This webcast aired on October 19, 2023.
CPE Credit(s): 1

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With the scare of a Silicon Valley Bank-led financial contagion averted, operational risk has returned to the forefront of chief risk officer (CRO) and risk management priorities.

Regulatory focus on operational resilience is highlighting the need for decisive, coordinated responses to new threats that are executed quickly across the organization. Firms are focused on next-generation data management techniques to support artificial intelligence (AI) enablement in risk. Financial crime compliance—anti-money laundering and know your customer (KYC)—is being transformed through the broad adoption of machine learning and early use cases for generative AI.

All this is making digitizing the risk back office a continuing priority and a central driver for risk technology investment through 2023 and beyond.

In this webinar, Ian Watson (global head of risk, Celent); Neil Katkov (director, risk, Celent); and Jeff Lundberg (Principal Product Marketing Manager, Hitachi Vantara) explore the critical technology priorities and investment areas that will shape the future of risk and compliance in financial services.

Key takeaways:

  • When it comes to risk and compliance, what are the biggest priorities for CROs and what does this mean for their technology strategy?
    • Data foundations of AI
    • Tech transformation to support operational resilience
    • Moving from tick-the-box compliance to effectively combating financial crime
  • Looking to the future: How will technology alter the risk landscape for financial institutions? How will the risk landscape alter technology priorities for the next 3-5 years?
    • Private-public partnerships and information sharing
    • AI and better detection
    • Generative AI risk use cases at the vanguard
  • Which risk and compliance technologies and product areas top the agenda for investment in 2023-24?
    • Improving risk data management, architecture, and analytics
    • KYC and fraud: The biggest financial crime investment areas
    • Operational resilience and governance, risk, and compliance

Ian Watson, Analyst – Celent
Neil Katkov, Analyst – Celent
Jeff Lundberg - Principal Product Marketing Manager - Hitachi Vantara