The central theme of this year’s conference is “Strengthening Fundamentals and Adapting to a Dynamic Risk Landscape.”
The conference’s objective is to discuss how central banks and financial sector supervisors and regulators are responding to financial stability risks from an ongoing challenging macroeconomic environment while continuing to make progress on longer-term priorities, including challenges arising from technological and climate related financial risks in the financial sector. Key financial stability risks, supervisory and regulatory issues, and priorities, as well as crisis management preparedness will be explored.
Agenda
Speakers
Dr. Viral V. Achirya
C.V. Starr Professor of Economics
New York University
Viral V. Acharya is the C.V. Starr Professor of Economics in the Department of Finance at New York University Stern School of Business (NYU-Stern). He was a Deputy Governor at the Reserve Bank of India (RBI) during January 2017 to 23rd July 2019 in charge of Monetary Policy, Financial Markets, Financial Stability, and Research. He is a Research Associate of the National Bureau of Economic Research (NBER) in Corporate Finance, a Research Affiliate at the Center for Economic Policy Research (CEPR), and Research Associate of the European Corporate Governance Institute (ECGI). He is or has been an Academic Advisor to the Federal Reserve Banks of Chicago, Cleveland, Kansas City, New York and Philadelphia, and the Board of Governors, and has provided Academic Expert service to the Bank for International Settlements, the International Monetary Fund, and the World Bank. He is a Scientific Advisor to the Sveriges Riksbank since February 2024, a member of the Climate-related Financial Risk Advisory Committee (CFRAC) of the Financial Stability Oversight Council for 2023-26, an invited member of the Bellagio Group of academics and policymakers from central banks and finance ministries since 2021, and a member of the Financial Advisory Roundtable (FAR) of the Federal Reserve Bank of New York since 2020. His primary research interest is in theoretical and empirical analysis of systemic risk of the financial sector, its regulation and its genesis in government- and policy-induced distortions, an inquiry that cuts across several other strands of research – credit risk and liquidity risk, their interactions, and agency-theoretic foundations, as well as their general equilibrium consequences. In recent work, he has also studied the impact of pandemic and climate-change related risks. Viral holds a Bachelor of Technology in Computer Science and Engineering from Indian Institute of Technology, Mumbai, and Ph.D. in Finance from NYU-Stern.
Mr. Tobias Adrian
Financial Counsellor and Director
Monetary and Capital Markets
International Monetary Fund
Tobias Adrian is the Financial Counsellor and Director of the Monetary and Capital Markets Department of the International Monetary Fund (IMF). In this capacity, he leads the IMF’s work on financial sector surveillance, monetary and macroprudential policies, digital money, financial regulation, bank resolution, debt management, capital markets, and climate finance. He also oversees capacity building activities in IMF member countries regarding the supervision and regulation of financial systems, bank resolution, central banking, monetary and exchange rate regimes, central bank digital currency, and debt management. 6 Prior to joining the IMF, Mr. Adrian was a Senior Vice President of the Federal Reserve Bank of New York and the Associate Director of the Research and Statistics Group. At the Federal Reserve, he contributed to monetary policy, financial stability policies, and to crisis management. Mr. Adrian has published extensively in economics and finance journals. His research spans macro-finance, monetary policy, financial stability, and climate finance, with a focus on aggregate consequences of capital markets developments. He has taught at Princeton University and New York University. He is member of the editorial boards of the International Journal of Central Banking and the Annual Review of Financial Economics. Mr. Adrian holds a Ph.D. from the Massachusetts Institute of Technology in Economics, an MSc from the London School of Economics in Econometrics and Mathematical Economics, a Diplom from Goethe University Frankfurt and a Maîtrise from Dauphine University Paris. He received his Abitur in Literature and Mathematics from Humboldtschule Bad Homburg.
Ms. Sarah Bloom Raskin
Colin W. Brown Distinguished Professor of the Practice of Law
Duke University
Sarah Bloom Raskin is the Colin W. Brown Distinguished Professor of the Practice of Law at Duke Law School, is a Senior Fellow at the Duke Center on Risk, and serves as a Partner at the climate advisory firm Kaya Partners, Ltd. Prior to assuming her current role, Sarah was a Rubenstein fellow at Duke University, and a distinguished fellow in the Law School’s Global Financial Markets Center. She is also a member of the Regenerative Crisis Response Committee, a group of leading experts in law, economics, and public policy focused on the use of fiscal, monetary, and regulatory policies in a climate-transitioned economy. Her work has centered on financial institutions, financial market utilities, consumer protection issues, the adaptation of financial regulatory tools as they pertain to climate risk, bolstered prudential standards, and resolution planning. She was appointed and unanimously confirmed as a governor of the Federal Reserve Board (FRB) and was a member of the Federal Open Market Committee, where she helped conduct the nation’s monetary policy and promote financial stability. Following her time at the FRB, she served as the 13th Deputy Secretary of Treasury Department, where she was known as a champion of cybersecurity in the financial sector, both nationally and internationally, and her efforts during her tenure as second in command, including leading the development of the G-7 Fundamental Elements of Cybersecurity for the Financial Sector, contributed to a more secure and resilient financial sector. in the face of increasingly frequent and sophisticated threats. Raskin graduated magna cum laude from Amherst College with a B.A. in Economics and holds a J.D. from Harvard Law School, as well as an Honorary Doctorate of Humane Letters from Muhlenberg College.
