Global risk management survey, ninth edition - select key insights

Article

Global risk management survey, ninth edition - select key insights

Operating in the new normal: increased regulation and heightened expectations

We are pleased to share with you here a selection of key insights from current top of mind issues explored in DTTL’s Global risk management survey, ninth edition. In this feature we have selected the current issues of regulatory risk, cybersecurity and risk data and technology systems for discussion.

To view the full 56-page report and the accompanying infographic, please visit http://www2.deloitte.com/global-risk-management-survey.

Executive Summary

The global financial crisis was the catalyst for an era of sweeping regulatory change that shows little sign of abating. Across the financial services industry, regulatory requirements are becoming broader in scope and more stringent. After new regulations are enacted, it can take years before their practical implications become clear. Although the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) in the United States and Basel III were introduced several years ago, their rules are still being finalized. New regulatory developments include the US Federal Reserve’s Enhanced Prudential Standards (EPS), the European Central Bank (ECB) becoming the prudential supervisor of eurozone banks, a new Banking Standards Review Council in the United Kingdom, and Solvency II becoming effective for European insurers in 2016.

The new regulatory landscape is placing demands on financial institutions in such areas as corporate governance, risk appetite, capital adequacy, stress tests, operational risk, technology data and information systems, and risk culture, to name only some areas of focus. As institutions prepare to comply, they will need the flexibility, in both their business models and compliance programs, to respond to the seemingly inevitable next round of reforms.

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Inside Magazine - Global edition 2016

Inside is Deloitte’s quarterly magazine offering an exclusive insight into best practices, trends and opportunities faced by our clients across all industries.

Inside focuses on the main hot topics relevant for the market (Asset management, Banking, Insurance, Public sector, Healthcare, Private equity, Real estate, TMT, Manufacturing and consumer business, Transport and logistics).

PDF - 12.6 MB
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