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What Responsible Innovation Means for Your Organization
September 12, 2022
On this episode of our Risk & Accounting Advisory podcast, we are discussing “responsible innovation” — new and expanded or modified products and services — as part of the Risk in Review series.
This series is meant to provide informative content in a 5-queston format. Our guest, Mike Dempsey, Senior Manager, in the Risk & Accounting Advisory group unpacks what responsible innovation means for your organization. Regulators are focusing on responsible innovation and wanting to ensure adequate feasibility, due diligence and approvals before introducing a new or expanded activity.
We also cover the latest Office of Comptroller and Currency bulletin on the guiding principles, as well as regulatory considerations, benefits for businesses and finally, outlining how companies can effectively and sustainably develop a risk assessment framework, which includes responsible innovation criteria.
If you would like to learn more about the impact of new and modified or expanded products and services on your company’s risk profile and key messages and tips, please reach out to our speakers or visit cbh.com/risk.