Speakers BCEC 2019
AML/Financial Crime Prevention Course Director
Tim joined the ICT (International Compliance Training) from the Gambling Commission where, as AML lead, he was responsible for AML regulatory and supervisory activity. This was preceded by thirty years in UK Law Enforcement spanning the police, Serious Organised Crime Agency (SOCA) and National Crime Agency (NCA). Other roles included oversight of the UK’s INTERPOL & EUROPOL central bureaus, and, working with the Serious Fraud Office in the investigation of complex fraud. Countering the threat of money laundering has been a recurrent theme throughout Tim’s career. He established money laundering investigation teams across the UK, developed innovative tactics to counter the threat, and worked with multiple domestic and international partners to track and eliminate laundering at source.
Tim spoke about corruption as global risk and presented, what it means to be compliant with the extra-territorial anti-bribery laws, showing us how does UK Bribery Act affect European companies.
Advantages of human vs artificial intelligence are diminishing year by year. Inter-personal skills, ‘intuition’ and other ‘soft’ skills are being developed by AI in addition to a depth of expertise, experience and knowledge that no human being can match. The challenge we face is establishing boundaries for AI activity or we risk eliminating human thought and effort from increasingly large parts of our professional activities.
AI is already being deployed in the context of compliance including CDD, transaction monitoring and sanction screening. At present this is the thin end of the wedge but global banks, currently spending $billions to meet compliance requirements are naturally looking for ways in which AI and similar technology can realise savings. It’s difficult to identify an element of current compliance activity that is insulated from AI.
Two key considerations here – firstly, the skills of a compliance professional 5 and 10 years from now are changing.
Secondly – it isn’t just about AI. Its power is amplified as it is linked to other technologies including the blockchain, big data, biometrics.
In the context of financial crime there are compelling arguments that global AML policy (costing many billions of $) isn’t effective. In this context, there is a risk that governments, regulators will de-prioritise compliance activity in favour of other priorities – capitulating to money launderers and the corrupt worldwide as well as increasing the risk of financial crisis etc
I develop and deliver AML and financial crime training to global banks and other regulated entities.
Nothing further to the above.
Tim Tyler, AML/Financial Crime Prevention Course Director, International Compliance Association (ICA)
Lawyer at Jadek & Pensa Law Firm
Aljaž studied law at Ljubljana Faculty of Law. He now works as a lawyer at Jadek & Pensa Law Firm. They had recently established J&P NewTech team, which deals particularly with new technologies. Aljaž is the head of blockchain legal experts, and has introduced and implemented the first product based on blockchain technology to the workflow of the law firm. He is a dedicated blockchain legal expert who provides modern and business-oriented legal solutions for business and state institutions. He works as a recognized expert at the national level with various authorities to promote forward-looking regulatory environment for blockchain projects. He gave several lectures and provided workshops for different audiences, like blockchain community, companies, judges, attorneys, students. Aljaž cooperates with other experts at Jadek & Pensa law firm, who specialize in other legal fields such as corporate governance in order to have an in-depth insight into the related legal fields and to promote suitable regulatory environment for blockchain technologies.
Aljaž is also a member of the management board and head of the regulatory working group at the Slovenian Blockchain Think Thank, a non-government organization that promotes the use of the blockchain technology in different fields and educates about this technology. He led the preparation of the Guidelines for Performance of ICO in Slovenia.
At the round table, Aljaž discussed the general state of the regulation of new technologies and new business models. He supplemented this with illustrating concrete activities, which are taking place in this respect in Slovenia. From the international floor, Aljaž introduced concepts of ‘smart contracts’ and ‘decentralized autonomous organizations’ and the influence of these new solutions on companies and the market. However, in order to safely implement these solutions, an appropriate legal structure is needed. At the round table, Aljaž tried to illustrate challenges, which we need to overcome on our way to the era of general use of these new technologies.
I believe AI will have difficulties to replace several human elements, but on the otherhand could help with several automation tasks which cannot be processed withexisting technologies. These new automations and analysis could facilitate severalbusiness processes and obtain new knowledge or free the resources. New knowledgeand resources could increase the profit and improve the general wellbeing.
