Future of Risk Management : Internal Controls, Advanced Risk Analytics, Talent, and Tools
Overview
This white paper addresses the evolving risk management landscape in the banking, financial services, and insurance (BFS&I) industry. It emphasizes the need for a proactive and technologically advanced approach, outlining the role of emerging technologies, regulations, and threats in shaping the future of internal controls.
It also highlights the importance of integrating predictive analytics, machine learning, and talent development to enhance internal controls and risk analytics. Moreover, the document stresses the significance of agility, innovation, and collaboration in creating a resilient risk management framework.
Takeaways
- The evolving nature of internal controls towards more adaptive, technology-enabled frameworks to tackle the complexities of the modern risk landscape.
- The critical role of data analytics and machine learning in predicting and mitigating risks proactively.
- Cybersecurity is a paramount concern, requiring integrated and sophisticated management strategies.
- The importance of talent development in ensuring the industry's readiness to handle future risks.
About Author
Shahzad Merchant
Director – Enterprise Risk Management
Shahzad Merchant is an energetic and result-oriented Audit/Compliance and Risk Management Analyst, who brings a wealth of experience working for top-tier commercial banks. A proven team player, Shahzad Merchant has successfully collaborated on critical projects, demonstrating exceptional relationship management skills that resonate with individuals at all levels of business and management.
As a thought leader in his field, Shahzad Merchant is not just a participant in the financial landscape but a shaper of its future, dedicated to enhancing the robustness and resilience of the financial institutions he serves.