In this episode of Banking on the Cloud podcast, we explore how in the new data economy, where data is the central focus, legacy approaches to financial regulation can struggle to keep pace. Guests Monica Sasso, Red Hat and Professor Ruth Wanhoffer of Cass School of Business sit down with host Anne Leslie, IBM Cloud and Controls Lead-Europe.
The current regulatory landscape primarily focuses on financial institutions and their product offerings, while the data economy demands a more encompassing approach. Positive steps are being made, such as the European Union introducing the Digital Operational Resilience Act (DORA) in January 2021, which aims to establish a common baseline around foundational principles related to active risk management, incident reporting, operational resilience, and third-party oversight. However, some critics argue that DORA fails to address the data economy and its unique challenges adequately, which is likely to generate a need for further iterations to ensure effective regulation in this rapidly changing field.
#FinancialServices, #OperationalResilience, #riskmanagement
Description: In this episode, we explore how in the new data economy, where data
is the central focus, legacy approaches to financial regulation can struggle to keep
pace. Guests Monica Sasso, Red Hat and Professor Ruth Wanhoffer of Cass School of
Business sit down with host Anne Leslie, IBM Cloud and Controls Lead-Europe.
The current regulatory landscape primarily focuses on financial institutions and their
product offerings, while the data economy demands a more encompassing
approach. Positive steps are being made, such as the European Union introducing
the Digital Operational Resilience Act (DORA) in January 2021, which aims to
establish a common baseline around foundational principles related to active risk
management, incident reporting, operational resilience, and third-party oversight.
However, some critics argue that DORA fails to address the data economy and its
unique challenges adequately, which is likely to generate a need for further
iterations to ensure effective regulation in this rapidly changing field.
Tags: financialservices, operationalresilience, riskmanagement,
Description: In this episode, we explore how in the new data economy, where data
is the central focus, legacy approaches to financial regulation can struggle to keep
pace. Guests Monica Sasso, Red Hat and Professor Ruth Wanhoffer of Cass School of
Business sit down with host Anne Leslie, IBM Cloud and Controls Lead-Europe.
The current regulatory landscape primarily focuses on financial institutions and their
product offerings, while the data economy demands a more encompassing
approach. Positive steps are being made, such as the European Union introducing
the Digital Operational Resilience Act (DORA) in January 2021, which aims to
establish a common baseline around foundational principles related to active risk
management, incident reporting, operational resilience, and third-party oversight.
However, some critics argue that DORA fails to address the data economy and its
unique challenges adequately, which is likely to generate a need for further
iterations to ensure effective regulation in this rapidly changing field.
Tags: financialservices, operationalresilience, riskmanagement,
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