With time AI will only provide a new layer of computer automation in our every day,as it has been in the past with all the technological progress. This will enable us tofocus only on the important tasks which will require human intervention. Sameapplies for the compliance where AI could help us with next level of automation. Ibelieve the times where the human intervention will be replaced with the AI ineveryday use are not very near, nevertheless the AI could be beneficial for several“smart” automation solutions, also on the field of compliance.
I believe the greatest risk is to keep track and adopt to all the new social relationshipsand business models which are based on the new technologies. The new socialrelationships and business models could influence our work, risk and compliancethus, it is crucial to understand them in order to adopt accordingly. I believe in thelong run the entities which will not be able to recognize these circumstances andadopt will have difficulties to stay on the market and compete with all the marketcompetitors.
Currently I am paying attention to the implementation of the 5 th Anti-MoneyLaundering Directive in to Slovenian law, as it will have some very importantconsequences on some of the companies which are dealing with new technologies. We will see how the remote identification will be regulated. The remote identification is crucial for all the AML obliged entities – especially for fintech companies.
When implementing new technologies, the companies shall analyse all the newrelationships and circumstances as the newly formed relationships and businessmodels which are based on the new technologies could have a big effect on thecompliance obligations. It is often the case that the new technologies shift oreliminate the subject of regulation, thus it is crucial to know who the subject ofregulation is in these new business models. Ultimately these findings could be ashowstopper or a gold mine.
Aljaž Jadek, atorney at law in the Law firm Jadek & Pensa
Responsible AI at PwC’s Data Analytics Global Centre of Excellence, Czech Republic
Jan Šimbera is a Senior Consultant in PwC’s Data Analytics Global Centre of Excellence, Prague. He led the global technical development of PwC’s Responsible AI Toolkit. He is currently finishing his PhD in geospatial data analytics.
Artificial Intelligence is expected to become a major value driver in the coming years, but managing the automated decision-making it entails to maintain ethical integrity and regulatory compliance is a major challenge across industries.
In his presentation, Jan looked at the major ethical and legal principles of AI applications. He reviewed the risks of bias, unexplainability and instability in AI solutions and discussed ways to mitigate them while maintaining the performance of AI-powered solutions.
The greatest disadvantage of us humans, quite obviously, is the low ability to analyse large amounts of complex facts to make good rational decisions; however, we also possess, through our long evolutionary history of social adaptation, a sense for morality, justice and ethics that is hard to transfer to the artificial world.
The technological capabilities of AI-based data acquisition and prediction of human behaviour will continue to rise exponentially, as will the readiness of people and companies to adopt these powerful practices. The workload for compliance and risk professions will shift further from manually executing processes to overseeing automated solutions.
The advent of AI poses a number of risks – some current AI solutions are black-box and their decisions are hard to interpret, yet more of them carry over biases from the past, threatening individual justice and freedom, and problems with insufficient governance and ethical oversight are also ubiquitous. All these risks can significantly impact companies’ profitability and, perhaps more importantly, reputation.
Jan Šimbera, Senior Consultant, PWC’s Data Analytics Global Centre of Excellence, Czech Republic
PhD in Ethnology and Cultural Anthropology, Assistant Professor and Research Fellow at Institute of Slovenian Ethnology, Research Centre of the Slovenian Academy of Sciences and Arts,Founder and Executive Advisor at EASA Applied Anthropology Network
Dan Podjed, PhD, is an applied anthropologist from Slovenia, devoted to developing people-friendly and environmentally responsible technologies. He is a Research Fellow at the Research Centre of the Slovenian Academy of Sciences and Arts, a Researcher at the Institute for Innovation and Development of the University of Ljubljana, and an Assistant Professor for Cultural and Social Anthropology at the University of Ljubljana’s Faculty of Arts. He has led many applied and interdisciplinary projects (DriveGreen, Invisible Life of Waste, etc.) and has been involved in development of several ethnography-based IT solutions (MOBISTYLE, TripleA-reno, U-CERT, etc.). He founded the EASA Applied Anthropology Network (served as convenor from 2010 to 2018) and co-founded Why the World Needs Anthropologists, the main European meeting of applied anthropologists, annually organised since 2013. His recent book, Seen, which explains why we like watching others and being watched in return, was published in 2019.
