Kuuntele GARP Risk Podcast

Hear from Peter Mortensen, the chief risk officer of Russell Investments, about inflation volatility, tariffs, liquidity risk, AI threats and benefits, and ERM. Across the financial services spectrum, amid a global environment of uncertainty and political upheaval, risk management is as daunting as ever in 2025. Banks, for example, must contend with everything from cybersecurity hazards and the rise of AI to regulatory risk, global debt problems and increased supply-chain risk. Investment managers, meanwhile, face many of the same challenges but are also concerned with portfolio management, inflation volatility, the introduction of new tariffs, stress testing and liquidity risk obstacles.  Peter Mortensen, CRO of Russell Investments, joins us today to share his insights on the risk trends, challenges and opportunities impacting the global investment management community. Relevant Links: GARP Benchmarking Initiative [https://www.garp.org/garp-benchmarking-initiative]   Speaker’s Bio Peter Mortensen is chief risk officer at Russell Investments, where he is responsible for measuring and monitoring market and liquidity risks for the firm's risk management program and regulatory reporting. He was promoted to CRO in June 2023, after serving a stint as the firm’s managing director of investment risk. In his current role, Peter also oversees the development, daily operation and support of Russell Investments’ proprietary multi-asset enterprise risk management system, which facilitates quantification of market, liquidity, credit and concentration risks. Since July 2015, he has assisted the CFA Institute with their curriculum development on risk management. Prior to joining Russell Investments in 2012, Peter worked as a senior risk analyst in the product solution group at Nykredit Bank. In that role, he was responsible for the development and implementation of OTC pricing models, in addition to models for pricing expected liquidity and capital costs arising from OTC trades.

Hear from Moody’s Analytics’ Cris deRitis about cybersecurity, AI, deglobalization, regulatory risk, global debt problems, geopolitical volatility, supply-chain risk, and other key issues that will impact risk managers this year. In 2024, the complex obstacles facing financial institutions and their risk managers were illuminated by headline-grabbing risk events – including the CrowdStrike IT outage, the fall of Republic First Bank, terrorist attacks on commercial shipping vessels in the Red Sea, and a plethora of climate-change-abetted natural disasters. Indeed, multi-faceted risks - ranging from rising cyber threats, third-party risks and AI encroachment to evolving regulatory and climate risks to geopolitical volatility and supply-chain uncertainty – created a very challenging environment. Part of the problem is that many of the major risk types are interconnected and distributed across multiple transmission channels. For example, cybersecurity not only covers ransomware attacks and internal breaches but also requires monitoring of threats from both third-party vendors (like CrowdStrike) and from AI tools, like deepfake technology, used by cyber criminals. Likewise, geopolitical risks, such as the Russia/Ukraine and Israel/Hamas wars, have a major impact on the supply chain.  This year, risk managers can expect to face many of the same issues, while also tackling global debt problems, deglobalization, political upheaval, and even greater AI, cyber and third-party hazards. Relevant Links: Modeling Risk [https://www.garp.org/risk-intelligence/modeling-risk/all] (GARP column by Cris deRitis) GARP Benchmarking Initiative [https://www.garp.org/garp-benchmarking-initiative] GBI Study on Operational Resilience: Key Findings [https://www.linkedin.com/feed/update/urn:li:activity:7280622392341663744]   Speaker’s Bio Cristian deRitis is Managing Director and Deputy Chief Economist at Moody's Analytics. As the head of econometric model research and development, he specializes in the analysis of current and future economic conditions, scenario design, consumer credit markets and housing. In addition to his published research, Cristian is a co-host on the popular Inside Economics Podcast [https://podcasts.apple.com/us/podcast/moodys-talks-inside-economics/id1559966912]. He can be reached at cristian.deritis@moodys.com [cristian.deritis@moodys.com].

