2025-08-05 – 18:30-19:15 (Africa/Abidjan), Florentine A
Cyber threats have evolved into a credible risk to global financial stability. This talk explores why a sophisticated, well-timed cyberattack could act as the spark for the next financial crisis—exploiting vulnerabilities not just in the financial system, but in the very IT and information security operations on which the system relies.
Cyber threats have evolved into a credible risk to global financial stability. This talk explores why a sophisticated, well-timed cyberattack could act as the spark for the next financial crisis—exploiting vulnerabilities not just in the financial system, but in the very IT and information security operations on which the system relies. Financial institutions are deeply interconnected, not only through markets but also through shared technology stacks, third-party service providers, and critical infrastructure. The widespread adoption of digital platforms, combined with economies of scale, has concentrated core technology functions in a small number of providers, creating single points of failure with limited redundancy. This talk explores how these dynamics are reshaping risk in the financial sector—and why the next financial crisis might begin not with a market shock, but with a keyboard stroke.
Stacey Schreft is an accomplished macroeconomist with extensive experience in the public and private sectors. She currently serves as Senior Research Scholar at the University of Maryland’s Robert H. Smith School of Business’ Center for Financial Policy, advising on financial system and cybersecurity risk, operational resilience, digital assets, and monetary policy. Previously, Stacey served as Deputy Director for Research and Analysis at the U.S. Treasury Department’s Office of Financial Research. In this role, she led initiatives that significantly enhanced the data and analytics used to assess risks to the financial system. As a member of the Financial Stability Oversight Council’s Deputies Committee, she played a key role in cross-agency risk identification and policymaking. While on detail to the Federal Reserve Board of Governors, she led an effort to strengthen the financial system’s cybersecurity and operational resilience. Prior to the OFR, Stacey held senior leadership positions in the financial sector, first as Director of Investment Strategy at a national registered investment advisor, and later as Chief Economist at an institutional investment management firm. Earlier in her career, she was an officer and economist at the Federal Reserve Banks of Kansas City and Richmond.