At the conference, he discussed what are the ethical aspects of technology.
When comparing the rise of ‘processor power’ of humans and computers, we might start being worried. Human ‘processor’, i.e. our brain, hasn’t significantly changed in the past 100,000 years. Meanwhile, development of computer processors keeps following the Moore’s Law and their computational power doubles every year and a half. How can humans compete against the exponential growth of AI? In my opinion, by emphasizing what defines our species, Homo sapiens. We should start collaborating as a global community and get over borders and boundaries between the people – they are, after all, arbitrary and often non-productive. In addition, we should keep using the technologies as human extensions – as it has been case in the past –, instead of gradually becoming extensions of technologies.
We are witnessing one of the largest professional transformations in history. Monotonous and repetitive professions (drivers, cleaners, farmers, mail carriers, accountants, etc.) are on the brink of extinction and will be replaced by computers and machines. On the other hand, there are new professions on the rise, for example creative jobs dealing with design of solutions for human-technology interaction. Similarly, important will remain the jobs that are connected to understanding and supporting interactions between humans, e.g. social workers, psychologists, and anthropologists.
A major risk, connected to disappearance of professions, is that people will start rebelling against the automated machines and AI, which have already started taking over their jobs. Meanwhile, designers of these automated systems – a new digital elite – will try to strengthen their positions in the ‘brave new world’, based on smart things, robots, and artificial intelligence. In addition, representatives of the elite will be able to upgrade and enhance their cognitive capabilities via brain-machine interfaces, while the contemporary ‘plebeians’ will remain disconnected. The divide between the two groups might cause a huge split in humanity. What might happen next? Several futurists, including Ray Kurzweil, Byron Reese and Yuval Noah Harari, have tried to answer the question. In my opinion, a revolution is on the horizon.
I currently lead the ‘Invisible Life of Waste’ project, which will hopefully influence our shopping and waste management habits. The main goal of the project is to develop an innovative IT solution that will help detect and visualize the production of waste in households as well as promote waste reduction. The development of the solution is based on people-centered approach and started with a comparative research into waste management practices in six cities: Ljubljana, Graz, Trieste, Zagreb, Oslo, and Dubai. Initially, we try to understand how and why things in different cultural environments become waste. Afterwards, we will use these findings to develop new solutions for motivating people to shop more responsibly, to recycle and reuse things, and to start noticing the invisible actors taking care of trash in cities, e.g. sanitation workers, laborers at landfills, and people working in recycling facilities. A part of the solution will be non-digital; a board game, titled the ‘Dirty Game’, will be presented already in 2020.
Dr. Dan Podjed, ZRC SAZU
Head of Project Group for New Economy and Blockchain Technologies at Ministry of Economic Development and Technology, UNECE expert and Head of Delegation for Slovenia
Nena is experienced Center Director with a demonstrated history of working in the government administration industry. She is skilled in Policy Analysis, Analytical Skills, Government, Strategic Planning, and Marketing Strategy. She has a Master’s degree focused in Business Administration and Management, General from Faculty of economics, Ljubljana.
At the conference she spoke about different social, economic and legal aspects of blockchain technology. In addition, she presented the effect which blockchain technology will have on all aspects of life and work in the future and what are the activities of European Union at establishing Europeanblockchain infrastructure for the year 2019-2020.
Olympic Silver Medalist, MA Performance Psychologist, Barkley University Graduate
Sara won a Silver Olympic medal at the 2008 Beijing Olympics, with the time of 1.54.97, being the second woman to ever drop below the 1.55 mark. As a 3-time NCAA team champion, she graduated with a degree in Psychology at the University of California Berkeley. Later she earned her Master’s degree in Performance Psychology in San Diego, graduating with honors. Her master’s thesis focused on Aviation Psychology, exploring the effect of mindfulness training in airline pilots. When Sara pursued brain research at University of California San Diego, she studied US Navy Seals, Marines and Olympic Athletes, focusing on exploring neural mechanisms of optimal performance, resilience and stress coping mechanisms. As a co-author, Sara has been published in two research journals- Frontiers in Behavioral Neuroscience and Biological Psychology.
