MyComplianceOffice Blog

Financial institutions never faced as many challenges as during Covid-19. In order to face heightened risk and compliance challenges many firms had to recognize that innovative solutions are essential in all areas of the business.

Getting buy-in from key stakeholders in your organization is a critical part of a successful software purchase and implementation process. With budgets tight and resources limited, how do you make the case for your organization to invest in compliance technology?

It all starts with telling the right story within your firm.

The main compliance issues facing firms during COVID-19 includes the supervision of employees and business continuity amid uncertainty. The SEC Office of Compliance Inspections and Examinations (OCIE) released a risk alert on August 12 to share some observations with registered firms, investors, and the public generally.

Remote work is a part of the current normal in the financial services industry, in the short term and maybe even longer. Arizent, the parent company of American Banker, PaymentsSource, The Bond Buyer and other titles, recently released a survey polling executives to understand how firms are planning the return to the workplace for their employees.

Even as some firms have begun the process of reopening offices, the survey shows that almost 6 out of 10 employers are uncertain about the timing of when employees return to the workplace, and more than half report reluctance from their employees around going back to an in-person work environment. The survey also highlighted that 48% of employees are very interested and 30% are somewhat interested in continuing to work from home. 70% of financial services and 80% of professional services firms polled are likely to allow their employees to continue to work from home if their position allows it.

Companies in financial services have an elevated risk of encountering conflicts of interest, due largely to the influence and connections that come with the territory. This article will tell you how to identify and manage conflicts as they arise.