RegTech and SupTech: New Opportunities in Reporting, Regulation and Supervision
RegTech and SupTech Seminar
RegTech and SupTech: New Opportunities in Reporting, Regulation and Supervision
Chair: Kimmo Soramäki, CEO, Financial Network Analytics
November 26 - Disruptive Innovation: The State of the Art
- Implications and opportunities of the evolving regulatory and supervisory landscape
- The state of the start of national and international regulatory and supervisory regimes
- Key political and economic forces shaping the work of regulators and supervisors
- Unavoidable risks, critical challenges and emerging opportunities
- Discussion: how to supervise technological innovation?
- RegTech and SupTech: technological foundations in 2019
- Evolution of financial, regulatory and supervisory technology
- The impact of RegTech and SupTech on the financial services industry
- Overview of key technologies in the areas of DLT, Big Data analytics, Machine Learning and Cloud Computing
- Examples of applications in regulatory reporting and compliance risk management
- Machine readability in regulation and supervision: where are we? and where are we going?
- The state of the art of machine-readable regulation
- Opportunities and challenges for risk-based supervision, data quality assessment, and closing of the gap between regulatory intention and interpretation
- The emerging role of cognitive compliance
- Discussion: does machine-executed regulation represent a realistic and desirable goal?
- Workshop: visualising systemic risk
- Methods and practices for combining available technologies and digital platforms for visualising different types of systemic risk
- Tips to effectively analyse complex financial data and filter signal from noise
- Management of key operational and ethical risks and challenges
- Hands-on exercise: mapping of cross-holdings between financial institutions and identification of early warning indicators
November 27 - Adding Value: Combining Good Global Practice with Local Learnings
- Using Big Data for nowcasting macro-economic indicators
- Overview of emerging trends in regulatory Big Data
- Opportunities and challenges of Big Data applications for financial stability and systemic risk analysis
- Examples of good practice in combining Big Data from the internet, administrative and commercial sources
- Case study: use of Big data in autoregressive now-casting models
- Making the most of Machine Learning, DLT and Cloud in risk-based reporting
- Key features of effective risk-based supervision frameworks and strategies
- The impact of APIs (Application Programming Interface) and software platforms on regulatory value chain
- The role of Machine Learning, DLT and Cloud in market surveillance and risk prediction
- Tips for effective management of sensitive issues in the areas of security standards and confidentiality
- SupTech for effective supervision of systematically important financial institutions
- Overview of the D-SIB (domestically systemically important) and G-SIB (global systemically important) frameworks
- Examples of RegTech and SupTech applications for D-SIB and G-SIB identification and continuous oversight
- Implications for cooperation between the regulator and the regulated
- Tips to overcome issues of cross-jurisdiction communication and coordination
- Workshop: RegTech and SupTech for AML and anti-fraud
- Key financial crime risks of the digital era
- Examples of Blockchain and Machine Learning applications in KYC and KYCC
- The role of international and public-private cooperation and coordination
- Hands-on exercise: automated vs. manual Fraud and AML investigation
November 28 - Towards Sustainability: Governance and Growth
- Sandboxes, incubators and accelerators: coordinating innovation with regulatory compliance
- Strategies helping innovation comply with legal and regulatory requirements
- Issues of funding and resourcing
- Potential for cross-jurisdictional cooperation
- Case study: Monetary Authority of Singapore’s regulatory sandbox – success stories and steps to be avoided
- RegTech and SupTech governance: operational arrangements and institutional organisation
- Overview of areas where central banks and regulators need technical agility
- Examples of strategies, frameworks and indicators to assess suitability and needs of technological toolkit
- Tips for selection and coordination of in-house solutions with the outsourced ones
- Case study: setting-up an interdepartmental FinTech/RegTech working group
- RegTech for FinTech: how to regulate and supervise privately issued crypto assets?
- Overview of key risks (and opportunities) of privately issued-crypto assets
- Tips for effectively managing financial stability implications of ‘Bitcoins’ on both local and systemic levels
- Examples of cross-jurisdictional regulatory and supervisory cooperation and coordination
- Discussion: central bank issued digital currencies as an alternative to Bitcoin
- Delegate action points and course conclusion
- Summary of the training course
- Discussion of the observed trends and case studies
- Application of learning points in the delegates’ home organisations
- Preparation of action points