Risk, Resilience, Al: Transforming Financial Management

In today's dynamic financial services landscape, risk management challenges are evolving at an unprecedented pace.

- Babu Nair

In a recent fireside chat, Babu Nair, Founder & MD of Financial Technology Frontiers, sat down with Adam Ennamli, Chief Risk Officer at General Bank of Canada, to unpack emerging challenges and opportunities. Their conversation, rich with industry insights and forward-thinking strategies, provides a window into how banks and financial institutions across Canada and North America are adapting to a fluid risk environment fueled by technological disruption, regulatory shifts, and market volatility.

THE NEW DYNAMICS

Adam Ennamli highlights three defining characteristics of today's risk landscape: fluidity, interdependency, and diversity. Over the past 18 months, the industry has faced a perfect storm of rising interest rates, shrinking profit margins, and increasing default rates. Simultaneously, generative AI has introduced new attack vectors, leading to a surge in cyber threats. These factors demand a holistic risk approach, where risks are seen as interconnected rather than isolated events.

Ennamli emphasizes that traditional risk categories operational, market, and reputational are no longer sufficient. Risks now form a complex web, requiring institutions to address climate change, ESG concerns, and emerging vulnerabilities through integrated risk strategies.

AI, DATA, & CYBER INSURANCE