Adrian Waddy, Data Consultant at Australian Prudential Regulation Authority and Developer at the Bank of England, joins host Adam Csabay to discuss his contribution to the Risk books publication, Data Science in Economics and Finance for Decision-makers. Adrian's chapter, Implementing Big Data Solutions, provides an insight into implementing Big Data platforms and the decisions that must be made along the way to ensure the platform is efficient, effective and user-friendly. The book, published in March this year, edited by the ECB's Per Nymand-Andersen, provides an overview of how digital transformation and Data Science can support decision making. It offers a variety of perspectives, from over 20 contributors to manage digital data. FNA'ers Kimmo Soramäki, Ivana Ruffini, Mikhail Oet, Tomas Takko and Adam Csabay and David Bolder from Nordic Investment Bank also feature in the publication. The latter also discusses his chapter in a previous FNA Talks episode. Episode breakdown: 1:10: An introduction to Adrian’s background 1:50: What does David’s chapter cover and why is the topic important? 3:00: What are the two main insights for demystifying Data Science 4:42: What are the key takeaways from the chapter, and what advice would you give to decision makers starting Data Science? 6:37: What are the two main lessons you would draw from your chapter? 7:49: What is your vision for Data Science and its evolution?

In this latest episode of the FNA Talks podcast series, David Bolder, Director of Model Development and Economic Capital and FNA’s Central Bank and Academia Programme Manager, Will Towning, discuss one of the most awaited Fintech publications of 2021: Data Science in Economics and Finance for Decision Makers, edited and co-authored by the ECB’s Per Nymand-Andersen. David – who co-authored the book – and Will review the key themes of David’s contributions, highlighting the practical implications and demystifying common disillusions of where data science fits into a decision maker’s tool kit. The book, published in March this year, provides an overview of how digital transformation and data science can support decision making and offers a variety of perspectives on managing digital data. Contributions from FNA’ers Kimmo Soramäki, Ivana Ruffini, Mikhail Oet, Tuomas Takko and Adam Csabay also featured in the book. The chapter FNA authored, Prudential Stress Testing in Financial Networks, provides a taxonomy of organizational problems facing firms operating in financial markets, and offers a comprehensive approach to information system design that addresses stress testing in networks. The FNA Team’s work sits amongst contributions from over 20 global experts from both the private and public sectors. The book can be purchased here: https://riskbooks.com/data-science-in-economics-and-finance 0:00 – Introductions 2:05 – What David’s chapter covers and why it is important for decision-makers 4:13 – Two insights for demystifying data science 6:48 – Advice for decision-makers for starting data science 9:23 – Core lessons decision-makers should draw from David’s chapter 13:05 – David’s vision for data science and its evolution

It's the one topic that's been on everyone's mind since the start of 2020, Covid-19. But what impact have Covid-19 disruptions had on the financial sector, and what technological innovations have arisen as a result? In this episode of FNA Talks, Kevin Gardiner, Managing Director and Global Investment Strategist at Rothschild & Co joins host Adam Csabay to highlight the key lessons from the Covid-19 crisis, assess its impact on the future of Fintech and explore the implications of CBDCs on the roles and responsibilities of Central Banks and Financial Services providers. 00:00: Introduction 01:19: To what extent has your business been affected by the COVID-19 crisis, and what key lessons would you highlight for our listeners? 04:05: Has Fintech- or innovative technology in general- provided any useful tools for tackling these disruptions? 05:13: Which key areas should fintech innovation focus on going forward? 08:12: In what ways will the financial industry be affected by developments related to CBDCs and the rise of digital money in general? 11:04: Can the Libras- or digital money issued by BigTechs- challenge Central Banks’ monopoly over monetary policy?

