SROs.The speakers discussed how securities supervisors can effectively oversee SROs to ensure accountability, transparency, and investor protection. They also highlighted practical approaches for strengthening the relationship between supervisors and SROs, especially in emerging markets.Speaker: Bert Chanetsa, Program Leader, Toronto CentreHost: Chuin Hwei Ng, Program Director, Toronto CentreRead the transcript here. Read their biographies here.

This panel took place at the 2025 International Monetary Fund and World Bank Group Spring Meetings. The rapid evolution of financial innovation is redefining the landscape of supervision, presenting regulators and supervisors with the challenge of keeping pace with technological advancements while upholding financial stability, consumer protection, and market integrity. This session convenes leading experts to explore practical approaches for leveraging AI in supervision, equipping supervisors with the tools and insights needed to navigate an increasingly complex financial ecosystem. The discussion delved into how AI is reshaping financial systems to enhance resilience, with a focus on AI-driven risk management, operational efficiency, and financial inclusion. The panel discussed:The broader implications for financial stability, regulatory frameworks, and ethical considerationsThe role of AI in strengthening financial system resilienceInnovations that enhance adaptability to market shocks and systemic risksRegulatory and operational challenges in integrating AI-driven solutionsPanelists:Lesetja Kganyago, Governor, South African Reserve BankAndréa M Maechler, Deputy General Manager, Bank for International SettlementsStefan Ingves, Chair, Toronto CentreModerator:Jennifer Elliott, Assistant Director, Monetary and Capital Markets, IMF; Board Member, Toronto CentreRead the transcript here. Read their biographies here.Watch the executive panel here.

In a time of global uncertainty and heightened risks, the financial sector faces unprecedented challenges that demand the attention of regulators and supervisors. Geopolitical tensions, economic turbulence, tariffs, currency devaluation, and the deconstruction of the global development sector may threaten worldwide financial stability.In this webinar, the speakers discussed how supervisors can proactively navigate these challenges.They explored:Key global developments, deregulation, and risks impacting financial stabilityThe importance of crisis preparedness, stress testing, and mitigation strategies in times of uncertaintyThe impact of reduced international aid for emerging markets and developing economiesShifting global priorities and major policy changesPanelists:Stefan Ingves, Chair, Toronto Centre; Former Governor, Sveriges RiksbankElsie Addo Awadzi, Board Member, Toronto Centre; Former Deputy Governor, Bank of GhanaNicolas Véron, Senior Fellow, Peterson Institute for International Economics; Senior Fellow, BruegelModerator:Babak Abbaszadeh, President and CEO, Toronto CentreRead the transcript here. Read their biographies here.Watch the virtual executive panel here.Écoutez le podcast en français ici.Escuche el podcast en español aqui.

This podcast explores why financial literacy matters, its impact on financial stability and inclusion, and what can be done to improve it at all levels, from individuals to policymakers and supervisors.  The speakers discuss how tailored literacy initiatives can help to bridge socio-economic gaps and will lead to people making better financial decisions. They explore how to assess the impact of the initiatives and the importance of updating them to keep pace with technological change.   Speaker: Pedro Duarte Neves, Advisor, Board of Directors, Banco de PortugalHost: Demet Çanakçı, Senior Program Director, Toronto CentreRead the transcript here. Read their biographies here.The views expressed in the podcast are those of Pedro Duarte Neves and do not necessarily reflect those of Banco de Portugal or the Eurosystem.

Toronto Centre and CARE Canada co-hosted a virtual panel session to mark Canada's International Development Week.Closing the financial inclusion gender gap is essential for sustainable economic growth and stability. It empowers women socially and economically while strengthening financial systems. Safeguarding and accelerating the progress made over the past 15 years is critical to ensuring continued advancement.The panel explored strategies to drive women’s financial inclusion, focusing on policy innovations, digital financial services, savings and loan groups, and public-private partnerships. Panelists also discussed how evolving financial ecosystems can support women entrepreneurs, expand access to credit, and promote lasting economic participation.Panelists:May Abulnaga, First Sub-Governor, Central Bank of Egypt; New Chair, Gender Inclusive Finance Committee, Alliance for Financial Inclusion (AFI)Sophie Sirtaine, CEO, Consultative Group to Assist the Poor (CGAP)Claudine Mensah Awute, Vice President, International Programs and Operations, CAREModerator:Babak Abbaszadeh, President and CEO, Toronto CentreWatch the webinar here.Read the transcript here. Read their biographies here.Écoutez le podcast en français ici.Escuche el podcast en español aqui.

This podcast highlights the benefits and challenges of using artificial intelligence (AI) in prudential supervision.The speakers discuss how AI can be used as a supervisory tool to improve fraud detection and risk monitoring, as well as supervising industry use. They also explore the importance of human oversight to ensure fairness in decision making, and the need for ongoing cooperation and flexibility while learning more about AI’s potential.Speakers: Manoj Singh, Deputy General Manager, Central Quality Assurance, Reserve Bank of IndiaKangyu Wang, PhD Candidate, Department of Philosophy, Logic & Scientific Method, London School of EconomicsHost: Wynnell De Landro-Robinson, Program Director, Toronto CentreRead the transcript here. Read their biographies here.

