Insights

Artificial Intelligence (AI) needs no introduction, having managed to rapidly creep into all aspects of life. While in business, AI is creating a plethora of new potential opportunities and efficiencies, it is also presenting new challenges, including in the area of cybersecurity. So how exactly has AI impacted cybersecurity and what are the key risks that can be identified in its present form?

It was broadly agreed that the implementation of the IAF will provide clarity of responsibilities, which will underpin sound governance across the financial sector, enhancing the culture of accountability in firms, and bringing clarity to individuals in respect of the standards of conduct they are expected to meet.

Throughout the past number of years, Ireland has become an increasingly attractive market for international players seeking to acquire new businesses. The strength of the Irish economy combined with historically relatively inexpensive debt has enabled shareholders of domestic businesses to capitalise on opportunities for growth.

At Grant Thornton we have a wealth of insurance finance and accounting expertise ready to assist you in all aspects of your finance function requirements from interim resourcing to specialist finance topics to finance transformations.

When designing a fit-for-purpose governance model, trust and transparency are the keys to success. Strong governance practices must permeate the culture of the organisation, and employees at all levels should play a role in a executing a lived governance model that helps the company thrive.

The Individual Accountability Framework (IAF) impacts all Regulated Financial Services Providers (RFSPs) and individuals who perform controlled functions (CFs) on their behalf. Certain RFSPs (including most credit institutions, insurance firms and MiFID firms) are additionally in scope for the Senior Executive Accountability Regime (SEAR).

Businesses often find it difficult to embrace iterative ways of working without losing the broader vision during the process of making incremental changes. Agile project management can help.

This ECB paper is relevant to banks with derivatives and trading books; it explores the operational aspects and hidden costs associated with the wind-down of a bank’s trading book. An orderly wind-down of a trading book may be a recovery option or an element of a bank’s preferred resolution strategy. This paper details principles of ECB’s supervisory expectations with respect to both recovery and resolution planning.

Transforming organisations by optimising processes, implementing innovative strategies and fostering continuous improvement culture, leading to increased competitiveness and sustainable growth.

Our focus in this paper is to develop decision making models using a range of advanced machine learning techniques. We explore three different methodologies to measure the discriminatory power between good and bad borrowers using a credit card portfolio dataset. The main hypothesis is that advanced modelling techniques lead to more efficient estimates and higher discriminatory power.

As a result of Brexit, and particularly following the introduction of the UK’s Financial Services and Markets Act, there is a potential for increasing divergence between EU and UK financial services regulation.

On 30 January, the Central Bank published Guidance for (Re)insurance Undertakings on Intragroup Transactions and Exposures following a consultation that ended in September 2022.