With the enactment of the Senior Managers Regime and Certification Regime last month, relevant firms are now expected to adhere to a litany of guidelines affecting personal responsibility and codes of conduct. This means that firms will not only have to review their internal processes from a technological point of view, but will need to take a hard look at the culture within their business.
It is no longer commercially viable, or wise, to leave governance and risk management solely to individual teams or departments, where it has historically been managed in silos and often only reported on when an incident occurs. Firms will not be able to demonstrate they have taken reasonable steps if systems and workflow are not somehow interconnected.
This paper looks at how firms can gain wider understanding of dependencies across functions and departments by mapping out responsibilities and operations while increasing transparency, consistency and accountability of controls and governance, through the reduction of siloed operations.
Please fill in your details below to download this complimentary white paper.