Artificial Intelligence for Compliance and Risk Professionals
Overview
The continued development of Artificial Intelligence (AI) has brought significant risks and rewards to the financial services industry and this brings additional challenges for those in the control functions.
This course addresses the opportunities and risks related to AI and best practice in identifying and managing such risks.
This course can also be tailored to suit your industry and business requirements.
Who is this for?
This course would be suitable for Heads of Compliance, MLROs, Compliance Officers, Risk Officers and Internal Audit staff.
Learning Outcomes
After attending this course participants will be able to:
- Describe AI both as a threat and as an asset to their firm
- Explain relevant legislation and regulations and how they apply to their business
- Describe the role of compliance in identifying and deploying AI tools
- Apply a risk-based approach to the use of AI within compliance
- Explain the challenge of fairness and AI
Course Details
Introduction to AI in financial services
- What is AI: Machine learning, natural language processing, deep learning, copilot v agents
- How AI is used by criminals: Deep fakes, synthetic IDs etc
- Benefits: Scalability, efficiency, reliability, speed, removal of human bias, error etc.
- Risks: Monitoring AI processing and evaluation
Legislation and Regulations
- Extant: EU AI Act, GDPR, UK AI policy, GDPR, US AI Regulatory frameworks
- Emerging legislation, regulations and guidance
- Enforcement actions related to mismanagement of AI
The role of compliance
- How to use and manage AI through the compliance lifecycle
- How AI is used in financial services: General Fraud detection: real time payments, detecting AI created frauds, pattern and data analytics, trends, customer-based behaviour mapping, trading algorithms, transaction monitoring, resolving cases etc.
- Identifying and deploying new AI tools
- Auditing and monitoring
- Examples of relevant usage of AI
- Data privacy and security
Using AI responsibly
- Fairness, accountability, transparency
- Bias within AI; mitigation
- Examples of ethical dilemmas
Understanding risk and AI
- Taking a risk-based approach
- Key AI risks
- AI governance
Delivery
Firms with more than 5 staff to train have the flexibility to deliver training in-person by one of our trainers at your premises, or virtually via Zoom, Teams or Webex.
Find out more about your Virtual or In-Person training experience below.
Virtual Delivery
Our virtual training courses are designed to be every bit as engaging as our in-person courses. To achieve this, our trainers use market-leading technology and a range of training techniques to ensure high levels of interaction with participants. Courses include the use of:
- Virtual ‘break-out’ rooms: participants are divided into virtual rooms to facilitate small group discussion.
- Polling: multiple-choice questions, answered anonymously, allow the trainer to assess knowledge and understanding across the group.
- Case studies: true to life case studies and scenarios are used to highlight the practical application of theoretical knowledge.
- Messaging: participants can submit questions and comments, either to the whole group or privately to the trainer.
Additional Benefits:
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Recording: public course participants have the option to access a recording of the course for one month after the course. In-House clients also have the option to record their training for an additional fee.
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On-going Q&A: public course participants can access an ongoing Q&A facility allowing them to ask questions relating to the course.
In-Person Delivery
Our in-person training is delivered face to face at your offices, and includes:
- ‘In-the-moment’ questions & discussions: questions through conversations allow the trainer to assess knowledge and understanding across the group.
- Case studies: true to life case studies and scenarios are used to explore practical application of theoretical knowledge.
- Q&A: participants can ask questions during training, either to the whole group or privately to the trainer.