Join Martim Rocha, Global Head of Risk Banking Solutions at SAS, and Luis Jesus, Senior Manager at SAS, as they discuss how financial institutions can transform their risk management to thrive in today's volatile market. Financial organizations today face heightened regulatory scrutiny while contending with siloed, legacy risk systems. But those that embrace AI, cloud, and integration can unlock new levels of efficiency, scalability, and proactive insights. Hear expert strategies for building a future-ready risk ecosystem - one that delivers governance, control, and competitive advantage.  Key topics: - Top challenges risk teams face in cost rationalization and automation - How modernizing risk technology impacts business processes and decision-making. - Balancing business continuity, modernization, and regulatory demands - Addressing banking industry challenges and trends related to risk modernization over the next 5 years   Speakers’ Bios Martim Rocha, Global Head of Risk Banking Solutions at SAS Martim manages a team of global experts on banking risk management, defining roadmaps and priorities for SAS solutions and supporting customers all over the world on their journey to take the best of the SAS solutions, from scoping and defining the best approach for each business case to helping customers taking the SAS solutions through implementation to be live as a production system. Martim has published several papers and has spoken at several conferences around the world on the topics of Risk Management in Banking, Risk and Finance Integration, IFRS9/CECL, Regulatory Risk Management, ALM, Capital Planning , Scenario Based Analysis and Stress-testing. With SAS for more then 17 years, he played the role of Strategic Advisor and Solution Designer on projects such as Stress-testing on a G-Sib based in London; IFRS9 and Stress-testing at G-SIB bank covering more than 60 locations worldwide; IFRS9 impairment at a couple of Top 5 Nordic Bank covering 5 countries; IFRS9 full-scope at Top banks in UAE; and IFRS9 impairment at more than a Top 5 South African Bank. Martim has more than 25 years of experience in the financial services industry on the topics of risk management, business analytics and data management. He has designed and managed projects for banks, insurance firms and other financial services companies in areas such as financial management, risk management, predictive analytics, financial and sales performance, strategy management, and customer analysis and segmentation. In addition, he was a lecturer for courses on advanced decision support systems, data warehousing and data mining at the Autonomous University of Lisbon and at the ISCTE Business School. Before joining SAS, Martim was a partner on the Business Analytics focused consulting firm, Noscitare where he led the delivery of many IT projects in financial services companies. Martim has a post-graduate degree in Business Administration from Nova SBE and has an undergraduate degree in Computer Science from ISIG.   Luis Jesus, Senior Manager at Risk, Fraud and Compliance Solutions , SAS Luis Jesus is a risk management professional with 20+ years of experience in the financial services sector. He is currently a Senior Manager in the Integrated Balance-sheet Management solutions. Luís has a professional experience of more than 20 years in the financial sector being involved in different risk management projects namely on the implementation of the Basel Accord requirements, development of PD, LGD and CCF models, operational risk frameworks, recovery and resolution plans, ICAAP and ILAAP frameworks, development of IFRS9 compliant impairment calculation information systems and risk governance. Before joining SAS he was the Chief Risk Officer in a Portuguese bank and before that he was an Associated Partner in KPMG. Links from today’s discussion: https://www.sas.com/en/whitepapers/how-to-win-by-liberating-alm-113740.html [https://www.sas.com/gms/redirect.jsp?detail=PLN34238_1266106872]   Over the years, GARP and SAS have partnered to bring risk practitioners unique insights on a variety of topics related to risk management. Now we present a series of podcasts focused on making financial risk-based decisions in light of the rapid evolution of artificial intelligence and machine learning.   About SAS SAS is a global leader in data and AI. We help organizations transform data into trusted decisions faster by providing knowledge in the moments that matter. No matter how you prioritize risk, SAS has proven solutions and best practices to help organizations establish a risk-aware culture, optimize capital and liquidity, and meet regulatory demands. SAS® provides on-demand, high-performance risk analytics to ensure greater efficiency and transparency. Strike the right balance between short- and long-term strategies. And confidently address changing regulations and manage compliance. Discover why 90% of the Fortune 100 use SAS. sas.com/riskmanagement.

