In this video, Ian Shiels, Partner in Charge of Financial Risk Management, explores why the regulatory compliance landscape is complex, what organisations can do about the pace of change, and how KPMG can help.
Ian Shiels, Partner in Charge of Financial Risk Management, explains the three drivers to the complexity of regulatory compliance: the sheer volume of regulatory content and rate of change, the cost of non-compliance, and number of steps to the compliance lifecycle that involves teams across the organisation.
Ian also shares the steps an organisation can take to deal with the pace of change – including recognising that this is structural not cyclical change – then designing an approach to deal with the ongoing challenge, which includes technology.
Finally, Ian outlines how KPMG can help organisations, from designing and implementing a major transformation of your compliance function, to identifying efficiency opportunities in a business as usual compliance function, or to assisting with an active remediation program.
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