01/09/2026
Last night, about 100 professionals including regulators joined us for the launch of AI Risk Management in the Financial Services Sector — a new practical guidance resource developed jointly by the Actuaries Institute and UTS Human Technology Institute.
👉 Available now at https://ap1.hubs.ly/H01l20p0
The paper responds to a critical gap facing financial services: while organisations are rapidly adopting AI, governance and risk management frameworks are not always keeping pace.
As co-lead author Victor Bajanov put it, “Organisations that choose to do nothing in this space will be exposed to new risks they are not equipped to deal with.”
For boards and executives, the stake is immediate: AI presents a genuine opportunity to transform financial services — but only if the risks it introduces are actively managed.
For actuaries, there is an equally important opportunity: to help shape how AI is used, governed and embedded across financial services.
The message from last night was clear: actuaries are well placed to be part of that change.
Thank you to our panellists for contributing to such an important discussion 👏
🔹 Therese McCarthy Hockey | Deputy Chair, APRA
🔹 Victor Bajanov | Independent AI Consultant
🔹 Adam Bennett | Chief Information Officer, Suncorp
🔹 Annette King | Non-Executive Director, TAL, HCF, AFG and U Ethical Investors
🔹 Prof Nick Davis | Co-Director, UTS Human Technology Institute
🔹 Elayne Grace | Chief Executive Officer, Actuaries Institute
We want to thank Chris Dolman FIAA, Clare Brennan, Jack Goldsmith, Jonathan Shen FIAA, Llewellyn Spink, Michael Storozhev FIAA, Veve Fry for their assistance in producing this framework, and many other reviewers involved in the process.
We extend our thanks to industry experts for their assistance in the early-stage workshop, including Andrew Beevors, Chris Scheuber, Jade Haar, Jared Spowart, Minh Phan, Nagender Chetti, Nick Barnett, Phoebe Twiggs and Tony Dang.