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Mastering Employees Certifications and Attestations

Financial services firms are among the most heavily regulated organizations worldwide.

From the FCA to FINRA to state-level legislators, financial services firms are subject to a web of compliance requirements and contractual obligations. Of course, it’s not enough to simply be compliant with these requirements—each firm has to prove it.

That’s where certifications and attestations come into play.

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Time To Get Serious About SMCR in the Context of Climate Change

In April 2019, the Prudential Regulation Authority (PRA) sent a letter to CEOs highlighting its expectations for Boards of PRA regulated firms to understand and manage climate-related risks. The statement expects firms to allocate responsibility and appoint a Senior Management Function ("SMF") responsible for identifying and managing climate-related risks.

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RegTech Rescuing Financial Services

According to a 2019 survey financial institutions, especially banks, are falling behind when applying digital transformation to conduct risk management. The current situation shone a light on the lack of technology to monitor employees' activities, regulations, conflicts of interest and conduct risk across organizations. During the pandemic, risk and compliance departments were struggling to manage risks, provide reporting and comply with regulations. All that drove even more attention to the need for RegTech solutions in financial services.

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2020: A Great Year of Webinars

2020 was a different year, but some things never change. MCO once again hosted several webinars to update compliance and risk professionals on the latest regulations, enforcements and industry best practices. Here are some of the highlights of what we learned from our expert speakers in 2020.

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Using Technology to Transform Compliance

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.

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