Inside Magazine - Global edition 2017

Welcome to the third international edition of Inside, a publication dedicated to governing bodies and internal control functions. Our objective is to explore the great challenges professionals involved in governance, risk, regulatory compliance, and internal audit will need to overcome for the interest of their organization.

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 events of 2016 remind us that it is entirely improbable that the unthinkable never happens, particularly for an environment that i 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.

Within this changing world, we explore in this edition the main challenges the year ahead may bring:

• The need for organizations to refresh their strategies for how they respond to regulation and how they do business in a regulatory, economic and political environment that will be fundamentally more constraining
• The necessity for companies to reinvent their business and operating models that are currently under pressure given the state of the global economy as well as the threats and opportunities coming from the RegTech Universe
• The need for organizations to strike a balance between wise risk taking and financial performance

To be successful in this revolution, boards and control functions should be the craftsmen of this transformation by acting as a catalyst for positive change and value creation.

In an environment of continuing uncertainty and an elevated degree of business and regulatory risk, risk governance will continue to be a key driver in the development of your business strategies and models.

In this issue

Part 01 | From a strategic and regulatory perspective

• Navigating the year ahead
  EMEA Financial markets regulatory outlook 2017
• Thinking the unthinkable
  Facing the new leadership challenge
• Strategic risk management in banking
• Business model implications of global regulatory requirements
  
• Business model analysis
  European banking sector model in question

Part 02 | From a digital perspective

• Boards still need to go viral on digital
  
• The RegTech universe on the rise
  
• Effective adoption of internal audit analytics in financial services institutions

Part 03 | From a governance and compliance perspective

• Internal audit priorities in the financial sector
• BCBS 239
  Zoom on the scope
• A drain on resources?
  The impact of IFRS 9 on banking sector regulatory capital