Banking tumult featured prominently in 2023. The sometimes staid discipline of risk management had its turn in the spotlight after successive crises engulfed Silicon Valley Bank, Signature Bank and Credit Suisse Group. The heavily regulated industry also has grappled with new technologies, such as bank accounts that live on smartphones and the growing ubiquity of artificial intelligence.

The Wall Street Journal’s Risk and Compliance Journal, a fellow Dow Jones group title, spoke with acting comptroller of the currency Michael Hsu — one of the nation’s top banking regulators and a leading voice on risk and on banks being “too big to manage” — about the past year and the challenges looming for the industry.