Carine Casteu: AI can improve many things, but this also involves new risks

The Chief Risk Officer at the private bank Piguet Galland, Carine Casteu, thrives on being constantly challenged with new themes.

This testimonial appeared in the Women in Finance series on HZ Banking, a publication of Handelszeitung, on the 11 March 2024.

At the private bank Piguet Galland it may well be that Carine Casteu is the person who has to say "no" the most frequently. "This is quite possible, although I try to say "yes, but..." instead of just plain "no” with the aim of finding a constructive solution,' explains Carine Casteu, Chief Risk Officer. She has occupied this role for eight years and is therefore the second woman among the five members of the management board at the private bank which has its head-office in Yverdon.

It is for this role that Carine Casteu left Paris (where she used to live), packed her bags without hesitation , and, along with her husband and three children, aged six, four, and one, relocated to the peaceful area of Lake Geneva. 'It was a real challenge, both professionally and personally,' the 48-year-old reflects. Embracing change, which she admits to enjoy, she wholeheartedly embarked on this new adventure, stepping into the role of Chief Risk Officer at a small private bank deeply-rooted in tradition.

“Moving here was the right decision; although I had previously held six different positions at HSBC over a period of twelve years because there was constant change, my role as a risk manager here at Piguet Galland involves a broader scope of tasks and far more varied responsibilities," explains Carine Casteu, who oversees five teams of twenty people. She approaches her work with precision, and when a team member faces a setback, she seeks to understand the underlying reasons. "In the past, I was fixated on results, but now, with the team's diversity, it's crucial first to understand the context in which goals are met—or not," says Carine Casteu, a senior manager who is also committed to preparing her staff for the evolving challenges of the workplace."

Indeed, Artificial Intelligence is currently a key priority. "AI can improve many things and bring greater efficiency, particularly regarding risk assessment, where data is essential, but it also involves new risks," reveals Carine Casteu. That's why she's following the subject closely, keeping ahead of developments and analysing how banks tackle the issue in other countries. It seems that, in her view, the question is neither whether nor how AI may change day-to-day work but rather when that will happen. In this context we can't look at the subject, and develop strategies to approach it, early enough.

This is also one of the reasons why Carine Casteu recently completed a postgraduate course in organisational resilience at the Geneva School of Management (HEG). "Because a resilient organisation quickly detects future changes and can react appropriately," she notes. At home, Carine’s children had apparently understood the mechanisms of AI and social media long before she did. "They put it to me this way: if you don't have to pay for something, it's clear that you are the merchandise in the shop," notes Carine Casteu.

Sandra Willmeroth