March 6, 2025 • 27 mins
This episode focuses on women as change makers in risk management, shining a light on their role in designing and implementing cutting-edge programs that disrupt criminal networks. In this International Women’s Day special, we sit down with three trailblazing women who tell their story of breaking barriers, and are shaping the future of financial crime compliance, and risk management.
DISCLAIMER: The information provided in this podcast is for informational purposes only and is not intended to and shall not be used as legal advice. The views and opinions expressed in this podcast are solely those of the speakers and do not necessarily reflect the views or positions of LexisNexis Risk Solutions. LexisNexis Risk Solutions does not warrant that the information provided in this podcast is accurate or error-free.
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Episode Transcript
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Speaker 1 (00:12):
Hello and welcome everyone to another episode of
the RectTech Pulse podcastpowered by LexisNexis Risk
Solutions.
I'm your host, ankit Sharma,and today we are here to discuss
a very pertinent topic which isvery close to my heart and all
my panelists' heart.
We're talking about Shadows toShields Women Transforming Risk
Management and, mind you, thisis a Women's Day special.
(00:35):
The topic today focuses onwomen as changemaker in risk
management, shining a light ontheir role in designing and
implementing cutting-edgeprograms that disrupt criminal
networks.
We will be sitting down withthree extraordinary leaders who
will tell their stories aboutbreaking barriers and how
they're shaping their careerswithin the fraud prevention,
(00:55):
compliance and risk managementspace.
Today we have Julia Chin.
She's a compliance backbuildand the founder of J4 Solutions.
She brings about 25 plus yearsof experience within the AML
fraud and regulatory compliancespace, specializing in fintech
correspondent, banking andsecurity services.
As an APAC Global Coalition toFight Financial Crimes
(01:16):
Secretariat member, she'spassionate about fostering a
strong compliance culture andfinancial inclusion.
We also have Alina Bukur, who Ihave had the pleasure of
working very closely in the past.
She's a seasoned marketingleader and has extensive
experience in driving brandstrategy, demand generation and
market expansion, currently asthe Vice President of Marketing
at LexisNexis Risk Solutions.
(01:38):
She has been instrumental inshaping impactful campaigns,
fostering innovation anddelivering measurable business
growth.
And, last but not the least, wehave Alka Kavar.
She is the Vice President ofFinancial Crime Compliance and
Bank Data Operations atLexisNexis Solutions and she
currently leads the sanctionsand compliance bank data
operations teams globally.
(01:59):
We truly have a global paneltoday.
Julia is joining us fromSingapore, alina is joining us
from the UK and Alka is based inthe US.
Welcome everyone.
It's a great privilege andpleasure to have you on our
podcast today.
All right, julia, if we couldjust get this started with you.
I'm a big fan.
I follow you on social mediaplatforms.
You are literally the voice ofAPAC when it comes to financial
(02:22):
crime compliance and riskmanagement.
If I could just talk a bit moreabout your journey and your
legacy, what inspired you toenter the field of risk
management and financial crimecompliance and, basically, if
you could just highlight anddovetail into a few specific or
something that's remained withyou which kept you going through
this long and illustriousjourney of yours.
Speaker 2 (02:43):
First of all, thank you for having me and, honestly,
it wasn't a conscious decisionto go into compliance.
No one wakes up in the morningand say, hey, I want to do
compliance.
And well, how I started wasbecause I did a lot of traveling
around, especially indeveloping countries, and what I
(03:03):
saw that opened my eyes werehow much the developing
countries and what I saw thatopened my eyes were how much the
developing countries or thepeople in those areas rely on
banks, and also how I saw manyof these people were unable to
access the banking services dueto insufficient documentation
CDD While on the other hand,there are a lot of financial
(03:26):
crime that is happening due tothe failure in internal controls
.
So to me, my main purpose istry to connect the world between
financial inclusion and thefinancial system.
Speaker 1 (03:39):
And that makes a lot of sense, I mean, especially
from an Asian context.
Financial inclusion in emergingeconomies is the name of the
game, and you brought a veryinteresting life point, julia.
Right, life happens to youwhile you're planning, and that
was, I guess you know, the lifestory that you shared and kind
of correlates with me, becausegetting into an IT marketing
services was perhaps not thefirst choice.
(04:00):
But here we are after 17 yearsand it's been a great ride so
far, all right.
Alina, I've had the pleasure ofworking with you for some time.
You've spent many yearsadvocating for financial account
compliance and risk management.
I'm really curious, and I'msure it'll benefit our listeners
how did you carve your path inthis space and what's your
headline message to the industrytrying to fight financial
(04:21):
account compliance and fraud?
Speaker 3 (04:22):
Okay, so interesting question and really close to me.
My journey in financial crime,compliance and risk management
has been, personally, one ofpurpose and looking at building
up resilience and commitment tointegrity.
As a woman in the space, I'velearned very quickly that
(04:45):
courage and expertise and astrong voice can drive real
change.
The way that I carved my pathin Korea was it was all around
continuous learning,understanding what I know and I
don't know, and being consciousof that and continuing to build
up on it and challenging thatstate to explore and standing
(05:06):
firm in the face of anyadversity.
I was drawn to the professionin financial crime and fraud
prevention because it representsa chance to make a more of a
tangible impact in protectingindividuals not just businesses
and communities from harm, andwanted to take part in something
(05:26):
that was bigger than myself.
For me, it's important becausein an increasingly digital world
, financial crime is evolvingrapidly, threatening the
integrity of systems and thesecurity of people's livelihoods
, and I think that that's what'stouched me to the core of
people's livelihoods, and Ithink that that's what's touched
me to the core With LexisNexisResolutions and being part of a
(05:49):
bigger purpose and working inthis field.
I get to be part of a missionthat goes beyond numbers.
It's about safeguarding trust,preserving the fairness and
helping build a more resilientfinancial landscape.
What really inspired me most isthe challenge and
responsibility of staying onestep ahead of sophisticated
(06:12):
criminals.
