In 2018 we published our Mission: control in Financial Services paper which explored how the industry was responding to an increased focus on management of non-financial risk. We explored the emergence of the Chief Controls Officer (CCO) role at several financial institutions and how they were creating a single leadership position that owns the control narrative across the 1st line.
In the wake of the pandemic, we can see that further social, economic, and regulatory developments have had an unprecedented effect on business models, customer behaviour and industry ways of working. We are now in an always on, digital, right now, and often hybrid environment. This profoundly impacted the demands put on 1st line internal control functions.
Our latest thinking delves into five key challenges facing the function today, including:
Our clients find themselves in an environment of changing business dynamics, economic & social disruptions, with constant change required to address an evolving regulatory landscape, changing customer demands and continued transformation efforts. Internal control teams play a pivotal role in unlocking business value to pioneer and facilitate this business transformation.
We are uniquely placed to deliver multi-disciplinary expertise to help mature and transform your control capabilities. We help our clients build their internal capability, skillset and tooling for a sustainable and affordable execution of the internal control agenda.
Our approach to transforming an organisation’s internal control capability builds on our expertise and experience across multiple sectors. The key components of our services are:
If you would like to hear more about our Financial Services Controls capabilities or discuss any of the points highlighted above, please reach out to a member of the team below.