Later, she took up a work as an intern at the Emirates Airlines psychology department in Dubai, where she built her own mental training program for airline pilots. After taking on multiple projects around the world, like joining a startup in Oslo and preparing four Norwegian girls to row across the Atlantic, she decided to return back home to Slovenia, where she now lectures and mentally prepares performers of various backgrounds for optimal performance within their field. She is teaching how the brain works sports and business people, as well as schoolchildren, all in a relatable, practical and fun way.
At the conference, she shared with us how to manage stress and anxiety around compliance and risk, as well as what is it in our brain that drives bad behavior, how to recognize most common triggers and positively influence these complex brain mechanisms.
I like to be genuine and honest in everything I do. I practice what I preach and I stay true to who I am. With a caring, positive and inspiring attitude people tend to respect and appreciate you, and therefore trust you. I try to live by those values.
As a 15-year member of the national Slovenian swim team I liked to believe that sticking to fair play, honest communication and working for the benefit of all, was what kept us strong and cohesive.
I cannot recall being in a challenging ethical dilemma. As a professional athlete I was strictly against doping, and never considered taking performance enhancing drugs to benefit my career. I have to say I’ve also never even been exposed to a situation where someone would offer doping or have me consider it.
I am currently working in the field of performance psychology, equipping individuals with relevant mental skills and tools that will allow them to optimally perform within their performance environment. We dive into mindfulness training as a core component of psychological resilience, as well as visualization techniques to help prepare for their performance in advance. So far I’ve worked with elite athletes, extreme performers, pilots, business personnel, and musicians. Understanding how the brain works and engaging in actual mental training is key, when wanting to achieve success. I also wrote a book for swimmers (psychology of swimming), and planning on translating the material in other performance fields.
When you gain awareness of how your brain works, and how it’s designed to trick you– you gain the power to master your own inner world: making appropriate, ethical and moral decisions.
Sara Isaković, Olympic Silver Medalist, MA Performance Psychologist, Barkley University Graduate
Adjunct Faculty at IE University
Sally is an international commercial lawyer and certified compliance and ethics professional. She has extensive experience in Russia, as well as the US and Europe. Always interested in cultural issues, organizational change and people’s behavior, she is collecting, studying, sharing and applying stories on how to build and use corporate culture to protect reputation and enhance brand value. She is also a member of an exam committee for the Certified Compliance and Ethics Professional – International certification and regular contributor to “Compliance and Ethics Professional” magazine. She is currently teaching compliance at law school, at IE University in Spain.
Sally presented her favorite stories about good and bad behavior from her compliance experiences and lessons learned. Relating, she also shared her views on how can technology support compliance and risk management and how this influences our profession.
Integrity and fairness. We must be authentic and approachable, but above all, we earn respect by doing what we say we will do and treating people with respect.
Leaders must lead by example. It is no longer “Tone at the Top” but “Conduct at the Top” that matters.
It starts with the Board. Directors are responsible for the strategy and the values of an organisation. The Board must ensure that there is a culture in which everyone’s behaviour is aligned with the company’s purpose.
A leading indicator of a culture of integrity is that employees feel safe to speak up and confident that action will be taken when they do. The Board should challenge the CEO to demonstrate that this is true.
I had to take over a corruption investigation which had been undermined by a senior executive who leaked it to the team under investigation. Until that point, I had been convinced of the executive’s integrity. However, he dug in and pushed for conclusive proof of his team’s misconduct. I escalated the matter to the General Counsel and the CEO so that the decisions were taken by people who were not personally involved.
I now teach the next generation of compliance professionals, particularly those in countries where “compliance” and anti-corruption laws are new. I am so impressed with the people who want to be on the crest of this wave.
I have three messages: (1) You are not alone. Take every opportunity to get to know your allies within your company and to network with other compliance professionals. It really helps. (2) Focus on culture. We are dealing with people. We can have an excellent program on paper and if leaders don’t lead by example, or if people think “the way we do things here” doesn’t involve ethical behaviour, a compliance program will fail. Remember Enron. (3) Save time for thinking about where I can have the greatest impact. We are so busy with activities and checklists, but if we just take time out to think, we often see that we can have a greater impact if we use our time differently.
