Insights

The VUCA (Volatile, Uncertain, Complex and ambiguous) acronyms has never been more true than today. Indeed, we are all facing very unusual circumstances with an unclear future about when we will be back to normal and what it will mean. You can record daily the advices of experts in any fields and compare their opinions, not only they are likely to be different between themselves but also to change rapidly…

The art of change is of vital importance to a company. Although change management isn’t usually granted its own KPI, it fuels all your project outcomes whether it is cash, efficiency or operational control. Consulting companies will use appropriation rates to bill their services, but the experience shows that appropriation is a broader topic that what is usually encompassed in the change management stream of the program. Change is governed…

  In 2007, monoline crisis started a rippling effect that still echoes today contributing to shape a framework for financial institutions worldwide. This framework takes its roots in regulations learnt from those crisis e.g. Basel III with liquidity coverage ratio, regulations fed by sanctions and embargoes driven by country policies e.g. sanction against Iran. Data privacy regulations e.g. RGPD linked to the growth of big data are also molding the…

Compliance is about values and brand, it matters. As I have exposed it before, Compliance in general and Financial Security in particular are complex and very sensitive matters. Complex for they imply to adapt business and operating models to regulatory constraints as well as many other parameters: client types, geography, financial products and activities. All these elements are key in the equation that will deliver the most resilient efficient and…

In the last 10 years, companies are evolving in a very competitive environment with important challenges due to the digital imperatives and regulatory steady changes. They are launching strategic initiatives to transform both their business and operating models to be able to bring appropriate responses to face new competitors, to be more clients focused and to manage the regulatory risks. Projects and programs are key levers of this transformation –…

In my previous articles on Financial Security, I have highlighted the high stakes involved in compliance matters. I have also underlined the complexity of transversal project and provided some clues on how those issues should be addressed . Once the gap has been offset, once appropriate compliance processes have been implemented, once training programs for existing staff and new comers have been rolled out, there will be only one outstanding…

Compliance matters are highly complex. To ensure the financial sector maintains its effort toward a sustainable financial system, it is key for the market to appreciate, in particular, bank’s effort and challenges as well as to promote the most ethical practices. The financial world has paid the price for its past actions. Not only the bill to the regulators has marked memories, but people were impacted and changes those worldwide…

The subprime crisis has opened a door for regulators and a wide path for compliance projects. The total amount paid so far by banks to the regulators beyond subprime has been very impressive especially when it comes to US regulators (231 bUSD out of 234bUSD since 2007). Around half of these fines has been paid by US banks. A couple of hundred bUSD later, many financial institutions have started and…