Last week, I had the privilege of attending the American Bankers Association (ABA) Risk and Compliance Conference in Seattle, WA — my first as the Head of Sales for GRC at Resolver. Held from June 10-13, this must-attend event brought together leaders, experts, and innovators in the financial sector to explore the latest trends and challenges in risk management and compliance. Here are my top five takeaways from the 2024 ABA Risk and Compliance Conference:
1. The power of AI in compliance
The sessions on AI and machine learning were especially interesting, showing how these technologies can solve real-world compliance problems. There was lots of excitement about how Resolver’s GRC solutions, especially our newest AI-driven advancements, reflect these industry trends.
AI in compliance is a game-changer, making compliance tasks much more efficient and accurate. From automating repetitive tasks and simplifying regulatory change management obligations, AI-enhanced compliance innovations align with Resolver’s mission to help businesses move faster. Summarizing regulatory requirements for example, can save massive time and effort, so compliance professionals can focus on delivering strategic insights.
2. The MVP: A strong compliance culture
Another important takeaway was the need to build a strong compliance culture within organizations. A solid compliance culture is the cornerstone of enterprise resilience. At Resolver, we see how a compliance-first approach positively affects integrity, strategy, and overall resilience. Building a compliance culture requires commitment from everyone in the organization.
Companies that do this effectively promote compliance as a core part of their operations. In a time when a brand can suffer from reputational harm, sustainable compliance practices are key to long-term success. Many speakers at the conference highlighted the need for leaders to support this culture, creating an environment where compliance and ethical behavior are top priorities.
3. Value of learning from a risk and compliance community
The workshops at the ABA Risk and Compliance Conference 2024 offered practical, hands-on experiences with new technologies. These sessions provided useful insights into how these innovations can be used in daily risk management and compliance work. Attendees interacted with new tools and software, learning how to use them to simplify their compliance processes.
4. Connecting with financial industry leaders
Networking was a major highlight of the conference. I connected with Chief Risk Officers (CROs), Chief Compliance Officers, Compliance Directors, Enterprise Risk Managers, and Governance Leaders from several major financial institutions. These interactions provided valuable insights into shared challenges and sparked potential collaborations.
One memorable conversation was with a CRO from a major bank who shared their journey with Resolver. Before using Resolver, this CRO had trouble streamlining their company’s compliance processes. After implementing Resolver’s solutions, their compliance operations improved significantly in a short time. This success story reinforced the value of our solutions and opened up new opportunities for future partnerships. (Read more of our incredible customer success stories here.)
5. Showcasing Resolver’s Risk and Compliance Solutions
At Resolver, we provide tools that help financial institutions manage risk and compliance with precision, agility, and confidence. At the conference, we showcased our latest risk and regulatory compliance management solutions, which attracted significant interest from attendees.
Our advanced reporting capabilities and user-friendly interface were particularly well-received. Attendees appreciated how our tools simplify compliance management, making it easier for organizations to get through complex regulatory obligations and changes with greater ease and efficiency. (Read our TEI Study to see the incredibly efficiencies in compliance testing and executive reporting!)
Innovation Showcase Presentation
I also had the privilege of presenting Resolver’s integrated risk and compliance solution to conference attendees. Our GRC software simplifies regulatory change and empowers organizations with a holistic approach to risk identification, mitigation, and compliance reporting.
My presentation also highlighted our Risk Intelligence Platform, a highly configurable no-code solution, as well as our automated workflows, and integrations with AI-powered regulatory libraries. These innovations help organizations stay ahead of regulatory changes and manage risks more effectively. A special shout-out to my team for their support. It was exciting to jump on stage in front of thousands of bankers and give them a glimpse into what we do.
Looking ahead to the future of risk and compliance
Overall, the 2024 ABA Risk and Compliance Conference was a fantastic experience that left me energized and inspired. I am excited to bring back the insights and ideas gained from the event to further enhance our GRC software solutions at Resolver. I look forward to continuing the conversations started at the conference and exploring new opportunities for collaboration.
If you’d like to learn more about Resolver’s work or discuss any of the topics from the conference, feel free to reach out via LinkedIn. Let’s keep the conversation going and work together to shape the future of risk management and compliance.
