On-Demand Webinar

Consumer Duty PS22/9: Raising the Bar of Responsible AI in Financial Services

What steps need to be taken across your organisation to meet the FCA’s new regulation?

About the webinar

Following the arrival of the FCA’s Consumer Duty, it is clear banks, building societies and insurers need to rethink every aspect of their relationships with retail customers, including their use of AI in decision-making.

With the FCA taking a robust position on enforcement, what steps need to be taken across the organisation to meet the new regulation? What compliance risks could arise without trustworthy AI practices in place? And how can organisations build a long-term responsible AI strategy from Consumer Duty PS22/9? 

Join this webinar to understand:

  • Key components of the FCA’s Consumer Duty and challenges for compliance 
  • Why Consumer Duty impacts AI usage across financial services
  • How to evaluate current models, address problems with model accuracy and eliminate bias
  • The various long-term advantages of proactive trustworthy AI, such as support for vulnerable customers, boosted customer loyalty and reduced operational costs
  • Understanding the role of generative AI and large language models in financial services, and how to ensure their responsible use under the FCA's Consumer Duty.

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About the Experts

Louise Potts, Head of Banking - Customer Advisory, SAS UKI

Louise Potts leads the UK Banking Customer Advisory team who are responsible for helping banks to manage risk, protect their customers from fraud and deliver great customer experience by using analytics to turn data into insight and then applying that insight at the right time to maximise impact. We aim to make banking simple, save and rewarding for everyone.

Iain Brown, Head of Data Science, SAS UKI

Dr. Iain Brown is the Head of Data Science for SAS UK&I and Adjunct Professor of Marketing Analytics at University of Southampton. Over the past decade he has worked across all sectors, providing thought leadership on the topics of Risk, AI and Machine Learning and their ethical applications.

Muzammil Shabudin, Risk Advisory Lead, SAS UKI

Muzammil is a commercially-focused risk management, governance, compliance and financial crime leader, with experience across the UK financial sector.

He is an SMF4, 16 and 17 regulatory approved person role holder, achieved via previous employment as a UK Building Society Chief Risk Officer & MLRO. Leveraging over 20 years’ domain expertise in enterprise-wide risk management across the three lines of defence, he provides trusted assurance and advice to embed risk culture, transform board effectiveness and enhance customer experience.

Mark Thundercliffe, Former CRO – HSBC, Virgin Money, Senior Advisor – SAS Northern Europe

Mark is currently a Senior Advisor at VMUK PLC after joining the group as Group CRO in September 2016, having over 30 years of Financial Services experience. Mark was formally accountable for enabling the efficient and effective governance of significant risks, and related opportunities across VMUK PLC.  Risks include strategic, reputational, operational, financial, credit, regulatory and financial crime compliance. He joined from HSBC where he was Chief Risk Officer responsible for management and oversight of risk for HSBC’s Retail Banking and Wealth Management business in 18 countries across the UK, Europe, the Middle East and Africa.

Mark has also held a number of senior international positions including President and CEO with Home Credit (Asia) and he was also an Executive Director and Business Head (Russia) with Renaissance Capital in Moscow. With Citigroup he progressed from Chief Risk Officer (UK & Ireland) to become CEO of Citi Consumer (Russia). Prior to Citi, he worked with Associates Capital Corporation, latterly as Executive and Business Head, based in India.

He is a member of the PRMIA, the Credit 500, the Consumer Credit 100 and a fellow of the Chartered Institute of Credit Management.  Mark is regularly invited to sit on industry panels and speaks at dinners across the UK to share best practice.