That is what we drive for andit's a role that requires
critical thinking, the vigilance, the passion for truth which I
was mentioning earlier, thatidea and constant integrity, all
while using technology right tocombat the fraud.
Knowing that the efforts and myefforts can contribute to
(06:37):
preventing the harm and creatingsafe and more transparent
financial system is really whatmotivated me every day and keeps
motivating me every day.
It's an opportunity to not justwork in financial services but
to be part of something that isbigger, protecting the
foundation of trust in societyand as a from my profession
perspective I get, as amarketeer in financial crime and
(06:57):
prevention, with every messagewe craft, with every message we
deliver in the market, helpswith building awareness and
trust.
It's all about guiding peopleto take action and protect
themselves from these financialthreats.
I think the way that I've seenmy career and seen the work that
we do you kind of the bridgebetween innovative solutions and
(07:20):
the people who need them themost right.
So by effectively communicatingthe value of our mission.
We empower individual andbusinesses to defend what
matters most to them and that'sall about their financial
security.
And, in essence, as anorganization and me as a
professional, it's not aboutpromoting a solution or a
product.
We know protecting the everydaylives of countless individuals,
(07:43):
and that is what I hold dearlyand very close to me In terms of
headline message to theindustry, with trying to
highlight a bit what I wassaying earlier integrity is
non-negotiable right,collaboration is essential and
innovation is our greatestweapon.
And fighting financial crime isnot just a regulatory obligation
(08:05):
, it's a moral imperative thatdemands the leadership, that
relentless pursuit of truth andthat unshakable belief that we
can build more, a moretransparent and fair financial
system.
It is a responsibility in termsof everyday work to protect the
people, economies and the veryfabric of trust in systems.
And success in this fightrequires leadership and
(08:28):
innovation and collaborationacross all sectors and, probably
most importantly, that idea ofdiversity.
And we must embrace technologyand empower the diverse voices.
And that is an incredible assetwe can continue to build on and
remain relentless in thepursuit of that transparency and
accountability and the impactwe make today will essentially
(08:51):
shape the financial security ofour future generations.
Speaker 1 (08:55):
Really inspirational.
Thank you so much.
I mean collaboration is theneed of the hour as we all come
together to fight financialcrime, and driving change with a
purpose is the key takeaway forme from all that you've said.
All right, Alka.
Arguably, data is the mostvalued asset in the 21st century
.
Technology and data analyticsplay a critical role in risk
(09:16):
management.
If you could tell our listenersa bit more on how you deliver
cutting edge strategies tocombat financial crime
compliance.
Speaker 4 (09:25):
Yeah, I'm a bit of a data nerd, so this question
really excites me.
In today's rapidly evolvingfinancial ecosystem, data is
indeed our most valuable asset,similar to gold in the digital
age.
Raw data must be processed,analyzed, contextualized in
order to unlock its truepotential.
At my organization, lexisnexisRisk Solutions, we leverage
advanced technology and dataanalytics to combat financial
(09:47):
crime and fraud.
So by analyzing massive datasets and utilizing network-based
risk insight, we're able toidentify vulnerabilities and
create actual insight so we candisrupt those criminal networks
from getting access to funds.
One example of this is ourworld compliance data asset.
We review tens of thousands ofsources globally on a daily
basis, pull together theentities to serve up to our
(10:09):
customers in their screeningprocess in structured profiles,
to serve up to our customers intheir screening process in
structured profiles.
We then take that one stepfurther and we leverage advanced
analytics based on attributeswithin that profile to provide
what we call an EI score or anexposure index score, and that
then stack ranks the data basedon risk, allowing for deeper
insight for our customers asthey're going through that
screening process.
Speaker 1 (10:28):
This sounds fascinating and data, as you
said, is at the core of anyprocess that you put together or
technology that you adopt whenit comes to financial compliance
.
Can you share a real lifeexample, Elka, perhaps given
your exhaustive experience ofwhere you've encountered or
potentially prevented an actualrisk?
Speaker 4 (10:47):
Yeah, you know, I recall early in my career
probably my first year herereceiving an email from a
financial institution in eitherEMEA or APAC that an entity from
our database had actually comeinto their branch attempting to
open an account and, as a resultof our database and the tools
that we offer, the FI was ableto identify them as a known
criminal and called theauthorities.
(11:08):
The work we do makes a reallife impact.
Speaker 1 (11:11):
I couldn't agree more with you.
And that's the story, I think,the connecting thread with all
of us who are passionate withinthis segment and, specifically,
the opportunity that LexisNexiswith solutions and Relix offers
us.
Thank you for that.
That story sounded fascinating,I mean, and that's what keeps
us going every day on the trueimpact that we are making as
(11:31):
professionals.
Alina, if I could just come toyou the part of driving
awareness and the education thatyou are working towards around
financial crime and riskmanagement, wearing the
marketeer hat that you mentionedin the first leg of the podcast
, what role does storytellingand communication play in
empowering more women to jointhis fight?
Speaker 3 (11:54):
So I'm just going to pick up on what Alka was saying,
which is a very interestingexample, because we talk about
the example and these are reallife stories, and the question
is around how storytellinginfluence, or storytelling and
communication are two of themost powerful tools we have in
(12:15):
the fight against financialcrime and are powerful catalysts
for change.
Facts and regulations alonedon't necessarily drive
immediate actions, but realstories do, like the one that
Alka was mentioning earlier, andby sharing experiences,
challenges and successes, wehumanize the impact of financial
(12:38):
crime and empower more women tostep into this space with
confidence and provide theirleadership.
They allow us to humanizecomplex challenges.
So this is the storytelling andtransform that abstract risk
into real, relatable experiences, and I think that's what's
important, right.
So by sharing our journeys, thehurdles we've overcome, the
(13:00):
victories we've celebrated, wenot only shine a light on the
realities of financial crimerisk, but also inspire others to
step into the arena withconfidence.
Every narrative becomes abeacon, demonstrating that
innovation, resilience andleadership that knows no gender.
