Digital transformation brings with it compliance and risk challenges that cannot be ignored. As organisations pursue digital transformation in many forms, such as Regtech, Fintech or Insurtech or outsourcing data services there are important compliance and risk issues that need to be addressed before potential benefits can be realised from new age technical dimensions. Compliance officers want their organisations to achieve profitable business propositions, whilst at the same time strive to ensure a unified compliance culture addressing ever increasing regulatory requirements. It can be a fine balance to achieve both in such a multi facet environment.
Compliance and risk budgets need to be managed carefully as insufficient resources can be more costly for organisations in the long run. We have all read about regulatory disasters in different jurisdictions leading to loss of customers, market share and reputation, not to mention exceptional regulatory penalties. Many of these compliance and risk issues could have been avoided if greater care was taken at Board and Senior manager levels. As digital transformation occurs, Boards, Senior managers and Compliance departments need to understand their own internal vulnerabilities and address the many challenges head on whilst being flexible and nimble to ensure compliance and conduct risk issues are adequately addressed, including senior manager liability.
This webcast featuring experts from Thomson Reuters and IBM will allow you to benefit from the international insight provided by experts in the field and assist you and your organisation to consider some of the challenges ahead and how you can deal with them.