Mr. Christopher Calabia
Head of Programs
Central Bank Digital Currency
MIT Digital Currency Initiative
F. Christopher Calabia, CAMS, is Head of Central Bank Digital Currency Programs at the Massachusetts Institute of Technology Digital Currency Initiative, which he joined in October 2022. His 30-year career in central banking and regulation included senior leadership roles at the Federal Reserve Bank of New York, where he was a senior vice president, and the Dubai Financial Services Authority, where he was chief executive; secondments to the Bank for International Settlements (Switzerland) and the International Monetary Fund; and a Senior Advisor role at the Bill & Melinda Gates Foundation’s Financial Services for the Poor initiative. Chris founded a research and advisory consultancy, FC Calabia Solutions, LLC, dedicated to promoting a financial system that is sustainable, resilient, and inclusive. He is a certified anti-money laundering specialist and a graduate of the Fletcher School of Law & Diplomacy (MALD) and a Phi Beta Kappa graduate of the University of Virginia (BA).
Ms. Saskia de Vries
Practice Manager
Financial Stability and Integrity Unit
World Bank
Saskia de Vries is the practice manager for Financial Stability and Integrity at the World Bank. She leads the team on financial stability and integrity, at a time of growing financial vulnerabilities. The team supports EMDE financial sector authorities around the world in implementing global regulatory and supervisory standards, and cutting-edge best practices using diagnostics, technical assistance, lending, and research and knowledge. Saskia is also responsible for the Financial Sector Assessment Program at the World Bank, which works to strengthen institutions, improve crisis preparedness, manage climate and environmental risk, and stimulate (green) finance. Saskia was previously head of International Financial Architecture at Financial Stability at the Dutch Central Bank and co-chair of the NGFS Task Force on Nature-related Risks. She holds a PhD in financial economics.
Ms. Elena Dugger
Chair of the Macroeconomic Board
Managing Director and Chief Credit Officer for the Americas
Moody’s Ratings
Elena Duggar is Moody's Chief Credit Officer for the Americas, and a Managing Director in the Credit Strategy & Research team. Elena is also the Chair of Moody's Macroeconomic Board which sets the global macroeconomic forecasts underpinning Moody's universe of ratings. In her roles leading the North and Latin America Credit Strategy & Research teams, the Global Macroeconomic Research team and the Proprietary Data Analytics team, Elena is responsible for forming house views on emerging risks, driving cross-functional alignment on key credit factors, and rating approach and maintaining rigor in analytic frameworks. She also leads major cross-sector outreach and research initiatives, such as Moody's Global Credit Conditions Outlook and Global Macroeconomic Outlook and regularly represents Moody's macro and credit views with external audiences, including senior policymakers, international organizations, think tanks, academia, regulators, and investors. Prior to her current position, Elena served as Moody's Group Credit Officer for Sovereign Risk and was an economist at the IMF before joining Moody’s. She is a globally recognized expert on sovereign defaults and the author of market leading sovereign research and represents Moody's at the IIF Committee for Sovereign Risk Management and the IIF Principles Consultative Group for the Principles for Stable Capital Flows and Fair Debt Restructuring. Elena holds a B.A. in Economics from Bates College and a Ph.D. in Economics from the University of California at Berkeley.
Mr. Neil Esho
Secretary General
Basel Committee for Banking Supervision
BIS, Switzerland
Neil Esho was appointed Secretary General of the Basel Committee on Banking Supervision (BCBS) in February 2022, having served in various roles within the BCBS Secretariat since 2006. During this period, Neil played a central role in the Committee’s supervisory and policy development program, culminating in the finalization of the Basel III regulatory reform package. Prior to joining the BIS, Neil was Head of Research at the Australian Prudential Regulation Authority (APRA). He holds a PhD in finance from the University of New South Wales, where he also held an academic position in the School of Banking and Finance.
Mr. Andrew (Andy) Felton
Deputy Director
Systemic Risk
Division of Complex Institution Supervision and Resolution (CISR)
Federal Deposit Insurance Corporation
Andrew Felton is the Deputy Director of the Systemic Risk Branch in the FDIC’s Division of Complex Institution Supervision and Resolution. In this role, he oversees resolution policy development, international coordination, examinations, and risk analytics for large and complex financial institutions. Previously at the FDIC, he has also worked on deposit insurance pricing, economic analysis, and the FDIC’s innovation office. He has also worked for the Federal Reserve on stress testing and capital planning. He has an MA in Economics from Tufts University and completed all coursework for a PhD in Public Policy from the University of Maryland.
