Closing the Next Compliance Gap

Closing the Next Compliance Gap

In this episode of Beyond Capture, Dean Elwood, CEO of Umony, brings together Tracey McDermott, former Acting Chief Executive of the Financial Conduct Authority and former Group Head of Conduct, Financial Crime and Compliance at Standard Chartered, and Stephen Sanders, former Chief Compliance Officer EMEA at J.P. Morgan. The discussion focuses on the role of enforcement in shaping behaviour across financial services, and how cultural reform is driven within firms. Tracey McDermott explains how regulators use enforcement to set expectations, while responsibility for cultural change remains with leadership inside organisations. Stephen Sanders adds a practitioner perspective on how firms respond to regulatory pressure and embed accountability. The conversation also looks at where firms remain underprepared this year, including gaps in how culture is assessed, how conduct risk is managed across business lines, and how regulatory expectations are translated into day to day practices. The episode brings together regulatory and industry perspectives on how enforcement, leadership, and internal culture interact in practice.   Chapters: 00:00 Intro 01:17 What Do Recent Enforcement Cases Tell Us About 2026 03:15 Is the Regulator–Firm Relationship Really a Partnership? 06:14 Why This Relationship Is Cyclical 12:33 The Limits of the Partnership 18: 23 What Compliance Leaders Do After an Enforcement Case Hits 22:34 Connecting the Dots in Compliance 28:35 What Firms Aren’t Ready For in 2026 36:47 AI, Legacy Systems & New Blind Spots 43:24 Rethinking the Three Lines of Defence 53:33 What Good Regulatory Dialogue Looks Like 57:49 Breaking Down Compliance Silos 1:03:43 Rethinking Suspicious Activity Reporting 1:08:26 The Shift from Human to Machine Oversight 1:15:53 The Reality of Regulatory Divergence 1:21:29 Global Standards Without a Global Regulator 1:24:39 Speed Round: Risk, AI & Regulation

From the FCA to Global Banking

In this conversation, Dean Elwood speaks with Tracey McDermott, former Acting Chief Executive of the Financial Conduct Authority and former Chief Compliance Officer at Standard Chartered. Drawing on her experience on both sides of the regulatory divide, Tracey reflects on how misconduct emerges inside financial institutions, what regulators look for when things go wrong, and how banks can build stronger cultures of accountability. The discussion covers the mortgage endowment scandal, LIBOR, the challenge of rebuilding trust in financial regulation, and the evolving role of compliance as data and AI reshape the industry. Chapters: 00:00 Intro 01:17 From Litigation to the Financial Regulator 04:29 The mortgage endowment mis-selling case 07:22 Rebuilding Trust in the Regulator 10:17 The Reality of Leading a Public Regulator 12:56 The role of boards in risk oversight 15:25 The Hidden Patterns Behind Financial Misconduct 18:05 Enforcement vs Culture in Financial Institutions 20:27 Why the LIBOR Scandal Changed Everything 22:47 Individual Accountability vs Systemic Failure 26:34 The Hardest Problems Finance Still Has 30:27 The Gap Between Regulation and Reality 32:00 Looking Back on a Career in Regulation and Banking 33:58 The Future of Compliance and the Role of AI

Building Assurance and Resilience Across Suppliers

In this episode of Beyond Capture, Dean Elwood, CEO of Umony, speaks with Corinna Mitchell, General Counsel of Symphony, about supply chain risk, operational control and regulatory resilience in financial services. The conversation examines how resilience obligations extend through the supply chain, the role of certifications such as ISO 27001, ISO 42001 and SOC 2, and why accreditation and verification of those certifications matter. Corinna explains how financial institutions assess control and security across vendors and subcontractors, how critical and important suppliers are identified, and how proportionality is applied in practice. They also discuss regulatory expectations under DORA, where responsibility remains with financial entities, and how technology providers are preparing through contractual frameworks, governance and supplier oversight. The episode concludes with a look at how firms assess vendor risk, manage subcontractors, and present resilience and assurance in an increasingly complex regulatory environment. Chapters: 00:00 Intro 01:15 Introduction: Off-Channel Communications in Finance 02:57 WhatsApp Fines & Regulatory Crackdowns 05:45 Data Privacy & End-to-End Encryption 08:09 AI, Analytics & Human Oversight 10:25 Explainability, Auditability & AI Risks 13:36 Certifications: ISO, SOC 2 & Trust Signals 16:51 DORA & Operational Resilience 18:34 Supply Chain and vendor risk 21:32 Certifications, Accreditation & Vendor Due Diligence 30:28 Cloud, Data Locality & Multi-Region Failover 37:55 Global Standards & Harmonisation Challenges 42:37 Product Vision – Analytics, Interoperability & Workflows 47:29 Identity, Trust & The Future of Communication 54:28 Outages, Geopolitics & Preparedness 59:09 Pen Testing, Red Teams & Cyber Defence 01:03:56 Closing: Practical Steps for Secure Communications UKAS - United Kingdom Accreditation Service - https://www.ukas.com [https://www.ukas.com/] UKAS Certcheck - https://certcheck.ukas.com [https://certcheck.ukas.com/] The UK National Cyber Security Centre (NCSC) runs CHECK, and publishes a directory of assured CHECK providers - https://www.ncsc.gov.uk/schemes/check/find-an-assured-check-provider [https://www.ncsc.gov.uk/schemes/check/find-an-assured-check-provider] CREST positions itself as an accreditation body for cyber security service providers and maintains a searchable member directory - https://www.crest-approved.org/members/ [https://www.crest-approved.org/members/]