So when we speak our truth, wecreate the ripple effect that
(13:22):
motivates others to join thefight and ultimately
strengthening the industry andpaving the way for a more
inclusive and dynamic future.
If I'm looking at myself and myrole as a marketeer, I see
profound connection between thework that I do.
So my work and my passion forsafeguarding and enhancing
everyday life, especially whenit comes to combating financial
(13:45):
crime and fraud.
And, at its core, marketing isabout understanding people,
building trust and communicatingthe value is about
understanding people, buildingtrust and communicating the
value, and these same principlesare essential in the fight
against financial crime andhelping to create awareness.
You were mentioning about thisAnkit earlier.
It's all about fostertransparency and educate
consumers about the risks.
(14:07):
One of the key facets of therole and my role that aligns
with the commitment is theability to design programs or
messaging that inform andempower individuals, or the
stories that could potentiallyinform the individuals to make
safer and more informeddecisions, and highlighting
secure financial practices.
Promoting technologies we'vebeen talking about technologies
(14:30):
that protect against fraud orchampioning organizations that
prioritize security.
We're helping people safeguardtheir livelihoods and peace of
mind and, additionally,marketing plays a crucial role
in communicating the values ofintegrity and trust.
Whether it's promoting a brandthat stands for consumer
protection or creating contentthat demystifies complex
(14:53):
financial security measures,we're helping.
The story helps build a worldwhere people face and people
feel protected and can trust thesystem and the way they
interact with it.
And ultimately, the work we doas marketers allow us to be on
the front lines right.
So influencing how business andconsumers interact, ensuring the
(15:14):
safety, security and the trustremain at the heart of that
relationship, and that alignmentwith protecting people are
their financial well-being iswhat fuels my passion as a woman
in this field.
I've seen firsthand howstorytelling can break down
barriers and sparks thatcuriosity and really encourages
(15:37):
others to find their voice.
And when we communicateeffectively, whether through
mentorship, education oradvocacy we create the ripple
effect.
So that's very clear that thatbrings more diverse perspective
into the fight against financialcrime.
And my message really to womenconsidering this path is very
simple your voice matters, yourinsights matter, Step forward,
(15:58):
share your story and help shapethe future of financial crime
risk management.
And the more we communicate,the stronger and more resilient
our industry becomes.
Speaker 1 (16:09):
I couldn't agree more with you, Alina, over there,
Bringing diverse voices togetheris the need of the hour.
And if I could just turn a leafand share a bit more with our
listeners, In 2024, the genderdiversity of our senior leader
population increased to 32%,while our women people manager
increased from 45% in 2023 to46% At the year end.
(16:31):
Women comprise 40% of the board.
So, again, working with anorganization that is truly
fostering diversity andinclusion is a great privilege
and pleasure in the currenttimes.
All right, Alka, I'm reallyinterested in getting your
perspectives into this segment.
You know you yourself being aleader out there in this space
(16:51):
and domain.
Women in leadership often faceunique challenges.
How can organizations ensurethat women in risk management
and compliance get therecognition and opportunities
that they deserve?
Speaker 4 (17:03):
You're correct, ankit Women in leadership do often
face unique challenges,especially when you're in a
male-dominated industry.
However, I really do believethe culture and the times have
shifted significantly over theyears and I'm grateful that at
LNRS, we focus on ensuring womenget recognition and
opportunities they deserve,based on performance and
outcomes.
So I can speak from my ownpersonal experience.
(17:23):
I started at LNRS 11 years agoas a contractor project manager.
Over the years, I was fortunateenough to have opportunities to
grow, develop and prove myabilities, and today I'm proud
to be, you know, vice Presidentand Global Head of Financial
Crime, compliance and Bank DataContent Operations.
(17:47):
Now, as we look at women,balancing a leadership role with
motherhood especially formyself as a single mother of two
young boys really adds anadditional layer of complexity.
And while there are many singlefathers out there who are doing
a fantastic job, you know, bigshout out to them the reality is
, statistically, 70 to 80% ofsingle parent households are led
by women.
So, as women are advancing intothose leadership roles, while
balancing family responsibility,work-life harmony and
flexibility become crucial.
So it's about fostering anenvironment where everyone can
(18:08):
thrive, and for women, thatmeans offering equal
opportunities for careerdevelopment, leadership training
, mentorship and the flexibilityto be there for our families.
Now, on a personal level, theorganization has been incredibly
supportive in this regard.
As we look at the careerdevelopment aspects, our
employee resource groups, orERGs, have been pivotal in
driving a culture of inclusion,with a really strong focus on
(18:29):
accelerating women's developmentin senior leadership roles.
Now, both Alina and I have hadthe privilege of participating
in one of these programs.
If we look back to 2024, as anexample, our gender diversity at
LNRS of senior leaders hasincreased to 32% and our women
people managers actually rose to46%.
Now, these stats aredemonstrating a tangible
commitment to diversity by ourleadership and organization, not
(18:51):
just in words, but throughreal-life action.
Speaker 1 (18:54):
Absolutely, and I can attest to that.
And then you brought up ERGs,so I would like to kind of, for
the benefit of our listeners.
Within RelX, we have somethingcalled an Employee Resource
Group or an ERG, which basicallyencourages all our colleagues
to collaborate, advocate andengage communities further,
boosting inclusion and diversity.
In 2024, employees across RelXrecorded more than 22,400 ERG
(19:19):
hours and, as Alka said, it'sall about having the mandate of
driving more inclusion andhaving women across the board,
women across several layerswithin the organization, but 26%
of women within Relics aretechnologists, which are the
core at developing advancedsolutions which help our
(19:39):
customers keep ahead in the riskmanagement space.
So thank you for that, alka.
Julia, if I could come to you,you've been a revered leader
with 25 plus years of experiencewithin Asia Pacific.
Mentorship is quite important.
It's quite close to my heart aswell.