Together, Clair and Bella, discuss Clair’s diverse career leading up to her current role as Chief Operating Officer for the Prudential Regulation Authority within the Bank of England, her experience of gender diversity and advice to women interested in a career in finance and technology. Clair Mills is currently, the Chief Operating Officer for the Prudential Regulation Authority (PRA), within the Bank of England. Clair is responsible for the PRA operations, this includes the delivery of the PRA’s Operating Strategy, Budget, Internal Communications and Investment Portfolio. Other areas of responsibility include managing Data innovation, Regulatory and Business Change, Workforce planning and Diversity and Inclusion. Clair has over 20 years’ expensive financial services experience, operating at board level and leading successful strategic and transformational change in a number of complex organisations, having started her career in the Building Society and Retail Banking sector, before moving into Operational and Technological Change Management Consultancy. Clair joined the Financial Services Authority in 2011 to lead the Internal Twin Peaks programme to transition to the PRA and FCA regulatory model, moving across to the Bank of England with the PRA. In her current role, as well as providing the leadership, management and vision necessary to support the business and to ensure that the proper operational controls are in place. Clair is also responsible for driving a demand-led data approach for the PRA, this includes giving keynote speeches both in the UK and internationally on topics such as Regulatory Technology (RegTech) and how regulators can take advantage of the advances in technology in the work we do. Clair is one of the few senior women in Central Banking and Regulation that work in the sphere. Alongside this role, Clair is a trustee for two charitable organisations, the Addington Fund and the Chartered Institute of Securities and Investments, where she also sits on the Audit and Risk Committee. Clair’s home is a working farm in rural Devon, which she shares with her husband and son. Her passion since childhood is horses, together with helping out on the farm, this provides a great way to recharge batteries and is a very different challenge. 00:16: What is your background and how did you come to work in your current role? 08:39: Would you say that your current role is more FinTech, RegTech or SupTech oriented? 11:24: Do you think diversity is a problem in the industry anecdotally? 14:37: Has the lack of diversity affected your actions? 16:37: Why is diversity important especially in managerial positions and finance and technology? 19:34: Did you notice this diversity gap in your education or in entering the workforce or was there a time where it became more apparent to you? 21:20: Are there any steps we as a generation can take to minimise the gap? 25:20: How do you see the role of women in fintech evolving over the next few years? 26:26 What steps can younger generations of women interested in STEM take to be more proactive about creating changes? 28:43: What advice would you give to young women int arrested in finance or technology?

Julapa Jagtiani, Senior Economic and Economist at the FRB Philadelphia, joins Bella to discuss Julapa’s career and her experience of gender diversity in finance and the steps we can take to increase diversity in the finance and technology sector. As well as a Senior Economic Advisor and Economist at the FRB Philadelphia, Julapa Jagtiani, is also a Fellow member of the Wharton Financial Institutions Centre, and a Central Bank Research Fellow at the Bank for International Settlements (BIS). At the Federal Reserve, Julapa has conducted research and participated in several supervisory policies and implementation projects, including Basel capital requirements for banks, CCAR bank stress testing, and more recently Fintech innovations and regulatory policies. She is a member of the Fintech Subgroup of the Risk Council. Julapa has published influential research articles in top finance journals. Her recent research has focused on issues relating to Fintech innovations, the roles of alternative data and AI/ML in the new financial landscape, small business lending, and various consumer finance issues. Jagtiani has a PhD in finance and an MBA from New York University’s Stern School of Business, where she held the Rockefeller Foundation Fellowship. 00:17: What is your current role and how did you start working in it? 04:45: Would you say that your role is currently more Fintech, Suptech or Regtech oriented? 06:53: What is your background and education and how does this relate to your role and the research you’ve done? 08:51: Do you think that there’s a diversity problem in the industry anecdotal speaking? 10:30: How has the lack of diversity affected your actions subconsciously or subconsciously? 13:21: Why is diversity important, especially in the financial and technology field? 14:37: Would you say that there’s any association between women and their skillsets as it pertains to different roles? 15:47: What steps can his generation take to minimise the gap that you’ve seen? 17:47: What advice would you give to young women interested in finance and technology?