Sally March, Adjunct Faculty at IE University
Group Compliance Officer for Scandlines, member of the Executive Committee of a German Compliance association (BCM)
At the Danish-German ferry operator Scandlines, Jenny is responsible for Compliance Management, Enterprise Risk Management and the coordination of the Internal Audit activities. Preceding this responsibility, she held various positions in internal controls, Sarbanes Oxley compliance and internal audit; including as Senior Internal Auditor at Skandia/Old Mutual (Berlin), Sarbanes Oxley/Internal Control Systems Officer at Siemens (Paris) and Sarbanes Oxley Consultant at AXA (Paris). Following her studies of International Business and Information Technology, she obtained an MBA in Governance, Risk, Compliance and Fraud Management. She is Certified Internal Auditor and Certified Fraud Examiner. Further, she is a member of the Executive Committee of a German Compliance association (BCM) and a deputy lead of a working group of the German Institute of Internal Auditors (DIIR). She publishes articles around Compliance, Internal Audit and data protection.
She was researching the impact of digitalization on Compliance management and discussed this at the conference.
As a compliance professional it is, of course, of utmost importance to behave ethically and maintain integrity in everything we do. We always need to keep in mind our role as strategic advisor to management, and anticipate the best way on how to react to new trends and upcoming risks from a compliance and risk management perspective.
The most important rule is of course the right tone from the top. If management does not lead by examples, employees cannot be expected to do so. Another paramount rule is to establish a no-blame culture, facilitating the reporting of concerns. Last but not least, zero-tolerance for incompliance and thorough investigation.
My most challenging situation was as a project manager. I found myself in a situation of conflict of interest situation where I was supposed to defend a project for my employer at an (internal) customer, which I knew, was not in the interest of the customer. I decided to leave the company.
The recently enacted trade secret act in Germany keeps me busy just as the approach to Corporate Social Responsibility and 3rd party due diligences. I also keep an eye on the technological developments, and in particular compliance with GDPR.
Let us meet and discuss how technology and global risks impact our daily work at this international event!
The largest global risk for my work in compliance and risk management at my organization is and will be around new technologies; including cyber risk. This is due to new technologies will change the way I will be able to perform my compliance, internal audit and risk work; e.g. through new (monitoring) tools and approaches. Further, as a business, our operations are largely relying on technology and therefore cyber risk is a real concern we need to address, as well as the protection of data relating to our many customers and staff.
Jenny Schmigale, Group Compliance Officer for Scandlines
Group Compliance Officer at RWA Raiffeisen Ware Austria AG
Manfred Klika has been Compliance Officer of the RWA Raiffeisen Ware Austria AG Group since July 2013. He designed and implemented the Compliance Management System of the RWA, focusing on antitrust compliance. In his function, he holds in-house training courses in Austria and abroad. He has a total of 14 years of professional experience as a trainee lawyer (with Austrian bar exam) and as a corporate lawyer. He is also a certified Compliance Officer and has recently completed an LLM in Competition Law at the QMUL in London.
He spoke about how do algorithms and big data affect competition in various ways and raise questions concerning all three pillars of competition law.
From my point of view, it is important to be authentic, open minded and honest.
Make sure that all levels of management feel responsible. Try to create a company culture in which doing the right thing is the norm. Give people the tools they need to make the right decision in a risky situation.
I’m still very much working on GDPR issues.
I’m honoured and excited to be part of this conference. Moreover, I hope that my contribution about competition law is going to be interesting and beneficial for the attending participants.
Manfred Klika, Group Compliance Officer at RWA Raiffeisen Ware Austria AG
Manager in Forensic Services, Head of Financial Crime at PwC Slovenia
Specialist in financial crime technology, PwC Czech Republic
Lukaš is a specialist in financial crime technology based in Prague and who has worked on financial crime (AML, Sanctions, fraud detection and prevention) project for banks globally (including also Slovenia and Serbia). Oliver is Chartered Accountant (FCA) and Chartered Tax Adviser (CTA) with 20 years of experiences in professional services and industry in Slovenia, France and the UK. His main fields of expertise are fraud investigation and prevention, regulatory compliance, financial and compliance due diligence.
