Odene James is a Chartered Banker and seasoned risk management leader with over 20 years of experience in the financial services industry. She has championed transformative initiatives, including AI-driven fraud detection, predictive risk modeling, and robust third-party risk frameworks.
James fosters a culture of collaboration, integrating governance, compliance, and innovation to protect and create value for stakeholders. Her leadership in navigating crises—notably during the COVID-19 pandemic—demonstrates her commitment to agility and continuous improvement. At the heart of her approach is a passion for responsible risk practices that support the mission of delivering secure, future-ready financial services.
Guiding Organizations through Risk for Over 20 Years
I’ve spent more than two decades in risk management, with a career that spans regulatory and operational roles. I began with a quasi-government agency and later worked with a regulatory body overseeing pensions, insurance, and securities. Eventually, I transitioned to the credit union industry, where I gained valuable insights into managing risk in member-focused financial institutions.
Over the years, I’ve led key functions such as enterprise risk management, compliance, financial crimes, third-party risk, and business continuity planning. This diverse experience has shaped my holistic approach to risk, balancing protection with opportunity.
My current role focuses on developing strategies that safeguard assets, support regulatory compliance, and enhance member trust. This dynamic role challenges me to anticipate evolving risks and deliver solutions that strengthen organizational resilience and future readiness.
Embracing AI to Strengthen Risk Management
I’m genuinely excited about the potential that AI and machine learning bring to risk management. These technologies are reshaping how we approach risk—especially in fraud detection, cybersecurity, and predictive analytics.
We’ve integrated machine learning-based platforms that have significantly improved our ability to identify and prevent real-time fraudulent transactions. These systems also support our BSA and anti-money laundering programs, reducing false positives and boosting our team’s efficiency.
Beyond fraud detection, we leverage AI-driven predictive analytics to assess cybersecurity threats in ways that simply weren’t possible before. It’s helping us stay ahead of potential risks and enhance the protection of our members and assets
Beyond fraud detection, we leverage AI-driven predictive analytics to assess cybersecurity threats in ways that were previously impossible. This helps us stay ahead of potential risks and enhance the protection of our members and assets.
At an organizational level, we’ve launched an AI Center of Excellence to ensure all our AI initiatives are ethical, transparent, and aligned with best practices. This center plays a key role in refining our AI governance strategies, keeping us compliant, and maintaining the trust of our stakeholders. It’s a significant priority for our leadership team as we continue to embrace digital innovation for the benefit of our members.
To support this, we’ve also established a cross-functional steering committee that brings together marketing, retail, lending, finance, risk, digital, and IT teams. This dedicated unit ensures that our AI and ML initiatives are coordinated and deliver real value across the organization.
We’re seeing tremendous benefits—from enhancing cybersecurity and credit risk assessment to elevating our fraud prevention capabilities. AI is playing a pivotal role in shaping the future of our operations.
Strengthening Third-Party Risk Management with a Proactive Approach
Managing third-party risk has become a top priority. We recognize that these risks are external to our organization and often outside our direct control, which makes having a solid framework even more critical.
We’ve established a rigorous due diligence process for all our vendors and partners to address this. This includes thoroughly assessing their risk profiles, reviewing contracts, and conducting regular audits. We also require vendors to comply with our strict information security standards and provide proof of adherence to relevant regulations.
Our third-party risk management framework identifies and manages external risks early. We place particular emphasis on vendors we classify as critical or significant. We’ve implemented regular business reviews and additional control layers for these relationships to protect our operations, members, and reputation.
By taking this proactive, structured approach, we can build strong, secure partnerships while keeping potential risks in check.
Practical Advice for Strengthening Risk Management Strategies
I often advise my peers that to strengthen their risk management strategies, they need a proactive and integrated approach. Risk management shouldn’t sit in a silo—it needs to be woven into every part of the organization.
For me, it starts with building a risk-aware culture. That means empowering employees at every level to identify and report potential risks. Pair that with a solid framework that includes thorough risk assessment, consistent monitoring, and clear mitigation plans, and you’re setting the proper foundation.
And we can’t ignore the role of technology. Leveraging AI and machine learning has been a game changer. These tools help enhance risk detection, improve prevention, and allow us to act faster and wiser.
Collaboration is also key. Risk management works best when compliance teams, business units, and leadership are aligned. I always remind stakeholders that it’s not just about setting up a great framework; it’s about continuously monitoring, reviewing, and adapting your strategies to stay aligned with your organization’s goals.
The industry is constantly evolving. You must stay agile and be ready to pivot as new risks emerge. And one of the best pieces of advice I can offer? Don’t reinvent the wheel—network with your peers. Learn from the systems and frameworks they’ve implemented successfully. While risk management is always tailored to your unique business model, shared experiences and insights can spark great ideas to take back to your organization.
Lessons in Resilience: Navigating the COVID-19 Crisis
Like many risk management professionals, I view the COVID-19 pandemic as pivotal in my career. While our business continuity plans accounted for a pandemic, this was an actual test of how well our documentation translated into practical action.
The crisis demanded swift, coordinated responses across HR, executive leadership, board members, and external stakeholders. In one of my previous roles, I led the development of new policies to support telecommuting while addressing emerging risks around privacy and cybersecurity. This experience was a defining test of resilience—not just for the organization but also for me as a risk leader.
It reinforced the need for risk professionals to continuously monitor top risks and proactively implement programs and controls to stay prepared. Major events will happen, but how we respond determines our ability to protect our organizations and maintain stability.