Mr. Erik Feyen
Head of Global Macro-Financial Monitoring
Lead Financial Sector Economist
Finance Competitiveness and Innovation Global Practice
World Bank
Erik Feyen is Head of Global Macro-Financial Monitoring in the Finance, Competitiveness, and Innovation Global Practice of the World Bank Group. In this capacity, he leads the global monitoring and analysis of key macro-financial vulnerabilities and trends. He co-leads the Bank’s analytical work on the future of finance, advises on fintech-related country operations, and regularly coordinates IMF - World Bank collaborative efforts such as the Bali Fintech Agenda and the joint staff position on the regulatory and supervisory implications for the banking sector stemming from the impact of the COVID-19 pandemic. Erik has led and participated in a wide range of country policy engagements related to financial stability, development, and regulation, including numerous IMF - World Bank Financial Sector Assessment Program missions (FSAPs). He has written extensively on international macroeconomics, financial stability, financial development, fintech, and climate change and his academic research has appeared in the Journal of Financial Economics, the Journal of Portfolio Management, and the World Bank Economic Review. Erik represents the World Bank in the Analytical Group on Vulnerabilities of the Financial Stability Board (FSB) and in several groups of the Financial Action Task Force (FATF) work relating to virtual assets activities. Erik is also a member of the FSB’s Regulatory Issues in Stablecoins (RIS) Working Group and the World Economic Forum’s Digital Currency Governance Consortium. He previously served on the FSB’s Financial Innovation Network. Erik holds a Ph.D. in Finance from the University of Amsterdam and an M.S. in Technology, Policy, and Management / Electrical Engineering from Delft University of Technology. He regularly lectures at Columbia University.
Ms. Chuchi Fonacier
Deputy Governor
Bangkok Sentral Pilipinas
DG Fonacier is the head of the Financial Supervision Sector (FSS), which is mainly responsible for the regulation of banks and other BSP-Supervised Financial Institutions (BSFIs). Under her direct supervision are five subsectors which handle onsite examination and offsite surveillance (or integrated supervision) of BSFIs including specialized supervision of anti-money laundering, trust, financial market operations and information technology, oversight of the public credit registry, policy studies/research, and supervisory data management. She serves as a Steering Committee Member of the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) and the Governor’s permanent alternate as Chair in the Board of Directors of the Philippine Deposit Insurance Corporation (PDIC). DG Fonacier completed two terms as Chair of the Executives’ Meeting of East Asia Pacific Central Banks Working Group on Banking Supervision (EMEAP WGBS), and has served as panelist/resource person in various international conferences/fora on banking supervision, corporate governance, sustainable finance, financial technology and digitalization, financial inclusion, shadow banking, microfinance, bank resolution and crisis management, financial stability, capacity building, etc. organized by international bodies such as the United Nations (UN), IMF/World Bank, Bank of International Settlements (BIS), Financial Stability Institute (FSI), Asia-Pacific Economic Cooperation (APEC), Asian Bankers Association (ABA), South East Asian Central Banks (SEACEN) and central banks and monetary/supervisory authorities of various countries. She has likewise attended programs offered by Harvard Kennedy School and The Wharton School, Aresty Institute of Executive Education.
Ms. Kristalina Georgieva
Managing Director
International Monetary Fund
Kristalina Georgieva has been serving as Managing Director of the International Monetary Fund since October 1, 2019. On April 12, 2024, the IMF’s Executive Board selected Ms. Georgieva to serve for a second five-year term starting on October 1, 2024. Before joining the IMF, Ms. Georgieva was CEO of the World Bank from January 2017 to September 2019, during which time she also served as Interim President of the World Bank Group for three months. Previously, Ms. Georgieva helped shape the agenda of the European Union while serving as European Commission Vice President for Budget and Human Resources. In this capacity she oversaw the EU’s €161 billion (US $175bn) budget and 33,000 staff, as well as the EU’s response to the Euro Area debt crisis and the 2015 refugee crisis. Before that, she was Commissioner for International Cooperation, Humanitarian Aid and Crisis Response, managing one of the world’s largest humanitarian aid budgets. Ms. Georgieva began her career in public service at the World Bank as an environmental economist in 1993. After serving for 17 years, and in many senior positions, including Director for Sustainable Development, Director for the Russian Federation, Director for Environment, and Director for Environment and Social Development for the East Asia and Pacific Region, her career culminated in her appointment as Vice President and Corporate Secretary in 2008. In this role, she served as the interlocutor between the World Bank Group’s senior management, its Board of Directors, and its shareholder countries. Ms. Georgieva serves on many international panels including as co-Chair of the Global Commission on Adaptation, and as co-chair of the United Nations Secretary-General’s High-Level Panel on Humanitarian Financing. She has authored and co-authored over 100 publications on environmental and economic policy, including textbooks on macro- and microeconomics. Born in Sofia, Bulgaria, in 1953, Ms. Georgieva holds a Ph.D in Economic Science and a M.A. in Political Economy and Sociology from the University of National and World Economy, Sofia, where she was an Associate Professor between 1977 and 1993. During her academic career, she was visiting fellow at the London School of Economics and at the Massachusetts Institute of Technology. In 2010, she was named “European of the Year” and “Commissioner of the Year” by European Voice in recognition for her leadership in the EU’s response to humanitarian crises. In October 2020, she received the Atlantic Council’s Distinguished International Leadership Award in acknowledgement of exceptional and distinctive contributions during her career of public service.
