Compliance functions at financial institutions transformed markedly after the financial crisis. However, there are several emerging trends that will require even more radical transformation of Compliance over the next few years, including the further evolution of regulatory expectations related to conduct and culture, cost pressures on all parts of financial institutions and technological enhancements.
In this Point of View, The Time to Future-Proof Compliance is Now, we suggest that Compliance reviews its current approach, responsibilities and people, and take the time now to consider a new directional path taking account of the important macro trends at work. It is time to run a strategic refresh, define the next generation target-state for Compliance, and develop a roadmap with key initiatives and operational enhancements.
