Regulated Radio

AI holds the potential to revolutionise the financial services sector. Regulators are supportive, but also alert to the risks that AI might pose to markets and customers if not managed properly. Social pressure is also mounting on firms to ensure their use AI and consumer data is ethical. In this episode, we speak to Reny-Vargis Cheriyan and Suchitra Nair about the commercial and regulatory trends around AI in financial services, and the role of AI ethics. Tune in and hear their views about how firms can take advantage of this cutting-edge technology while keeping regulators convinced that their AI is trustworthy.

Key questions:

• How is AI being used in the financial services sector today?
• What is 'trustworthy AI' and why is this an important concept for firms to think about?
• What expectations do regulators have of firms that are increasingly relying on AI?
• What are the steps that financial services firms should take when they are thinking about deploying AI solutions?

How much is green investing changing the financial services sector, and how are regulators and investment managers responding to rapidly changing investor preferences? In our latest episode, we invited James Alexander and Isha Gupta on the show to share their views on the commercial and regulatory challenges that investment managers are facing with the shift to ESG investing. Join us as we explore the opportunities and challenges that we believe are in store for the investment and wealth management industry as this shift continues.

Key questions:

• What are some of the most significant regulatory initiatives we're seeing today on ESG investing?
• How much of a challenge do investment managers face in implementing the new regulatory requirements that are coming down the track?
• What are the challenges investment managers are likely to face in obtaining their clients' sustainability preferences?
• Where are regulators likely to turn their attention to next in this space?

One of the most important challenges that financial services firms face today is how to effectively deal with financial crime. The size and complexity of many financial firms and the growing reach of anti-money laundering regulation makes responding effectively to this risk no small feat. For this episode, we invited two of Deloitte's financial crime experts, Katie Jackson and Tamsin Baumann, to help us understand recent regulatory developments and industry trends in this area. Tune in now to hear us discuss their ideas for how the financial services sector can rise to this challenge.

Key questions:

• Why do banks and other financial services firms have such an important role to play in identifying and tackling financial crime?
• What are some of the recent initiatives from EU and UK regulators that firms need to watch?
• Can financial services start-ups and challengers sometimes be caught off-guard by the difficulty of managing the risk of financial crime?
• How are firms deploying new technologies to more innovatively manage their anti-money laundering activities?

At the start of the year, we looked at what was in store for 2020. It's safe to say that the last six months have been different from our expectations. COVID-19 has changed almost everything about our daily lives and has been a significant challenge for financial services policymakers. But what are the regulatory trends that we see enduring despite the circumstances? In our latest episode, Andrew Bulley and David Strachan join our host, Scott Martin, for a mid-year review like no other. Tune in now!

Key questions:

• How are financial services firms dealing with the most recent challenges brought about by COVID-19?
• What are regulators likely to expect firms to do as the sector copes with an economic downturn?
• Which regulatory trends do we believe have been emboldened by the experience of COVID-19?
• What are the biggest challenges that we think the financial sector will face in the second half of 2020?

Banks will face enormous challenges managing the economic fallout of the COVID-19 crisis. The role of IFRS9 in determining the amount of loan losses banks have to provision for has received a lot of attention since the pandemic took hold. We invited two of Deloitte's leading banking experts, Mark Rhys and Ian Wilson, on the show to help us better understand the sector's recent performance and what we can expect banks and regulators to do in the coming months as the crisis evolves.

Key questions:

• What are the most significant challenges that banks are facing in the COVID-19 crisis?
• What is IFRS9, how does it work, and why is it receiving so much attention now?
• How do forecasts about the economy's performance in the downturn change the way banks anticipate losses?
• What are some of the most important measures regulators have taken to stabilise the sector?
• How should banks be preparing for the end of extraordinary government support programmes?

How are financial firms and their regulators getting to grips with the rise of Cloud computing? As firms push ahead with their digital transition, more and more of their activity depends on Cloud Service Providers. Regulators have recognised the efficiency gains that using the Cloud can bring to firms, but they equally want to ensure that risks arising from this are well managed. Tune in to hear Tom Bigham and Suchitra Nair speak to Scott Martin about the trends that financial services firms should be watching today.

