In the old-fashioned world of traditional finance, it was beneficial for risk and compliance teams to provide as much information as possible in a risk assessment. In today’s Fintech environment, the core role of risk and compliance teams has changed, and the old ways of doing risk assessments are no longer a recipe for success! Tune in today to hear my advice on how you should be approaching risk assessments as a Fintech founder and don’t forget to join my Risk Assessment workshop where I walk you through the methodology of creating the risk assessment and give you all the templates needed.

If you found value in this episode, I would really appreciate it if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies! If you are on Apple, just click here to review, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is. 

Today’s episode:

• [02:07] Various issues associated with the old ways of doing risk assessments.  
• [03:52] Information that companies gather from your risk assessment.
• [04:30] How companies determine whether a risk assessment is “good” or “bad.” 
• [05:33] Factors that make a risk assessment difficult to understand. 
• [07:29] The core role of risk and compliance teams in the old-fashioned world of traditional finance, and how this impacted their approach to risk assessments. 
• [09:13] How the role of risk and compliance teams has changed with the evolution of the Fintech space.  
• [11:05] My advice preparing and presenting risk assessments that are likely to have a successful outcome. 
• [12:05] Why you should think about risk assessments as a tool of influence. 
• [12:29] Value in simplifying risk assessments. 
• [13:34] How to structure a risk assessment. 
• [14:23] Details about the workshop I am holding on August 23rd. 

Show links:

• FinTech Product and Business-Wide Risk Assessment Workshop
• Interested in FinTech compliance? – Consider investing in the FinTech Compliance Self-Starter Package!
• Want more insights about FinTech and Compliance delivered directly to your inbox? Let’s stay in touch! Click here.