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Financial 2020-04-16T20:11:22+00:00

The Challenge

Compliance functions have gone through a major period of growth and investment since the financial crisis. Many firms have seen massive growth in their compliance functions since 2008. There are now growing pressures to improve effectiveness and efficiency.

Over the last ten years, compliance functions have increased their resources. They have widened their range of tasks and dramatically increased monitoring and surveillance, whether manual or automated. This growth is partly due to the post-crisis regulatory reform agenda (including not only resilience and, for banking, resolution requirements). It is also a reflection of retail and wholesale trends, anti-money laundering, governance and culture. In the UK, there are individual accountability requirements (UKSMCR), more intensive and intrusive supervision and Brexit. Compliance functions now have an increased profile and higher expectations placed upon them.

With tough economic and competitive conditions, evolving risks and cost pressures on financial institutions, compliance functions must align with strategic goals and transform into a more value-added service that can deliver more effectively and efficiently.

Compliance Objectives

How Can Ekko Help?