2018 News & Media Releases
How Canada can close the cybersecurity talent gap
"Globally, cyberattacks have increased 38 per cent since 2014, with the annual cost estimated at up to US$1-trillion. With that in mind, it is no surprise that cyber-risk ranks as the top economic peril among Canadian CEOs. The rapid pace of technological change requires companies to constantly improve their cybersecurity capabilities. As the number of cyberattacks increases, the resources dedicated to protecting organizations also rises." - Jennifer Reynolds writes for The Globe and Mail on understanding the demand for cybersecurity talent in Canada.
Read the Full Article Here
WAIFC – New global strategic alliance to facilitate cooperation and economic growth
Financial services leaders from around the globe, including TFSA's President and CEO Jennifer Reynolds, assembled in Paris on July 12, 2018, to announce their strategic alliance under the newly-formed World Alliance of International Financial Centers (WAIFC) - a global organization created to facilitate cooperation and exchange of best practices across financial centers - and to finalize WAIFC's common objectives ahead of the signing of WAIFC's Charter and Statues by all members in September. This new alliance will greater enhance Toronto's reputation as a global financial centre and establish stronger relationships with other financial hubs worldwide.
Read the Joint Communique Here
New report introduces innovative framework to grow Canada’s cyber talent supply
The world is facing a cyber talent deficit that is limiting our ability to harness the full potential of emerging technology. However, Canada has an opportunity to lead by taking a strategic "human" approach to tackling the problem, according to a new report released today by Deloitte in collaboration with the Toronto Financial Services Alliance. The changing faces of cybersecurity: Closing the cyber risk gap sheds light on the severity of the issue globally, with a focus on Canada, where demand for cyber talent is estimated to be increasing by 7% annually. At a sector-level, 74% of the FS executives we surveyed are challenged to find the right mix of technical, analytical and soft skills for cybersecurity roles within their organizations. This report introduces a human-centric cyber talent framework that seeks to help tackle that problem, providing a common reference point to better plan within a rapidly evolving technological environment.
Full Press Release
Announcement of Ontario FinTech Accelerator Office led by TFSA
Ontario is opening a new FinTech Accelerator Office this November to connect startups to businesses and provide support that will help grow the province's financial technology (fintech) sector. The Toronto Financial Services Alliance will partner with the Ontario Centres of Excellence and OneEleven to develop the FinTech Accelerator Office.
Full Press Release
Major Tech Conference Collision Moves to Toronto in 2019
North America's fastest growing tech conference will be moving to North America's fastest growing tech region when Collision heads to Toronto next year. The move secures Collision in Toronto for the next three conferences happening in 2019, 2020 and 2021, building on the Toronto region's momentum as a hub for technology and innovation and leveraging the strength of Ontario and Canada as diverse and inclusive.
Full Press Release
Leading Finance Centres Agree Action Plan for Green & Sustainable Finance
For the first time, a significant number of the world's leading financial centres have agreed a shared strategy for accelerating green and sustainable finance. TFSA President and CEO Jennifer Reynolds attended the inaugural meeting of the international network of Financial Centres for Sustainability (FC4S) which brought together 16 member centres - Astana, Casablanca, Dublin, Frankfurt, Geneva, Hong Kong, Liechtenstein, London, Luxembourg, Milan, Paris, Shanghai, Shenzhen, Stockholm, Toronto and Zurich - as well as a wide range of observers and partner organisations.
TFSA Welcomes Announcement of Expert Panel on Sustainable Finance
The federal government announced on April 12th, 2018, the creation of the Expert Panel on Sustainable Finance which will consult members of the business community about the opportunities associated with sustainable finance.The Expert Panel will also explore the opportunities and challenges for companies facing voluntary standards for corporate disclosure of the financial risks associated with climate change. "Canada's financial sector is playing a strong role in supporting actions to address climate change," said Jennifer Reynolds, President & CEO, Toronto Financial Services Alliance (TFSA).
Full Press Release
Toronto Financial Services Alliance Welcomes the Government of Canada's Support to Create More Student Work Opportunities for Post-Secondary Students in Financial Services
The Government of Canada is providing almost $2.1 million over a three-year period to Toronto Financial Services Alliance (TFSA) for ASPIRE, our work-integrated learning pilot project in financial services (FS), which aims to attract, up-skill and retain post-secondary students developing in-demand skills in the fields of Science, Technology, Engineering, Arts, and Mathematics (STEAM). TFSA is leading the project on behalf of the FS sector. The funding is part of the Government's Student Work Placement Program, which will distribute a total of $73 million over the next four years to recognized industry associations that represent the interests of businesses in key sectors across the country. TFSA will use the funds to scale up ASPIRE, which was designed in collaboration with our industry and academic members, and launched last April. The Government's support will enable us to increase employer and academia engagement, and offer more students more opportunities to gain...
Full Press Release
Unlocking the human opportunity: Future-proof skills to move financial services forward
Given that Toronto is the second largest financial centre in North America, employing over 270,000 people, it is critical for companies in the financial services sector in Toronto to ensure they have the right people and skills to succeed in the future. To do this, financial institutions need to understand the key trends shaping the financial services sector, how trends are changing the nature of work, and the impact any changes will have on the demand for specific skill sets. This report seeks to build a better understanding across each of these areas in an effort to provide business leaders with insights and practical recommendations to move their organizations forward, while also giving people looking to enter the sector a view into areas of opportunity and the critical skills they need to thrive.
Ontario Students' Perceptions of Financial Services Careers
To provide insight into Ontario post-secondary students' perceptions of the Financial Services sector as a career destination, Toronto Financial Services Alliance (TFSA) commissioned data from Univerum, a leading researcher of student viewpoints. As the early-stage talent strategies of Canadian Financial Institutions continue to respond to emerging technology and related trends impacting their businesses, recruiters are stepping up their efforts to attract students with a broader range of in-demand skills, including those being developed within Science, Technology, Engineering, Math, and Liberal Arts programs. To support these recruitment efforts, this report examines students' career goals and values, and the characteristics of their employers of choice, through the comparative lens of "future" and "lost" talent.
Toronto’s Financial Services Sector will be key player in global public-private partnerships to address infrastructure gap
Toronto’s financial sector is uniquely positioned to help governments across the globe leverage public-private partnerships (P3) to address the growing infrastructure gap in Canada, finds a new report from the Toronto Financial Services Alliance (TFSA) in collaboration with KPMG in Canada. The report, Knowing When to Partner, ranks Toronto’s financial services sector only behind New York and London in its strength and ability to provide the expertise and funding to deliver on these large-scale capital projects.
World Economic Forum in Davos needs to foster spirit of openness on free trade by BMO CEO, Darryl White
Next week, businesses, government leaders and researchers will be participating in the annual World Economic Forum in Davos, where the topic is "Creating a Shared Future in a Fractured World." This gathering in Europe takes place while the next round of North American free-trade agreement negotiations - widely expected to be one of the most consequential and where a U.S. termination is a real risk - occurs in Montreal.
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