Systemic Risk in Finance – a series of four remote lectures
We invite everyone to a series of four lectures entitled “Systemic Risk in Finance”, led by Grzegorz Hałaj, PhD - Adviser and Stress Test Expert at the European Central Bank and an expert at AI Lab SGH. The lecture series is held under the patronage of the Committee on Statistics and Econometrics of the Polish Academy of Sciences.
The lectures will take place online, every Tuesday in May, from 1:30 to 3:00 p.m.
This cycle of lectures aims to present a structured approach to measuring, managing, and regulating systemic risk, to equip risk managers and policy makers with tools to increase effectiveness of their work. It is also to provoke a discussion on the complexity of the financial system and challenges, and limitations, of the current approaches to disentangling financial interconnectedness, and to inspire researchers to pick up on some of the open problems highlighted in the series, promoting a sound research-based approach to systemic risk modelling. The content draws on the lecturer’s 20-year experience in research and active policy work in this field.
Plan of the lectures:
- 5 May Systemic risk in Finance - Lecture 1 | Meeting-Join | Microsoft Teams
Systemic risk: definitions and foundations of the quantitative methods
Financial system as a network: graph representation of connectivity - 12 May Systemic risk in Finance - Lecture 2 | Meeting-Join | Microsoft Teams
Partial information: financial network reconstruction methods
Yardsticks: systemic risk measures - 19 May Systemic risk in Finance - Lecture 3 | Meeting-Join | Microsoft Teams
Shock transmission: role of the financial networks
Financial agents’ behaviours: emergence of systemic risk - 26 May Systemic risk in Finance - Lecture 4 | Meeting-Join | Microsoft Teams
Scenario analysis: stress tests and calibration of macroprudential measures
Ways forward: complex financial system as a whole
Grzegorz Hałaj has been working for the ECB Banking Supervision since the end of 2022 where, as well as heading teams on market risk and liquidity risk stress testing, he held an advisory role in SSM thematic and EU-wide stress tests, and was a member of the steering body of the pan-European stress test activities run by the European Banking Authority. GH is also a member of the AI Lab of the Warsaw School of Economics. He began his central banking career as an Economist at the National Bank of Poland in 2004, later moving to a major universal bank based in Warsaw as chief specialist in a new asset and liability management unit. In 2011 he joined the ECB as a Financial Stability Expert and was later a member of the ECB stress testing team supporting the Troika programme in Cyprus. In 2018 he moved to Bank of Canada, initially to take up a Principal Researcher role with focus on stress test tool enhancement, and was subsequently appointed to two managerial roles at the Bank of Canada before returning to the ECB in 2022. GH holds a PhD (with habilitation) in Economics and Finance from the Warsaw School of Economics and a Master Degree in Mathematics from Warsaw University.
We announce the launch of the second edition of Skills of Tomorrow: AI 2.0 –
program implemented by Google in collaboration
with SGH Warsaw School of Economics.
Become an AI pioneer in your company. Join a free 5-week training program:
- learn the fundamentals and AI tools that boost productivity,
- discover how to leverage AI to grow your business,
- earn a certificate from Google and SGH.

What's new in edition 2.0?
- over 25 hours of updated content: webinars and hands-on experience led by experts from Google, SGH, and business practitioners,
- a broader range of topics: from personal productivity and AI agents to process automation, and full-scale business transformation with AI,
- open to students eager to gain AI-related skills,
- practical tools and strategies ready for immediate implementation.
Who's this program for?
- professionals and business owners from the small and medium-sized enterprises (SMEs),
- students looking to develop AI skills to start an internship or career in Polish SMEs.
The program is conducted in Polish. Learn more about the previous edition.
❗️Limited spots available! The program kicks off on September 8, 2025. ⌛Applications are open until September 2, 2025 at 11:59 PM.
For more information, visit the organizer's website.
Episode 6 of SGcHat in the #AILab series
How is AI transforming the way businesses operate from the perspective of a consulting company?
For the sixth episode of SGcHat in the #AILab series, closing the second season, we invited Agnieszka Śpionek and Adam Spławki from Mastercard Data & Services. The discussion was hosted in the studio by Prof. Bogumił Kamiński, PhD, Director of the AI Lab SGH.
Both Agnieszka Śpionek and Adam Spławski have many years of experience in the sphere of consulting services for clients from Poland and abroad.
During the discussion, Prof. Kamiński's guests tried to answer the question of how the scope and use of the latest technologies, including solutions related to artificial intelligence, looks like in Poland and compared to other European countries. They also considered the changes affecting companies' demand for consulting services due to the current AI revolution and how consulting companies use these tools in their projects.
Podcast is available on streaming platforms:
🟢 Spotify 🔴 YouTube 🟣 Apple Podcasts
