2019-11-23【VCAF Seminar Review】 - Risk Management and Digitalization

​On the 23th of November 2019, the VCAF Members had a lovely get-together to experience a closer insight in Risk Management and Digitalization with Mr. Markus Quick from KPMG, Mr. Dr. Markus Bock from Finanz Informatik, Ms. Yiqi Li from ING-DiBa.

 

Moderator: Ms. Jianan He

 

There were more than seventy participants from different cities in Germany, Switzerland and the Netherlands who attended the seminar. Ms. Jianan He moderated the seminar, and Chairwoman Ms. Xiaofeng Fu began with a brief review of VCAF's history and upcoming events.

 

Guest Speaker: Mr. Markus Quick

 

Mr Quick shared us with topics on Non-Financial Risk (NFR) Management, opportunities and challenges in risk digitalization. “All types of NFRs, allocated under different departments makes us isolated on the island with the only type of risk that we are assigned to" said Mr. Quick, "however, can we really separate it clearly from what belongs to model risk and what came along with the external application?" With such questions, Mr. Quick has presented us the inspiring results from KPMG's NFR Study 2019, followed by their professional suggestions about the key elements of an integrated NFR management strategy. 

 

Guest Speaker: Mr. Dr. Markus Bock

 

Mr. Dr. Bock introduced their own business model within Finanz Informatik regarding how they have been helping German local banks to proceed with digitalization. NFR management becomes increasingly important for digitalization transformation for banks. Unlike other industries, banking is always subject to strict regulations and high standard of data security. But that did not stop the dedication of Finanz Informatik. Like many other larger Fintech Vendors such as FIS, Finanz Informatik has successfully built their core banking platform OSP and is hosting the total IT Service for the German Sparkassen. 

 

Ms. Li walked through the topic on digital transformation in risk management. From a risk manager's perspective, she explained the key drivers and challenges in digital transformation for banks. In terms of the opportunities, she has positive views on the Process and Decision-making Automation by using machine learning and artificial intelligence. From her experience, such technologies as Robotic Process Automation could substantially enhance the efficiency in the industry.

 

Guest Speakers Ms. Yiqi Li (left) and Panel Discussion Speaker Mr. Raphael Kohler (right)

 

The Panel Discussion was moderated by Ms. Xiaoxiao Qian from FIS Global. As another highlight, Ms. Li and a special guest Mr. Raphael Kohler, Vice Chairman of German-China Association of Artificial Intelligence (GCAAI), talked about the new technologies and the future in risk IT and digitalization. There were also discussions about how the new technologies which are helping financial institutions in China like Ant Finance to develop AI model to monitor credit risk or using facial recognition to improve the security defense. Ethical discussion surrounded by data protection and its obstacle for future digitalization were brought to the table as well. 

 

With the progress of the fast-moving digitalization trend, let's see whether risk measures will still be the calculated matrix to meet regulatory requirements, or we are expecting new risk measures and risk management methodologies evolved from new technologies.

 

Panel Discussion Speaker Mr. Raphael Kohler (left) and moderator Ms. Xiaoxiao Qian (right)

 

Finally, we would like to thank the guest speakers, the moderators, all the attending participants and the VCAF team. Also special thanks to the Guang Hua Media for providing the venue. Looking forward to seeing you at our events in 2020!

Über uns

Wir sind ein in Frankfurt gegründeter gemeinnütziger Verein, der sich der Förderung des Austauschs und der Kontakte im Finanz- und Wirtschaftsbereich zwischen China und Deutschland widmet.

Verein Chinesischer Akademiker des Finanzwesens in Deutschland e.V.
Frankfurt am Main, Deutschland
info@vcaf.de

 

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