RiskTech Forum

Capco: Identifying and Achieving Sustainable Strategic Responses through Recovery and Resolution Transformation

Posted: 14 June 2014  |  Source: Capco


Regulatory impact will inevitably lead to transformation. The challenge - and the opportunity - is to shape and manage that transformation effectively, thereby achieving a truly strategic, commercial and customer focused response. It’s time to go “beyond compliance”.

Global Regulatory Compliance – we have to achieve it in parallel across a range of jurisdictions and in a demanding context: evolving legislation and effective response to the need for sustained corporate development in a highly competitive market.

Overview

Isolated ‘compliance only’ responses to the rigors of recovery and resolution planning can soon restrict the business to the point of strangulation. Quite simply, they do not and cannot work. Why? For any multinational or global financial institution, acceptable regulatory compliance has to be tackled in multiple dimensions. First, there is the ‘geography dimension’ – different geographies have separate authorities, all stipulating compliance within different regulatory frameworks.
Second, there is the ‘evolution dimension’ – within each regulatory framework, the specific rules are evolving continuously. Third, there is the ‘disconnection dimension’ – a oneoff initiative, sanctioned for a single area of operation, carries a significant risk of misalignment with the needs of other geographies.

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