THE CHANGING RISK LANDSCAPE
to govern AI as you would a person rather than a technology in future .
THE CHANGING RISK LANDSCAPE
The role of those tasked with managing risk is changing . Even , it was suggested during KPMG ’ s roundtable , “ breaking up ”. According to Charlie Jaco , Global Financial Services Lead , Cyber Security , the role of the CISO no longer stops as “ simply telling the board how many vulnerabilities were discovered last month ”. Jaco suggested that for most large financial
services institutions in the US , the role of CISO should migrate to that of Head of Cyber Risk .
It was discussed that many organisations have centralised their fraud risk and operations – fraud risk being second line and operations first line . However , as this shift occurs it was questioned what a new operational model that accommodates this change looks like , and how it would be governed . Technology could play a role too . Tuteja , for example , suggested a shift towards allowing machine learning and bots to understand fraudulent activity but that they are currently not smart enough to do so . Where the technology can , and will be used to great effect however is in the identifying of patterns of fraudulent activity – this is already being activated by several leading organisations .
Read the full report by KPMG and find out more about the services it offers here .
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