GRC Weekly Digest - Week 13/2024

Dear Global Risk Community followers,

Welcome to our weekly digest, where we dive deep into the complex world of risk management with topics that have found interest within our community. In this edition, as always, we're bringing a wide selection of insightful topics in a variety of industries and fields. Additionally, you can find more information on upcoming top industry events and much more.

AI Risks Unveiled: Managing the Unseen Threats

In this episode, we?dive deep into the complex world of Artificial Intelligence (AI) and its associated risks with our guest, William Huynh .

We discuss the evolving landscape of AI risks, the importance of understanding these risks for compliance professionals, and the critical strategies businesses must adopt to mitigate them effectively. William also shares his journey and insights into how AI is transforming operations and business processes, highlighting the speed at which AI is evolving and the sophistication of the risk landscape that businesses need to navigate.

Listen?to the full episode or?watch it here. Let us know what you think about this and other interviews.???

Other Insightful Topics In This Issue

How to Upgrade Your Third-Party Risk Management Program for the Age of Global AI Regulation

As artificial intelligence grows by leaps and bounds, governments worldwide are scrambling to build guardrails to ensure its safe and responsible deployment. On the other hand, businesses are deploying AI however and wherever they can, as its promised productivity and efficiency gains may profoundly impact the bottom line.

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Two Ways Generative AI is Transforming Financial Sectors

The advent of generative AI is reshaping the financial sector's landscape, introducing a new era of innovation and efficiency. This transformative technology is beginning to carve its niche within the industry despite facing several hurdles toward full-scale income generation. The early impact of generative AI in finance is evident, with its applications ranging from customer service enhancements to sophisticated AI risk assessment methodologies.

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4 Considerations for an Effective RCSA Framework to Achieve Business Objectives

Risk and Control Self-Assessment (RCSA) has surged in importance, becoming a cornerstone for achieving business objectives and maintaining regulatory compliance. This rise in significance is mainly due to the dynamic nature of financial markets and the increasing complexity of regulatory requirements. A practical RCSA framework, augmented by advanced risk assessment software, is not just a regulatory necessity but a strategic asset that enables institutions to navigate the complexities of the financial world with greater assurance and foresight. ...

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Vietnam Fintech Market is Booming with a CAGR of 13.41% by 2032

IMARC Group, a leading market research company, has recently releases report titled?“Vietnam Fintech Market Report by Type (Digital Payments, Personal Finance, Alternative Financing, Insurtech, B2C Financial Services Market Places, E-Commerce Purchase Financing, and Others), and Region 2024-2032”

Read more...

Upcoming Top Industry Events

• #CS4CA Cyber Security For Critical Assets: April 3 - 4, Marina Bay Sands, Singapore
• DACHsec Cyber Summit: April 9 - 10, Frankfurt, Germany
• 18th Edition Third Party Risk Management for Financial Institutions: April 17 - 19, New York, NY, United States
• Fundamentals of Compliance Investigations: May 1 - 2, Virtual

We hope you found this week's topics insightful. As the Global Risk Community, we will keep sharing more insights through all our available channels. If you found our content valuable, please help spread knowledge by sharing it with your network. Your support will enable us to continue creating and sharing valuable content with the world.

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