Thursday 20 May 2021 | 10:00 - 13:00 BST
Each session will last for 30 minutes
Outcome focused Regulation
We are in the midst of a shift, at a global level, from a risk-based towards an outcomes-based regulatory approach, creating considerable uncertainty for regulatory and financial crime compliance practitioners.
What does an outcomes-based approach mean for compliance? How can organisations move towards an outcomes-based approach? What risks and obstacles does such a move involve? What are regulators’ expectations and how can compliance evidence an outcomes-based approach to them?
In this practical case study, Chris Hill of Tesco Bank will share his experience of introducing an entirely outcomes-based approach to the bank, and the challenges, innovations and benefits that this move has presented.
Chris Hill, Financial Crime Director and MLRO, Tesco
ESG: An expanding role for compliance
There are mounting regulatory expectations on financial markets participants to integrate environmental risks into their investment decisions and to improve transparency around environment, social and governance (ESG) issues. For example, the UK FCA is requiring listed issuers to adopt the Taskforce on Climate-related Financial Disclosures’ (TCFD) recommendations on a ‘comply or explain’ basis, with mandatory TCFD compliance by 2025, while at the EU level the Taxonomy and Disclosure Regulations cover similar ground. Further, the UK PRA has outlined its expectations around climate risk assessment, management and disclosure, which firms must embed by the end of 2021, while the ECB has also issued guidance on banks’ management of climate and environmental risks.
As sustainability issues rise up the regulatory and policy agenda, such requirements will expand further. This session considers the challenge of ESG risk and reporting and how compliance practitioners can take the lead and best support their organisations in this evolving space
Beth Haddock, Managing Partner, Warburton Advisers
Richard Peers (moderator), Founder, Responsible Risk
Pam Shearing, Managing Partner, Fulcrum
Leonie Kelly, Director, Head of ESG and Impact Advisory, Ogier
Justin Smith, Head of Business Development Unit, WWF South Africa
Beyond 3LOD – The future of risk governance
The three lines of defence (3LOD) model of risk governance has been criticised for being too simplistic and for creating a siloed approach to risk management, leading to confusion over roles and responsibilities. Moreover, the relationship between risk owners and oversight functions has emerged as a common site of friction in organisations, undermining the model’s effectiveness.
This panel discussion will consider best practice in risk governance, exploring the value of working between the lines and of tailoring the approach to the organisation, rather than applying a strict and inflexible framework. Drawing on real life examples – including perspectives from the first line – the session will examine common pitfalls and propose alternative approaches to risk management frameworks.
Jonathan Bowdler, FICA. Global Lead: Postgraduate Qualifications, ICA
Catherine Vaughan, FICA, Partner, Financial Crime Leader, EY
Donna Turner, MICA Senior Consultant, Risk Shapes
Robert Luu, Director, Solution Strategy and Customer Success, Galvanize
Compliance for AI: a regulatory perspective
This presentation provides an introduction to artificial intelligence from a regulatory perspective. We will go into the challenges of AI from a compliance point of view, and will focus particularly on the issue of explainability in AI.
Joost van der Burgt, Senior Policy Advisory at De Nederlandsche Bank (DNB)