Banks increasingly face challenges that put pressure on the bottom line. In this post, I’ll focus on the threats that affect the risk departments of banks. In my view, there are three critical areas. The 3 core challenges 1. Regulatory and accounting demands The first is increased regulatory and accounting
When we talk about consent management for the EU’s General Data Protection Regulation (GDPR), one of the key considerations is “consent for a purpose.” It might have been sufficient in the past to provide a form with a single generic consent check box and store the fact that consent was
Part 504 of the US Department of Financial Services Superintendent’s Regulations seems to significantly up the requirements for firms to conduct ongoing review and continuously improve their approach to anti-money laundering (AML) monitoring. But is it really very different from the intergovernmental Financial Action Task Force's broader suggestions to introduce
Stress testing is not new to the risk world but has been a major focus since the GFC (Global Financial Crisis). For a number of years now, stress testing has helped analytical specialists quantify various aspects of potential loss. What is new is the introduction of regulatory stress tests which
