Risk & Regulatory Management for the Financial Services Industry

2007-11-14 17:23:39 Source: http://www.accenture.com

The Risk & Regulatory Management program helps financial services clients to maximize their investments in compliance initiatives and conserve shareholder value.

The financial services landscape is currently being subjected to an unprecedented bombardment of new and increasingly more onerous, regulatory requirements. Banks, capital markets organizations and insurance companies are all impacted from initiatives ranging from Basel and Solvency II requirements, to broader issues such as International Accounting Standards (IAS), Sarbanes Oxley and USA PATRIOT Act. One common theme emanating from these changes is that they all require substantial upgrades to existing risk and finance capabilities and infrastructure.

Similar to the Y2K and Euro initiatives before them, investment to meet these new regulatory requirements is unavoidable. However, unlike these previous compliance change programs, the current investments do not need to result in an erosion of shareholder value. Companies can select from other options, which deliver longer lasting benefits over and above compliance, including:

Reusing compliance investments to deliver broader business benefits in areas like enhanced pricing for risk, improved process efficiency, reduced losses, better internal information management and improved customer relationship management; and Coordinating compliance spend to cover as many of the new requirements as possible, such as Basel II and IAS programs, or Operational Risk and Sarbanes Oxley initiatives.