Key questions

• How quickly has Cloud adoption been progressing in the financial sector?
• What are regulators doing to ensure that they can understand the risks arising from Cloud computing?
• Where can financial firms expect regulators to exercise the most scrutiny in assessing their Cloud transition plans?
• What is 'concentration risk' and how could it pose a challenge to financial sector stability?

As much of the world prepares for long periods of lockdown and social distancing, how can financial services firms and their regulators be confident that measures taken to strengthen the resilience of the financial the system have been enough? In this episode, Scott Martin speaks to David Strachan from Deloitte's EMEA Centre for Regulatory Strategy and Rick Cudworth from Deloitte's Reputation, Crisis & Resilience practice to get their take on whether the financial sector can stay resilient through the disruption caused by COVID-19. Tune in now to hear what we're seeing during these extraordinary times.

Key questions:

• How does the current turmoil in financial markets compare to the 2008-2009 global financial crisis?
• What can stress testing exercises tell us about the ability of financial sector firms to absorb the shock of COVID-19?
• How are regulators around the world trying to support the stability and functioning of financial firms?
• What should firms do to safeguard their operational resilience over the duration of the lockdown?
• What could changes in government strategy towards social distancing mean for firms in the coming months?

What are financial firms doing to ensure they are prepared for the effects that climate change can bring? Amid growing political, media and regulatory attention, banks and other firms are coming under increased pressure to show that they understand the scale of the risks that they each face.

In this episode, Scott Martin speaks to Damian Hales and Rutang Thanawalla from Deloitte's FS-Risk Advisory practice about the latest thinking in the financial sector on forecasting the effect of climate change on asset prices, business models and potential liabilities. Tune in now to hear some seriously new ways of thinking about financial sector risk.

Key questions:

• What are the different types of climate change risks that firms should be assessing now?
• How is measuring climate risk different compared to measuring financial risk or conduct risk?
• Which climate change scenarios are the most realistic ones for firms to be assessing?
• Which regulators are leading the pack in establishing climate change stress tests for financial firms?
• How can we expect the regulatory framework around climate risk to evolve in the next decade?

Welcome to the Twenties! It's a new year and a new decade, and the first question that's on our mind is how financial sector leaders can navigate the regulatory and commercial challenges ahead. In this special episode, our host, Scott Martin is joined by David Strachan and Andrew Bulley to talk about their 2020 Regulatory Outlook, and Ian Stewart, Deloitte's UK Chief Economist, is back to tell us what he's seeing in the economy and in markets. From sustainability and cyber risk to new technologies and changing demographics, we scan the horizon for what the financial industry can expect in the year ahead. Join us!

Key questions:

• What kind of economic environment and risks will financial services firms likely face in 2020?
• What effect is a retrenchment from globalisation, or "slow-balisation", having on regulatory co-operation?
• What are the biggest challenges that regulators and firms will face as a result of the regulatory agenda for the next 12 months?
• How will regulators respond to risks arising from ageing populations and more millennials in the workforce?
• How will regulators scale-up the work they are doing on the sustainability of financial firms and products?
• Will cyber and operational resilience risks complicate how the financial sector adopts new technologies?

How do we deal with a challenge as difficult as cultural change in the financial sector? More than ten years on since the financial crisis, what's still on the agenda of financial authorities? In this packed episode, Scott Martin speaks to Andrew Bulley and Orla Hurst from the Centre for Regulatory Strategy, as well as Rose-Marie Kennedy from Deloitte Ireland. Tune in now to find out what they see as the four most up-and-coming trends in financial services culture and what FS firms can expect to happen next.

• What are the most important trends in the approach of supervisors to culture in the financial sector?
• What jurisdictions are we supervisors seeing take a renewed interest in culture?
• What has been the recent experience of UK and Irish firms in addressing their culture?
• What is 'psychological safety' and what does it have to do with instilling a culture of challenge in a firm?
• What effect will technological trends like the digitalisation of banking have on firm culture outcomes?