Artificial Intelligence and Machine Learning in Financial Services: Risk Management Considerations (OnDemand)

Artificial Intelligence (AI) and Machine Learning (ML) have already transformed the world in several ways. From AI-enabled smartphone features and traffic flow and safety monitoring to predicting the spread of COVID-19, AI and ML have become ubiquitous in our daily lives. The transformative nature of AI and ML, and the increasing pace at which these technologies are adopted have impacted how compliance professionals and risk managers perform their responsibilities. Regulators also are moving quickly to ensure that existing laws and regulations account for the use of AI and ML and determine whether new rules and frameworks are needed. In the third part of its series on this topic, Artificial Intelligence and Machine Learning: Risk Management Considerations, the New York City Bar Association’s Compliance Committee focuses on the use of AI and ML in the financial services industry with special attention to risk management considerations. Program participants will hear from experts in risk management at financial institutions of varying sizes, consultants who advise clients, and regulators in the banking and securities industry on: (i) the range of uses of AI and ML in financial services, including uses by compliance and other risk management professionals; (ii) the determinations risk managers must make when relying upon AI/ML; (iii) the considerations for risk management professions in reviewing/using AI/ML, especially from a model, compliance, and operational risk perspective, among others; (iv) the existing and proposed governance, controls, and risk management frameworks covering AI/ML; and (v) the challenges financial institutions face with the current regulatory framework(s) and opportunities for regulators to react to those challenges through further supervision, guidance and regulation.

Program Fee:
$149 for Members | $249 for Nonmembers

Moderator:

Alexey Surkov
Partner (Trustworthy AI Services & Model Risk Management), Deloitte & Touche, LLP

Faculty:

Kevin Greenfield
Deputy Controller for Operational Risk Policy, Office of the Comptroller of Currency (OCC)

David Palmer
Senior Supervisory Financial Analyst, Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System

Harsh Singhal
Managing Director, Wells Fargo (Model Risk)

Alexey Surkov
Partner (Trustworthy AI Services & Model Risk Management), Deloitte & Touche, LLP

Haimera Workie
Vice President and Head of Financial Innovation, FINRA, Office of Financial Innovation

12:00 pm – 12:15 pm
Opening Remarks & Introductions

• Introduction
• Today’s Objective / Industry: At a Glance
• Panel Discussion Format

12:15 pm – 12:45 pm
AI Use and Risk

• Financial Services Institutions AI Use Cases and Technology
• Types of Risks Emerging From AI Use
• Industry Maturity in Development, Use, Check & Challenge, etc.

12:45 pm – 1:15 pm
AI Risk Management/Governance

• Governance Structures
• Roles & Responsibilities / Stakeholders
• Risk Management Activities
• Reporting / Communication

1:15pm – 1:45pm
Regulatory Outlook

• Outlook by Agency (Fed, OCC, FINRA)
• Bank Perspectives (WF, Regions)

1:45 pm – 2:00 pm
Q&A

New York: 2.0 Professional Practice
New Jersey: 2.0 General
California: 1.5 General
Pennsylvania: 1.5 General

Sponsoring Association Committees:
Compliance, Patrick T. Campbell, Chair

Sponsorship Opportunities are Available! Please Contact:
Yelena Balashchenko, Manager, Business Development & Sponsorships | (212) 382-6608 | ybalashchenko@nycbar.org