099 - Why Old Ways of Doing Risk Assessment Fail

<p><span style="font-weight: 400;">In the old-fashioned world of traditional finance, it was beneficial for risk and compliance teams to provide as much information as possible in a risk assessment. In today’s Fintech environment, the core role of risk and compliance teams has changed, and the old ways of doing risk assessments are no longer a recipe for success! Tune in today to hear my advice on how you should be approaching risk assessments as a Fintech founder and don’t forget to</span> <a href= "https://yana-afanasieva.mykajabi.com/offers/KNK6q9TJ"><span style= "font-weight: 400;">join my Risk Assessment</span></a> <span style= "font-weight: 400;">workshop where i walk you through the methodology of creating the risk assessment and give you all the templates needed.</span></p> <p><span style="font-weight: 400;">If you found value in this episode, I would really appreciate if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies!</span> <span style= "font-weight: 400;">If you are on Apple, just </span><a href= "https://podcasts.apple.com/ch/podcast/compliance-that-makes-sense/id1535160531"><strong>click here to review</strong></a><span style="font-weight: 400;">, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is. </span></p> <p> </p> <p><strong>Today's episode:</strong></p> <p><span style="font-weight: 400;">[02:07] Various issues associated with the old ways of doing risk assessments.  </span></p> <p><span style="font-weight: 400;">[03:52] Information that companies gather from your risk assessment.</span></p> <p><span style="font-weight: 400;">[04:30] How companies determine whether a risk assessment is “good” or “bad.” </span></p> <p><span style="font-weight: 400;">[05:33] Factors that make a risk assessment difficult to understand. </span></p> <p><span style="font-weight: 400;">[07:29] The core role of risk and co