1st Foundational training week – III cycle

Dates

30/09/2024 - 03/10/2024

Location

Florence

Level

Foundational training

Delivery mode

Residential

Course materials (registered participants only)

The third-year edition of the foundational course of the EU Supervisory Digital Finance Academy (“the Academy”) provides participants with fundamental knowledge of the main areas of digital finance, as well as the essential practical skills to enable effective supervision of the application of digital technologies in finance by credit and financial institutions and supervisors’ use of technology (SupTech). The course – the cornerstone of the Academy – aims to enhance the supervisory convergence across the internal market while supporting the transition toward a competitive, digital EU financial sector.

The structure of the foundational training course rests on three building blocks. First, the sessions focus on technological advances and the development of new business models driven by the use of new technology in financial products and services. These sessions explore the main technologies in digital finance, including AI, Big Data, and Distributed Ledger Technology (DLT). They focus on the challenges and risks stemming from the use of these technologies in the markets, as well as on the new opportunities, in particular from a consumer perspective (choice and convenience), and their application in RegTech and SupTech solutions. Second, the sessions comprise the policy block, they follow the most recent regulatory response at the EU level, and introduce the new regulatory instruments implementing the European Digital Finance Strategy, including the regulation of markets in crypto-assets (MiCA) and digital operational resilience (DORA), as well as guidelines published by the ESAs and delegated acts. These sessions include a discussion on regulatory and supervisory responses and the implications of the evolving regulatory framework on supervision. Third, the practical block bridges and complements the knowledge and understanding of the new technology and regulatory and supervisory responses, to equip participants with a set of practical skills for the supervision of digital finance in Europe by means of case studies and other practical exercises. The practical block will provide supervisors with the necessary skillset for operating within the new supervisory and oversight frameworks in digital finance.

The structure of the foundational training course follows a holistic and cross-sectoral approach covering financial institutions (including credit, insurance, and securities sectors) to ensure the learning journey is in line with the objectives of the Academy.
The programme is ideated and designed in cooperation with the European Supervisory Authorities (ESAs) and the European Commission (DG REFORM and DG FISMA).

Session 1: Digital transformation of financial services
Session 2: Digital business models and Consumer Protection
Session 3: Intro to AI and AI use in Financial Services
Session 4: The risks and benefits of AI for consumers
Session 5: The AI Act
Session 6: Group activity on tech-driven business models in financial services
Session 7: Cybersecurity and cyber risks for consumers
Session 8: Cybersecurity overview
Session 9: Digital Operational Resilience (DORA)
Session 10: Group activity on a Cyber Risk Framework for the financial sector – Part 1
Session 10: Group activity on a Cyber Risk Framework for the financial sector – Part 2
Session 12: DeFI, Tokenisation, and Crypto-Assets
Session 13: Interactive session on the risks of crypto and consumer protection
Session 14: Markets in Crypto-Assets Regulation (MiCAR)
Session 15: MiCAR Group Exercise
Session 16: NCAs sharing best practices
Session 17: Innovation Facilitators – Group activity + debrief
Session 18: Outside of the EU – sharing NCAs experience
Session 19: Envisioning the future: cross-sectoral trends and priorities in digital finance

Logistics

The foundational training weeks will be held at the FBF, within the premises of the EUI (Florence, Italy).
Each course will start on a Monday at 9 am and will end on a Thursday, approximately at lunch time.
FBF will reimburse travel in economy class (up to 450 euros) and accommodation for the duration of the course (up to 4 nights and up to a given ceiling), local public transportation and taxi expenses up to 100 €. Lunches, coffee breaks and a social dinner/activity, as indicated in the programme of every training week will be directly covered by FBF.
Accommodation expenses will be reimbursed to participants after the event according to the following ceiling: up to EUR 200 per night (city tax included), for a maximum of 4 nights

Training participants are responsible for booking both their flight and their accommodation in Florence. These expenses will be reimbursed after the end of the event upon the upload of the travel documentation and the relevant invoices (including boarding passes) to the online EUI reimbursement application (link and instructions will be duly shared with participants after the end of the event).
A list of conveniently located hotels will be provided to participants, but they are of course free to book hotels other than the ones suggested. In both cases, participants will be reimbursed up to the agreed ceiling and for single occupancy.
If participants book a hotel and share a double room, they must ask for the single room rate to be indicated on the hotel bill. Failing this, 25% of the price of the double room will be deducted from their reimbursement.
Participants can book their accommodation also on Airbnb, but in case they share the apartment with other people, the reimbursement will be divided by the number of guests.
A private transportation service will be provided, and a pick-up/drop-off point will be located in a convenient location in town that will be communicated in advance (participants are responsible for their own transportation to and from the training venue on the first and the last day, respectively)