How Truist Balances Innovation & Compliance

Babette Reynolds discusses the bank's approach to compliance risk management, vetting fintech partnerships, and increased use of automation and data analytics.

Good morning, Bank Slaters!

I am sending this from AOBA in Phoenix. I knew this was a big event — but I don’t think any first-time attendee can prepare for its size and scale. I will have a ton of thoughts and perspectives to bring back to the East Coast.

I was recently quoted in an American Banker article remembering retired SunTrust CEO Jimmy Williams, who passed away this week. Williams had an interesting legacy at the Truist predecessor, including his close ties to Coca-Cola (where he was on board for years), uniting various banks under the SunTrust brand, and pioneering online banking and in-store branches in the mid-1990s.

Williams will also be remembered for his deep ties to Atlanta and for preferring slow and steady organic growth at a time when peers Hugh McColl at NationsBank and Ed Crutchfield at First Union aggressively pursued M&A. One could argue that the approach, which largely continued with his successors, put SunTrust on the trajectory to eventually merge with BB&T, creating Truist.

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Let’s talk about how big banks balance innovation with compliance and risk management.

I caught up with Babette Reynolds, head of Truist’s enterprise compliance program office. Her resume features key posts at many big banks, including Bank of America and Citi, with experience in risk strategy, compliance and third-party management.

I’ve been eager to get her thoughts on balancing innovation and risk management. She didn’t disappoint, sharing perspectives that I think can apply to banks of all sizes.

Since I will be busy with AOBA, the full audio of this conversation will not be available until Thursday.