In a post-COVID-19 world, proactive model risk management by all lines of defense is needed now – not only to meet new regulatory expectations, but also to strengthen institutional resiliency.
The financial markets are still experiencing the aftershocks of the pandemic, with volatility remaining above long-term average rates.
The impact of the global pandemic on banking business operations has uncovered some unexpected flaws in the models that institutions rely on to operate their businesses.
Businesses across every industry will need to adopt AI in order to remain competitive in the current market but implementation can be fraught with risk.
The COVID-19 pandemic has revealed deep flaws in some widely used advanced analytics techniques.
Banks have traditionally considered financial crime and fraud as two distinct categories of risk. But as these crimes become increasingly sophisticated, the traditional boundaries between them are becoming blurred, meaning that banks need to align their approach to dealing with them.