Date:
July 12, 2023
Time:
10:00 - 11:00 a.m. EDT
3:00 - 4:00 p.m. BST
Presented By:
Michael Grimwade
Managing Director, Operational Risk at ICBC Standard Bank
Session Length:
60 minutes
The digital revolution is being driven by the confluence of technological advances (e.g. 5G and then 6G, AI, increased processing capacity etc); competitive pressures from BigTech & FinTech; societal change, as younger generations are more willing to use new technologies & providers; and the need to improve efficiency to maintain profitability. Banks that do not embrace these changes are at risk of suffering customer & revenue attrition.
This digital revolution will both generate new Operational Risks, as well as, amplifying existing risks. Key drivers of these changes include: the digital transformation process itself, model & data risks associated with AI; and 3rd party risks including disruption, data leakage and contagion. Finally, whilst these technologies can be used to enhance a bank's controls, they may equally be exploited by criminals. These risks are illustrated with a wide range of case studies.
The webinar concludes by highlighting the need for firms to enhance existing risk management frameworks for: model risks, supplier risk management, fraud, and operational resilience.
| About Our Expert |
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Michael Grimwade is Head of Operational Risk for ICBC Standard Bank and has previously held senior Operational Risk management roles at MUFG Securities, RBS ,and Lloyds TSB. Prior to this, Michael was a management consultant with PwC and Deloitte Consulting, and he has also been a Director of the Institute of Operational Risk.
Michael is the author of a number of articles on scenario analysis techniques, Climate Change, quantifying emerging risks, and modelling Operational Risk capital. He received an award in 2014 from the Institute of Operational Risk for his contribution to the profession. His second book, “Ten Laws of Operational Risk: Understanding its Behaviours to Improve its Management,” was published in December 2021.
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| Continued Risk Learning Credits: 1 |
PRMIA Continued Risk Learning (CRL) programs provide you with the opportunity to formally recognize your professional development, documenting your evolution as a risk professional. Employers can see that you are not static, making you a highly valued, dynamic, and desirable employee. The CRL program is open to all Contributing, Sustaining, and Risk Leader members, providing a convenient and easily accessible way to submit, manage, track and document your activities online through the PRMIA CRL Center. To request CRL credits, please email [email protected].
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Registration |
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Price |
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Members (Sustaining, Corporate, RIM & Contributing)
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COMPLIMENTARY |
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Non Member |
$30 USD
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