Women in risk, how are they changing the industry?

In this episode of Good Question, we hear from two powerhouse Chief Risk Officers, Laurel Sykes of American Riviera Bank and Michelle Proshaka of Nymbus, about how women are shaping the future of fraud, compliance, and innovation in financial services.

Hosted by Brianna Valleskey, the episode dives into the pivotal role risk leaders play in tech transformation, customer education, and business resilience — from pandemic-era loan programs to emerging AI use cases.

With candor, strategy, and plenty of wisdom, Laurel and Michelle show why empathy, curiosity, and authenticity are now essential risk leadership traits.

From credit union teller to CRO

Both Laurel and Michelle began their careers as tellers: Laurel in a high school ROP program, Michelle at a credit union in Iowa. Their deep on-the-ground experience gives them a rare blend of operational fluency and strategic foresight.

“I was the kid who always asked ‘why?’ That curiosity (along with understanding how banking really works) has shaped everything I do in risk,” Laurel said.

They’ve since led regulatory programs, launched fintech brands, and built teams across traditional banks and modern platforms. Their paths reflect a new kind of risk leader: one who blends legal knowledge, data intuition, and a relentless drive to protect customers.

AI for fraud prevention and customer education

Laurel and Michelle both shared real-world examples of how they’re using AI and LLMs across fraud detection and customer engagement.

Laurel highlighted how American Riviera Bank uses AI to:

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• Prevent elder financial abuse through passive transaction monitoring
  
  
• Ingest and scan suspicious emails for scam patterns
  
  
• Generate educational content quickly using Copilot and LLMs
  
  

“Fraudsters are using AI to optimize their scams. We have to match that with smarter systems and faster education,” Laurel said.

Michelle explained how Nymbus integrates risk technology into their modern banking core, using partners like DataVisor to:

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• Detect fraud in real time through device intelligence and behavioral biometrics
  
  
• Monitor transaction patterns to identify risky activity before losses occur
  
  
• Test new fraud prevention methods across niche banking brands
  
  

“Risk officers today are no longer blockers. We’re builders. We help shape products that are compliant by design,” Michelle said.

Balancing innovation and regulation

Rather than resist change, both guests embrace it—through smart governance, human-in-the-loop systems, and culture-building.

Michelle emphasized the importance of giving risk teams their own vision, mission, and values to break the stereotype of being “the department of no.” Laurel echoed the need to prioritize what really matters.

“You can’t fix everything. You have to focus on the highest impact risks,” Laurel advised.

Both leaders also use AI not just to detect fraud, but to streamline communication, automate the mundane, and amplify human talent—freeing teams up to do more critical thinking and relationship-building.

What women bring to the risk table

Laurel and Michelle reflected on the challenges—and strengths—of leading as women in risk, including:

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• Managing imposter syndrome
  
  
• Staying clear and direct in high-stakes conversations
  
  
• Leading with emotional intelligence and empathy
  
  

Michelle emphasized the difference between mentorship and sponsorship, advocating for women to find people who will say their name in a room full of opportunities.

Laurel added: “Network. Show up. Get connected. Especially in fraud, relationships are everything.”

A new definition of risk leadership

This episode showcases a new era of risk leadership—one that’s collaborative, tech-savvy, and human-first.

Whether it’s automating board memos, preventing elder scams, or guiding product teams through regulation, CROs are becoming strategic growth drivers, not just gatekeepers.

As Michelle puts it: “The best risk teams aren’t the ones that slow innovation down. They’re the ones that help you build it right from the start.”