I've been blessed to have somegreat mentors throughout my
corporate journey so far, morein terms of outreach, support
(20:10):
and uplifting the nextgeneration, but also on the part
of a mentee because, as yousaid, you know, when you started
your career, I'm sure you alsolooked up to a few people and
may, you know, have got somehelp from them as well, or
direction from them well as amentor, I would say my desire is
to pay it forward.
Speaker 2 (20:24):
I have really benefited a lot from mentors
through my entire journey,whether or not it is in my
personal life or in myprofessional life.
So to me, I also believe in themovement we call social
mentoring.
There doesn't have to be aspecific mentor that you assign
(20:44):
yourself to.
There will be different timeswhen your mentee becomes your
mentor, so it's kind of likepeer mentoring and it's two ways
rather than one way.
So pay it forward.
It's something that is going tohelp with the entire network
all right, that's great to hear.
Speaker 1 (21:03):
Thank you for that.
Having worn multiple hats,julia, especially as educator
and now as a consultant in thefield of risk and financial
compliance, what are the keytrends that you are seeing in
your conversations withregulators, in your
conversations with theinstitutions at large, which you
think are shaping the futurewithin this landscape?
Speaker 2 (21:31):
landscape.
Well, there has been a lot oftalk about AI and technology,
and, in fact, the UN Conventionfor Cybercrime was recently
adopted by the General AssemblyChristmas Eve last year and so
we do see a lot happening inthat space.
I think something that isclosest to my heart is actually
the Recommendation 1 Amendment,which now has a priority on
(21:52):
financial inclusion.
The thing is, while we aretalking a lot about AI, what I
felt is most important when itcomes to risk-based approach and
balancing financial inclusionwith effective risk management
and to ensure that vulnerablepopulations are not excluded
from the financial system.
Let's go back to one thing, andour superpower as humans, which
(22:16):
is the 3C I would like to callout, is to be compassionate,
creative and curious.
Speaker 1 (22:24):
That's very well summed up, julian.
Thank you for that.
And again, within the realm ofAI and the evolving technology,
I mean there are several trendsthat we are also monitoring, how
we can make our systems moreattuned by leveraging newer
technologies and work towardsour clients in terms of being
more efficient and being moretransparent, that, with the
(22:44):
adoption of AI, gen, AI tools, Ithink it's very pertinent to
have more explainable models,which I think the regulators and
the enforcement agencies acrossthe world are relying more on.
From that perspective and youalso mentioned FATF and again
recently the report came out afew countries within Asia have
been taken off the FATF enhancedmonitoring list and some
(23:06):
countries have been put ontothat list, which again becomes a
little more difficult for thecountries when it comes to doing
ease of business.
But I'm sure you know, workingwith your company, you'll be
able to offer a bit moreconsultancy and perhaps chart a
route of how they can raise thebar of compliance.
Well, as they say, all goodthings must come to an end.
(23:26):
I have thoroughly enjoyed thisconversation.
As I told you at the start,this topic is very close to my
heart and the three guests thatI have on this podcast, you know
I look up to them and I followthem and do get to learn newer
things from them every day.
But, julia, if I could startwith you and if you could just
sum this up as a single piece ofadvice for women looking to
(23:48):
break into the career of riskmanagement or financial crime
compliance, what should they do?
Speaker 2 (23:53):
Well, I think, in order for us to break into this
field, one is to understand thatit doesn't have to be any
particular discipline ofeducation.
It is about us being able tobring our unique perspective,
about us being able to bring ourunique perspective.
The field needs diverse voicesand viewpoints to effectively
(24:14):
combat financial crime.
Our insights and experiencewill be valuable, and so we
should speak up and make ourvoices heard and be the voice to
the voiceless.
Speaker 4 (24:25):
Thanks for that, julia.
You know my advice for women inany field, including risk
management and financial crimeprevention, is to focus on your
expertise and your outcomes.
Don't let anything hold youback from showing that you're
the best at what you do.
Take ownership of your careerpath, seek mentorship and
continuously build your skills.
That goes back to somethingAlina had said earlier, and I
think it's really important tofind an organization that aligns
(24:47):
with your personal values andgoals, because that's going to
make your career journey evenmore fulfilling and successful.
Women are making waves in thisspace and there's a tremendous
opportunity to have an impact onthe future of fraud prevention
and compliance.
Speaker 3 (24:59):
Thanks, elka.
I guess I'll take the batonhere and provide a bit of my
view.
So my advice to women lookingto build a career in risk
management and financial crimecompliance is really simple Own
your expertise, embraceresilience and lead with purpose
.
And what has been thediscussion right from the
(25:19):
beginning of this session?
This is a field that demandscritical thinking, courage and
an unwavering commitment tointegrity.
You will face challenges, butremember your voice, your
perspective and yourdetermination are powerful
forces for change.
Building your knowledge,constantly seeking mentors,
(25:40):
become a mentor and never shyaway from tough conversations.
The fight against financialcrime needs strong, insightful
and fearless leaders.
Why not?
You?
Believe in your uniquestrengths and never
underestimate the value of yourperspective in a field that is
continually evolving.
Your insights, not just as awoman but as an expert, are
(26:02):
essential for breaking newground in risk management and
financial crime prevention, andembrace every challenge as an
opportunity to learn, lead andredefine the everyday right.
Stand tall, seek mentors, be amentor, build your network and
remember that your determinationnot only paves your way to
success, but lights the path forfuture generations of women in
(26:24):
these industries.
Keep pushing boundaries,because your contributions are
vital in shaping a safer andmore resilient industry.
Speaker 1 (26:32):
Well, it's been an absolute pleasure talking to you
.
I learned so many things andagain it has been an agenda.
I mean, I have the pleasure ofworking with an all-women team,
but again, we'll continue todrive diversity and inclusion,
and gender inclusion as well.
Thank you all.
Again, thank you so much forparticipating.
It was a pleasure to talk toyou.
Speaker 3 (26:50):
Thank you for having the opportunity of being here
and discussing this great topicAgain.
It's very close to me andcourage and determination to go
forward.
Thanks, ankit.
Speaker 1 (27:03):
Thank you all for joining us today.
