IRVINE, Calif.--(BUSINESS WIRE)--RGP Managing Consultant Candice Nonas will present at the inaugural Recovery and Resolution USA Conference, produced by the Center for Financial Professionals, March 20-21, 2018, at the Double Tree by Hilton Metropolitan in New York, NY. Nonas will discuss the challenges that banks face when trying to manage operational risk associated with recovery and resolution planning and how to deploy smart technology or artificial intelligence (AI) to foster a rapid and orderly wind down.
“Along with the other important regulatory requirements and initiatives, we know resolution planning and being resolution ready has become a major initiative for financial institutions,” said Nonas. “Regulators require banks to conduct business as usual through the prism of resolvability. This conference is particularly timely given the U.S. Senate’s debate on an overhaul of the Dodd-Frank Act, especially section 165(d).”
Nonas will serve as host of the conference, leading panel discussions and speaking on operational risk and resolution planning. Nonas is a veteran in the financial services industry who has spent her career in investment banking and bank regulation, including reviewing resolution plans while at the FDIC’s Office of Complex Financial Institutions. At RGP she helps financial institution clients meet their regulatory requirements through advisory and implementation services.
With RGP’s digital expert Andrew Jones, Nonas will also address how AI and robotic process automation (RPA) can make banks more resolvable. “What’s missing from the conversation is how regulators are going to audit or monitor the use of AI either through the supervisory process or enhanced prudential standards,” said Nonas. The use of AI and RPA in banks and financial institutions is on the rise as it relieves humans from doing rote and repetitive tasks. Nonas and Jones will demonstrate how AI is used to not only improve efficiency and increase the bank’s capacity to serve customers but how AI can mitigate operational risk during severe stress.
“Despite the progress that has been made in the past five years, outstanding operational risk issues remain,” said Nonas. “The banks and the regulators still have not found mitigants for all obstacles to a rapid and orderly resolution. For example, global cooperation among regulators needs to address cross-border resolvability issues inherent in international banking and resolvability laws and protocols.”
RGP, the operating subsidiary of Resources Connection, Inc. (NASDAQ: RECN), is a multinational business consulting firm that helps leaders execute internal initiatives. Partnering with business leaders, we drive internal change across all parts of a global enterprise - accounting; finance; governance, risk and compliance management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management; and legal and regulatory.
RGP was founded in 1996 within a Big Four accounting firm. Today, we are a publicly traded company with over 4,000 professionals, annually serving over 2,600 clients around the world from 74 practice offices.
Headquartered in Irvine, California, RGP has served 87 of the Fortune 100 companies. The Company is listed on the NASDAQ Global Select Market, the exchange's highest tier by listing standards. More information about RGP is available at http://www.rgp.com. (RECN-M)