Mr. Alain Girard
Executive Board Member
Swiss Financial Market Supervisory Authority (FINMA)
Alain Girard is the Head of the Recovery and Resolution division at FINMA, where he serves as a Member of the Executive Board. Prior to assuming his current position, he also served as the Head of Supervision of Small Banks and Securities Firms worked in FINMA’s Recovery and Resolution division. Before joining FINMA, he worked at a law firm in Zurich and for the Competition Commission as a research associate and Deputy Head of the Centre of Competence for Law. He simultaneously provided advanced training for the debt enforcement and bankruptcy offices of the Cantons Bern, Fribourg, Geneva, Neuchâtel, and Vaud. Mr. Girard is admitted to the bar and holds a doctorate in law as well as a degree in economics.
Mr. Ricardo Harris
Head of Deputy Governor’s Office
Central Bank of Brazil
Mr. Harris is engaged in the discussion of the BCB's entire regulatory agenda, particularly regarding cybersecurity, fintech, and innovation, and has a leading role in coordinating the development of the regulation related to sustainability issues. He also has experience in banking supervision, payment systems, and prudential and foreign exchange regulation. Prior to joining the BCB, Mr. Harris worked at financial institutions structuring mergers and acquisitions and leading project finance transactions. Ricardo Harris holds an MBA in Strategic Management and is a CFA charter holder.
Dr. Valda F. Henry
Deputy Governor
Eastern Caribbean Central Bank
Valda Frederica Henry is the Deputy Governor of the Eastern Caribbean Central Bank (ECCB). She is a Global Human Resources and Organizational Development Expert and has lectured in, among other subjects, Human Resource Management and Accounting and served as the Coordinator of the Administrative Reform Program of the Commonwealth of Dominica. Prior to assuming her current position at the ECCB, she served as a Senior Investment Officer and played an instrumental role in the restructuring of the Investment Unit and the development of the Investment Management Framework. She has served as a Mentor for Executive and Middle Managers and has developed and led numerous multi-year personal and professional development programs for youth in Dominica as well as individuals and businesses throughout the Caribbean. Valda is a Certified Global Professional in Human Resources, Society for Human Resource Management, Senior Certified Professional (SHRM-SCP) and an Accredited Director. She is a chartered Financial Analyst, and holds a PhD in Industrial Relations & Business, a master’s in business administration, and has a bachelor’s in management and a bachelor’s in law.
Ms. Socorro Heysen Zegarra
Superintendent
Superintendency of Banking, Insurance & Private Pension Fund Administrators
Insurance & Private Pension Fund Authority, Peru
Mrs. Socorro Heysen Zegarra is the current Superintendent of Banking, Insurance and Private Pension Fund Administrators of Peru since 2016. She is a member of the Board of Directors of the Toronto Centre; and between November 2018 and May 2022 she was member of the Board of Directors of the Association of Banking Supervisors of the Americas (ASBA). She began her professional career at the Central Reserve Bank of Peru, where she became Deputy Manager of the Monetary Sector and Advisor to the General Manager. In 1997, she joined the Superintendency of Banking and Insurance of Peru as Deputy Superintendent of Banking, and between January and June 2002, she was acting Superintendent of Banking, Insurance and Private Pension Fund Administrators. She was staff member of the International Monetary Fund between 1991 and 1994 and between 2004 and 2007, when she was Deputy Division Chief of the Regulation and Banking Supervision Division. She worked as a consultant between 2007 and 2012 doing extensive work for the IMF and the World Bank in many countries of various regions. In 2012, she joined Financiera Confianza, a financial institution of the BBVA microfinance Foundation, as Chief Economist. Mrs. Heysen is Economist of the Pontifical Catholic University of Peru (PUCP) with a master’s degree in economics of the University of California, Los Angeles, USA (UCLA).
Mr. Philip Ikeazor
Deputy Governor
Central Bank of Nigeria
Mr. Philip Ikeazor is a seasoned banker and chartered accountant with over 33 years of experience in the banking sector. He has held key positions in various institutions including Keystone Bank Limited, Ecobank Kenya Limited, Union Bank Nigeria Plc, and United Bank for Africa Plc. Ikeazor brings international experience, having served as a director in banks in the United Kingdom and Uganda. He has a degree in Economics from the University of Buckingham and has participated in executive programs at prestigious institutions like Harvard Business School and Wharton Business School. He holds fellowships with several professional bodies including the Institute of Chartered Accountants of Nigeria and the Chartered Institute of Bankers of Nigeria.