It's been an absolute pleasuretalking to the three lovely
guests that we had on ourpodcast For our listeners.
If you want to learn more aboutTexas, nexus, risk Solutions or
RelX, please visit our website,and we keep on posting podcasts
on our platform and channel.
If you want to feature as aguest speaker, please reach out
to our team and we'll be happyto have a conversation.
(27:24):
Thank you and see you again.
Hello and welcome everyone to another episode of
the RectTech Pulse podcastpowered by LexisNexis Risk
Solutions.
I'm your host, ankit Sharma,and today we are here to discuss
a very pertinent topic which isvery close to my heart and all
my panelists' heart.
We're talking about Shadows toShields Women Transforming Risk
Management and, mind you, thisis a Women's Day special.
(00:35):
The topic today focuses onwomen as changemaker in risk
management, shining a light ontheir role in designing and
implementing cutting-edgeprograms that disrupt criminal
networks.
We will be sitting down withthree extraordinary leaders who
will tell their stories aboutbreaking barriers and how
they're shaping their careerswithin the fraud prevention,
(00:55):
compliance and risk managementspace.
Today we have Julia Chin.
She's a compliance backbuildand the founder of J4 Solutions.
She brings about 25 plus yearsof experience within the AML
fraud and regulatory compliancespace, specializing in fintech
correspondent, banking andsecurity services.
As an APAC Global Coalition toFight Financial Crimes
(01:16):
Secretariat member, she'spassionate about fostering a
strong compliance culture andfinancial inclusion.
We also have Alina Bukur, who Ihave had the pleasure of
working very closely in the past.
She's a seasoned marketingleader and has extensive
experience in driving brandstrategy, demand generation and
market expansion, currently asthe Vice President of Marketing
at LexisNexis Risk Solutions.
(01:38):
She has been instrumental inshaping impactful campaigns,
fostering innovation anddelivering measurable business
growth.
And, last but not the least, wehave Alka Kavar.
She is the Vice President ofFinancial Crime Compliance and
Bank Data Operations atLexisNexis Solutions and she
currently leads the sanctionsand compliance bank data
operations teams globally.
(01:59):
We truly have a global paneltoday.
Julia is joining us fromSingapore, alina is joining us
from the UK and Alka is based inthe US.
Welcome everyone.
It's a great privilege andpleasure to have you on our
podcast today.
All right, julia, if we couldjust get this started with you.
I'm a big fan.
I follow you on social mediaplatforms.
You are literally the voice ofAPAC when it comes to financial
(02:22):
crime compliance and riskmanagement.
If I could just talk a bit moreabout your journey and your
legacy, what inspired you toenter the field of risk
management and financial crimecompliance and, basically, if
you could just highlight anddovetail into a few specific or
something that's remained withyou which kept you going through
this long and illustriousjourney of yours.
Speaker 2 (02:43):
First of all, thank you for having me and, honestly,
it wasn't a conscious decisionto go into compliance.
No one wakes up in the morningand say, hey, I want to do
compliance.
And well, how I started wasbecause I did a lot of traveling
around, especially indeveloping countries, and what I
(03:03):
saw that opened my eyes werehow much the developing
countries and what I saw thatopened my eyes were how much the
developing countries or thepeople in those areas rely on
banks, and also how I saw manyof these people were unable to
access the banking services dueto insufficient documentation
CDD While on the other hand,there are a lot of financial
(03:26):
crime that is happening due tothe failure in internal controls
.
So to me, my main purpose istry to connect the world between
financial inclusion and thefinancial system.
Speaker 1 (03:39):
And that makes a lot of sense, I mean, especially
from an Asian context.
Financial inclusion in emergingeconomies is the name of the
game, and you brought a veryinteresting life point, julia.
Right, life happens to youwhile you're planning, and that
was, I guess you know, the lifestory that you shared and kind
of correlates with me, becausegetting into an IT marketing
services was perhaps not thefirst choice.
(04:00):
But here we are after 17 yearsand it's been a great ride so
far, all right.
Alina, I've had the pleasure ofworking with you for some time.
You've spent many yearsadvocating for financial account
compliance and risk management.
I'm really curious, and I'msure it'll benefit our listeners
how did you carve your path inthis space and what's your
headline message to the industrytrying to fight financial
(04:21):
account compliance and fraud?
Speaker 3 (04:22):
Okay, so interesting question and really close to me.
My journey in financial crime,compliance and risk management
has been, personally, one ofpurpose and looking at building
up resilience and commitment tointegrity.
As a woman in the space, I'velearned very quickly that
(04:45):
courage and expertise and astrong voice can drive real
change.
The way that I carved my pathin Korea was it was all around
continuous learning,understanding what I know and I
don't know, and being consciousof that and continuing to build
up on it and challenging thatstate to explore and standing
(05:06):
firm in the face of anyadversity.
I was drawn to the professionin financial crime and fraud
prevention because it representsa chance to make a more of a
tangible impact in protectingindividuals not just businesses
and communities from harm, andwanted to take part in something
(05:26):
that was bigger than myself.
For me, it's important becausein an increasingly digital world
, financial crime is evolvingrapidly, threatening the
integrity of systems and thesecurity of people's livelihoods
, and I think that that's what'stouched me to the core of
people's livelihoods, and Ithink that that's what's touched
me to the core With LexisNexisResolutions and being part of a
(05:49):
bigger purpose and working inthis field.
I get to be part of a missionthat goes beyond numbers.
It's about safeguarding trust,preserving the fairness and
helping build a more resilientfinancial landscape.
What really inspired me most isthe challenge and
responsibility of staying onestep ahead of sophisticated
(06:12):
criminals.
That is what we drive for andit's a role that requires
critical thinking, the vigilance, the passion for truth which I
was mentioning earlier, thatidea and constant integrity, all
while using technology right tocombat the fraud.
Knowing that the efforts and myefforts can contribute to
(06:37):
preventing the harm and creatingsafe and more transparent
financial system is really whatmotivated me every day and keeps
motivating me every day.
