Compliance is no passing fad. It is a considerable concern for risk managers and something that can, if properly dealt with, actively improve internal standards, and enable organizations to reap a competitive advantage.
So what are the main compliance concerns that risk managers are likely to face in the year ahead?
When it comes to larger financial service organizations, Mark Opausky, CEO and Founder of Canada-based Business Propulsion Systems (BPS) – a leader in enterprise-wide, web-native business process execution solutions – believes 2006 will, in Canada at least, mean “reaching a demonstrable phase in credit risk calculation as part of Basel II. Meanwhile, companies will need to continue to develop a more comprehensive approach to the assessment and management of risk information in their enterprises.”
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