Do We Really Trust AI?

In this wide-ranging conversation, Dean Elwood, CEO of Umony, sits down with Alan Charbonneau, CTO of Umony, to explore one of the most pressing questions in today’s AI landscape: what does it really mean to trust intelligent systems? From hallucinations and explainability to hybrid lexicons, human-in-the-loop workflows, and the limits of agentic systems, Dean and Alan break down where AI delivers, where it fails, and why progress may be shifting from “jobs” to “tasks.” They discuss the plateau of model quality, the risks of synthetic data polluting the internet, the economics of failed AI initiatives, and whether we’re chasing AGI for innovation or for the trophy. Along the way, they examine how UX, curation, and “AI seasoning” may hold the key to making AI actually useful, safe, and trustworthy. It’s a conversation about technology, but also about ethics, governance, and what remains fundamentally human as automation scales.   Chapters: 00:00 Intro 01:11 Trusting AI: Where Do We Begin? 03:35 Explainability, Citations & Transparency 06:44 Regulators, Risk & 100% Data Coverage 08:13 Beyond Red Flags: Business Insights & Green Flags 11:14 The Limitations of Lexicons & Fuzzy Models 13:44 The Future Without Lexicons 15:22 Human in the Loop: Why It’s Not Going Anywhere 20:09 AGI: A Goal or a Distraction? 23:39 Big Tech, Valuations & the Trophy Problem 25:59 Apple, Trust & Risk 30:36 The AI Hype Cycle & ROI Reality 33:05 Radiologists, Tasks & Human Judgment 34:57 Chat Interfaces vs Better UX 40:31 When AI Gets Things Wrong  44:58 The Future of Dashboards 47:29 AI in Small Doses

Compliance: From Office of No to Office of Unlock

In this conversation, Dean Elwood, CEO of Umony, speaks with Dr. Hemma Lomax, Deputy General Counsel, Vice President, and Global Head of Ethics and Compliance at DocuSign, about how purpose, empathy, and neuroscience can transform corporate culture. A former SEC prosecutor and criminal barrister, Hemma shares her journey from enforcing rules to redefining how organizations build trust, integrity, and responsible growth. Together, they discuss leadership, culture, and “the Office of Unlock” — Hemma’s approach to turning compliance from a function of control into a driver of ethical decision-making and innovation. The discussion also explores how regulation, human behavior, and data governance are evolving in the age of AI, and what this means for the future of ethics and compliance in business. Chapters:  00:00 Intro  01:11 Origins and Early Drive  03:22 Building a Global Career  06:17 Resilience and Purpose  09:06 Decision-Making and the Brain  12:21 Radical Empathy and Everyday Integrity  20:34 The Office of Unlock  29:27 Culture, Leadership, and Human Impact  33:50 Vulnerability and Doing Hard Things  35:23 Parenting, Compliance, and Agency  39:08 Influence, Media, and the Power of Messaging  45:44 Compliance as Influence and Trust  52:10 Regulation and Responsibility  1:01:42 Regulators and the Risk Mindset  1:03:56 Data, Trust, and the Green Flag Links to Hemma’s channels: Unless The Podcast  https://www.youtube.com/@UnlessThePodcast/videos [https://www.youtube.com/@UnlessThePodcast/videos] Great Women in Compliance https://www.youtube.com/playlist?list=PLD0gUglo89BrSri7MCOCDi0Ovza2bcrrN [https://www.youtube.com/playlist?list=PLD0gUglo89BrSri7MCOCDi0Ovza2bcrrN]