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Ben O'Brien

Managing Director

Jaywing

Member since

11 Nov 2015

Location

London

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Ben's opinions

AI vs. traditional risk modelling: A closer look at accuracy and efficiency

The gap between AI and traditional risk modelling is substantial. Traditional models often fall short when dealing with complex, non-linear relationships. In contrast, AI models thrive in detecting these patterns, providing more precise risk predictions. Risk managers are now at a crossroads: stick with the tried-and-true traditional methods or emb...

03 September 2024 /ai

Balancing AI innovation and model risk: Insights from SS1/23

Recently, the UK Government called upon key regulators—including the ICO, FCA, and Bank of England (which incorporates the PRA)—to outline their strategic approach to Artificial Intelligence (AI). In response, the Bank of England highlighted various existing regulations that demonstrate its capacity to supervise AI. Notably, SS1/23 featured prom...

28 August 2024 /ai /regulation

FCA PS24/3: Understanding the new requirements and how to prepare

The Financial Conduct Authority (FCA) has introduced policy statement PS24/3, implementing mandatory Product Sales Data (PSD) reporting for consumer credit firms. This significant change will reshape how affected companies collect, manage, and report data. Our blog post breaks down the key aspects of these new requirements and offers guidance to ...

27 August 2024 /regulation

IRB wholesale exposures: Unpacking the PRA's latest regulatory guidance

The Prudential Regulation Authority (PRA) recently held an IRB wholesale roundtable, introducing new guidelines for firms using or considering the Internal Ratings Based (IRB) approach for wholesale exposures. In this post, we’re delving into the 6 key takeaways: #1. Model risk differentiation: Aligning to the PRA’s expectations To start, the PRA'...

23 August 2024 /regulation