How has a risk-based regulatory environment altered your relationships with regulatory bodies?

Johnson, Diana

Abstract

Financial crime regulation has moved from an environment where regulators expect specific activities, to one which is outcome based, with a degree of flexibility on how these outcomes are reached. This shift has dramatically changed anti-financial crime approaches, and, along with the development of new technologies, creates a unique set of challenges for those leading the anti-financial crime or compliance strategies within a financial institution
· How much knowledge do you need to have of the functionality and inner workings of the technology you wish to invest in?
· Does the fact that technology is advancing quicker than the regulators’ understanding of it create inherent challenges when it comes to their acceptance of truly nascent technology use for financial crime risk management? How do you overcome this challenge and use best-in-class systems whilst keeping the regulators onside?
· Will the amazing potential from increasingly complex AI technologies mean the skillset across a compliance team has to broadly into a more “technologist” position?

• Presentation Conference Type: Keynote
• Conference Name: Anti-Financial Crime Exchange UK
• Start Date: Mar 18, 2024
• Deposit Date: Mar 18, 2024
• Public URL: https://uwe-repository.worktribe.com/output/11830720
• Additional Information: Keynote Panel discussion with Igor Sumkovski, Tushar Chahal and Chris Oakley.