How AI/ML is Changing Financial Risk Management

Recent news stories about platforms like ChatGPT and Bard have raised public awareness of artificial intelligence (AI) and machine learning (ML). However, the power and utility of AI/ML have long been known to financial institutions.

Drawing on the results of a recent GARP Risk Snapshots survey completed by more than 650 FRMs worldwide, Bill May, GARP’s Global Head of Certifications and Educational Programs, will moderate a panel discussion on how financial institutions are leveraging AI/ML. The experts will explore a range of topics including:

• The risk and business areas in which AI/ML is currently deployed
• The impact of AI/ML on the overall effectiveness of financial risk management
• Risks associated with the use of AI/ML in finance
• Governance of AI/ML activities
• Key lessons learned
• Current and future challenges

Speakers

John Hull, PhD

Maple Financial Chair in Derivatives and Risk Management, Joseph L. Rotman School of Management 

University of Toronto

John Hull is the Maple Financial Professor of Derivatives and Risk Management and Academic Director of the Rotman Financial Innovation Hub at the University of Toronto’s Rotman School of Management. His research has an applied focus and is concerned with risk management, bank regulation, valuation of derivatives, and machine learning. Dr. Hull is author of Machine Learning in Business: An Introduction to the World of Data Science, Third Edition, as well as several other highly regarded textbooks in finance. Dr. Hull is academic director of FinHub, Rotman’s financial innovation lab, and a senior advisor to GARP.

Lukas Kölbl, PhD, FRM 

Head of Data Science, Accenture DACH 

Dr. Lukas Kölbl is Senior Manager at Accenture Applied Intelligence and Head of Data Science ASG (Austria, Switzerland, Germany). His daily work focuses on E2E implementation of AI algorithms in the German, Swiss, and Austrian markets.

Henry Jiang

Director, Quantitative Service Group, Bank of America

Henry Jiang is a seasoned financial risk management professional who has led a range of quantitative analytics initiatives in support of process automation, portfolio optimization, AI/ML model development, behavioral analytics, desk quants trading/hedging analytics and tooling development, and new product/program enablement.

William May

SVP, Global Head of Certifications and Educational Programs, GARP

Bill May is Global Head of Certifications and Educational Programs at GARP. Prior to joining GARP, Bill spent over 20 years in senior research positions at Fitch Ratings and 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. Bill began his career performing a variety of roles at the Federal Reserve Bank of New York.