Think Tank - 2:10 pm - 2:35 pm
David can discuss the unique challenges, risks and opportunities involved with effectively guiding a SIFMU through a digital transformation, including:
- What differentiates a digital transformation at a SIFMU/SIFI from other types of financial institutions;
- OCC's own experience with digital transformation, which is currently geared at revamping the organization's 20-year-old Encore clearing platform and replacing it with a more modular, agile system while maintaining the integrity of the U.S. exchange-listed options market;
- The unique challenges involved with applying new technologies such as cloud computing and IoT to systemically important financial organizations;
- The framework SIFMUs/SIFIs can follow to implement new technologies successfully; and
- Considerations for the broader financial market when exploring their own digital transformations, and the technology vendors who support their efforts.
David Hoag, Group CIO, The OCC