Tracey McDermott, former FCA boss and Standard Chartered’s compliance chief, on UK regulators’ diversity and inclusion push and how AI is changing the role of compliance

Today’s guest discusses UK regulators’ recent proposals to foster diversity and inclusion in the City, including the aspects of the measures she would like to see given more consideration and the role finance bosses must play to ensure the initiative’s success. 

She details how AI tools are being used to adapt the role of the compliance officers she manages and the skillset she believes will be required for future compliance officers to succeed.

She also shares her insight on how best to navigate guidance from the Financial Conduct Authority.

And she should know. As Tracey McDermott spent 15 years at the City watchdog including 10 months as its acting CEO before joining global banking group Standard Chartered in 2017 as its group head of corporate, public and regulatory affairs. In 2018, she took on responsibility for the bank’s compliance function and since 2019 she has worked as Standard Chartered’s group head of conduct, financial crime and compliance. She also plays an influential role in several industry reform initiatives which she details in the upcoming episode.