The challenges presented by digital disruption, emerging technologies and risks, and impending accounting and regulatory changes continue to be high on the agenda of management.
In this publication, we explore some ways in which these challenges are being addressed by banks and insurers in order to enhance their competitive position in the second half of 2018 and beyond.
“Exactly who in a financial institution is accountable for regulatory misconduct has been a hotly debated subject ever since the global financial crisis. Recent regulatory trends have the effect of bringing more individuals into scope, covering senior management positions across each of the “3 lines of defense” and certain board level positions. Globally, Banks have taken the shift to greater individual accountability seriously, with some undertaking large-scale reviews and updates of governance structures, management reporting structures, individual responsibilities, governance maps, and management information. This is very much on the local regulatory agenda and we would recommend that Bank’s in Thailand follow suit.”
Partner, Advisory, KPMG in Thailand
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