About this learning event

At this online course, we will discuss the cyber risk landscape for financial institutions, the core principles of sound risk management, regulation, and effective supervisory practices. We will also talk about challenges that we are now witnessing, as digitization and modes of non-cash payments are accelerating at an unprecedented rate. We will address the practical aspects of cyber risk management and oversight of the financial market infrastructure, focusing on the payment and settlement systems.

Who should attend

Officials working on the development of payment and settlement systems and their oversight at central banks and other relevant institutions

Delivery and workload

The course will be delivered as a combination of pre-recorded videos, live interactive sessions, quizzes and homework assignments.

Overview of time scheduling for the online course (Agenda) will be updated soon. Please check back in the following days.

Agenda

Faculty

• Tamas Gaidosch, Senior Financial Sector Expert, Monetary and Capital Markets, International Monetary Fund

Tamas's  responsibilities in Financial Regulation and Supervision Division include designing and rolling out IMF’s global Cyber Risk Technical Assistance program for financial sector regulatory and supervisory authorities, participating in financial sector surveillance, developing policy recommendations, and representing IMF on cyber-security matters in international standard setting bodies. Before joining the IMF, Tamas was in charge for IT Supervision at the Central Bank of Hungary (2015-2017). Prior to that position Tamas was a partner at Deloitte (2013-2014) being in charge for the firm’s Enterprise Risk Services in Central Europe. Earlier he worked at KPMG (1999-2013) as Head of Risk Consulting in Hungary. He holds a Masters degree in Computer Science, is an Executive MBA (Ecole des Ponts ParisTech), and holds CISA, CISM and CISSP certifications.

• Ravikumar Rangachary, Senior Financial Sector Expert, Monetary and Capital Markets, International Monetary Fund

Ravikumar joined the cyber team in Monetary and Capital Markets Department in October 2020. Prior to joining the Fund, Ravikumar worked at the Reserve Bank of India as Chief General Manager, where he was responsible for setting up and operationalizing Cyber Security and IT Examination Group. During his tenure he put in place a cyber security framework, a cyber incident reporting framework and a key risk indicator framework for assessing cyber security. He was a member of the Cyber Lexicon Working Group as well as Cyber Incident Response and Recovery Working Group set up by FSB.

His other responsibilities during his long career have been facilitating setting up of Off-site monitoring system, heading the analytics function at the Department of Supervision and facilitating implementation of Risk Based Supervision. He worked as a member of faculty teaching regulation and supervision for over five years at the Reserve Bank Staff College. He also worked at Central Bank of Oman as an Expert in Supervisory / Regulatory functions for more than five years.

Ravikumar has an MBA and he is a CFA, FRM and CISA. He also attended Senior Executive Program at London Business School (2003) and Advanced Management Program at Columbia Business School (2019)

• Emran Islam, Senior Financial Sector Expert, Monetary and Capital Markets, International Monetary Fund

Emran joined the IMF in 2020 as a Senior Financial Sector Expert in the Financial Regulation and Supervision Division. In his previous role, Emran was a Senior Oversight Expert at the European Central Bank (ECB) and the lead for developing and operationalising the cyber resilience strategy for the European Union. He was a part of the team that developed TIBER-EU, the Cyber Resilience Oversight Expectations, established the Euro Cyber Resilience Board, developed and operationalized the market-wide cyber exercise (UNITAS) and developed the Cyber Incident and Information Sharing Initiative (CIISI-EU). Emran has been involved in various international cyber groups, including the G7 Cyber Expert Group, the CPMI Task Force for endpoint security, the FSB Cyber Lexicon Working Group, the CPMI-IOSCO Cyber Working Group, the ESRB Systemic Cyber Working Group and the World Bank FIGI. As part of this international work, Emran has been involved in drafting the CPMI-IOSCO Cyber Guidance, the different G7 Fundamental Elements, the CPMI strategy for endpoint security and the FSB Cyber Lexicon. He was involved in the G10 Oversight of SWIFT and was the overseer of STEP2-T and EURO1. Prior to joining the ECB in 2015, Emran worked at the Bank of England for 5 years, where he was an FMI supervisor, as well as leading the cyber work for UK FMIs (inlcuding the development of CBEST). Emran is a Chartered Accountant, and has previously worked at Goldman Sachs, PwC, IBM and the central government. Emran has a BA and MPhil from the University of Oxford.

• Anca Paduraru, Financial Sector Expert, Monetary and Capital Markets, International Monetary Fund

Anca is a Financial Sector Expert in the Payments, currencies, and Infrastructures Division in the Monetary and Capital Markets Department of the IMF. She provides technical assistance to countries on modernization of payment systems, review of payments regulation, oversight and supervision of new payment entities, assessing implications from adoption of digital currencies (incl. CBDC), enhancing cross-border payments, etc. She is also actively involved in the work on G20 cross-border payments roadmap. Prior to joining the IMF, Anca worked as a payments overseer at the ECB. During this time, she was responsible for the oversight of the euro area’s largest private-owned wholesale and retail payment systems (EURO1 and STEP2-T), instant retail payment system (RT1), as well as the SEPA schemes. She also coordinated the cooperation platform of banking supervisors and central bank overseers on retail payments security in Europe and participated in drafting European legislation for payment service providers, including fintech (PSD2). She represented the ECB in various industry fora on payments security (incl. those hosted by the European Payments Council), conducted cyber security assessments of payment infrastructures, and drafted the Eurosystem’s card fraud report.

• Samo Lučev, Senior Supervisor, Payment and Settlement Systems Department, Banka Slovenije

Samo Lučev graduated at the Faculty of Economics and Business in Maribor and has been working at Banka Slovenije since 2007. As a senior supervisor in the Payment and Settlement Systems Department, he is responsible for various tasks related to oversight of payment and settlement systems. In addition, Samo Lučev represents Banka Slovenije as a member of the Payment and Securities Oversight Working Group at the ESCB level. Occasionally, he also collaborates on training activities with the Training Center of the Bank Association of Slovenia and the Center of Excellence in Finance.

• Rudolf Pataki, Head of the Payment Systems Policy Section, Payment Systems Department, National Bank of Slovakia

My main responsibilities include development of payment systems policy, oversight of payment systems, securities settlement systems and payment schemes, preparation of legislation in the area of payment systems and collection of statistical data on payment instruments and payment systems.

Partners

This learning initiative was supported by: