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GARP Risk Podcast

Risk-Based Decisioning in an Age of Uncertainty Part 1

Aug 23, 2023
This podcast explores how traditional financial institutions are adapting to digital transformation and volatile market conditions. It discusses strategies for risk-based decision making, the importance of accurate data collection in automation, managing model risk in emerging technologies, challenges and solutions in risk and control functions, and the importance of data aggregation and responsible data analysis in decision-making.
33:52

Podcast summary created with Snipd AI

Quick takeaways

  • Digital credit decisioning and the adoption of AI and machine learning are gaining momentum in financial institutions.
  • Financial institutions are extending data usage and digitizing activities to improve efficiency, productivity, and risk reduction.

Deep dives

The Global Risk Management Landscape

Financial institutions are operating in an uncertain global economic landscape with volatile market conditions, regulatory scrutiny, and competition from fintechs and digital banks. Digital credit decisioning is gaining momentum, with many banks revisiting their capabilities and adopting AI and machine learning. Climate risk assessments and scenario analytics are becoming important tools, and effective risk management is seen as a business strategy.

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