Sign In
Manage PermissionsManage Permissions
Export Event


Lost in (Machine) Translation? The Ethics of AI and Big Data in Financial Services

Event Description

The Ethics Committee of CFA Society VBA Netherlands is proud to present this year's annual conference:

Lost in (Machine) Translation? 

The Ethics of AI and Big Data in Financial Services

Join us to explore both the amazing opportunities and novel risks that AI and big data create in the financial sector. How can we harness these new developments to provide our clients with innovative services without losing sight of our duty to handle personal data in an ethical manner?

Are AI and big data going to give us unprecedented opportunities or are they actually affecting our freedom? How does AI change the way we invest? Do AI and big data lead to better investment returns or a better choice in responsible investment? And what opportunities are there on the consumer side? Who owns the data that is essential for AI? Is and will that be the consumer? Do consumers and businesses allow others to use their data in whatever way they want? Ethical dilemmas arise with the use of AI and big data. How do we make the right choices? This afternoon, experts will take you through the latest trends and dilemmas.
Increasingly richer data (personal, social, location and financial) is shared with one click. More often than not, people are forced to give permission for our data use as a condition for access to basic services. People are increasingly worried about whether companies are spying on personal data, but the real concern should be whether the data is used to guide behavior. For example, a person's digital behavior could be used by banks to give customers a sort of "risk score". This score can be used to evaluate and determine the types of goods and levels of services. By combining financial, personal and social data, companies can allow consumers to know better than they know themselves. This is already the case in the online advertising space, where previous search history and browsing history is used to recommend products and services. This species gets into the realm of human behavior with increasing accuracy. Is it ethically justified for the financial sector to use customer data to steer their spending / investment patterns? To determine their risk profile? To persuade them to buy appropriate financial products? What tangible value does the financial sector offer its customers? Does she serve the customer or herself?

14:00 Registration
14:15 Start Program; topics include:

  • Ethics in AI, a way to avoid regulation?
  • Regulatory guidance and challenges. 
  • AI in daily investment practice.
  • AI/Big Data and ethics from technical perspective. What is possible versus what is morally justifiable?

17:00 Networking Drinks
18:00 End of Program


Everyone is welcome. Registration is mandatory.




Hanzo van Beusekom, Member of the Executive Board at Autoriteit Financiële Markten​

Hanzo will lead the discussion on the formation of regulatory criteria that could enhance the added value of principles in AI.

Hanzo van Beusekom has been a member of the Executive Board of the Dutch Authority for the Financial Markets (AFM) since 1 June 2018. Within the board, he is responsible for cross-sector supervision and renewal, with a particular focus on data- and technology-driven supervision. From 2011 until 1 June 2018, Hanzo van Beusekom was a partner at Clear Conduct, a strategic consultancy specialising in strengthening supervision. In recent years, he has supported more than twenty supervisory organisations in the Netherlands and internationally. Hanzo van Beusekom previously worked at the AFM from 2003 to 2010, as head of the Supervision Group for major financial institutions and head of Strategic Analysis. Before that, he was a strategy consultant at The Boston Consulting Group. He has a particular interest in contributing to organisations that create public value. In this, his focus is on change that enhances these organisations’ effectiveness.​



Cecile Schut, Director System Supervision, Security and TechnologyDutch Data Protection Authority

In her role as security specialist, Cecile will share her insights on the application of AI and big data from the client protection perspective.

Cecile (C.M.) Schut Msc. MPA has been Director System Supervision, Security and Technology with the Dutch Data Protection Authority since January 2018. She is responsible for offering guidance to organisations and their data protection officers, the assessment of requests for prior consultations, codes of conduct and other GDPR instruments that stimulate organisations to become privacy-proof. Besides, her unit is responsible for high-quality and up-to-date knowledge in the field of security and technology which is necessary for the different supervisory tasks of the Dutch DPA.

Before that, she worked at Statistics Netherlands (CBS) for more than 20 years; the last few years as Director Policy staff. Originally Cecile is a Mathematical Engineer, graduated at the University of Twente, after which she worked as a researcher with KPN Research. In 2014 Cecile also obtained a Master in Public Administration at the Netherlands’ School of Public Administration. ​


Jan Veldsink, Lead Artificial Intelligence Rabobank

Jan will share his experience integrating AI into investment processes and making effective use of all the data available.

Jan Veldsink is working as consultant and teacher on the subjects of Cybercrime, Artificial Intelligence, digital transformation, organizational development and innovation at Rabobank and Nyenrode Business Universiteit.
At Rabobank Jan is Lead Artificial Intelligence and Cognitive Technologies within Global Compliance Surveillance & Integrity Investigations. At Nyenrode he is Core Teacher of the module AI and Cyber, one of the Modular Executive MBA in Business & IT programs.

Gerben de Zwart foto High Res.jpg 

Gerben de Zwar​t, CFA, Managing Director Quantitative Strategies at APG

Gerben’s presentation “Big Data is the New Gold for Investors” provides insight into what is available and what is possible in the realm of ‘big data’, how APG uses data to benefit  pension funds, and addresses a number of actual (ethical) dilemmas encountered by APG in this area.

Gerben de Zwart, PhD, is Managing Director Quantitative Strategies. He is responsible for APG’s investment portfolios that are systematically managed. The investments include equity, commodities and corporate bonds. The (smart beta) portfolios are active, long-only and both internally and externally managed. Trends that keep Gerben busy are Responsible and Sustainable Investing, alternative data/AI/Machine Learning and Model Risk Management. Prior to joining APG in 2010, De Zwart was employed by ING Investment Management and Robeco. He earned his Master’s degree from Delft Technical University and his PhD from the Erasmus University Rotterdam. De Zwart holds the Chartered Financial Analyst designation. ​

Read this arti​cle​ from Gerben: Big Data het Nieuwe Goud for Pensioenbeleggers?​ 


Melinda Rook, RBA, MBA is an investment professional with knowledge and experience of investment processes aimed at institutional asset managers. She has a background in Portfolio Management at PGGM where she was responsible for managing the total client investment portfolio. She currently workes at KPMG as an advisor with a focus on technology and smart automation within the investment management sector. Melinda has a master degree in International Economics, an RBA and an MBA titel. Melinda is also a boardmember for CFA Society VBA Netherlands where she is responsible for the education portfolio.

Event Type

Society; Educational

Education Topic

Standards, Ethics, and Regulations

Start Time

3-10-2019 14:00

End Time

3-10-2019 17:00





Event Country


Event Region


Location Info

Symphonys Auditorium
Gustav Mahlerplein 3
1082 MA Amsterdam​



CE Credits


SER Credit




Member Price

Free to members of the society

Non-Member Price

Partners EUR 25; all others EUR 50

Candidate Price




All Day Event





Content Type: MyCFA Custom Calendar
Created at 16-7-2019 15:03 by
Last modified at 7-10-2019 07:37 by