Hear from Bo Xu, a Principal at Boston Consulting Group (BCG) and a member of GARP’s Risk and AI Advisory Committee, about GenAI use cases and challenges, as well as its impact on modeling, governance, regulation and risk careers. Even though generative AI is in its early days, its already having a big effect in financial risk management. As a powerful, interactive technology that can understand natural language, quickly search through reams of data and provide human-style answer to...

Hear from Terisa Roberts, Global Head of Risk Modeling and Decisioning at SAS and Sarah Murphy, Principal Director of Accenture Data and AI, as we explore real-time customer decision making and what it means for portfolio monitoring. Thanks to the internet and artificial intelligence, consumers today can make financial decisions through multiple channels, resulting in a new level of competitive pressure for the sector. Financial services firms must make decisions that are not only fast and...

Hear from Cristian deRitis, deputy chief economist at Moody’s analytics, about the evolution of stress testing, current trends, and the biggest challenges facing banks and regulators. Regulatory stress tests play a vital role in ensuring that large banks hold enough capital to withstand extreme recessions, while internal stress tests at banks are used for everything from capital and liquidity planning to risk monitoring, risk identification and operational resilience. The 2023 failures of...

Nirav Shah, a founding partner at Versor Investments, speaks with GARP editorial director Robert Sales about the pros and cons of artificial intelligence and machine learning for buy-side institutions. Though significant concerns remain about the bias, fairness an explainability of AI and ML, these innovative technologies have made great inroads in financial services. Banks, for example, now use AI and ML for everything from anti-money laundering to fraud detection to risk modeling and...

Hear from Daniel Wagner, CEO of Country Risk Solutions, about the complexities of the global geopolitical risk landscape. In these volatile and uncertain times, identifying, measuring and managing geopolitical risk is a daunting task. Everywhere we turn, geopolitical struggles are grabbing headlines, whether we’re talking about, for example, the Israel-Hamas and Russia-Ukraine wars, U.S.-China strategic relations, or Red Sea hostilities. These multi-layered events are having a huge...

 In this podcast, Julie Muckleroy, Global Banking Strategist from SAS, and Abraham Izquierdo, Managing Director of Trading and Treasury Risks at Grupo Financiero Banorte, explore the top risk management trends for 2024. With the start of 2024, persistent high interest rates and inflation remain key concerns. Adding to these challenges are potential conflict escalation in the Middle East, threats to global shipping lanes, and historically low water levels in Panama, among others. The...

Hear from Moody’s Analytics’ Cris deRitis about geopolitical risk, cybersecurity, political unease, supply-chain threats, and other key issues that will impact risk managers this year. 2023 was a hectic and extremely challenging year for risk managers. The U.S. regional banking crisis grabbed headlines, with failures being blamed on everything from poor risk culture and ineffective risk modeling to interest-rate volatility – and even to the speed at which news travels in the social media...

Hear veteran risk manager, advisor and professor Clifford Rossi’s viewpoints on trends, threats and opportunities in the commercial and residential real estate markets.  The past couple of years have been an extremely challenging time for risk practitioners charged with measuring and managing real estate risk. In both commercial real estate and residential real estate, concerns have been raised globally about interest rates, inflation and economic uncertainty. Indeed, in a recent Federal...

Hear from Wall Street veteran and author Aaron Brown about the impact of fast-evolving technology on risk management. Financial institutions are now using everything from machine-learning modeling and generative AI to blockchain and public-key cryptography for risk monitoring, measurement and mitigation. What’s more, we can see on the horizon the development of other tools – like central bank digital currencies – that could further alter the landscape. However, each of these technologies...

In this podcast Zeynep Salman, Head of Risk Decisioning, EMEA at SAS, will explore the top trends and market practices for financial institutions as they adapt to digitizing credit decisioning. We will dive deeply into key success factors for establishing innovative credit customer journeys while achieving successful business outcomes that keep the lending business profitable. We will also discuss how a country’s regulatory requirements and market dynamics can affect the transformation...

Is it possible for financial institutions to offer on-demand, superior customer experiences while making risk decisions in near real-time in an increasingly digital and interconnected world? That is the question we’ll explore in this podcast featuring Terisa Roberts, Global Solution Lead, Risk Modeling and Decisioning at SAS, and Bruce Erb, Director – Credit Risk Consulting, KPMG. Traditional financial institutions are encountering additional hurdles, including fierce competition from agile...

