Entries by Dilip

Preventing complaints from escalation

Often complaints are escalated to the ombudsman because a firm does not have a clear process for the customer to complain and manage.   Here are some of the ways complaint barriers can be reduced: Regular monitoring of customer satisfaction, such as through quick satisfaction surveys allow the customer to give feedback Keeping channels of […]

Metrics for Machine Learning model evaluation

How you choose metrics determines how machine learning algorithms are measured and compared. This also brings to fore the importance of different characteristics in the results and your ultimate choice of which algorithm to choose. Evaluation is the first and the most important step in choosing any machine learning algorithm.  One model may pass muster […]

How is a compliance risk assessment different from other risk assessments?

Organizations conduct assessments to identify different types of organizational risk. For example, they may conduct enterprise risk assessments to identify the strategic, operational, financial, and compliance risks to which the organization is exposed. In most cases, the enterprise risk assessment process is focused on the identification of “bet the company” risks – those that could […]

Steps in Developing a Conduct Risk Framework

Many financial services firms are now working to embed conduct risk management practices within their wider risk management frameworks, with a view to taking a consistent approach across their business units. Here are some of the key steps in developing a Conduct risk framework. Effective management of conduct risk is seen as a key component […]