Their presentation focused on the use of analytics and technology in optimising the management of financial crime risks (primarily AML, but also relevant for Sanctions compliance and fraud detection).
Risk Solution Consultant, Refinitiv
Christopher studied history and law at Arizona State University. He has years of compliance experience in both the first and second lines of defense. He currently works for Refinitiv helping clients fight financial crime and meet their regulatory obligations.
At the conference Christopher analysed the practical examples of money laundering throughout history and explained what they all have in common. By doing so, he outlined how the risk of money laundering and terrorism financing is being evolved by new technologies.
The methods are complementary. Artificial intelligence is good at rapidly processing simple, repetitive tasks. Humans are more creative and can solve complex problems. Therefore, AI can enable people to focus on higher value, and more interesting, tasks. The danger is that AI algorithms are harder for people to understand compared to traditional rules-based algorithms. Understanding how these algorithms work relies heavily on testing and there is a greater chance that incorrect results will take longer to detect. While AI has a lot of potential, users must understand the risks and implement controls and measures to manage the risk.
Compliance is still seen by many managers solely as a cost and unfortunately many companies wouldn’t do anything in the absence of legal requirements. Upgrading to new technologies will therefore take time as companies will be hesitant to spend money changing processes that already work. This means that compliance officers will not be the first to benefit from the new technologies, but they will be responsible for managing the risks in other areas of the business. Compliance officers may not have the technical backgrounds necessary to fully appreciate the risks.
Political risks are currently the biggest issue. Life is complex and it is easy for people to feel sympathy for populist politicians promising simplistic answers. The rise of populist politicians to positions of power has escalated in the past decade. Trade wars, the increased use of economic sanctions and more aggressive “active measures” create more opportunities for individuals and businesses to be caught in the crossfire of international disputes.
I am devoting a lot of time to public outreach and promoting the fight against financial crime. Financial crime is easy to ignore because the victims are often hard to identify, and the crimes are complicated. But the victims and costs are real and there are many concrete actions that can and should be taken.
Be sceptical and vigilant. If something doesn’t make sense, ask questions. If you can’t find a reasonable answer, speak up. Nothing will get better unless we all start thinking and taking responsibility.
Christopher Stringham, Risk Solution Consultant at Refinitiv
Senior Director, Digital Diplomacy at Microsoft
As part of the Digital Diplomacy team at Microsoft, Kaja leads Microsoft work on issues related to international peace and stability to advance trust in the computing ecosystem. Previously, she led Microsoft’s international cybersecurity policy work in an effort to develop policies that support development, growth, and innovation, and advance security, privacy, and trust in the information age. Before joining Microsoft, Kaja led the APCO Worldwide’s technology practice in Seattle; directing public affairs and communication work for consultancy’s clients in this space. She holds a Bachelor of Science in international relations and history, and a Master of Science in European politics, both from the London School of Economics.
At the conference, Kaja presented the evolving role of artificial intelligence, opportunities and challenges of the future.
Compared with the world just 20 years ago, we take a lot of things for granted that used to be the stuff of science fiction. Clearly much can change in just two decades. At Microsoft, we imagine a world where digital devices will help us do more with one of our most precious commodities: time.
As we move forward, it will be essential for governments, the private sector, academia, and the social sector to join together to explore how to integrate AI in an ethical and responsible way. This will include new models of cooperation and regulation, given the speed of development and change today.
My focus currently is on cyberwarfare; seeking to understand how governments today are using cyberspace as a new domain of war. In my work I partner with a diverse set of stakeholders around the world to limit this practice, ensuring that the dangers to civilian and civilian infrastructure remain minimal.
It is already clear that the companies and countries that will fare best in the AI era will be those that embrace these changes rapidly and effectively. This is because new jobs and economic growth will come to those that embrace the technology, not those that resist or delay adopting it. Second, while we believe that AI will help solve big societal problems, we must look to this future with a critical eye. There will be challenges as well as opportunities. We must address the need for strong ethical principles, the evolution of laws, training for new skills and even labor market reforms. This must all come together if we’re going to make the most of AI.
