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CAPABILITY


THE REGULATORY AND
COMPLIANCE CHALLENGE

Four priorities drive regulatory and compliance programs.

Waves of regulations are keeping financial services institutions on their toes. Costs for compliance are high, and financial institutions should frequently restructure to keep in compliance and future-proof the enterprise. Most institutions struggle to balance compliance and operating concerns with their need to craft a strong reputation as a desirable employer and good corporate citizen.

Several themes underlie the need for change in regulatory and compliance programs according to senior financial services compliance executives surveyed by Accenture:

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Regulation

Continuing waves of regulation are driving significant compliance cost increases.

50% of respondents ranked responses to changing regulation (e.g. global structural reform) as one of their top 3 change drivers within the next 12 months.*

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Restructuring

Financial services institutions should future-proof their operating models to remain compliant as demand for fundamental change continues.

78% of respondents expect compliance to have greater influence over their firms’ strategy, business model and culture.*

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Reputation

Financial services institutions should continually manage and enhance their reputation as corporate citizens and desirable employers.

75% of respondents agree compliance will take more responsibility in driving a firm wide program and cultural change within the next three years.*

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Cost effectiveness

Financial pressures mean financial institutions should work to keep compliance costs within reason.

90% of respondents expect compliance spending to increase, but the level of increase is beginning to taper off.*

HOW CAN ACCENTURE HELP

Building a responsive strategy and lasting implementation with global perspective

Accenture’s regulatory remediation and compliance transformation capabilities can help financial services firms across the four dimensions of regulation, restructuring, reputation and cost reduction. We help financial institutions with:

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Global and local integration:

Helping firms meet regulations, both around the corner and across the globe acquisition integration

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Responsiveness:

Helping businesses adapt to changing stakeholder expectations

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Sustainability:

Helping to drive lasting outcomes for financial institutions by integrating our unique, offshore delivery capability


Services offered

We offer several solutions for supporting regulatory remediation and compliance transformation. These include:

Compliance Transformation

  • Surveillance
  • Strategy and Target Operating Model
  • Governance, Risk, Compliance
  • Management Information and Performance Management
  • Operations Strategy
  • Regulatory Change Management
  • Risk Management
  • Compliance Labs and Technology
  • Digital Compliance

Regulatory Remediation

  • Compliance and Financial Crime Regulations
  • Conduct Regulations
  • Front Office Regulations
  • Insurance Regulations
  • Prudential Regulations
  • Structural Regulations
  • Regulatory Reporting
  • Third Party Risk Management
2017 COMPLIANCE RISK STUDY

Sustaining compliance through continuous innovation

The compliance function has grown in stature, with a majority of compliance leaders reporting to either the Board or the CEO. But the function cannot rest on its laurels, given dramatic increases in compliance's scale of responsibility and growing complexity in the risk ecosystem.

Innovation can help the compliance function survive and thrive. See how compliance leaders are daring to be different—innovating to drive their function into the future.

LEARN MORE

Previous compliance reports: 2016 | 2015 | 2014

TOP OF MIND

Anticipating today’s and tomorrow’s needs

See why financial firms may need to focus their approach and better define compliance.

LATEST THINKING


Regulatory Insights Blog

Learn about recent regulatory changes impacting financial services firms.

Visit the blog


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