Generative AI Jobs Transformation Map for Financial Sector

This document is a guide that outlines the transformation of jobs within the financial sector due to the integration of Generative AI (Gen AI). It details how Gen AI can automate compliance risk identification and assessment, refine compliance strategies, and assist in generating compliance policies. The guide emphasizes the importance of promoting compliance literacy and a culture of compliance awareness, alongside conducting training and knowledge-sharing activities. It provides a framework for identifying compliance risks and proposing mitigation strategies, while also detailing the development and dissemination of compliance policies and procedures. Additionally, the document discusses the critical tasks that can benefit from Gen AI, such as improving compliance controls, analyzing compliance risk assessments, and advising on regulatory reporting needs. The guide serves as a comprehensive resource for financial institutions in Singapore to navigate the evolving landscape of compliance and risk management influenced by Gen AI.