Skip to main content
The Regulator Said What? Q&A with BankersLab

With regulation a central topic at next week's FICO World, FICO interviewed BankersLab CEO Michelle Katics, who will co-present, "The Regulator Said What? And You Said What Back?"  In this session, Katics will lead an interactive discussion of the more unusual, occasionally vague and not always successful attempts at regulatory change, and the compliance focus this requires from banking executives.  Below, Katics answers our questions about this session.

What is the main idea behind your session? Regulatory risk is rising to the top of the list of concerns for risk managers.  In the international arena, we’ve seen some success along with some misguided actions.  We can draw some helpful lessons and best practices from what we’ve seen in different geographic markets.  For example, in some markets, sensible Interbank Debt Relief programs have been a success.  However, in other markets, although well intentioned, policy flaws have led to poor results.  Unfortunately, our ‘best practices’ list is often the result of living through some ‘worst practices.’  The important thing is to draw lessons from both experiences.

What are the challenges banks face in this area today? Unfortunately, when economic or credit crises hit, it’s usually too late for policy makers to take effective action.   In our current volatile environment, policy actions either support consumer credit resolution or exacerbate a crisis.

Is there a “game-changer” approach that banks are taking? Proactive engagement with policy makers and positive collaboration among industry players is a must.  Rigorous research and articulation of best practices policies will support positive outcomes.

What will attendees take away from your session? We’ll share some war stories from around the globe from the regulatory front.  Attendees may take away some tears or laughter... but more importantly, we’ll draw upon those stories for some practical ideas about positive and proactive regulatory engagement.

*** We invite you to join this interactive regulatory discussion at FICO World, which runs November 1-4 in New York.

related posts