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How External Factors Shape Internal Strategies Through Strategic RiskManagement Picture this: Youre the captain of a ship in a vast, unpredictable ocean. External forceswhether economic, technological, or socialcan quickly turn smooth sailing into turbulent waters. Businesses that fail to adapt risk falling behind competitors.
However, for most organisations, it is still early days and much needs to be learned and discovered about AI for users and leaders to fully grasp the impact of the technology. In this context, CFOs must adopt a proactive stance, perceiving AI not only as a source of risk but also as a vital component in the riskmanagement toolkit.
Chief financial officers are in it for a balancing act on sustainability mandates, technologyinvestments, and economic and geopolitical shifts. Other key takeaways are the following: AI investments should be aligned with business objectives and demonstrate clear ROI.
At the FutureCFO Conference series, organised by Cxociety, finance leaders in Indonesia, Malaysia, Singapore, the Philippines and Thailand ranked automation and degitalisation (80%), investing in talent and employee development (58%) and continuous innovation (47%) as the top three strategies most important to sustainable growth in 2024.
In this environment, CFOs must prioritise cybersecurity investments that deliver a tangible return on investment. One of the main challenges in securing cybersecurity investments lies in the nature of cybersecurity itself. How can we maximise the return on these investments while achieving our security goals?"
As AI is piloted and adopted across all aspects of the personal and business banking landscape, Global Finance held a Digital Banking and AI Innovation panel in London with global financial industry leaders to explore the impact of new technologies and how to incorporate them in a way that creates a win-win for all stakeholders.
The future of technology emerged as the top risk of concern of today and tomorrow for organisations in the Asia-Pacific region, according to a recent survey by advisory, broking, and solutions company WTW. This finding came even considering the role of artificial intelligence (AI) and technology in driving change in the next 10 years.
The insurer has achieved a ninefold increase in policy issuance while reducing headcount by 20 per cent, through technologyinvestments. CFO Gopal Balachandran outlines the companys focus on health insurance expansion, regulatory compliance, IFRS 17 preparedness, and its approach to profitability and riskmanagement.
Now, finance leaders are expected to be able to identify and mitigate ESG-related risks, allocating resources towards sustainability initiatives and communicating the organisation’s ESG performance to stakeholders. Further, riskmanagement is another area where the CFO shines.
An advanced analytics tool such as this can help users gain deeper insights into market trends and make better-informed investment decisions. Investment in our technology and architecture remains our key priority as we endeavor to meet our clients complex needs through simple, elegant solutions. This includes the Kinexys by J.P.
As businesses navigate their way around various technological advancements, finance teams are faced with the task to integrate analytics and automation into their existing processes, determining at the same time which specific system to transform first for maximum operational impact.
Delving into the key trends shaping the treasury landscape in 2024, the focus is on themes such as staffing challenges, macroeconomic risks, technology adoption, and strategic financial management. Staffing challenges and technology adoption Staffing emerges as a central theme for corporate treasurers.
19) that it has inked a partnership deal with Feedzai, an artificial intelligence (AI) developer for real-time riskmanagement across banking and commerce. Citi Ventures made a strategic investment in Feedzai in 2016, and this partnership is the next phase in their relationship.
This article aims to provide practical, actionable insights into effective riskmanagement strategies that you can implement within your organization. Understanding RiskManagement in the CFO Role Riskmanagement is an integral part of the CFO’s stewardship role.
This issue hampers forecasting accuracy, riskmanagement, and resource allocation. Without accurate insights, businesses struggle with forecasting, riskmanagement, and resource allocation. Gain Approval - Present the plan to management with expected benefits. Continuously refine models with updated data.
Supplier riskmanagement is often a resource-intensive practice and rarely a target of technologicalinvestments. As a result, corporates will often let their vendor relationship management processes fall by the wayside. Unprecedented Risk. ” A Dramatic Shift. The New Normal. ”
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Finance leaders now are faced with the task of identifying and mitigating ESG-related risks, allocating resources towards sustainability initiatives and communicating the organisation's ESG performance to stakeholders. Access to sustainable finance also helps businesses offset upfront costs associated with green investments.
Providing support to an organisation's finance team is a must in intensifying the focus on riskmanagement. In the Association of Chartered Certified Accountants' Rethinking Public Financial Management report, 73.4% of respondents believed risks to their organisations would increase in the future.
This proactive approach not only aids in financial riskmanagement but also equips businesses with the foresight needed to navigate uncertainties confidently. A Comprehensive Approach to Risk Mitigation Risk mitigation for businesses involves a holistic approach that encompasses both financial and operational aspects.