Mr. Kwayne Jennings
Assistant Director
Supervision of Large Foreign Banking Organizations
Supervision & Regulation Division
Board of Governors of the Federal Reserve
Kwayne Jennings is an Assistant Director in the Firm Oversight section at the Board of Governors in Washington, DC, where he has responsibility for U.S. offices of foreign banking organizations and large domestic bank holding companies. Mr. Jennings has participated in several important initiatives for the Division of Supervision and Regulation including assuming a leading role in the implementation of Regulation YY, Enhanced Prudential Standards for Bank Holding Companies and Foreign Banking organizations, and the IMFs 2020 Financial Sector Assessment Program for the United States. Mr. Jennings began his Federal Reserve career in 1989 at the Federal Reserve Bank of Chicago where he supervised large bank holding companies, state member banks, and U.S. offices of foreign banking organizations. Mr. Jennings holds a BBA in Finance from Loyola University of Chicago, an MBA from The George Washington University, and is a graduate of the ABA Stonier Graduate School of Banking.
Mr. Anil Kashyap
Stevens Distinguished Service Professor of Economics and Finance
Booth School of Business
University of Chicago
Anil Kashyap is the Stevens Distinguished Service Professor of Economics and Finance at the University of Chicago’s Booth School of Business, where he also serves as co-director of the Kent A. Clark Center on Global Markets. He co-founded the U.S. Monetary Policy Forum (the leading private sector conference on US Monetary policy) and has taught courses on Corporation Finance, Advanced Macroeconomics, Understanding Central Banks, Analyzing Financial Crises and Anti-Money Laundering Laws. He is also a research associate for the National Bureau of Economic Research and a research fellow for the Centre for Economic Policy Research, specializing in financial intermediation and regulation, the Japanese economy, macroeconomics, and monetary policy. His expertise in these areas has led to him advising numerous government and international organizations throughout his career, including the Cabinet Office of the Japanese Prime Minister, the European Central Bank, the Swedish Riksbank, the International Monetary Fund, the United States Congressional Budget Office, the Federal Reserve Banks of Chicago and New York, and the Bank of England’s Financial Policy Committee, where he held a position as an external member from 2016 to 2022. He has received several awards in recognition of his work, including “The Order of the Rising Sun, Gold Rays with Neck Ribbon” from the Emperor of Japan, an appointment as an honorary of the Commander of the Most Excellent Order of the British Empire (CBE) from the King of England, and the Emory Williams Award for Teaching Excellence at Chicago Booth in 2014. Mr. Kashyap is a first-generation Indian American.
Mr. Michael Kiley
Deputy Director
Financial Stability Division
Board of Governors of the Federal Reserve System
Michael Kiley is Deputy Director of the Division of Financial Stability at the Board of Governors of the Federal Reserve System in Washington, DC. In this role, he guides financial stability surveillance and contributes to analyses of financial, macroeconomic, and monetary issues. In addition, Mr. Kiley has published widely on topics such as financial cycles, inflation dynamics, technological change, dynamic-stochastic-general-equilibrium models, and monetary-policy strategy. Mr. Kiley has taught at the Yale School of Management, The Johns Hopkins University, and the University of Michigan at Ann Arbor; he has also worked for the Organization for Economic Cooperation and Development and the Congressional Budget Office. *Mr. Kiley appears in his capacity as a researcher, and any views he expresses are his own and not those of the Federal Reserve or its staff.
Mr. Arthur (Art) Lindo
Deputy Director of Policy
Supervision & Regulation Division
Board of Governors of the Federal Reserve
Arthur (Art) Lindo is the Deputy Director for Policy in the Federal Reserve Board's Division of Supervision and Regulation. His principal responsibilities include overseeing the development and assessment of the effectiveness of Board regulations and policies affecting the financial services sector and coordinating the Board’s domestic and international regulatory programs. He also advises the Board on emerging policy matters that have implications for the supervision and regulation of the financial services sector. He is an active participant in various committees in the Federal Reserve System and is the Chairman of the Appraisal Subcommittee of the Federal Financial Institutions Examination Council (FFIEC) and the Chairman of the Basel Committee’s Operational Resiliency Working Group. Art has a BA in Accounting from the Catholic University of America and an MBA in Finance from the George Washington University.
Mr. Didik Madiyono
Member of the Board of Commissioner
Indonesia Deposit Insurance Corporation (IDIC)
Didik Madiyono holds several positions at Indonesia Deposit Insurance Corporation (IDIC), including Member of the Board of Commissioners, Chairman of the IDIC Information Committee, Chairman of the IDIC Sharia Committee, and Chairman of the IDIC Interest Rate Guarantee Transaction Committee. In terms of his professional experience, Didik Madiyono has an extensive and varied career path. He has held positions at IDIC, including Executive Director of Research, Surveillance, and Examination, as well as various roles within the Bank Resolution Group from 2010 to 2019. In 2014, Didik Madiyono has played a part as the Commissioner for PT Bank Mutiara in consequence of the systemic failure of Bank Century. Prior to his tenure, he served as a Senior Bank Analyst and Bank Supervisor at Bank Indonesia, gaining experience in bank supervision and examination. Didik Madiyono attained his Barchelor’s degree in Management from Universitas Gajah Mada, and a master’s degree in strategic management from the Asian Institute of Management in Manila, the Philippines. Overall, Didik Madiyono's CV and career’s track illustrates a wealth of experience in the financial and banking sector, spanning various roles in bank supervision, resolution, and risk management. His educational achievements complement his professional experience, indicating a well-rounded background in both theoretical and practical aspects of the finance industry. With his career progression and diverse skill set he has acquired, have positioned him as a seasoned professional in the field of finance and banking.
