Inside Edition 2017 | Deloitte

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Inside Magazine Edition 2017

Exploring the challenges of Governance, Risk and Compliance

This year's Inside edition has been influenced by the ever more unpredictable world in which we are evolving, and provides insights into some of the main challenges the year ahead may bring.

'Companies are confronted with a changing environment and need to respond to challenges'

Over the past years, our world has experienced exponential advances in the control of our environment. Paradoxically, we have a growing feeling to be particularly vulnerable to unexpected events. We are indeed evolving in a very sophisticated and highly interconnected world where a tiny blip might lead to devastating consequences. The event of 2016 reminds us that it is entirely improbable that the unthinkable never happens, particularly for an environment that is continuously in transformation at an ever faster pace. This prompts the need to constantly revisit the fundamental principles that outline our thinking to ensure we are still in line with the driving forces governing our world, giving us the opportunity and time to anticipate and prepare for unlikely high impact threats.

With this changing world, the Inside Magazine Edition 2017 explores the main challenges the year ahead may bring. Please find below an overview of the articles presented in each of the following three dimensions.

  • From a strategic and regulatory perspective
  • From a digital perspective
  • From a governance and compliance perspective
Inside Magazine Edition 2017

From a strategic and regulatory perspective

Navigating the year ahead
Deloitte's EMEA Centre for Regulatory Strategy has published their annual assessment of how major regulatory developments will shape the financial services industry next year, and how firms can respond to these trends.

Thinking the unthinkable
Do events such as Brexit and the US Elections signal a rise of populism and protectionism? If so, what was the reason for this, and what changes in the reality of the risk landscape does this signal?

Strategic risk management in banking
The banking industry is currently in a period of heightened change and uncertainty. The competitive environment continues to evolve, and the low-growth, low-interest rate economic environment is putting pressure on the traditional sources of profitability.

Business model implications of global regulatory requirements

Financial services firms face challenges to their business models – many are still grappling with the task of demonstrating a business strategy that delivers sustainable future returns.

Business Model Analysis
The sluggishness of the profitability of the European banking sector should push a deep market transformation under the scrutiny of the Business Model Analysis (BMA) performed by a variety of institutions.

From a digital perspective

Boards still need to go viral on digital
The modern economy is unthinkable without big and medium sized corporations, and hence without board of directors. Though their job has not changed dramatically, the digital challenges they face has.

The RegTech universe on the rise
A new buzzword has emerged: RegTech. Put simply, RegTechs offer solutions that use technology to solve compliance and regulatory issues.

Effective adoption of internal audit analytics in financial services institutions
By capitalizing on the wealth of data now available, Internal Audit (IA) can generate valuable news insights, provide greater assurance, and rewrite the rulebook on traditional auditing techniques.  

From a governance and compliance perspective

Internal audit priorities in the financial sector
In an era of continued challenges around conduct and behavior for firms, regulators and boards are more aware of the issues and prepared to act.

BCBS 239
The application of the BCBS 239 regulation will have a direct consequence on the data management of banks.

A drain on resources?
The impact of International Financial Reporting Standards (IFRS) 9 on banking sector regulatory capital.

More information?

If you have questions about the report, please do not hesitate to get in touch with Eelco Schnezler via eschnezler@deloitte.nl / +31882885220

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