- Grace Brasington, vice-president global banking and financial markets, IBM Cognitive Solutions/Risk and Compliance
- Atul Gupta, managing director, MUFG Americas
- Neelam Jolly, director of regulatory compliance, Meridian Credit Union
- Joshua Kotok, chief risk and compliance officer, First Savings Mortgage Corporation
- Moderator: Joel Clark, consulting editor, Risk.net
The financial crisis of 2008 unleashed a wave of new regulation that touches nearly every aspect of banks’ operations. With so many complicated new requirements to understand, analyse and implement on a global basis, the traditional mechanisms for managing compliance are fast becoming outdated. Common mistakes include the duplication of controls, gaps where controls should be and a lack of sophistication in the implementation of new technology and processes.
In this environment, there is a case to be made for exploring the potential benefits of machine-learning and artificial intelligence tools to streamline regulatory projects. If used properly, such technology can be used to review regulations and identify potential obligations in a safe and effective way, eliminating the potential for control gaps and duplication.