Stacey Cunningham, President of the New York Stock Exchange joins host, Bella for the third instalment of FNA’s podcast mini-series, Women in Fintech & Suptech. Stacey Cunningham joins host, FNA’s Isabella Ivanov, to discuss Stacey’s role at the New York Stock Exchange and her experience as a woman in a traditionally male-dominated sector. Stacey Cunningham is President of the NYSE Group and a member of the executive management committee of the parent company, Intercontinental Exchange (NYSE: ICE). NYSE Group includes the New York Stock Exchange, the world’s largest equity exchange and premier venue for capital raising, as well as a diverse range of equity and equity options exchanges. Prior to being named NYSE President, Cunningham served as NYSE Chief Operating Officer and has held several senior positions at global exchanges. Cunningham has a degree in Industrial Engineering from Lehigh University and currently sits on the Board of Directors for Catalyst, and the Partnership of New York City. ​ With conversations and advice from influential women across the Fintech sector, the FNA Talks mini-series, Women in Fintech, aims to bring awareness to the role women play within the financial industry and the importance of gender diversity within the sector. 00:00:21: Stacey’s Background and Role 00:03:12: Current work focus and day to day role 00:05:44: Is Gender diversity an issue? 00:10:26: How has the lack of diversity influenced your actions? 00:14:00: Importance of diversity in finance 00:16:24: Steps we can take to minimize the gender gap 00:19:12: Role of women in Finance over the next 10 years 00:20:03: What steps can women in the younger generations take? 00:22:11: Final advice for women in STEM

Carlos León at Banco de la República and Gilberto Chavez-Velazquez at Deutsche Bank join FNA's Mohesen Namazi and Kimmo Soramäki to share their perspectives on approaches to Intraday Liquidity stress testing. 00:00:00: Introduction 00:02:13: Approaches to applying stress testing to intraday liquidity 00:09:42: What are some of the data and operational challenges in quantifying and measuring stress testing from an Intraday liquidity perspective 00:18:02: Important considerations when building a successful programme to address regulatory requirements 00:24;02: new techniques and consideration in intraday liquidity stress testing programme

European Banking Authority's Slavka Eley joins host FNA's Isabella Ivanov to discuss her experience as a woman in finance and the role women will play in the industry in the future. ​ Slavka Eley joined the European Banking Authority in 2013 and currently leads the Banking Innovation and Products Unit, responsible for the EBA's work on financial Innovation, digital finance, capital market union and sustainable finance. As part of her current role, she leads the EBA project team on sustainable finance. Additionally, Slavka represents the EBA at European and international working groups, including the FSB Financial Innovation Network, the European Commission's Platform on Sustainable Finance and Basel Committee's Taskforce on Climate Risk. Over the past few years, Slavka has chaired different working groups at the EBA, such as the Network on Sustainable Finance, the Sub-group on Risk Assessment Systems, the mandate to develop the European Supervisory framework and the Subgroup on supervisory Effectiveness and Convergence. Before joining the EBA, Slavka worked for the National Bank of Slovakia as the Head of Supervisory Division for Banks with Advanced Risk Management Approach, responsible for supervising all large banks in Slovakia. Slavka holds an MBA in general management from the City University of Seattle and a Master's degree in Mathematics and Physics from the Comenius University Bratislava. 00:00:00 Introduction 00:00:26 Slavka's Role at EBA and Introduction to EBA 00:02:02: What topics are you focusing on under the Digital Finance work 00:03:31: Education and the background to your current role 00:07:40: Is diversity an issue in the industry anecdotally speaking 00:12:53: Importance of diversity in Technology and finance

