Future of Risk Function
AICB and Oliver Wyman held their 2nd webinar collaboration of the year on 15 Sept 2021 @ 10 am, titled Future of Risk Function”. The panel of speakers, David Howard-Jones, Partner – Finance and Risk of Oliver Wyman, Australia and Darina Yusof, Country Chief Risk Officer and Head of Operational Risk at Standard Chartered Bank Malaysia Berhad, shared insights into how risk functions need to continue evolving to serve and protect value in organisations. Highlights of the discussion centred on how risk functions must be quick to identify, and manage for, an acceleration in the emergence of new risk types, e.g., climate risk, culture risk, and model risk associated with automation and deployment of more complex and opaque analytics, and because the core pillars of the risk function already include cloud-based platforms and tooling, tight integration with technology throughout the model lifecycle, and advanced analytics, risk teams will need the right people and skills to adopt digital technology. The webinar was attended by close to 250 participants.