Ms. Elizabeth McCaul
Member of the Supervisory Board
European Central Bank
Elizabeth McCaul is a Member of the Supervisory Board of the European Central Bank. Her areas of responsibility include the Supervisory Review and Evaluation Process (SREP), internal governance and risk management, the digital agenda, the training program of the SSM as well as diversity and inclusion. She focuses on prudential implications in dynamic areas such as the oversight of FinTech and supervision of crypto-assets, cyber and IT risk, and the digital transformation of the banking sector. She joined the NY State Banking Department as First Deputy in 1995 and served as NY Superintendent of Banks from 1997-2003. She was elected Chair of the Conference of State Bank Supervisors, served as a Member of the Federal Financial Institutions Examinations Council, on the Joint Forum for Financial Conglomerates and as an Instructor for Financial Stability Institute at the BIS. Before joining the ECB, she worked for Promontory Financial Group where she founded the New York office and served as the Partner-in-Charge, as CEO and Chair of Europe, and Global Head of Strategy. For the first decade of her career, she was an investment banker at Goldman Sachs.
Mr. Toshiyuki Miyoshi
Vice Commissioner for International Affairs
Financial Services Agency, Japan
Miyoshi Toshiyuki was appointed Vice Commissioner for International Affairs of the Financial Services Agency (FSA) on 4 July 2023. He currently heads the FSA’s international affairs group and represents the FSA at the Basel Committee on Banking Supervision as well as at working-level meetings of the G20 and G7. He also participates in discussions at the Financial Stability Board (FSB) and International Organization of Securities Commissions. Prior to the current position, Mr. Miyoshi was Deputy Director-General of the Supervision Bureau from June 2022 to July 2023 and worked on supervision of Japan’s major banks and insurance companies. He also worked on cross-sectoral supervisory policies and external communications in previous positions at the FSA. Mr. Miyoshi also has working experience at Japan's Ministry of Finance (MOF) as division director from July 2014 to July 2020. He played a central role in developing the G20 Principles for Quality Infrastructure Investment and the debt sustainability agenda under Japan's G20 Presidency in 2019. He also worked on government debt management in 2014- 16 In 2010-14, Mr. Miyoshi was on the staff of the International Monetary Fund and worked on its lending policies and relations with regional financing arrangements. Mr. Miyoshi got bachelor’s degree in public law at the University of Tokyo and Master of Philosophy in Politics at the University of Oxford.
Ms. Marina Moretti
Deputy Director
Monetary and Capital Markets Department
International Monetary Fund
Marina Moretti is Deputy Director in the Monetary and Capital Markets Department of the International Monetary Fund (IMF). In this capacity, she oversees the policy and technical work on financial supervision and regulation as well as on financial crisis preparedness and management. She has extensive experience across several aspects of financial stability and has published on financial crises; bank and corporate restructuring; regulatory reforms; and systemic risk analysis. In her IMF career, she has worked with member countries to promote financial soundness; has been closely involved with various international regulatory reform initiatives (including as a member of the Financial Stability Board secretariat in 2008–10); and currently represents the IMF on the Basel Committee on Banking Supervision (BCBS). Prior to joining the IMF, she held positions with the World Bank, including its Special Financial Operations Unit (the Bank’s crisis management arm during the Asian crisis); and with the Organization for Economic Co-operation and Development (OECD).
Mr. T. Kirk Odegard
Deputy Associate Director
Supervision & Regulation Division
Board of Governors of the Federal Reserve System
T. Kirk Odegard is the deputy associate director over the Workforce Solutions function in the Division of Supervision and Regulation (S&R) at the Federal Reserve Board. Kirk oversees efforts related to international training and technical assistance; Federal Reserve System supervision learning, including examiner commissioning; talent management, including people- and organizational culture-related initiatives; diversity, equity, and inclusion; staff and leadership development; and administrative services. He also represents the Federal Reserve Board on the Basel Committee on Banking Supervision’s Basel Consultative Group. Kirk joined the Federal Reserve System in 1998. Prior to his current role, he served as the chief of staff to the S&R division director, where he oversaw the division’s front office. Kirk previously worked in both leadership and analyst roles in the S&R policy function, including a secondment to the Secretariat of the Basel Committee on Banking Supervision in Switzerland for several years. He began his banking supervision career at the Federal Reserve Bank of New York. Kirk also worked as a high school teacher and a systems engineer at a large U.S. bank. Kirk holds a Bachelor of Arts in political science from the University of California, San Diego; a master of education from the University of California, Los Angeles; and a master of public policy from Duke University.
