Can we keep up with the machines? Stronger and faster artificial intelligence systems require robust risk management practices

Author's Biography

Edward O'Keefe is the co-head of Moore & Van Allen's Financial Regulatory Advice and Response group. Before joining the firm, Ed served as the Global General Counsel of Bank of America Corporation. Having also headed or served as a senior executive with Bank of America's compliance, technology, human resources and operations functions, Ed's broad experience includes all aspects of investigations, litigation, regulatory compliance, governance, cybersecurity, compensation and risk management. His regulatory compliance practice includes working with clients with respect to the Bank Secrecy Act/Anti-Money Laundering (AML) law, anti-bribery/anti-corruption, resolution planning, stress testing and responding to regulatory inquiries. Prior to Bank of America, Ed served as Deputy General Counsel for Deutsche Bank AG and is nationally ranked in Financial Services Regulation (Compliance) by Chambers and Partners. Managing significant and complex bank issues, Ed's experience ranges from supervisory issues to consent orders. He also understands bank operations, including emerging technologies such as artificial intelligence, on which subjects he has presented at international and national industry conferences. As the chair of the Clearing House Association, the industry association of the largest banks, Ed supported and approved the creation of the Real Time Payments system.

Jules Carter focuses on helping institutional clients navigate complex regulatory environments and pursue business strategies that balance innovation with risk awareness. Her financial regulatory experience includes representing financial institution clients in response to regulatory enforcement actions and addressing the supervisory concerns of state and federal banking authorities. Her experience is not limited to remediation efforts, as she also assists bank clients deploying targeted marketing algorithms by reviewing model parameters and highlighting regulatory or reputational risks that could emerge. Jules advises on various legal issues for a range of financial services providers, including globally systemic, regional and community banks, as well as fintech companies, money services businesses and brokerage firms.

Sarah Byrne leads the firm's Human Trafficking Pro Bono Project, representing survivors of human trafficking, and assisting organisations with human trafficking prevention and compliance programmes. Sarah's years of experience in representing survivors of sex and labour trafficking led to client demand for institutional training and advice on developing anti-trafficking and survivor support programmes, and compliance with related human rights law and regulation. At the national level, Sarah is a frequent conference speaker and advocate for legislative change in support of trafficking victims. She is a founding member of the National Survivor Law Collective, a national network of trauma-informed lawyers providing legal aid to survivors. Representing MVA as a participating member, Sarah works with the United Nation's Finance Against Slavery and Trafficking (FAST) Initiative to increase survivor access to financial services and guide banks on the Survivor Inclusion Initiative. Sarah, along with MVA's multidisciplinary team, brings a unique human rights focus to companies navigating the emerging legal, regulatory and reputational pressures related to environmental, social and governance (ESG) criteria, offering workforce training, and advice on corporate policy drafting, anti money-laundering processes, supply chains, KYC diligence and corporate disclosures.

Barbara Meeks combines nearly 20 years of experience as a leader in-house at Wells Fargo with her extensive knowledge of financial institutions and public companies to advise on a broad range of regulatory, compliance, governance, risk management, investigative and transactional matters. Her practice addresses complex legal challenges, including responding to enterprise-critical regulatory mandates and directives. Barbara provides practical and collaborative legal advice to a range of globally systemic, regional and community banks, as well as fintech, treasury management, payments, insurance and brokerage companies. She has expertise regarding comprehensive capital analysis and review (CCAR), living will requirements, interest rate transition, Bank Secrecy Act, financial reporting and broker–dealer and insurance licensing matters. Barbara previously held numerous leadership positions at Wachovia Corporation and Wells Fargo & Company, where, in her last position she led the Global Commercial Banking Section, providing regulatory and legal support to the company's broad platform of banking, insurance and brokerage activities, both domestically and internationally.

John Stoker‡ advises clients on a broad array of prudential banking laws and regulations applicable to their financial products, services and operations and to their strategic transactions and investments. Prior to joining the firm, John served as Associate General Counsel of the Corporate Regulatory Section in Wells Fargo's legal department. He leverages his 15 years of in-house legal experience to assist clients in navigating complex regulatory requirements to meet their business and enterprise strategic objectives.

Randal Shields served as Deputy General Counsel for the consumer bank at PNC Financial. Randal managed the legal team that supported all of PNC's consumer banking and loan products, channels and regulatory matters. He provided direct support to the bank's fair lending operations and was the principal counsel to PNC's Chief Customer Officer. In addition, he coordinated consumer bank legal activity for examinations by various regulators, including the Office of the Comptroller of Currency and the Consumer Financial Protection Bureau. He previously served as General Counsel for Fleet Mortgage, and as an Associate General Counsel at Bank of America, where he managed legal teams that supported various loan products and related servicing operations.