Hear veteran risk manager, advisor and professor Clifford Rossi’s perspective on recent turmoil in the banking system, on where risk management fell short, and the profession’s readiness for future challenges. The collapse of Silicon Valley Bank (SVB) and subsequent events inevitably invited comparisons with past crises. It was widely assumed that the damages of 2023 would be more contained than those of the Great Financial Crisis of 2008. But they could similarly leave a long tail, with...

Hear from Dr. Donald van Deventer, Managing Director--Risk Research and Quantitative Solutions at SAS, and Professor Robert Jarrow of Cornell University’s SC Johnson College of Business as we continue our discussion of the current banking climate as it relates to integrated balance sheet management — and specifically asset and liability management (ALM). This special two-part podcast series will explore conditions under which a bank is at risk of a “run” by looking internally at their...

Welcome back for the conclusion of this special two-part podcast series featuring Dr. Donald van Deventer, Managing Director--Risk Research and Quantitative Solutions at SAS, and Professor Robert Jarrow of Cornell University’s SC Johnson College of Business. We continue the discussion of the current banking climate as it relates to integrated balance sheet management — and specifically asset and liability management (ALM). Part two of this series will tackle the following topics: A...

Hear from risk modeling expert Tony Hughes about the parts various risk management techniques played in recent bank failures, as well as the current challenges facing modelers. Risk models have grabbed headlines for all the wrong reasons over the past couple of years, and now they are in the news again thanks to the sudden collapses of Silicon Valley Bank and Signature Bank. People want to know why the internal risk models at these banks did not properly account for interest-rate risk and...

Hear risk management prognostications from Cris deRitis, the deputy chief economist at Moody’s Analytics. Risk managers have been severely tested over the past 12 months. Rising interest rates, supply-chain problems, inflation and heightened geopolitical risk contributed to an environment of volatility and uncertainty, and many financial institutions grabbed headlines for all of the wrong reasons. Operational risk disasters, for example, have cost large banks hundreds of millions of...

Hear from Dr. Donald van Deventer, Managing Director--Risk Research and Quantitative Solutions @ SAS, as we discuss the impact of current market trends on asset liability management With a possible recession looming and inflation near its highest levels since the 1980s, navigating around balance sheet issues remains complex. In this first of a series of podcasts on asset and liability management (ALM) featuring academic and industry experts, we will tackle the following topics: ·        ...

Hear from Alla Gil, the co-founder and CEO of Straterix, as we examine the liquidity risk challenges and trends that have been fueled by extremely rare market conditions. In a recent survey conducted by the Securities Industry and Financial Markets Association, 80% of economists named stagflation – or a combination of high inflation and stagnant growth – as the greatest long-term risk to the U.S. economy. The economists said that stagflation presents an even bigger threat than a 2023...

Hear from Prof. Clifford Rossi as we examine some of today’s biggest financial risk modeling challenges. Risk modelers have recently been befuddled by rare and powerful non-financial events, including the pandemic, geopolitical conflicts, radical weather happenings, and a supply-chain crisis. What are the characteristics and impacts of these unpredictable incidents? In this podcast, University of Maryland professor and GARP CRO Outlook columnist Clifford Rossi will address these issues, and...

In this episode, we’ll explore how AI and advanced analytics can help assess and address climate risk, while keeping the business lights on.

“Fairness in AI” is getting a lot of attention, especially related to credit decisioning, not only for onboarding but throughout the credit lifecycle. This episode explores the intersection of fairness and trust, demonstrates why defining - much less ensuring - fairness is more difficult than it sounds, and provides strategies organizations can use to enable fair and trustworthy AI.

One of the major challenges with effectively developing, deploying, and managing AI systems are often related to the “black box” nature of the model. Specifically, the complexity and non-linear nature of variables in some black-box AI models may be difficult to explain or understand. This includes explainability of the model logic as well as the individual decisions made by the model.

In this episode, we begin a four part series looking at Responsible AI by looking at Alternative Data in risk Modeling. Over the course of the coming months we will also look at Explainable / Interpretable AI, Fairness and Bias in AI, and the new frontier of climate models.  We will conclude the series with a wraps up webcast in January of 2022 - click here to register. To view GARP's DE&I webcast, "Risk Modeling to Further Diversity and Inclusion", mentioned in this episode - click...

Many companies are considering their de-risking options and strategies for pension risk transfer (PRT). PRT is steadily increasing in the U.S. but comes with a high-level liability. Today we speak with Sarvesh Soi, Principal, Wealth Practice at Buck to get insight on the latest strategies around pension de-risking.   Speaker Bio: Sarvesh Soi, FCA, EA, CFA | Principal, Wealth practice, Buck Sarvesh serves as the head of the Financial Risk Management group at Buck. He is a seasoned actuary...