It's an opportunity to not justwork in financial services but
to be part of something that isbigger, protecting the
foundation of trust in societyand as a from my profession
perspective I get, as amarketeer in financial crime and
(06:57):
prevention, with every messagewe craft, with every message we
deliver in the market, helpswith building awareness and
trust.
It's all about guiding peopleto take action and protect
themselves from these financialthreats.
I think the way that I've seenmy career and seen the work that
we do you kind of the bridgebetween innovative solutions and
(07:20):
the people who need them themost right.
So by effectively communicatingthe value of our mission.
We empower individual andbusinesses to defend what
matters most to them and that'sall about their financial
security.
And, in essence, as anorganization and me as a
professional, it's not aboutpromoting a solution or a
product.
We know protecting the everydaylives of countless individuals,
(07:43):
and that is what I hold dearlyand very close to me In terms of
headline message to theindustry, with trying to
highlight a bit what I wassaying earlier integrity is
non-negotiable right,collaboration is essential and
innovation is our greatestweapon.
And fighting financial crime isnot just a regulatory obligation
(08:05):
, it's a moral imperative thatdemands the leadership, that
relentless pursuit of truth andthat unshakable belief that we
can build more, a moretransparent and fair financial
system.
It is a responsibility in termsof everyday work to protect the
people, economies and the veryfabric of trust in systems.
And success in this fightrequires leadership and
(08:28):
innovation and collaborationacross all sectors and, probably
most importantly, that idea ofdiversity.
And we must embrace technologyand empower the diverse voices.
And that is an incredible assetwe can continue to build on and
remain relentless in thepursuit of that transparency and
accountability and the impactwe make today will essentially
(08:51):
shape the financial security ofour future generations.
Speaker 1 (08:55):
Really inspirational.
Thank you so much.
I mean collaboration is theneed of the hour as we all come
together to fight financialcrime, and driving change with a
purpose is the key takeaway forme from all that you've said.
All right, Alka.
Arguably, data is the mostvalued asset in the 21st century
.
Technology and data analyticsplay a critical role in risk
(09:16):
management.
If you could tell our listenersa bit more on how you deliver
cutting edge strategies tocombat financial crime
compliance.
Speaker 4 (09:25):
Yeah, I'm a bit of a data nerd, so this question
really excites me.
In today's rapidly evolvingfinancial ecosystem, data is
indeed our most valuable asset,similar to gold in the digital
age.
Raw data must be processed,analyzed, contextualized in
order to unlock its truepotential.
At my organization, lexisnexisRisk Solutions, we leverage
advanced technology and dataanalytics to combat financial
(09:47):
crime and fraud.
So by analyzing massive datasets and utilizing network-based
risk insight, we're able toidentify vulnerabilities and
create actual insight so we candisrupt those criminal networks
from getting access to funds.
One example of this is ourworld compliance data asset.
We review tens of thousands ofsources globally on a daily
basis, pull together theentities to serve up to our
(10:09):
customers in their screeningprocess in structured profiles,
to serve up to our customers intheir screening process in
structured profiles.
We then take that one stepfurther and we leverage advanced
analytics based on attributeswithin that profile to provide
what we call an EI score or anexposure index score, and that
then stack ranks the data basedon risk, allowing for deeper
insight for our customers asthey're going through that
screening process.
Speaker 1 (10:28):
This sounds fascinating and data, as you
said, is at the core of anyprocess that you put together or
technology that you adopt whenit comes to financial compliance
.
Can you share a real lifeexample, Elka, perhaps given
your exhaustive experience ofwhere you've encountered or
potentially prevented an actualrisk?
Speaker 4 (10:47):
Yeah, you know, I recall early in my career
probably my first year herereceiving an email from a
financial institution in eitherEMEA or APAC that an entity from
our database had actually comeinto their branch attempting to
open an account and, as a resultof our database and the tools
that we offer, the FI was ableto identify them as a known
criminal and called theauthorities.
(11:08):
The work we do makes a reallife impact.
Speaker 1 (11:11):
I couldn't agree more with you.
And that's the story, I think,the connecting thread with all
of us who are passionate withinthis segment and, specifically,
the opportunity that LexisNexiswith solutions and Relix offers
us.
Thank you for that.
That story sounded fascinating,I mean, and that's what keeps
us going every day on the trueimpact that we are making as
(11:31):
professionals.
Alina, if I could just come toyou the part of driving
awareness and the education thatyou are working towards around
financial crime and riskmanagement, wearing the
marketeer hat that you mentionedin the first leg of the podcast
, what role does storytellingand communication play in
empowering more women to jointhis fight?
Speaker 3 (11:54):
So I'm just going to pick up on what Alka was saying,
which is a very interestingexample, because we talk about
the example and these are reallife stories, and the question
is around how storytellinginfluence, or storytelling and
communication are two of themost powerful tools we have in
(12:15):
the fight against financialcrime and are powerful catalysts
for change.
Facts and regulations alonedon't necessarily drive
immediate actions, but realstories do, like the one that
Alka was mentioning earlier, andby sharing experiences,
challenges and successes, wehumanize the impact of financial
(12:38):
crime and empower more women tostep into this space with
confidence and provide theirleadership.
They allow us to humanizecomplex challenges.
So this is the storytelling andtransform that abstract risk
into real, relatable experiences, and I think that's what's
important, right.
So by sharing our journeys, thehurdles we've overcome, the
(13:00):
victories we've celebrated, wenot only shine a light on the
realities of financial crimerisk, but also inspire others to
step into the arena withconfidence.
Every narrative becomes abeacon, demonstrating that
innovation, resilience andleadership that knows no gender.
So when we speak our truth, wecreate the ripple effect that
(13:22):
motivates others to join thefight and ultimately
strengthening the industry andpaving the way for a more
inclusive and dynamic future.
If I'm looking at myself and myrole as a marketeer, I see
profound connection between thework that I do.
So my work and my passion forsafeguarding and enhancing
everyday life, especially whenit comes to combating financial
(13:45):
crime and fraud.
