TFI recently welcomed Vanguard Investments Canada Inc. to our membership network. We caught up with Kathy Bock, Managing Director and Head of Vanguard Canada to learn more about Vanguard's Canadian business and the role of innovation in today's fast-paced and changing financial market.
If you are a business leader struggling to land talented candidates for vacant finance and accounting roles, it is likely that you have noticed the labour pool getting smaller. Job seekers with the advanced technology skills you need get snatched up as soon as, or even before, they hit the job market. As a hiring manager, it makes finding the right person for the job increasingly difficult. And you are not alone. Research for our latest Benchmarking Accounting & Finance Functions report reveals that 9 in 10 Canadian CFOs have difficulties finding qualified candidates for these positions.
Last month, we had the honour of launching the new . The event, held at theSmith School of Business’ downtown Toronto facility, was filled with over 100 of our peers and colleagues from academia, government, and the financial industry. We were pleased to have Toronto Finance International (TFI)’s support in communicating the importance of advancing sustainable finance expertise in Canada in the lead up to the event and we look forward to continuing to work with TFI to move the dialogue on sustainable finance forward.
Written by Scott Farrell - Senior Partner at King & Wood Mallesons, Co-chair of the Australian Government's FinTech Advisory Group and Leader of the Australian Government’s review into Open Banking
The law to establish the Consumer Data Right (CDR) has been passed by the Australian Parliament. The way is now clear for Open Banking to start in Australia, as the first implementation of the CDR. After so much work has gone into the development of CDR and Open Banking, Australian customers will soon have the right to ask for their data to be shared with others they choose to trust.
More on the House of Commons report: Cybersecurity in the Financial Sector as a National Security Issue.
In June 2019, the Canadian House of Commons delivered a Report of the Standing Committee on Public Safety and National Security, entitled, Cybersecurity in the Financial Sector as a National Security Issue.
The cybersecurity skills shortfall was addressed in the report, with insights from other jurisdictions (Australia and Israel) and some samples of good work being done in Canada to help alleviate the cyber skills shortage. Toronto Finance International’s (TFI’s) own report, The changing faces of cybersecurity: Closing the cyber risk gap, completed in partnership with Deloitte, was referenced, as a source to quantify the magnitude of the skills shortage. Our research indicates that Canada will need to fill 8,000 cybersecurity roles between 2016 and 2021.
For decades, the appeal of working abroad and career advancement goals have lured some of Canada’s top homegrown financial services talent to global financial centres such as New York, London and Hong Kong. At the same time, Toronto has been attracting talent from around the world who want to contribute to, and benefit from its vibrant, growing financial services and fintech ecosystem, and experience the high quality of life that it offers.
Increasingly, HR leaders are being tasked with building their organization’s future workforce – one with the skills needed to effectively leverage rapid advancements in technology, to propel their business forward in today’s progressively competitive environment.
What is Sustainable Finance?
Sustainable Finance can be defined as capital flows, risk management activities, and financial processes that assimilate environmental and social factors as a means of promoting sustainable economic growth and the long-term stability of the financial system.
Source: TFI Newsletter February 2019 Edition
TFI launched The ASPIRE Challenge in October 2018; a competitive, industry-led innovation challenge designed to attract 2nd year post-secondary students to Financial Services and showcase innovation within the sector. The Challenge was built to incorporate meaningful employer interaction and feedback into every stage, providing all participants with solid work-integrated learning (WIL) experience and increasing the number of WIL opportunities available to students within the GTA.
Source: TFI Newsletter December 2018 Edition
Rotman School of Management, in partnership with TD Bank, are working to develop a Financial Acumen Development Program for Women. This program will complement Rotman’s many programs within its Initiative for Women in Business, which has been committed to strengthening the female talent pipeline since 2008. The purpose of this Financial Acumen Development Program is to help women working in Canada’s Financial industry improve their Analytical Thinking and Financial Acumen Skills.