Hear from Pedro Morales, the Director and Global Head of AML/Sanctions Compliance at Google, about AI, cyber threats, fraud, third-party risk, regulation and other complex operational resilience obstacles, trends and risks. The Federal Reserve defines operational resilience as the ability to deliver operations, including critical operations and core business lines, through a disruption from any hazard. In an interconnected world rife with volatility and uncertainty, there are certainly a plethora of hazards that can disrupt a business, and managing operational resilience is therefore a daunting task. At financial institutions, the operational resilience umbrella covers everything from AI, geopolitical threats and cyber risk to fraud, money laundering, IT outrages, third-party risk and disaster recovery. Indeed, on any given day, an operational resilience leader could have to contend with, for example, a cyberattack, an AI threat, a money-laundering scheme, or the fallout from a natural disaster or from wars in Eastern Europe and the Middle East. Governance and regulatory obstacles, moreover, also come with the job. With so many different problems to contend with, there’s not necessarily a one-size-fits-all approach for operational resilience. But a manager must stay on top of trends and be aware of all potential risks, while also following best practices – all as part of an effort to withstand, adapt and recover from disruptive events. *The views expressed by our guest speaker, Pedro Morales, are his alone and do not necessarily reflect those of his employer. Relevant Links: GARP Benchmarking Initiative [https://www.garp.org/garp-benchmarking-initiative] Risk Intelligence: Operational Risk [https://www.garp.org/risk-intelligence/operational]   Speaker’s Bio Pedro Morales is the Director and Global Head of AML/Sanctions Compliance for Google. He previously served as Google’s Global Head of Enterprise Risk Management for Payments, and has also worked in various leadership roles at the Federal Reserve Bank of New York, where he supervised large banks.

Join industry experts Theodora Lau, founder of Unconventional Ventures and co-author of The Metaverse Economy and Beyond Good, and Julie Muckleroy, Global Banking Strategist at SAS as they explore the critical crossroads of AI in banking for 2025. This podcast delves into how banks are shifting from AI hype to strategic implementation, focusing on building foundational elements like data governance and trust. The conversation examines how mature approaches to AI can align investment with board priorities, select strategic use cases, and ultimately deliver meaningful return on investment while navigating complex regulatory landscapes. Key Insights: - How banks can align AI strategies with business priorities - Potential benefits and risks of AI technology - Innovative applications supporting small businesses, fraud prevention, and customer experience - Social good opportunities in AI development Dive into the future of banking technology with this must-listen podcast episode. Relevant Links: 2025 Trends in Global Banking | SAS [https://www.sas.com/en_us/webinars/2025-trends-in-global-banking.html]   Speakers’ Bio Theodora Lau, Founder, Unconventional Ventures Theodora Lau is the founder of Unconventional Ventures, a public speaker, and an advisor. She is the co-author of The Metaverse Economy (2023) and Beyond Good (2021), and host of One Vision, a podcast on fintech and innovation. Her monthly column on FinTech Futures explores the intersection of financial services, tech, and humanity. She is named one of American Banker’s Most Influential Women in FinTech in 2023. She is also a regular contributor and commentator for top industry events and publications, including BBC News, Finovate, American Banker, and Journal of Digital Banking. Julie Muckleroy, Global Banking Strategist, SAS With a background in marketing leadership roles at SaaS organizations and large US banks like Bank of America and Wells Fargo, Julie brings extensive knowledge and expertise in global banking trends and marketing strategies. She evaluates the future state of banking as a strategist at SAS.   Over the years, GARP and SAS have partnered to bring risk practitioners unique insights on a variety of topics related to risk management. Now we present a series of podcasts focused on making financial risk-based decisions in light of the rapid evolution of artificial intelligence and machine learning. About SAS SAS is a global leader in data and AI. We help organizations transform data into trusted decisions faster by providing knowledge in the moments that matter. No matter how you prioritize risk, SAS has proven solutions and best practices to help organizations establish a risk-aware culture, optimize capital and liquidity, and meet regulatory demands. SAS® provides on-demand, high-performance risk analytics to ensure greater efficiency and transparency. Strike the right balance between short- and long-term strategies.