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Compliance transformation: How new challenges are driving change

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

Speakers:

  • 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

Learning outcomes

  • 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.

Presenters

Sajedah Karim
Partner, Financial Services Risk, Ernst & Young LLP
Kara Cauter
EY EMEIA Capital Markets Consulting Partner; EMEIA Financial Services Compliance and Conduct Leader
Stuart Crotaz
Partner, Banking & Capital Markets Conduct and Compliance, Ernst & Young LLP

Podcast

Episode 3

Duration 16m 12s