FS Insights

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FS Insights

FS Insights

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Volume
4
Issue
8
07/2014
July 21, 2014 will mark the passage of another year in the life of the Dodd-Frank Act (DFA). As we approach this fourth anniversary of the law’s enactment, the percentage of rules finalized remains essentially unchanged from last year at this time. True, there were some notable developments over the past 12 months, such as the finalization of the Volcker Rule and a number of new and updated rules issued by the Consumer Financial Protection Bureau. Yet nearly half of the required rules still are not final. Debate continues about the impact of the law on community banks, the opportunities for...
Volume
4
Issue
7
05/2014
Introduction New and emerging technologies, such as social, mobile, analytics (big data) and cloud – sometimes referred to collectively as SMAC – offer great promise in terms of innovation, agility, cost-effectiveness and resiliency. It can be difficult to know, however, what is hype and what is real, when to adopt and when to wait. As we learned from the dot-com era, first movers in applying technology innovation to the business world are often confronted with risks that outweigh the anticipated returns. On the other hand, missing a wave of innovation has risks of its own. Financial services...
Volume
4
Issue
6
01/2014
Introduction “Bolstered by a strong economy and with regulatory challenges behind them, financial services companies thrived in 2014.” That would be a nice headline, wouldn’t it? But it’s probably not the one we will see. On the contrary, an uncertain economic climate coupled with persistent regulatory change will continue to test the financial services industry. Add to those issues some additional threats and challenges, such as regaining customer and market trust; enhancing risk management, governance and internal audit functions to keep pace with the complexities and velocity of changes in...
Volume
4
Issue
5
12/2013
Deficiencies in risk management were a major factor that helped set the last financial crisis in motion – and led to the collapse of many financial services firms. Consequently, regulators, lawmakers and business leaders in the financial industry have been exploring various ways to improve risk management at financial services organizations – by implementing new laws and regulations, refocusing attention on risk appetite, increasing risk awareness, and emphasizing company culture, among other things.
Volume
4
Issue
4
11/2013
July 21, 2013, marks the third anniversary of the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA). In advance of the anniversary, the media is once again posing the same question it asked for the first two anniversaries: “What is taking so long?” As in the past, the media answers its own question, at least in part, by noting that the law’s timetable was not realistic to begin with given the extensive burden it placed on the regulators to promulgate hundreds of complex rules. The media also acknowledges a further complication: A number of the regulations...
Volume
4
Issue
3
10/2013
There are significant challenges facing information technology (IT) leaders in the financial services industry (FSI)  today. Some of the major FSI IT challenges are the very same ones IT leaders in all industries are facing. These include mobile commerce, social media, the safeguarding  of client and employee data, management and classification of data, risk management, IT infrastructure planning, business continuity, and IT asset management. However, while IT-related themes are similar across industries, the context in which the challenges are developing in FSI is directly related to the...
Volume
4
Issue
2
09/2013
Basel III … Dodd-Frank … twin peaks model … LIBOR manipulation … data security … mortgage reform … risk management. Similar to 2012, these and other issues continue to evolve and very likely remain on the agendas of financial institutions as priorities to address in 2013. The global financial crisis continues to ebb, but these organizations are experiencing new waves of concern as they deal with a dynamic market and demanding regulatory landscape while maintaining or enhancing profitability and competitive positioning. With this context, we offer these insights into some of the challenges...
Volume
4
Issue
1
08/2013
Recent lapses of standards and values have resulted in regulatory inquiries, enforcement actions, financial penalties, resignations and reputation blows for some of the world’s largest financial institutions. And while the financial services industry should take no comfort from this, it is by no means the only industry that has failed to live up to the expectations of its constituents. To be fair, the current headlines are just the most recent examples of corporate breakdowns, as we are reminded by this statement from the introduction to a special report in the June 2002 issue of FORTUNE,...