Artificial Intelligence for Compliance and Risk Professionals
Overview
While the growing capabilities of artificial intelligence (AI) offer potential benefits for Compliance and Risk functions, the use of AI within firms also poses a series of risks, and the regulatory framework is still evolving to keep pace.
This highly interactive workshop explores the key AI risks, the core principles for responsible use of AI within firms and the current regulatory response. It also outlines potential opportunities for the second line functions to leverage its capabilities.
Who is this for?
This course is suitable for Heads of Compliance, MLROs, Compliance Officers, Risk Officers and Internal Audit staff.
Learning Outcomes
After attending this course participants will be able to:
- Explain the meanings of key terms relating to AI
- Describe the threat from criminal use of AI
- Explain the principal risks relating to the use of AI within their firm
- Explain the key elements of responsible use of AI
- Describe how regulators internationally are responding to the growing use of AI
- Apply a risk-based approach to AI
Course Details
Introduction
- The potential of AI: positive and negative
- Definitions
- Generative and agentic AI
- Copilots and agents
AI in Practice
- Embedded AI
- Criminal use of AI
- Deepfakes
- Challenges for CDD, including FATF research
- How is the firm using AI?
- Principal risks
- Transparency and ‘shadow’ use of AI
- Errors and over-reliance
- Data protection and confidentiality
AI and Regulation
- The evolving regulatory framework for AI
- EU AI Act
- GDPR
- FCA approach (including the Mills Review)
The Role of the Second Line Functions
- Advising
- Monitoring
- Regulatory expectations
- Using AI tools
Governance of AI
- The challenge of accountability
Delivery
Firms with more than 5 staff to train have the flexibility to deliver training in-person by one of our trainers at your premises, or virtually via Zoom, Teams or Webex.
Find out more about your Virtual or In-Person training experience below.
Virtual Delivery
Our virtual training courses are designed to be every bit as engaging as our in-person courses. To achieve this, our trainers use market-leading technology and a range of training techniques to ensure high levels of interaction with participants. Courses include the use of:
- Virtual ‘break-out’ rooms: participants are divided into virtual rooms to facilitate small group discussion.
- Polling: multiple-choice questions, answered anonymously, allow the trainer to assess knowledge and understanding across the group.
- Case studies: true to life case studies and scenarios are used to highlight the practical application of theoretical knowledge.
- Messaging: participants can submit questions and comments, either to the whole group or privately to the trainer.
Additional Benefits:
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Recording: public course participants have the option to access a recording of the course for one month after the course. In-House clients also have the option to record their training for an additional fee.
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On-going Q&A: public course participants can access an ongoing Q&A facility allowing them to ask questions relating to the course.
In-Person Delivery
Our in-person training is delivered face to face at your offices, and includes:
- ‘In-the-moment’ questions & discussions: questions through conversations allow the trainer to assess knowledge and understanding across the group.
- Case studies: true to life case studies and scenarios are used to explore practical application of theoretical knowledge.
- Q&A: participants can ask questions during training, either to the whole group or privately to the trainer.