And, at its core, marketing isabout understanding people,
building trust and communicatingthe value is about
understanding people, buildingtrust and communicating the
value, and these same principlesare essential in the fight
against financial crime andhelping to create awareness.
You were mentioning about thisAnkit earlier.
It's all about fostertransparency and educate
consumers about the risks.
(14:07):
One of the key facets of therole and my role that aligns
with the commitment is theability to design programs or
messaging that inform andempower individuals, or the
stories that could potentiallyinform the individuals to make
safer and more informeddecisions, and highlighting
secure financial practices.
Promoting technologies we'vebeen talking about technologies
(14:30):
that protect against fraud orchampioning organizations that
prioritize security.
We're helping people safeguardtheir livelihoods and peace of
mind and, additionally,marketing plays a crucial role
in communicating the values ofintegrity and trust.
Whether it's promoting a brandthat stands for consumer
protection or creating contentthat demystifies complex
(14:53):
financial security measures,we're helping.
The story helps build a worldwhere people face and people
feel protected and can trust thesystem and the way they
interact with it.
And ultimately, the work we doas marketers allow us to be on
the front lines right.
So influencing how business andconsumers interact, ensuring the
(15:14):
safety, security and the trustremain at the heart of that
relationship, and that alignmentwith protecting people are
their financial well-being iswhat fuels my passion as a woman
in this field.
I've seen firsthand howstorytelling can break down
barriers and sparks thatcuriosity and really encourages
(15:37):
others to find their voice.
And when we communicateeffectively, whether through
mentorship, education oradvocacy we create the ripple
effect.
So that's very clear that thatbrings more diverse perspective
into the fight against financialcrime.
And my message really to womenconsidering this path is very
simple your voice matters, yourinsights matter, Step forward,
(15:58):
share your story and help shapethe future of financial crime
risk management.
And the more we communicate,the stronger and more resilient
our industry becomes.
Speaker 1 (16:09):
I couldn't agree more with you, Alina, over there,
Bringing diverse voices togetheris the need of the hour.
And if I could just turn a leafand share a bit more with our
listeners, In 2024, the genderdiversity of our senior leader
population increased to 32%,while our women people manager
increased from 45% in 2023 to46% At the year end.
(16:31):
Women comprise 40% of the board.
So, again, working with anorganization that is truly
fostering diversity andinclusion is a great privilege
and pleasure in the currenttimes.
All right, Alka, I'm reallyinterested in getting your
perspectives into this segment.
You know you yourself being aleader out there in this space
(16:51):
and domain.
Women in leadership often faceunique challenges.
How can organizations ensurethat women in risk management
and compliance get therecognition and opportunities
that they deserve?
Speaker 4 (17:03):
You're correct, ankit Women in leadership do often
face unique challenges,especially when you're in a
male-dominated industry.
However, I really do believethe culture and the times have
shifted significantly over theyears and I'm grateful that at
LNRS, we focus on ensuring womenget recognition and
opportunities they deserve,based on performance and
outcomes.
So I can speak from my ownpersonal experience.
(17:23):
I started at LNRS 11 years agoas a contractor project manager.
Over the years, I was fortunateenough to have opportunities to
grow, develop and prove myabilities, and today I'm proud
to be, you know, vice Presidentand Global Head of Financial
Crime, compliance and Bank DataContent Operations.
(17:47):
Now, as we look at women,balancing a leadership role with
motherhood especially formyself as a single mother of two
young boys really adds anadditional layer of complexity.
And while there are many singlefathers out there who are doing
a fantastic job, you know, bigshout out to them the reality is
, statistically, 70 to 80% ofsingle parent households are led
by women.
So, as women are advancing intothose leadership roles, while
balancing family responsibility,work-life harmony and
flexibility become crucial.
So it's about fostering anenvironment where everyone can
(18:08):
thrive, and for women, thatmeans offering equal
opportunities for careerdevelopment, leadership training
, mentorship and the flexibilityto be there for our families.
Now, on a personal level, theorganization has been incredibly
supportive in this regard.
As we look at the careerdevelopment aspects, our
employee resource groups, orERGs, have been pivotal in
driving a culture of inclusion,with a really strong focus on
(18:29):
accelerating women's developmentin senior leadership roles.
Now, both Alina and I have hadthe privilege of participating
in one of these programs.
If we look back to 2024, as anexample, our gender diversity at
LNRS of senior leaders hasincreased to 32% and our women
people managers actually rose to46%.
Now, these stats aredemonstrating a tangible
commitment to diversity by ourleadership and organization, not
(18:51):
just in words, but throughreal-life action.
Speaker 1 (18:54):
Absolutely, and I can attest to that.
And then you brought up ERGs,so I would like to kind of, for
the benefit of our listeners.
Within RelX, we have somethingcalled an Employee Resource
Group or an ERG, which basicallyencourages all our colleagues
to collaborate, advocate andengage communities further,
boosting inclusion and diversity.
In 2024, employees across RelXrecorded more than 22,400 ERG
(19:19):
hours and, as Alka said, it'sall about having the mandate of
driving more inclusion andhaving women across the board,
women across several layerswithin the organization, but 26%
of women within Relics aretechnologists, which are the
core at developing advancedsolutions which help our
(19:39):
customers keep ahead in the riskmanagement space.
So thank you for that, alka.
Julia, if I could come to you,you've been a revered leader
with 25 plus years of experiencewithin Asia Pacific.
Mentorship is quite important.
It's quite close to my heart aswell.
I've been blessed to have somegreat mentors throughout my
corporate journey so far, morein terms of outreach, support
(20:10):
and uplifting the nextgeneration, but also on the part
of a mentee because, as yousaid, you know, when you started
your career, I'm sure you alsolooked up to a few people and
may, you know, have got somehelp from them as well, or
direction from them well as amentor, I would say my desire is
to pay it forward.
Speaker 2 (20:24):
I have really benefited a lot from mentors
through my entire journey,whether or not it is in my
personal life or in myprofessional life.