There is an increasing focus on the role of financial institutions in contributing to climate-related change as a result of their financing of the activities of customers and counterparties. A key element in financial institutions’ efforts to limit their contributions to climate-related change is the development of transition plans.This Toronto Centre Note and accompanying podcast focuses on two types of transition plans: those focused primarily on strengthening financial institutions’ own internal risk management in the face of climate-related change, and those aimed at reducing institutions’ own contributions to such change.Speaker: Paul Wright, Program Leader, Toronto CentreHost: Demet Çanakçı, Senior Program Director, Toronto CentreRead the transcript here. Read their biographies here.

Financial institutions fail for many reasons. These failures are often the symptom or consequence of one or more underlying root causes. In some financial institutions, business model weaknesses may be combined with weak corporate governance and poor risk management.This TC Note and accompanying podcast discusses ways in which supervisors can assess the business models of financial institutions, and can intervene to reduce or mitigate the risks inherent in a flawed business model.This should help supervisory authorities to consider how to incorporate business model analysis within their supervisory frameworks, and how to engage with the boards and senior management of financial institutions on this topic.Speaker: Clive Briault, Chair, Banking Advisory Board, Toronto CentreHost: Demet Çanakçı, Senior Program Director, Toronto CentreRead the transcript here. Read their biographies here.https://torontocentre.org/

This panel took place at the 2024 International Monetary Fund and World Bank Group Annual Meetings.In today's fast-changing financial landscape, artificial intelligence (AI) is at the forefront of transformation, reshaping how markets operate and how they are regulated. As we embrace AI's immense potential, it is crucial to address ethical considerations, data privacy, and the need for transparency. Collaboration among industry stakeholders, regulators, and technology developers is essential to harness AI's benefits while effectively managing its risks. The panel discussed:- How AI is driving innovation, enhancing decision-making, and improving operational efficiency- Predictive analytics capabilities that enable better risk assessment and mitigation- Revolutionary advancements in financial supervision, such as AI-powered monitoring and compliance tools- Rapid technological changes and ensuring that regulatory frameworks keep paceOpening Remarks:The Honourable Ahmed Hussen, Minister of International Development, Government of CanadaPanelists:The Honourable John Rwangombwa, Governor, National Bank of RwandaFundi Tshazibana, Deputy Governor and CEO: Prudential Authority, South African Reserve Bank; Vice-Chair, Network for Greening the Financial SystemStefan Ingves, Chair, Toronto Centre; Former Governor, Sveriges RiksbankModerator:Jennifer Elliott, Assistant Director, Monetary and Capital Markets Department, International Monetary Fund; Board Member, Toronto Centrehttps://torontocentre.org/

This was the fifth webinar of the series on the revised Core Principles for effective banking supervision. The panel discussed the inclusion of climate risk in the updated Core Principles and highlight why both banks and supervisors should adopt flexible practices to address the evolving nature of climate risks.Panelists:Elsie Addo Awadzi, Deputy Governor, Bank of Ghana; Board Member, Toronto CentreShahin Mahmudzade, Executive Director, Central Bank of the Republic of AzerbaijanModerator:Jean Pesme, Global Director, Finance, Competitiveness & Innovation, World Bank; Board Member, Toronto CentreView their biographies here.https://www.torontocentre.org/

This was the fourth webinar of the series on the revised Core Principles for effective banking supervision.The revised Core Principle 25 emphasizes banks’ capacity to handle severe operational risks, including pandemics, cyber threats, and natural disasters. Additionally, the revisions introduce a proportionality approach, aligning regulatory rules and supervisory practices with each bank's systemic importance and risk profile. This ensures that standards are scaled appropriately, from large international institutions to smaller deposit-taking banks, without compromising regulatory strength.The panel discussed the importance of operational resilience for banks in a rapidly changing world, as well as the role of proportionality in effectively scaling standards for different banking sectors.Panelists:Chuchi G. Fonacier, Deputy Governor, Central Bank of PhilippinesJessica Chew, Deputy Governor, Bank Negara MalaysiaModerator: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.https://www.torontocentre.org/

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 CentreWilliam Burn, Managing Director, Supervision Methods, Standards and Controls, Office of the Superintendent of Financial Institutions, CanadaModerator:Clive Briault, Chair, Banking Advisory Board, Toronto CentreRead 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 CentreFrancesca Hopwood Road, Head, BIS Innovation Hub, London CentreModerator:Jennifer Elliott, Advisor, Monetary and Capital Markets Department, IMF; Board Member, Toronto Centrehttps://www.torontocentre.org/

This was the first webinar of the series on the revised Core Principles for effective banking supervision.The post-Global Financial Crisis (GFC) period has seen banks continue to build their resilience to financial risks, underpinned by stronger regulatory and supervisory frameworks, including the Basel III standards. The Core Principles for effective banking supervision have been strengthened to reflect key elements of many of the post-GFC reforms introduced by the Basel Committee on Banking Supervision.This panel focused on the experience with macroprudential regulation, supervision, and tools across jurisdictions.Speakers:Nathalie Aufauvre, Secretary General, L'Autorité de contrôle prudentiel et de résolution (ACPR), Banque de FranceBill Coen, Former Secretary General, Basel Committee on Banking Supervision; Board Member and Chair, Finance, Audit and Risk Committee, Toronto CentreModerator:Babak Abbaszadeh, President and CEO, Toronto Centre Read the transcript here. Read their biographies here. https://www.torontocentre.org/