In this episode of the Agents of Change podcast, EY’s Roger Park is joined by Amy Brachio, EY Global and Americas Advisory Risk Leader and Cindy Doe, EY Financial Services Advisory Principal, for a discussion on digital risk and how financial services firms can leverage risk to their strategic advantage.
Roger ParkEY Americas Innovation Leader
Amy BrachioEY Global Business Consulting Leader
Cindy DoeEY Americas Consulting Risk Leader
Duration 24m 14s
In this transformative age, how risk is managed will become the key to unlocking the strategic upside of disruption. Advanced analytics and AI, robotic process automation and cloud-driven models have enabled firms to create new products and services; enhance access and experience for customers; and strengthen controls and drive down costs. As technology evolves, financial institutions today face two challenges: the first is thinking about digitizing risk management and its processes, and the second is managing risks to the entire organization as it becomes more digital.
- The risk function needs to disrupt itself. It needs to change from being a defensive tool into becoming a core component of strategic development, helping the organization find ways to both maintain existing product lines and invest appropriately in the new and what’s coming next.
- It’s going to be critically important that the risk professional of the future have a seat at the table with the C-suite, with the leaders of transformation, bringing that mindset to deliver value and trust throughout the organization.
In this seriesSeries overview
How financial services organizations can industrialize innovation
How firms can create effective digital transformation