Nonas will discuss the Progress and Remaining Obstacles to
IRVINE, Calif.–(BUSINESS WIRE)–$RECN–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
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.
Russ McGuire, Solution Marketing Manager