Bank of Lithuania's, Jekaterina Govina joins host, FNA's Isabella Ivanov, to discuss women in the Financial industry, Jekaterina’s own personal experiences throughout her career as a lawyer within fintech and advice to young women interested in finance and fintech. For four years, Jekaterina has developed policies for the fintech industry in Lithuania and prior to her appointment as Executive Director of Supervision Services, she worked as a coordinator of Lithuanian Fintech Strategy and Head of the Innovation Committee. Jekaterina has previously worked as a lawyer across various divisions within the Bank of Lithuania. Responsibilities included insurance, payments, lending, peer-to-peer lending and crowd-funding regulations. She holds various accolades and was awarded Public Sector Lawyer of the Year for developing the concept of crowdfunding regulation in Lithuania, and for preparing a dwarf law on crowdfunding. Jekaterina has also been acknowledged by Lattice80 as one of the Top 100 Women in Fintech. With conversations and advice from influential women across the Fintech sector, the FNA Talks miniseries, Women in Fintech & Suptech, aims to bring awareness to the role women play within the financial industry and the importance of gender diversity within the sector.

In this latest episode of the FNA Talks podcast series, the ECB’s Per Nymand-Andersen joins FNA’s Suptech Lead, Adam Csabay to discuss one of the most awaited Fintech publications of 2021: Data Science in Economics and Finance for Decision Makers. Per - who edited and co-authored the book - and Adam review the key themes of the book and highlight its practical contributions, as well as discuss the role that data science will play in the post-Covid world. Index: 00:00 - Introduction 01:08 - Why does data science matter for decision-makers in 2021? 05:01 - How can data science help us tackle the impacts and implications of disruptions like the Covid-19 crisis? 08:31 - In what ways is data science transforming the work of central banks?

Digital Currencies and Crypto Assets in 2021: Impacts, Implications and Regulatory Responses The first FNA Talk of the year focuses on one of the most prominent FinTech themes of 2021. Join Adam as he chats with with Moad Fahmi, Senior Advisor (Financial Technology) from the Bermuda Monetary Authority. Bermuda is one of the first jurisdictions with a regulatory framework designed specifically for digital asset businesses. We will be discussing the impacts and implications of digital currencies and crypto assets and highlight the new roles and responsibilities of central banks and financial authorities. Index 00:00 - Introduction 01:24 - How is digital money changing the landscape of financial services including payments and settlements? 07:18 - What are the particularities of the digital assets regulation and sector in Bermuda? 12:14 - How do regulators and central banks need to change to be able to supervise and regulate the digital assets businesses? 18:20 - What are the key prerequisites for a successful regulation of digital currencies and digital assets on the cross-jurisdictional level? 23:46 - What are the potential implications of the digital money being issued by a variety of entities including the BigTechs?

Intraday Liquidity Management in Banking - Technology Landscape in Focus Today's FNA Talk is dedicated to one of the most important topics for the banking sector, with FNA's President Phillip Straley and Tucker Dona, Head of Business Development and Client Success at Baton Systems, examining the technological considerations of intraday liquidity. Index 00:00 - Introduction 02:19 - What does the landscape of technology look like for intraday liquidity management for banks in today's market? 05:08 - From a technology enablement perspective what are some of the main building blocks for intraday liquidity? 07:18 - Looking at the evolution of intraday liquidity technology at banks what are some of the key elements that define operational maturity? 10:45 - Looking forward to the next 1-2 years, what are some of the key priorities that banks need to keep in mind to maintain a robust intraday liquidity management program?

Intraday Liquidity Management in Banking: Key Trends and New Opportunities Today's FNA Talk is dedicated to one of the most important topics for the banking sector - with FNA's President Phillip Straley, and Jesse Drennan, Senior Vice President at HSBC, discussing key developments in the area of intraday liquidity management. Index 00:00 - Introduction 02:33 - How do you see the market dynamics of 2020 having impacted the plans of large global banks? 05:13 - What have been the key focuses related to intraday liquidity in the market over the last 2-3 years, and what do you see as priorities for the next year or two? 09:39 - How are challenger financial institutions impacting the market & banks’ thinking? - particularly from the standpoint of impact on client expectations and systemic risks? 14:54 - Looking forward… Can you describe "End State" outcomes in the market ? And what does this mean for individual large bank’s capabilities? 19:10 - Could you provide a summary of how you see internal processes optimized, plus any final points on the broader ecosystem?