Kaja Ciglic, Senior Director, Digital Diplomacy at Microsoft
Full Professor at the Faculty of Economics and Business, University of Maribor
Timotej Jagrič is full professor of applied economics and econometrics and full professor of finance. He works at University of Maribor, at the Department for Finance and is Head of the Institute for Finance and Banking. He gives classes on undergraduate, graduate and PhD level on universities in and outside Slovenia. He was visiting researcher at Humboldt University of Berlin in the Collaborative Research Center (SFB) 649 “Economic Risk”. He has worked as chairmen of the supervisory board of the largest re-insurance company in Slovenia, as member of the Strategic council of the government of the Republic of Slovenia, and as advisor for many government and other public institutions in CEE region. He is actively working as consultant in the field of risk management, health economics and artificial intelligence. He has published papers in top ranked journals and actively participates on scientific and professional conferences around the world. Timotej Jagrič received his first PhD from University of Maribor and his second PhD from University of Primorska. He is Certified in Quantitative Risk Management (CQRM).
At the conference Timotej discussed does using AI in risk management make a difference as well as presented some best practices.
Humans behave and decide irrational and emotional. Not always, but in some fields, this can lead to wrong decisions. Nevertheless, the key factor of a success in a company is still human with his creative potential, which cannot be imitated by any kind of known AI.
Technology can make them easier when a lot of data has to be evaluated in an extremely short time period. It can beware from human errors in business processes. However, risk experts will still need to see the unpredictable and be creative. Also, additional risks arise when AI is implemented into business process.
The inability of governments to act together against global networks or individuals committing crime, terrorism, tax evasion, environmental damage. New technologies also make possible to erode the foundations of an independent government like the loss of monetary sovereignty, which exposes companies to new risks.
At my institute, we are currently working on new types of artificial neural networks (3rd generation) which will be implemented in dedicated hardware. Such machines can be than used for different purposes like fraud detection, mechanical trading systems, medical diagnostic processes …
Artificial intelligence can support your business but it is not a universal key to success and its implementation requires a lot of resources.
Prof. Ddr. Timotej Jagrič, Professor at Faculty of Economics and Business, University of Maribor, CQRM
Managing Director, Impact on Integrity
Murray has built a reputation for delivering impactful training and consulting, linking compliance and integrity to engagement, performance and profitability.
His professional experience includes eleven years in legal and compliance with Airbus S.A.S. in France, prior to which he worked for the law firms Allens Arthur Robinson in Sydney and Denton Wilde Sapte in London. He holds an M.A. (Hons) in International Relations and German from the University of St Andrews, postgraduate qualifications from The College of Law and BPP Law School in London and the Global Executive MBA from IESE Business School.
Murray has written and presented for organisations in Spain, UK and the US and previously served as Chair of the ECOA Global Business Interest Group. He is a member of the Law Society of England and Wales and the ICA. He speaks English, French, German and Spanish and is based in Madrid.
At the conference, Murray presented requirements of the recent EU Whistelblowers protection Directive and how can you best use technology in effective compliance help-line management practice and the related global best practices.
Center for Advanced Sustainable Management (CASM), Cologne Business School and Dr. Jürgen Meyer Endowed Chair for International Business Ethics and CSR, Director and owner of M3TRIX GmbH consultancy, Germany
Prof. Dr. René Schmidpeter holds the Dr.Juergen Meyer Endowed Chair of International Business Ethics and Corporate Social Responsibility at Cologne Business School (CBS), Germany. He is also a professor at the Nanjing University of Finance and Economics and Adjunct Professor at Murdoch University in Perth, Australia. He is a series editor for Springer’s CSR, Sustainability, Ethics and Governance books, a section editor of the Encyclopedia of Corporate Social Responsibility (ECSR) and an editor of the Dictionary of Corporate Social Responsibility (DCSR) as well as Editor-in-Chief of the International Journal of CSR (Springer). His research and teaching activities focus on the management of Corporate Social Responsibility, international perspectives on CSR, Social Innovation and Sustainable Entrepreneurship as well as the relationship between business and society.
At the conference René moderated a panel discussion about Advantages and weaknesses of Humanity vs. Technology in the light of business compliance and ethics.