Good morning. It’s a pleasure to be here in Toronto with you. I’d like to extend my sincere thanks to the Information Technology Association of Canada for inviting me.
I welcome this opportunity to talk about the work the Bank of Canada is doing on cyber security and the role of information technology and industry professionals like yourselves. It’s an opportunity to open a dialogue about our common objectives.
In fact, ITAC’s goals and those of the Bank are quite similar. You help Canada achieve a world-class, leading digital society that delivers prosperity and competitiveness in a global market. We help promote the economic and financial welfare of Canada, as mandated by the Bank of Canada Act.
So, we are both interested in the same outcome: a thriving, stable and secure economy for Canada and its citizens. And cyber security is certainly a key factor affecting our ability to deliver on these goals.
The Bank takes its role in safeguarding the financial system against cyber attacks very seriously. However, we can’t tackle these challenges in isolation. We need to collaborate within the financial sector and ultimately throughout the economy to address these very real threats. And while we have made bold steps in working more frequently—and more effectively—with domestic and international partners, much work remains.
Let me start by telling you a bit more about the Bank of Canada’s role in ensuring the resilience of the…