Maintaining Resilience during Systemic Disruptions: A User Guide for FMIs and Overseers - Part 2 In today’s FNA Talk, John Hagon, Chief Operating Officer at CLS and FNA’s Adam Csabay focus on how to maintain resilience during systemic disruptions. In the second part of the episode,John discusses whether the COVID-19 Crisis has changed his team's approach to business and operational resilience; outlines his views on the implications for coordination and collaboration between the FMIs and their overseers; as well as highlights the sources of systemic disruptions that will need to be paid attention as a priority to going forward. Index 00:00 - Introduction 01:25 - What lessons has the COVID-19 crisis taught us in relation to systemic disruptions, and the processes and procedures for tackling their impact? 04:08 - What will be the implications for coordination and collaboration between the FMIs and the authorities that oversee them? 06:49 - Which sources of systemic disruptions should the FMIs and overseers focus on as a priority going forward? 09:32 - How will the future of work change in Finance in response to the current pandemic?

Maintaining Resilience during Systemic Disruptions: A User Guide for FMIs and Overseers - Part 1 In today's FNA Talk, John Hagon, Chief Operating Officer at CLS and FNA's Adam Csabay discuss how to maintain resilience during systemic disruptions. The first part of the episode focuses on the impact of the COVID-19 Crisis on the FMI landscape, the implications for CLS' operations and the taxonomy of its response; as well as the practical applicability of technology-based tools and frameworks. Index 00:00 - Introduction 01:25 - How has the COVID-19 crisis impacted the FMI landscape? 04:06 - What were the implications on CLS's operations? And which areas have been the most affected ones? 08:56 - What immediate steps has the operations team taken to tackle the impact of the COVID related disruptions? 11:58 - Has FinTech - or innovative technology in general - provided any useful tools or frameworks

Five Digital Currency Questions for 2020 Part 2 - Impact of Digital Currencies on the Use of Cash, Financial Stability and Monetary Policy Today’s FNA Talk is dedicated to one of the most prominent FinTech themes of 2020. Together with Daniel Heller from Fnality International we discuss Digital Currencies and their impact and implications. In the second part of the episode, we focus on the Impact of Digital Currencies on the Use of Cash, Financial Stability and Monetary Policy. Index 00:00 – Introduction 01:31 – What will digital currencies mean for the use of cash? 03:54 – Which traditional cash related risks can digital currencies help to solve? 06:33 – What will be the implications of digital currencies for financial stability? 09:14 – In what ways will the existing regulatory and supervisory procedures need to change? 10:38 - How will digital currencies impact formulation and implementation of monetary policy? 14:05 - Can the Libras (digital currencies issued by the BigTechs like Facebook) challenge central banks’ monopoly over monetary policy?

Five Digital Currency Questions for 2020 Part 1 - Taxonomy of Digital Currencies and the Impact on Payments and Settlements Today’s FNA Talk is dedicated to one of the most prominent FinTech themes of 2020. Together with Daniel Heller from Fnality International, we discuss Digital Currencies and their impact and implications. In the first part of the episode, we focus on the Taxonomy of Digital Currencies and their Impact on Payment and Settlement Systems and Infrastructures. Index 00:00 - Introduction 01:31 - Taxonomy: How to distinguish between various types of Digital Currencies? 05:55 - Central Banks' response to the non-bank providers of money 08:21 - How are digital currencies changing traditional payment and settlement systems and infrastructures? 11:57 - How to ensure that the benefits of Digital Currencies are not outweighed by their risks?

In the first episode of the FNA Talk series we focus on the RegTech & SupTech applications of financial cartography; with Kimmo Soramäki and Adam Csabay discussing how this technology can be used to better understand the impact of systemic disruptions like the COVID-19 crisis, and help to build and maintain the financial as well as operational resilience of systems and players. Index 00:00 – Introduction to FNA Talk 01:34 – Financial Cartography 05:01 – Maps of Trade Networks 10:47 – Maps of Financial Markets 15:31 – Maps of Financial Market Infrastructures