August 2019
Intermediate to advanced
392 pages
14h 11m
English
By Zeeshan Rashid
Global Head − BF SI Risk and Compliance Practice,Tata Consultancy Services Ltd
The tsunami of regulations that started from the financial crisis does not seem to have ceased, and the cost of non-compliance has become prohibitive. The quantum of fines that banks have had to pay over the past three to five years suggests that setting aside provisions will not suffice: non-compliance hits the top line and the bottom line directly. No wonder up to 70% of management’s time is spent on managing compliance, which in any realm of the imagination is unacceptable.
The key challenges faced by the industry in managing compliance are the following: