In this episode of the Compliance and Conduct podcast, EY speakers look at compliance transformation, the conduct environment and the current digital shift to end-to-end agile, data-centric decision-making.
The compliance function has evolved over time; from working in organizational silos, with little to no cross-functionality across other business lines, to a change to the current state of cross-functional teams collaborating on key compliance and risk initiatives.
Now, new and unforeseen challenges are driving changes to the current state model:
- Financial markets are changing at pace, they are data-enabled, high-volume, digitally delivered and increasingly tailored
- Regulators are raising a warning flag about lack of investment in compliance technology and capability
- The COVID–19 pandemic is producing new and unforeseen challenges, including conduct and large-scale, rapid digital transformation
- Sajedah Karim, Partner, Financial Services Risk, London, Ernst & Young LLP
- Michel Grummel, Partner, Financial Services Risk, EY Advisory Netherlands LLP
- Stuart Crotaz, Partner, Banking & Capital Markets Conduct and Compliance, Ernst & Young LLP
- Kara Cauter, EMEIA Capital Markets Consulting Partner
- The changing environment of conduct and behaviors
- How the shift in working remotely will affect compliance and conduct
- Recent challenges affecting firms’ culture and the modern compliance function
- Cost agenda
- The future of the compliance function
- How data and technology will fit into a firm’s compliance strategy in the future
For your convenience, the full text transcript of this podcast is also available. Read the transcript.
Sajedah KarimPartner, Financial Services Risk, Ernst & Young LLP
Kara CauterEY EMEIA Capital Markets Consulting Partner; EMEIA Financial Services Compliance and Conduct Leader
Michel GrummelPartner, Financial Services Risk, EY Advisory Netherlands LLP
Stuart CrotazPartner, Banking & Capital Markets Conduct and Compliance, Ernst & Young LLP
Duration 16m 12s