Singapore Consultancy Pte. Ltd.

FinTech Webinar: More Than 200 Participants Interested in Risk Management

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FinTech Webinar: More Than 200 Participants Interested in Risk Management
FinTech Webinar: More Than 200 Participants Interested in Risk Management

Our risk management experts Deepak Sekhri, Pheng Siong Ng and Eliza Leong put together our first educational virtual format giving FinTech companies a first overview of ongoing and emerging trends and topics around risk management.

More than 200 participants dialled in when consultants of Singapore Consultancy Pte. Ltd. presented on the importance of establishing an early risk management discipline. 

Deepak Sekhri, Principal Consultant, Singapore Consultancy, provided an overview of risk management. He reiterated the importance of a good risk management discipline and offered an approach that may guide a company embarking on the journey. He emphasized that risk management is everyone’s responsibility in a company and there is a need to instill awareness of this topic.

Deepak also used examples, experiences and observations to describe risks in IT Operations and Software Development. He offered suggestions on measures that could have been taken to prevent such risks from materializing, He ended the session by discussing potential risks with the use of emerging technologies like artificial intelligence, machine learning and deep learning and articulated the importance of auditability and traceability of decisions made by such technologies.
On cyber security, Ng Pheng Siong, Principal Consultant, Singapore Consultancy, walked through a number of well-publicized cyber security incidents covering a gamut of bad outcomes - data compromise, service disruption, direct monetary losses, and so on - that arose from intruders' using different attack vectors such as phishing, exploiting security vulnerabilities, or simply taking advantage of insecure software configuration. While going through what is known about the incidents, Pheng Siong invited the audience to think through 'joining the dots' between the reported facts and the eventual outcomes, such as how compromise of a software source code repository could lead to the exfiltration of customer data.
Summarizing key observations of the incidents, Pheng Siong spoke on how to manage the risks. "Be prepared. Take care of the basics. On new technology, be mindful of unknown unknowns," Pheng Siong concluded.
Steven Seow, founder and executive director: "We are here to help and the overwhelming success of this format encourages us to continue our engagement with FinTech companies. We are one of the leading firms in advising FinTech companies and our experts can tailor solutions around risk management".