Jacek Jastrzębski, Chair of the KNF, delivered opening remarks at the 17th Congress of Banking Law and Financial Technologies. The event is organised by the Banking Law Students Association at the Faculty of Law and Administration of the University of Warsaw.

Jacek Jastrzębski has emphasised that the modern financial sector is facing the challenge of uncertainty, and traditional models based on risk management are no longer adequate. For decades, financial supervision and the management of financial sector have been based on the concept of risk, understood as the possibility of estimating the probability of specific events and their effects. Recent years, however, have foregrounded the importance of unpredictable events, known as ‘black swans’. In such conditions, it is of key importance not to predict the future but to build the resilience and adaptability of financial institutions.

In this context, the Chair of the KNF emphasised the importance of interdisciplinarity. Traditional legal and financial competence remains the cornerstone of the financial market but is no longer sufficient. The market and the financial supervision are increasingly based on technological knowledge, data analysis, cybersecurity, social psychology and even geopolitical strategic studies. 

Jacek Jastrzębski urged students and future finance professionals to extend their competencies beyond the classic framework of law and finance. He encouraged them to be open to new areas of knowledge and emphasised that the future of the financial sector would belong to people who were able to combine different perspectives and function in a world of permanent volatility and uncertainty.