Actions to drive effective change in Financial Services
Effects from the anticipated deregulatory policy agenda have not resulted in the dramatic lessening of regulatory challenges for financial services providers that had been predicted. In 2018, regulators clearly will continue to expect an overall strengthening of core risk management governance, controls, practices, and reporting, particularly in the areas of cybersecurity, third-party risk management, and conduct and culture. Continued adoption of automation and innovative technology will help drive sustainable and effective change across these regulatory challenges.
This report from KPMG offers a high-level look at ten key regulatory challenges we believe will influence and impact the financial service industry in the coming year. The report also highlights the drivers behind these challenges and serves as a guide to actions financial services companies can take to address them. The ten key regulatory challenges include:
The KPMG Ten Key Regulatory Challenges for 2018 can help financial services companies allocate valuable resources and investment to manage risk. 2018 will be a time of geopolitical uncertainty coupled with continued technological and automation advances. Companies have a unique opportunity to enhance their practices in a more sustainable and ultimately more efficient manner. As they address the challenges through effective action, they will continue to drive what is core - customer trust in the financial market and their organization.