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OCC’s security chief on generative AI with guardrails

Clearinghouse looks to scale technology across risk and data operations—but safety is still the watchword.

Chicago and data

The financial industry’s scramble to adopt generative AI has sometimes resembled a modern-day goldrush of companies beating a trail to the tech haven of California’s Silicon Valley in search of a competitive edge in this latest form of artificial intelligence.

Leading the effort in many companies is the chief technology officer. At the Options Clearing Corporation, the remit for GenAI development falls instead to Matt Rathbun, chief security officer-elect at the derivatives clearing giant.

The

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AI won’t stay in its risk category

For the first time, JP Morgan filed a form 10-K listing AI as a standalone risk factor—a sign of how banks are rethinking previously defined risk categories and their overall risk profile.

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