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From great-power competition to technological shifts and a fractured trade order, todays volatility is reshaping global business. Jones : One of the features of this landscape is that geopolitical risk, but also geopolitical opportunity is to be found across almost all geographies at the moment.
Paula Leynes Felipe, Regional Manager, Upstream and Advisory, Eastern and Southern Africa, Financial Institutions Group, International Finance Corporation. She led the RiskManagement Practice Group in IFC Asia prior to her mangerial role in Africa. But were still sitting at the 3% levels. We need foreign savings.
Our investments in advanced digital banking solutions, automation, and cutting-edge analytics equip us to offer seamless, secure, and scalable financial services. Al Fulaij: In line with Kuwait Vision 2035, NBK identifies high growth potential in renewable energy, technology, digital transformation, health care, logistics, and contracting.
Developing specialised expertise expertise—whether in fundraising, M&A, technological transformation, or another key area—can set you apart as a leader.” This requires expertise beyond finance, including knowledge of the global economy, market trends, laws and regulations, business strategy, and emerging technologies.”
Private banking clients seek a dedicated, personalized, technology-driven service with access to broad investment opportunities. Indeed, the winners of the Best Private Banks awards for the Middle East provide first-class private banking products and services supported by advanced technology.
Whether it’s expansion into a new market, investment in digital infrastructure, or rationalising product lines, information is the common currency that enables sound judgement. Technology as an Enabler, Not the Destination Digital finance transformation remains a boardroom prioritybut its not about technology for its own sake.
Current industry research suggests that AI technologies are gaining traction among finance professionals navigating a complex landscape marked by rapid change. However, the adoption rate varies significantly across the region, influenced by technological maturity and cultural attitudes towards innovation.
Among other things, a fractured economy is characterized by increased trade barriers and tariffs, geopolitical tensions and shifts to specific trading blocks (like US vs China), changing investment patterns, and supply chain disruptions. Global corporate investment patterns will also be impacted.
Regulatory Demands : Banks must prioritise IT investments amidst growing regulatory requirements, particularly in anti-money laundering (AML) and cybersecurity. Technological Disruption : The emergence of new technologies, including generative AI, requires banks to adapt quickly.
That is why it is only customary that chief finance officers and finance leaders have mastered how to get around risks, handling the evolving landscape of fraud and payments to always be prepared amid emerging technologies and shifting regulatory demands. Today, this approach is bolstered by AI and machine learning.
In the exhilarating realm of technology startups, ambitious entrepreneurs and CEOs are on a relentless quest for rapid expansion. This foundational integration supports Scaling Business RiskManagement, allowing systems and processes to evolve seamlessly as the company grows.
The analyst further suggests that application leaders must understand the technologies and frameworks that underpin a composable approach to set the scene for AI-enabled wins. For example, AI automates riskmanagement and cash forecasting processes using machine learning to generate more accurate and timely predictions,” he elaborates.
Morgan US Private Bank, discusses navigating rising rates, global tensions, and technological transformation. The global economy is transitioning to an era marked by higher growth, increased capital investment, and elevated interest rates. Frame: Its prompting them to adopt more agile and diversified investment strategies.
They are now using technology as a lever to reduce costs and innovate. According to S&P Global Ratings, operational costs for European banks increased by over 4% annually from 2021 to 2023 , emphasizing the need for effective cost management strategies. Of course, it demands an initial investment.
AI in financial planning uses important technologies like: Machine Learning (ML) - AI learns from data and makes better predictions over time. These technologies allow AI to quickly analyze large amounts of financial data, spot patterns, and trends, and provide helpful insights.
The talent challenge is now becoming a table stake for all leaders, with 55% of respondents to the same PwC Pulse Survey acknowledging this as a serious business risk, 78% that plan to enhance their cyber riskmanagement, and 42% who want to see accountability for climate change governance being assigned to a person-in-charge.
The benefits for Google include a unified and accurate supplier record, the ability to integrate supplier qualification and segmentation with other procurement processes, and compliance for supplier riskmanagement throughout the supply base. accounts receivable and POS solution provider takepayments.
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The alternative investment industry is facing rapid transformation. Fund managers contend with increasing regulatory requirements, mounting investor expectations, and the complexities of managing multi-asset class portfolios. E78s model not only reduces costs but also delivers measurable value.
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Coffee Break Session: What Is Beta Investing? What is beta investing? This week, they focus in on beta investing. They cover what beta investing is and how the model is used by companies for investing. Listen in and learn a little bit about beta investing. The post 68: What Is Beta Investing?
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