On 8 June 2023, the Financial Market Standards Board (FMSB) published a Spotlight Review and Risk Register on the 3 Lines Model. The Spotlight Review is designed to help firms in assessing aspects of their holistic risk management frameworks by using the 3 Lines of Defence Model as a lens. As such the Spotlight Review … Continue Reading
Last week our Risk Consulting team launched the Conduct Healthcheck, a new product which will provide retail financial institutions with practical insights, analysis and guidance, helping them to navigate the conduct challenges and risks they are facing in respect of the pandemic. To find out more about the Conduct Healthcheck, watch our short video in which … Continue Reading
The global pandemic has brought the importance of good conduct and fair customer outcomes firmly into the spotlight. Whilst this principle is clear, how to interpret it effectively across different sectors, customer service arrangements and delivery models can be challenging. Businesses have also had to rapidly adapt to the broad and growing range of guidance … Continue Reading
Financial institutions have had to deal with two challenges in the face of the COVID-19 pandemic. The first challenge is financial – how to address and mitigate the sharp drop in the value of financial assets or loss of liquidity. The second challenge is operational – how to address the risk of failure of resources … Continue Reading
In this new video series, our Risk Consulting team provide their insights on hot topics in the world of risk and regulation. In the first video John Coley and Iain Hawthorn discuss consumer vulnerability in retail financial services, a topic which has been brought into even sharper focus with the onset of the COVID-19 pandemic.… Continue Reading
The COVID-19 pandemic has impacted the lives of every individual across the country and brought the fair treatment of customers into even sharper focus. As the virus began to unfold, the regulator took swift action to publish various guidance outlining its expectations as to how firms should treat customers who are impacted by it to … Continue Reading
The financial crime landscape has evolved significantly in recent years through, for example, the implementation of the 4th and 5th EU Anti-Money Laundering Directives; diversification of scope of financial crime to include linked disciplines like tax evasion and market abuse; and rapid developments of new technology. Further regulatory changes are also on the horizon, including … Continue Reading
Robust governance is the cornerstone of any well-run business. Global regulators will also always look at the strength of this area when they find problems or issues. Organisations therefore need to have a strong board who hold management to account and good governance practices that permeate throughout the business. Global accountability regimes only amplify the … Continue Reading
Our risk consulting team is pleased to sponsor the Financial Services Compliance & Risk Conference, a one-day industry-led conference taking place on March 4, 2020 in London. Amidst increased regulatory expectations, emerging technologies and changing business models, financial services companies must continue to evolve their risk and compliance strategies. This conference will see compliance and risk … Continue Reading
Our regulatory compliance consulting team are pleased to be sponsoring the 1LoD Summit, the leading event dedicated to front office risk and control functions within financial institutions, which takes place in London on November 21 this year. The Summit will bring together over 200 senior practitioners from across the three lines of defence for a day … Continue Reading
