Chapter Meeting

AI in Risk Management: Promise, Peril, and the Accountability Gap 

May 19, 2026 6:30 PM | South India Chapter | In-Person

Details

May 19, 2026
6:30 PM - 9:30 PM

In-Person

THE Park Bangalore, 14/7, The Park, MG Road Bhaskaran Rd, Sivanchetti Gardens, Bengaluru, Karnataka 560042, Karnataka 560042

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South India Chapter: Artificial intelligence is rapidly moving from experimentation to deployment across risk functions – powering real-time credit monitoring, fraud detection, stress testing, and regulatory reporting. Yet as AI embeds itself deeper into risk decisions, a critical question remains unresolved: when an AI-driven risk process fails, who is accountable? 

This session explores the dual nature of AI in risk management, its genuine promise as a force multiplier for risk teams, and the less-discussed perils around model opacity, governance gaps, and the erosion of human judgment in high-stakes decisions. With Indian regulators actively shaping the landscape, from RBI's IT risk and model risk guidelines to SEBI's evolving algorithmic oversight framework, the stakes for practitioners have never been higher. 

Attendees will be invited to take a position: Is AI a Sentinel (vigilant, reliable, augmenting human oversight), a Co-pilot (useful but requiring an alert human hand on the controls), or a Trojan Horse (introducing systemic risk beneath a veneer of efficiency)? The debate format is designed to reveal practitioner perspectives and challenge comfortable assumptions. 

Key themes to be covered: 

  • AI deployment across risk functions: credit, market, operational and compliance risk 
  • The model accountability gap – explainability, auditability and the black-box problem 
  • Governance frameworks for AI in regulated financial institutions 
  • RBI's IT Risk & Cybersecurity Framework and SEBI's algo guidelines – what they demand from risk teams today 
  • Human-in-the-loop vs. autonomous decision-making: where should the line be drawn? 
  • Lessons from early AI risk failures – what institutions are quietly learning 
  • The future of the risk professional in an AI-augmented function 

Registration is required as seats are limited. Priority will be given to GARP Individual Members.

Agenda 

6:30-7:00 PM: Registration 

7:00-7:15 PM: Welcome Remarks and Introduction 

7:15-8:15PM: Panel Discussion 

8:15-8:30PM: Audience Q&A 

8:30-9:30PM: Networking with Dinner 

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Speakers

Bill May

Bill May

Managing Director, Global Head of Certifications and Educational Programs, GARP
Bill May

Bill May

Managing Director, Global Head of Certifications and Educational Programs, GARP

William (Bill) May is the Managing Director of Global Head of Certifications and Educational Programs at GARP, and is responsible for the FRM, SCR, and other risk-relevant educational programs. Prior to joining GARP, William had over 20 years of market experience including serving as a Senior Director in Fitch Ratings’ credit market research group and as a Senior Research Officer at UBS Wealth Management. He has worked for several buy-side and sell-side firms including Bank of America and Federated Investors as well as specialty firms like Andrew Kalotay Associates and Law and Economic Consulting Group. He began his career in the research function of the Federal Reserve Bank of New York and has worked on the Open Market Trading Desk and as a bank examiner. William holds a BS in applied mathematics and economics from Stony Brook University; an MBA, MA in economics, and Advanced Certificate in financial econometrics and data analysis from Fordham University; an MS in financial engineering from the NYU Tandon School of Engineering, an MS in applied statistics and an EdM in measurement and evaluation from Columbia University’s Teachers College where he is currently pursuing an MS in neuroscience and education.
Lakshmi Narasimhan

Lakshmi Narasimhan

Partner, Financial Risk Practice, Deloitte India LLP

Moderators

Richa J Shrivastava, FRM, SCR

Richa J Shrivastava, FRM, SCR

Executive Director- Head of Internal Audit, National Australia Bank Global Innovation Centre
Richa J Shrivastava, FRM, SCR

Richa J Shrivastava, FRM, SCR

Executive Director- Head of Internal Audit, National Australia Bank Global Innovation Centre

Richa currently serves as the Head of Internal Audit Function at NAB India Global Innovation Centre. With a focus on financial risk management and compliance, she looks at tech-integrated and model enabled robust internal audits that safeguard the bank's integrity. Richa’s career spans over two decades, having worked with notable organizations, making significant contributions to the end-to-end management of audit operations across regions including Europe, Australia, USA, Southeast Asia, and the Middle East. 

She is committed to sharing her rich knowledge at auditing and risk management forums and leads multiple initiatives focusing on women in leadership and diversity, equity, and inclusion. 

Richa is a qualified Chartered Accountant, a certified FRM and an SCR holder. She is also an Embargoes Foundation specialist.  

Chapter Directors

Richa Shrivastava
Executive Director- Head of Internal Audit, National Australia Bank Global Innovation Centre

Natraj Korgaonkar
Senior Manager Business Execution, Wells Fargo

Committee Members

Saurabh Dongare
Market Risk and Model Validation, KPMG

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