So to me, I also believe in themovement we call social
mentoring.
There doesn't have to be aspecific mentor that you assign
(20:44):
yourself to.
There will be different timeswhen your mentee becomes your
mentor, so it's kind of likepeer mentoring and it's two ways
rather than one way.
So pay it forward.
It's something that is going tohelp with the entire network
all right, that's great to hear.
Speaker 1 (21:03):
Thank you for that.
Having worn multiple hats,julia, especially as educator
and now as a consultant in thefield of risk and financial
compliance, what are the keytrends that you are seeing in
your conversations withregulators, in your
conversations with theinstitutions at large, which you
think are shaping the futurewithin this landscape?
Speaker 2 (21:31):
landscape.
Well, there has been a lot oftalk about AI and technology,
and, in fact, the UN Conventionfor Cybercrime was recently
adopted by the General AssemblyChristmas Eve last year and so
we do see a lot happening inthat space.
I think something that isclosest to my heart is actually
the Recommendation 1 Amendment,which now has a priority on
(21:52):
financial inclusion.
The thing is, while we aretalking a lot about AI, what I
felt is most important when itcomes to risk-based approach and
balancing financial inclusionwith effective risk management
and to ensure that vulnerablepopulations are not excluded
from the financial system.
Let's go back to one thing, andour superpower as humans, which
(22:16):
is the 3C I would like to callout, is to be compassionate,
creative and curious.
Speaker 1 (22:24):
That's very well summed up, julian.
Thank you for that.
And again, within the realm ofAI and the evolving technology,
I mean there are several trendsthat we are also monitoring, how
we can make our systems moreattuned by leveraging newer
technologies and work towardsour clients in terms of being
more efficient and being moretransparent, that, with the
(22:44):
adoption of AI, gen, AI tools, Ithink it's very pertinent to
have more explainable models,which I think the regulators and
the enforcement agencies acrossthe world are relying more on.
From that perspective and youalso mentioned FATF and again
recently the report came out afew countries within Asia have
been taken off the FATF enhancedmonitoring list and some
(23:06):
countries have been put ontothat list, which again becomes a
little more difficult for thecountries when it comes to doing
ease of business.
But I'm sure you know, workingwith your company, you'll be
able to offer a bit moreconsultancy and perhaps chart a
route of how they can raise thebar of compliance.
Well, as they say, all goodthings must come to an end.
(23:26):
I have thoroughly enjoyed thisconversation.
As I told you at the start,this topic is very close to my
heart and the three guests thatI have on this podcast, you know
I look up to them and I followthem and do get to learn newer
things from them every day.
But, julia, if I could startwith you and if you could just
sum this up as a single piece ofadvice for women looking to
(23:48):
break into the career of riskmanagement or financial crime
compliance, what should they do?
Speaker 2 (23:53):
Well, I think, in order for us to break into this
field, one is to understand thatit doesn't have to be any
particular discipline ofeducation.
It is about us being able tobring our unique perspective,
about us being able to bring ourunique perspective.
The field needs diverse voicesand viewpoints to effectively
(24:14):
combat financial crime.
Our insights and experiencewill be valuable, and so we
should speak up and make ourvoices heard and be the voice to
the voiceless.
Speaker 4 (24:25):
Thanks for that, julia.
You know my advice for women inany field, including risk
management and financial crimeprevention, is to focus on your
expertise and your outcomes.
Don't let anything hold youback from showing that you're
the best at what you do.
Take ownership of your careerpath, seek mentorship and
continuously build your skills.
That goes back to somethingAlina had said earlier, and I
think it's really important tofind an organization that aligns
(24:47):
with your personal values andgoals, because that's going to
make your career journey evenmore fulfilling and successful.
Women are making waves in thisspace and there's a tremendous
opportunity to have an impact onthe future of fraud prevention
and compliance.
Speaker 3 (24:59):
Thanks, elka.
I guess I'll take the batonhere and provide a bit of my
view.
So my advice to women lookingto build a career in risk
management and financial crimecompliance is really simple Own
your expertise, embraceresilience and lead with purpose
.
And what has been thediscussion right from the
(25:19):
beginning of this session?
This is a field that demandscritical thinking, courage and
an unwavering commitment tointegrity.
You will face challenges, butremember your voice, your
perspective and yourdetermination are powerful
forces for change.
Building your knowledge,constantly seeking mentors,
(25:40):
become a mentor and never shyaway from tough conversations.
The fight against financialcrime needs strong, insightful
and fearless leaders.
Why not?
You?
Believe in your uniquestrengths and never
underestimate the value of yourperspective in a field that is
continually evolving.
Your insights, not just as awoman but as an expert, are
(26:02):
essential for breaking newground in risk management and
financial crime prevention, andembrace every challenge as an
opportunity to learn, lead andredefine the everyday right.
Stand tall, seek mentors, be amentor, build your network and
remember that your determinationnot only paves your way to
success, but lights the path forfuture generations of women in
(26:24):
these industries.
Keep pushing boundaries,because your contributions are
vital in shaping a safer andmore resilient industry.
Speaker 1 (26:32):
Well, it's been an absolute pleasure talking to you
.
I learned so many things andagain it has been an agenda.
I mean, I have the pleasure ofworking with an all-women team,
but again, we'll continue todrive diversity and inclusion,
and gender inclusion as well.
Thank you all.
Again, thank you so much forparticipating.
It was a pleasure to talk toyou.
Speaker 3 (26:50):
Thank you for having the opportunity of being here
and discussing this great topicAgain.
It's very close to me andcourage and determination to go
forward.
Thanks, ankit.
Speaker 1 (27:03):
Thank you all for joining us today.
It's been an absolute pleasuretalking to the three lovely
guests that we had on ourpodcast For our listeners.
If you want to learn more aboutTexas, nexus, risk Solutions or
RelX, please visit our website,and we keep on posting podcasts
on our platform and channel.
If you want to feature as aguest speaker, please reach out
to our team and we'll be happyto have a conversation.
(27:24):
Thank you and see you again.
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