Mr. Dmytro Oliinyk
Deputy Governor
National Bank of Ukraine
Dmytro Oliinyk was appointed as the Deputy Governor of the NBU on 25 October 2022. He oversees such areas as supervision over banks and non-bank financial services market, inspections, licensing, and financial monitoring. Throughout his career he has worked across public and private sectors of Ukraine’s financial system. From 2005-2013, Mr. Oliinyk worked for both Ukrainian and international banks before joining the multinational company PricewaterhouseCoopers PJSC (PwC), providing consulting services to banks in Central and Eastern Europe and Ukrainian authorities. After working for PwC, he held several positions in the public sector, serving as Director of the Financial Policy Department at the Ministry of Finance of Ukraine and as the Director of the Credit Risk and Asset Assessment Department and Director of the General Risk Management Department at the state-owned bank Oschadbank. Prior to assuming his current position, he was Director General of the Economic Policy Directorate at the Office of the President of Ukraine. Oliinyk holds both a bachelor’s degree and PhD in economic cybernetics from Khmelnytskyi National University, he has been a postgraduate student since 2020 at the Academy of Financial Management, a state education and research institution.
Mr. Jean Pesme
Global Director
Finance, Competitiveness, and Innovation Global Practice
World Bank
As Global Director, Finance in the Finance, Competitiveness & Innovation (FCI) Global Practice, Jean leads the World Bank’s work to promote the development of sound, stable, sustainable, and inclusive financial systems. His global team of experts works with governments and partners to make financial systems more resilient, to open access to finance for poor and vulnerable people, to support economic activity and to develop financial markets. Their strategy and its implementation emphasize development of digital financial services, addressing climate change and sustainable finance and creating opportunities for women by bolstering their financial inclusion. Previously, Jean led the World Bank’s Financial Stability and Integrity global team, which assists countries in building and restoring robust and resilient financial systems operating with integrity, transparency and in compliance with international standards and recommendations. He has extensive experience working on financial sector issues, notably in the Middle East and North Africa.
Ms. Lyness Phiri-Mambo
Acting Director
Prudential Supervision
Bank of Zambia
Lyness Phiri-Mambo is Acting Director in charge of Prudential Supervision Department at Bank of Zambia. She has over 24 years combined work experience in bank supervision, external auditing, and accounting. She provides strategic direction and is responsible for planning, supervising, and directing the execution of on-site examinations and off-site surveillance of commercial banks and deposit-taking non-bank financial institutions, as well as providing oversight for institutions in liquidation. Lyness is also the current chairperson for the SADC Committee of Central Bank Governors (CCBG), Banking Supervision and Financial Stability Subcommittee and the Community of African Banking Supervisors under Association of African Central Banks (AACB). She has been instrumental in the development and implementation of various projects including the Early Warning System, the Bank Supervision Application System, Risk Management Guidelines for Banks, and Risk-Based Supervision Approach, the Supervisory Review and Evaluation Process of the banks’ Internal Capital Adequacy Assessment Processes. In addition, she is a key member of the Basel II/III Project Team and has contributed immensely to the review of various banking regulations. She is also engaged in mentoring and coaching examiners on key aspects of surveillance and on-site examinations. She is a graduate fellow of the Macroeconomic and Financial Management Institute (“MEFMI”). Lyness is also a member of the Zambia Institute of Chartered Accountants (ZICA) Standards and Regulatory Board, where she represents the Bank of Zambia. Prior to joining the Bank of Zambia, Lyness worked for Deloitte and KPMG Auditing Firms. She is Fellow Member of the Association of Chartered Certified Accountants (“ACCA”) and ZICA. She also holds a master’s in business administration (“MBA”) degree from Edinburgh Business School of Herriot Watt University.
Mr. John Schindler
Secretary General
Financial Stability Board
John Schindler joined the FSB as the Secretary General in February 2023. Prior to that, Mr. Schindler spent more than 20 years at the Federal Reserve Board (FRB), most recently as a Senior Associate Director in the FRB’s Division of Financial Stability. In that role, he helped set strategic direction for the division as part of the senior leadership team and served as the first chair of the FRB’s Financial Stability Climate Committee. During the Global Financial Crisis, he was seconded to the US Treasury Department as Chief International Economist, and from 2015-2016, he was seconded to the FSB Secretariat. Mr. Schindler also taught classes at Johns Hopkins University for more than 15 years and published research on a variety of topics in both economic and finance journals. He holds a PhD in economics from the University of Pennsylvania and a bachelor’s degree in economics and mathematics from Washington and Lee University. He is married and has five children.
