event description

Financial sector has leveraged on technological innovations to provide financial services efficiently and to the hitherto financially excluded. This has resulted to expansion in the access to financial services especially to the poor and micro small and medium size enterprises. The gains in financial inclusion have unintended consequences to the financial services providers and consumers of financial services. Financial services providers are predisposed to fraud and cyber-attacks, while consumers of financial services are exposed to fraud and predatory services, which undermine their income growth and ability to meet their financial obligations. The entry of the non-financial firms in the financial sector is increasing competition in the financial sector, reducing market share of financial institutions and introducing viability risks.

In addition, climatic changes have increased physical and transition costs, while financial institution are increasing being held accountable for the consequences of their financial intermediation activities on the environment. The regulators have issued guidelines to supervised financial institutions to incorporate climate change risks in their risks management frameworks. The vulnerability of the financial sector to cyber, fintech and climate change requires formulation of financial sector policies to mitigate the risks and enhance the resilience of financial institutions to shocks.  Hence, the main objective of this course is to enhance capacity of policy markers to assess climate change, cyber and fintech risks to the financial sector. This will enable formulation of financial sector policies that enhance the resilience of the financial institutions. 

Target Audience 

The target group include staff undertaking economic and financial sector risk assessment, staff conversant with stress testing and financial institution supervision.