Road to Digital Compliance
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This document discusses the challenges that financial institutions face in achieving digital compliance. It notes that compliance programs must respond to rapidly evolving technologies, increased regulatory focus on compliance, and addressing cross-border data exchanges. The document then summarizes that Accenture offers capabilities and services to help financial institutions shape their digital compliance efforts, including professionals with regulatory knowledge, tools to assess maturity levels and identify gaps, and support for anticipating and responding to future changes.
Road to Digital Compliance
- 1. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. 16-1041 The Road to Digital Compliance The digital era has revolutionized how financial institutions conduct business, while exposing them to new and more severe dimensions of risk. In this evolving landscape, and confronted with pressures from a dynamic regulatory environment, compliance programs are expected to face important challenges, including: Accenture offers an extensive range of capabilities, tools and assets, as well as a strong track record of helping financial services institutions prepare for sustainable digital compliance, including: How Accenture can help financial institutions shape their digital compliance For more information, please visit: www.accenture.com/RegulatoryCompliance Responding to rapidly evolving, sophisticated and complex technologies Coping with IT’s migration away from a pure back-office support function to a technology enabler Regulators increasing their focus on compliance Addressing cross-border data and information exchanges A global Finance and Risk team, including certified risk management professionals and practitioners with global and jurisdictional regulatory knowledge A team of professionals and practitioners with experience in designing an agile and responsive digital compliance target operating model Assessment of a firm’s current state vis-à-vis its target state to identify key gaps Accenture’s state-of-the-art capability maturity framework to help financial institutions assess the maturity level of their compliance business processes Support from Accenture’s network of professionals and practitioners who work to anticipate upcoming changes, so firms are prepared and can respond with confidence to the future Access to Accenture’s Digital Regulation Repository that captures and stores regulations specific to the area of Digitization Change management tools, including program design and roadmaps that support prioritization and delivery and can be customized to a financial institution’s needs Aligning business goals to the digital agenda and strategy Lack of awareness, familiarity and training in new compliance risks affecting the digital landscape Accommodating new and changing requirements (internal and external) Lack of integrated surveillance strategy Responding to enterprise-wide inconsistency across compliance standards Lack of integrated business and technology governance 1 3 4 2 5 7 6