In this episode, Mark is joined by Ole, Aziz Durrani, and Geraldine, all whom have been hosts of Season 2 episodes and they share insights from the podcast throughout 2019, and what they're each looking forward to in the year to come.
“BigTech” in the Financial Sector: More Choice for the Consumer, More Challenges for the Regulator?
SEACEN financial sector supervision experts Mark McKenzie and Glenn Tasky talk with prolific writer and educator Professor Douglas Arner, Kerry Holdings Professor in Law and Co-Founder, Asian Institute of International Financial Law, Faculty of Law, University of Hong Kong, about the entry of BigTech – companies such as Facebook, Apple, Google, Microsoft, Amazon, Alibaba, and Tencent – into the provision of financial services such as lending, payments, and even exotic cross-border instruments such as stablecoins. What are the benefits these big players bring, and what are the risks of allowing firms that are already big in other markets potentially dominate banking as well?
In this special episode in our "Step Up to Lead" series, SEACEN Faculty member from the Leadership and Governance Pillar, Ms. Geraldine Joseph speaks with the former Executive Director of the Centre, Dr Hans Genberg, who is now with the Asia School of Business in Kuala Lumpur.
In this episode, Aziz Durrani speaks to Mr. Findlay Macpherson, who was most recently Head of Commercial Real Estate, Asia Pacific at HSBC and is an ex-Senior Technical Specialist from the Bank of England. Findlay has had a long career in banking, having lived and worked in South Africa, Singapore, Thailand and Hong Kong. Findlay discusses the Commercial Real Estate market across Asia, and risks and issues inherent in this business, as CRE exposures often result in losses and subsequent bank failures if undertaken incorrectly. Findlay also draws on his banking and regulatory experience and talks about how Central Banks and Regulators can effectively supervise institutions in the current climate, as they implement Risk Based Supervision, Basel III, IFRS 9 and deal with a range of other challenges.
In this episode, Aziz Durrani is in conversation with Mr. Philip Stedman, CEO of Snoocode and Managing Director of Stedman Denny. Phil was previously a senior Technical Specialist at the Bank of England, where he worked alongside Aziz for 6 years, following the 2007/8 Financial Crisis. They discuss Phil’s background and expertise in emerging markets and talk about the key lessons he has learned from analysing corporate transactions and lending structures in developing economies, issues around identifying non-performing loans, how to challenge banks’ senior management and lessons and guidance Supervisors can draw from this in their day-today role.
In the run-up to the SEACEN Centre’s Policy Summit on Cyber Risk, held on 13-14 June 2019, Aziz Durrani, Senior Financial Sector Specialist at the SEACEN Centre, caught up with Malik Kotadia, one of the panellists at the summit. They discuss some of the key developments, issues and risks in the FinTech, cryptocurrency and blockchain world, as well as how banks and regulators should be responding to them.
In this Podcast, Glenn Tasky, SEACEN’s Director of Financial Stability and Supervision / Payment and Settlement Systems, interviews Stephen Scott and Jeff Kupfer of Starling Trust Sciences, LLC. Starling is a behavioural sciences company that utilizes technology to assist in the evaluation of culture of organizations, including banks and other financial institutions. These evaluations can reveal deficiencies in a bank’s culture that may point to heightened misconduct risk. The Starling executives discuss the most prominent and most recent banking scandals, and emphasize that culture within a bank (or any firm) is contagious, and both executives and employees take their cues from their peers – not necessarily from laws, regulations, and best practices – in deciding on a course of action.
In this 2nd episode in our series on Cybersecurity, Dr. Ole Rummel and Mr. Mark McKenzie spoke with Puan Jessica Chew, Deputy Governor of Bank Negara Malaysia responsible for financial stability which covers the regulation and supervision of banks, insurance companies, payment systems and money services. The main subject of this conversation is cyber risks and financial stability. It was recorded as part of our lead up to the SEACEN Centre's Annual Policy Summit on Central Bank Leadership in Combating Cyber Risk in Kuala Lumpur, Malaysia, 13 -14 June 2019.
Dr Ole Rummel interviews Glenn Tasky, Director of the Financial Stability and Supervision/Payment and Settlement Systems pillar of the Centre about issues in Cybersecurity and Central Banking. This is part 1of 2 podcasts which lead up to the SEACEN Centre's Annual Policy Summit to be held in Kuala Lumpur, Malaysia, on 13 and 14 June 2019.
Dr. Rummel and Mark kick off the new year by recapping the topics we covered in the podcasts we did in 2018, including some clips from the various interviews we conducted. Also a sneak preview of next month's podcast!
Errata: During the recording of this podcast, Mark McKenzie incorrectly made reference to a “recent IMF Paper” between 20.16 – 20.20 mins, 24.30-20.34 mins and 32.56-33.00 mins. Please note the correct reference is: Bank for International Settlements (BIS) Working Papers No 765 “ Beyond the doomsday economics of “proof-of-work” in cryptocurrencies” by Raphael Auer of Monetary and Economic Department published in January 2019. The paper is available at https://www.bis.org/publ/work765.htm
Initial 7 seconds of "We're back online" by Kaptin_Random, from Freesound.org (https://freesound.org/people/Kaptin_Random/)used under the following Creative Commons license (https://creativecommons.org/licenses/by-nc/3.0/legalcode) Intro music from Accelerated Ideas (http://www.accelerated-ideas.com/freemusictracks/aisearchtracks.aspx?stxt=intro)
Glenn Tasky speaks to Dr. William K Black, Associate Professor of Economics & Law at the University of Missouri-Kansas City, and author of "The Best Way to Rob a Bank is to Own One". Dr. Black describes the epidemic of “control frauds,” massive frauds at banks that are orchestrated at the highest levels (directors and senior officers). Control frauds were rampant in the United States in the 1980s and have also existed in many other countries. He also discusses the potential for whistleblowing to alert regulators and other authorities about frauds occurring in banks before they get completely out of control.