Artificial Intelligence has the capability to transform and simplify many processes and functions within finance and banking. From fraud detection to customer service support to underwriting to budgeting projections, well trained models can vastly accelerate the collection and research of data and enable humans to focus on the analysis and consideration of the model’s conclusions and outcome. This article discusses the governance required to maximize the benefits of deploying an AI model, while also communicating to your employees how they still remain pivotal and relevant within your organization.

Humans thrive on emotional connection. Our world, while increasingly interconnected through the internet and social media, actually feels more disconnected, isolated and lonely. This environment has given rise to a particularly damaging form of fraud – the romance scam. In addition to the financial cost of the fraud itself, a romance scam can be incredibly destructive to a person’s faith, trust, and emotional health.

Between June 2020 and June 2022, the number of job descriptions containing “unlimited PTO” increased exponentially; since that time, some organizations previously offering this benefit abandoned it for traditional accrued PTO systems. It’s unusual for an HR policy to create such a fierce debate where one side uses phrases like “revolutionary,” “employee-first,” and “work-life oriented,” while the opposition uses terms like “oppressive,” “abusive,” and “insidious.” This article considers organizational failures in implementing unlimited PTO, and how a risk-based approach better prepares a company for considering such a program.

With recent moves to deregulate and streamline federal governance over financial institutions, several companies have significantly scaled back compliance departments and initiatives. Often, those reorganizations and layoffs also diminished the effectiveness of their enterprise risk departments. While compliance and legal risks set the boundaries for what a company can do, other risks limit activities to what we should do. To that end, we’ve outlined a few cases where significant risks continue to be present, even though the compliance risk (at least at the federal level) has been reduced.