The Banking Executive Magazine - November 2024

WUAB Forum Through a meticulously crafted pro- gram, the forum addressed the criti- cal challenges faced by financial institutions, such as adapting to tech- nological advancements, meeting evolving regulatory requirements, and responding to societal demands for greater accountability. Partici- pants gained a deeper understanding of how to integrate innovative prac- tices into their operations, ensuring their institutions remain competitive and compliant in a complex global landscape. The collaborative efforts of WUAB, FEB, PwC, and other partners en- sured that the forum maintained the highest standards of excellence. By bringing together leading voices in the industry, the event provided a unique platform for attendees to gain fresh perspectives and develop ac- tionable strategies to address their in- stitutions’ most pressing challenges. INSIGHTS INTO THE FUTURE OF BANKING A recurring theme throughout the forum was the transformative poten- tial of emerging technologies. Speak- ers emphasized the need for financial institutions to embrace in- novation to remain competitive. From harnessing the power of artifi- cial intelligence to implementing Blockchain solutions, the discussions underscored the importance of stay- ing ahead of technological trends. The forum also highlighted the grow- ing significance of ESG and sustain- ability in the banking sector. As stakeholders increasingly prioritize environmental and social responsi- bility, internal audit functions must evolve to ensure comprehensive ESG oversight. This focus on sustainability reflects a broader shift in the industry towards creating long-term value for all stakeholders. BUILDING RESILIENCE THROUGH COLLABORATION One of the forum’s key takeaways was the importance of collaboration among internal auditors, compliance officers, risk managers, and other stakeholders. By fostering a culture of openness and cooperation, financial institutions can better navigate the complexities of today’s regulatory and risk environments. The forum’s emphasis on combined assurance models and stakeholder engagement provided attendees with actionable strategies for achieving this goal. CONCLUSION: A RESOUNDING SUCCESS The WUAB Annual Internal Audit Forum was a resounding success, reaffirming its position as a corner- stone event for professionals in the banking sector. By addressing the critical issues facing financial institu- tions and providing a platform for knowledge exchange, the forum played a pivotal role in shaping the future of internal audit, compliance, and risk management. For attendees, the event was more than just a learning opportunity—it was an inspiring call to action. Equipped with fresh insights and practical tools, participants left the the BANKING EXECUTIVE 52 ISSUE 190 NOVEMBER 2024 Moderator: Mr. Amr El Geziery – Suez Canal Bank CAE Panelists: Mr. Mohamed Samir – ADCB CAE, Mr. Amr El Daly – Alex Bank CAE Mr. Mohamed Rashad – NBK CAE