Why Old Ways of Doing Risk Assessment Fail
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.
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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
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