GCM Seminar for Singapore
Data-Driven Optimized Operational Resilience Framework: Built on a Strong Data Governance Foundation
Wednesday, 27 November 2024
1:30 PM - 5:30 PM | SAS Singapore Office
Join us for an interactive forum on Operational Resilience, Data Governance, and the use of analytics and Gen AI in Operational Resilience.
Operational resilience is increasingly vital in today’s complex and interconnected Financial Services environment. This session provides an in-depth exploration of how Financial Institutions can strengthen their Operational Resilience posture by building robust data governance practices, introducing advanced technologies such as GenAI, a look at how analytics and data visualizations can, thus, ensure a more proactive approach to risk management and in-line with regulatory expectations. The session will offer insights from subject matter experts from both technology, analytics, and industry.
What you can expect from the session:
- An understanding of the Growing Importance of Operational Resilience
- Learn how to establish strong data governance for operational resilience; and
- Gain insights into how technology can help with data quality
- See how SAS is utilizing the latest technology trends to optimize Operational Resilience
Agenda
- Learn the importance of Operational Resilience
- Best practice approach to an optimal operational resilience framework
- Understand the need for strong data governance (internal and external) and management frameworks to support Operational Resilience.
- Introduce the role of Gen - AI and advanced analytics, built on top of a solid data foundation
- Overview of key regulatory drivers, such as MAS BCM Guidelines, CPS230, DORA etc.,
- Principles on Operational Resilience, including Process Mapping, Tolerance Levels and Monitoring
- From reactive to proactive, a paradigm shift towards proactive risk identification and mitigation
- Key Challenges Facing Operational Resilience Programs, fragmented data sources, growing interconnectness of risks, increase reliance of technologies, introduction of new technologies and increased third party reliance.
- How each line of defense (Business, Risk Departments, and Internal Audit) contributes to the management of Operational Resilience
- Aligning Operational Resilience Data needs with Business objectives and strategy (e.g. instant credit approvals etc.,)
- Identification of Data needed for Operational Resilience
- Establishing clear ownership and responsibility for operational resilience data across teams and functions. (e.g. Procurement etc.,)
- Key Elements of Effective Data Governance, e.g. availability of data, accuracy of data, timeliness of data, completeness of data, protection of sensitive data
- Managing unstructured data sources (e.g., emails, incident reports, customers discussions, chat records)
- Managing manual data inputs (e.g. consistency in data inputs on risk assessment descriptions etc.,)
- Conceptualizing a centralized data repository for operational resilience, where both structured and unstructured data are stored and can be accessed for analysis
- How technology can help to gather the data, assure the quality of the data
- Using analytics to identify patterns and pinpoint emerging risks
- The risks of utilizing AI/Gen AI in risk management activities (e.g. hallucinations, over – reliance by users etc.,)
- How can AI/GenAI be used for Operational Resilience Management
- Visualization and analysis
- Gen AI use cases for Operational Resilience
This event is no longer available for registration.
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SAS is a global leader in AI and analytics software, including industry-specific solutions. SAS helps organizations transform data into trusted decisions faster by providing knowledge in the moments that matter. SAS gives you THE POWER TO KNOW®.
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