Welcome to our latest edition of the 1LoD Round-Up

Inside you'll find:

• Key information and updates regarding our upcoming events
• Explore the key takeaways and valuable insights from our most recent events and reports
• The opportunity to get better acquainted with our team members

Latest Insights

Navigating the evolving landscape of asset management compliance

The Asset Management Compliance Leaders’ Network brought together industry experts to explore the evolving landscape of communications surveillance and the integration of technology in risk and control functions within asset management firms.

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Navigating the AI Frontier: Transforming Financial Crime Prevention

Undoubtedly artificial intelligence (AI) has the potential to play an important role in preventing financial crime. It offers efficiency gains, advanced detection capabilities, process optimisation, regulatory compliance, adaptability to emerging risks and strategic implementation. However, at the Financial Crime Leaders’ Network debate hosted by 1LoD, attendees had very different views on AI's role, effectiveness, and implications.

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Strengthening Operational Resilience and AI Integration in Banking

1LoD brought together senior practitioners from the 3 lines of defence to focus on the critical topic of operational resilience, hosting discussions about how to respond to emerging technology risks, third-party exposure, and changes in global regulatory expectations.

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Enhancing KYC and Transaction Monitoring with Risk-Based Approaches and Emerging Technologies

The Financial Conduct Authority (FCA) outlined its priorities and future strategy in the fight against financial crime at the opening of 1LoD’s Financial Crime Leaders’ Network. It wants to create a more transparent and trusted financial environment by streamlining and enhancing its authorisation processes so that they are efficient and user-friendly, and by making its registration systems more accessible and secure.

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The Future of Non-Financial Risk Management: Adapting to Geopolitical, Cybersecurity, and AI Challenges

Financial institutions are under constant pressure to adapt their risk and control frameworks because of the speed at which geopolitical and other risks emerge. The core framework may remain largely unchanged, but the focus within the framework may require continuous adjustment to deal with new challenges.?

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Navigating Regulatory Expectations and Technological Advancements in Financial Crime Compliance

The Financial Crime Leaders’ Network in New York recently highlighted key challenges and responses in financial crime compliance, centering around regulatory oversight, and developing robust controls in the face of increasingly complex regulations.

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How does Model Risk Management affect buy-build choices in surveillance?

Model risk management (MRM) teams were deeply involved in validating surveillance models (deterministic and stochastic) even before the Prudential Regulation Authority (PRA) brought out SS23/1 (model risk management principles for banks) earlier this year. That supervisory statement makes clear the regulators’ view that MRM should be applied much more broadly than before, all but guaranteeing the inclusion of surveillance in it.

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Have US firms had enough of surveillance?

We are used to hearing that European privacy laws are a stumbling block to the surveillance of broader populations outside strictly regulated personnel or to more detailed trader profiling. In the US, in general, surveillance teams have fewer problems. But a long-running fight against the consolidated audit trail (CAT) is changing that.

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Upcoming Events

XLoD Global - London, 13 & 14 November, in-person event

• You can now secure your ticket for XLoD Global - London on the 13 & 14 November with the Early Bird rate.
• This year we are bringing a unique perspective in risk management and decision-making direct from the aerospace and space exploration industry - hear from Tim Peake CMG , the first British astronaut to visit the International Space Station (ISS) whose experience illustrates the importance of meticulous planning, continuous training, and the implementation of robust systems to prevent and manage risks – all crucial elements for fostering a culture of compliance relevant within financial institutions.

AML Deep Dive & Report, 26 & 27 November, an annual virtual event & report

• Tickets for the virtual AML Deep Dive & Report is on sale now - you don't want to miss this.
• Optimise the operating model and determine the roles of all 3 lines of defence, and enhance collaboration, coordination and integration within the organisational structure.

Fraud Risk Deep Dive & Report, 3 & 4 December, an annual virtual event & report

• Registration is open now! Don't miss your chance to secure tickets for the upcoming virtual Fraud Risk Deep Dive & Report. Grab yours now!
• Leverage technology strategies and frameworks to combat the ever-advanced threat of illicit activity, and actively fight fraud rather than purely meet technical compliance requirements.

Featured Partner Events

Risk Live North America, 16 & 17 October, in-person event

• Risk Live North America?unites senior risk management and risk transfer professionals providing a convenient platform for the exchange of ideas, access to cutting-edge insights, benchmarking and relationship building. Whether you are interested in risk management, operational risk, investment risk, AI or compliance, join us to?future-proof your business.

Meet the Team: Abi Stanton, Operations Manager, 1LoD

Meet Abi Stanton , Operations Manager at 1LoD . Abi joined 1LoD in 2021, looking to establish a career in event operations. Abi works on all elements of operations within 1LoD, with a key focus on working closely with all of our sponsors.?Previous to joining 1LoD Abi worked at an event venue assisting the coordination of corporate conferences and private events. Abi is passionate about providing high quality events, and is excited to continue her career in event operations.

Q&A

1. If you could holiday anywhere in the world, where would it be?

Bora Bora

2. What does everyone else seem to like that you can't stand?

Halloween

3. What's the best way to spend an hour?

Anywhere but the gym

4. What is one rule you live by?

Leave things better than you found them

The 2024 Surveillance Benchmarking Survey & Report

1LoD has released the much-anticipated 2024 Surveillance Benchmarking Survey & Report.

This groundbreaking study, building on the foundation laid by its 2020 predecessor, brings to light the rapid advancements and critical shifts in the landscape of market abuse surveillance. The comprehensive survey, enriched by insights from over 30 leading global banks, presents a forward-looking analysis that benchmarks current practices and sets the stage for the future of trade, e-comms, and voice surveillance in financial institutions.

About The 2024 Surveillance Benchmarking Survey & Report

Crafted in collaboration with 1LoD’s Surveillance Leaders’ Network, this survey reflects thousands of conversations and consultations with the industry’s top surveillance leaders. It serves as an essential benchmarking tool for financial institutions worldwide, enabling them to gauge their surveillance practices against peers and navigate the evolving regulatory and technological landscape. The report has been compiled with insights provided by 30 banks. 74% of the banks who participated in the survey surveil a population of 1000+.?

Learn more about The 2024 Surveillance Benchmarking Survey & Report

For more information about our events, reports, and the team, visit the 1LoD website, and make sure to subscribe to our newsletter to get the latest insights.