FIMA US 2016
Boston, MA
Monday, March 21, 2016
Wednesday, March 23, 2016
The Financial Information Management Association's annual event focuses on driving value beyond regulatory compliance and data innovation for financial institutions.


Emerging Opportunities to Manage Operational Risk and Beyond

Regulations in play: The silent killers (Bank Secrecy Act, USA Patriot Act) and latest updates/recast directive (MiFID II) for trade/transaction reporting

  • Situation - What are the risks inherent in the current approach/technology and the challenges posed with Operational Risk and new and existing regulation? Specifically, how are firms managing:
  1. Transparency – Appeasing auditors i.e communications, process and data collection
  2. Transaction and client reporting – Balancing costs, speed and aggregation, i.e. market abuse, risk profiling, etc.
  3. Data collection and model development for sanctions: enhancing detection time, breadth and accuracy of internal activities
  • Impact - How are requirements for centralized data functions and the impetus for collaboration across other risk functions (compliance, risk, internal audit) progressing?
  • Change – How is the firm future proofing for changes in shifting business models, regulation and risk? The need to accept the limits of current systems and adopt a holistic approach to data management that improves data access, quality, retrieval and archiving across all formats
  • Plan - How to move from a defensive data posture to an offensive one as CDO? The new ecosystem – the essence of a solution that is a combination of internal resource, the right external vendors and a joined-up view of data management by CDOs and the risk functions within each financial services house that aligns to executive priorities