Ms. Chiara Scotti
Governing Board Member & Deputy Governor
Banca D’Italia
Chiara Scotti is the Governing Board Member and Deputy Governor of the Bank of Italy, and subsequently a member of the Joint Governing Board of the Insurance Supervisory Authority (IVASS). Prior to assuming this position, the last two decades of her career were with the Federal Reserve System, starting at the Board of Governors in Washington, D.C., where she worked within the International Finance and Financial Stability Divisions until she joined the Leadership Team of the Federal Reserve Bank of Dallas, where she was Senior Vice President and Director of Research, headed the Bank’s Research and Statistics departments and acted as adviser to President and CEO Lorie Logan on monetary policy. Her areas of expertise include monetary policy, central bank communication, financial stability, digital assets, and empirical macroeconomics and finance. She has authored and co-authored more than a dozen major papers in key economic journals such as the Journal of Monetary Economics, the Journal of Econometrics, the Journal of Business and Economic Statistics, the Journal of Money Credit and Banking, and the International Journal of Central Banking, and has been a speaker at numerous international conferences. She holds an undergraduate degree with distinction in Economics from the Bocconi University and a PhD in Economics from the University of Pennsylvania.
Mr. Jay Surti
Division Chief
Financial Supervision & Regulation Division
Monetary and Capital Markets Department
Jay Surti heads the IMF’s Financial Supervision & Regulation division, holding responsibility for management and execution of the IMF’s work program in these areas, covering policy, surveillance, and capacity development. His previous responsibilities at the IMF include management of the work program on supervision and regulation of nonbank financial intermediation and capital markets; leading the thematic chapters of the Global Financial Stability Report; and as advisor to the IMF’s Financial Counsellor, the coordination of his work program, and outreach. He has participated in several FSAPs, including as the IMF mission chief for the ongoing Spain FSAP and for the 2018 Tanzania FSAP. Jay has been the IMF’s representative at working groups of the Financial Stability Board and the Basel Committee on Banking Supervision. During 2018-20, on leave from the IMF, Jay served as special advisor to the Governor of the Reserve Bank of India, advising top management there on macro-financial stability and financial supervision issues. Jay holds a Ph.D. in economics from Boston University.
Mr. Radek Urban
Executive Director
Markets and Resolution Department
Czech National Bank; Vice Chair of Board
Radek Urban is the head of the Financial Markets and Resolution Department at the Czech National Bank. His responsibilities include foreign exchange rate and interest rate interventions, reserve management, issuance agency for the Ministry of Finance, and resolution planning for Czech banks. He also serves on the Board of the Czech Deposit Guarantee Fund. Radek graduated from the Prague School of Economics and the Swiss Banking School, where his thesis focused on emerging-currency Eurobonds.
Mr. Axel van Trotsenburg
Senior Managing Director
World Bank
Axel van Trotsenburg is the Senior Managing Director (SMD) for the World Bank’s Development Policy and Partnerships. A Dutch-Austrian national, he is responsible for directing the World Bank’s core development work captured by the Bank’s Global Practice groups – including economics, finance, and institutions; human development; infrastructure; and sustainable development – and integrating it better into operations, with a special focus on debt sustainability issues, climate change, fragility, and human capital. He oversees the numerous partnerships of the Bank including the United Nations agencies, co-chairs the replenishment of the International Development Association (IDA) and represents the Bank in the G7 and G20 meetings. He also leads the Bank’s climate engagement in the context of the annual COP convenings. His focus is on unleashing knowledge, talent, partnerships, and communications to enhance the Bank’s impact globally and in the client countries it serves. Prior to this position, van Trotsenburg was the Managing Director of Operations.
Jason Wu
Assistant Director
Global Markets Analysis Division
International Monetary Fund
Jason Wu is the Assistant Director overseeing the Global Markets Analysis division at the International Monetary Fund. Prior to joining the IMF, Jason was an Associate Director in the Division of International Finance at the Federal Reserve Board, overseeing the Global Financial Flows, Global Financial Institutions, and International Financial Stability groups. Between 2018 and 2021, Jason was the Head of Economic Research and later the Head of Credit Risk and Banking Statistics at the Hong Kong Monetary Authority. From 2007 to 2018, Jason held positions in the divisions of Monetary Affairs and Supervision and Regulation at the Federal Reserve Board. He holds a PhD in economics from the University of Wisconsin-Madison and has published research on monetary policy transmission, banking, capital flows, and econometrics in various academic journals.
Tolga Yalkin
Assistant Superintendent
Regulatory Response Sector
Office of the Superintendent of Financial Institutions, Canada
Tolga Yalkin is the Assistant Superintendent of Regulatory Response Sector within the Office of the Superintendent of Financial Institutions, where he oversees the regulation of financial institutions to ensure the stability of Canada’s financial system In the Canadian government, he has served in numerous senior positions, including as Assistant Deputy Minister at Health Canada's COVID-19 Task Force and at the Treasury Board of Canada Secretariat, focusing on public health risk mitigation and modernizing people management policies, respectively. His career has spanned diverse fields, from quantitative to legal, including banking and finance, defense procurement, product safety regulation, and expenditure management. He has taught law in Canada, Australia, and at Oxford, and speaks English, French, and Turkish fluently. He holds honors degrees in business and law from the University of Oxford, the University of Sydney, and the University of British Columbia.