Deutsche Bank’s Post

Our Risk roundtable on the 9th of November is fully booked! But don't worry, due to high demand, we've added another session on the 16th of November, from 8.30 to 10.00 am. 🗓️ Navigating the maze of regulatory requirements is tough. But what's even more challenging? Building a constructive relationship with both the FCA and PRA. 🤝 This session, led by Aris Asimakis, Chief Risk Officer at Cashplus Bank, aims to offer solutions for just that. Ready to deepen your understanding of regulatory relationships? Space is limited, so act quickly. Contact Michelle Khan or Mahian Rab to RSVP. ⏳ What have been your key challenges in regulatory compliance? 🤔 We'd love to hear your thoughts. #RegulatoryCompliance #RiskManagement #FCA #PRA #InterQuestGroup

Kleos: This goes to show again the importance of an effective Compliance function. Here at Kleos, we are adept at recruiting top notch Compliance and Governance experts that can help to minimize such risk exposure. #Compliance #Risk #Governance

Looking at what’s ahead for the finance sector in 2024 in our Reputational Risk Radar, James Borley, managing director of payments services at Cosegic said: “Consumer Duty will continue to be a key focus. Last year was about firms building their response and frameworks but we’ve yet to hear the feedback from the FCA in terms of implementation and whether they feel firms have hit the mark.” Read our 'Spotlight on Finance' feature within the report and find out more about opportunities for strengthening brand reputation and customer trust: https://lnkd.in/eukFwmbJ #ReputationalRiskRadar #Finance #BuildingCustomerTrust 

Banks must urgently rethink their approach to risk culture to prevent further Credit Suisse-style collapses, according to a February report published by the Association of Certified Chartered Accountants, a global professional accountancy body. The report — Risk cultures in banking: Where next? — reveals that current behaviours, particularly a lack of accountability, are major blind spots. The report highlights the role that behavioural science and accountancy professionals have in embedding new approaches to risk culture. #riskcultyrelab #riskcultyre https://lnkd.in/eaJG6HEt

First full day of the American Bankers Association Risk & Compliance conference kicks off today! Kate Phillis, NCCO, NCRM and I will be out with coffee in hand and ready to take notes. 🤓 #abarcc #risk #compliance #fintech #banking

The recent Citigroup internal control debacle underscores the importance of robust, well-designed, and adequate internal controls. The U.K. Financial Conduct Authority and the Bank of England’s Prudential Regulation Authority fined Citigroup a combined £61.6 million, and internal losses added up to a total loss of $126 million. This incident highlights the peril of inadequate controls and offers vital lessons for compliance professionals. Key takeaways include: ◾simplifying and focusing controls, ◾strengthening automated systems, ◾ensuring adequate staffing, ◾implementing consistent global controls and ◾integrating human oversight. Dive deeper into the lessons from this costly error in our latest blog post. Read the full article here: https://bit.ly/4517NDQ. #Compliance #RiskManagement #InternalControls #Finance #Citigroup #LessonsLearned #Banking #CorporateGovernance

Our FIBA AML Conference is coming up. Take a look on this sneak peak shared by our President and CEO David Schwartz #fiba #AML #compliance #financialcrime #FibaAML2024

Changes are coming to the payments industry. In the coming months the industry will be confronted with high levels of risk, intensifying regulatory scrutiny, and significant changes in global standards, especially in key markets. This article from my McKinsey colleagues @Mariah Braxton, @Ismael Hernandez, @Tim Natriello, @Ishanaa Rambachan, @Julian Sevillano, and @Vasiliki Stergiou will help your organization prepare and set up the risk function as a growth enabler. Learn more: https://lnkd.in/gMZ45e6Q #risk #payments #riskmanagement

Changes are coming to the payments industry. In the coming months the industry will be confronted with high levels of risk, intensifying regulatory scrutiny, and significant changes in global standards, especially in key markets. This article from my McKinsey colleagues @Mariah Braxton, @Ismael Hernandez, @Tim Natriello, @Ishanaa Rambachan, @Julian Sevillano, and @Vasiliki Stergiou will help your organization prepare and set up the risk function as a growth enabler. Learn more: https://lnkd.in/ef_C2aVd #risk #payments #riskmanagement

Given the recent focus on strengthening Governance in financial institutions, this article is indeed very timely, pertinent & valuable as it highlights some very important issues relating to Independent Directors. In order to effectively implement the recommendations of the article, the regulators will need to figure out why the existing Independent Directors are not prioritizing the interests of the banks and its stakeholders & honestly challenging the Boards ? Is it because : (i) they do not have the requisite authority or numbers to make a difference; (ii) they do not have the necessary expertise or exposure to challenge the majority shareholder-senior management nexus with their detailed operational understanding of the business; (iii) they are under time pressures as the agenda, information flow & time is controlled by the majority shareholder-senior management nexus; (iv) they are under pressure to conform or concerned about retaliation; (v) they have been baited by the majority shareholder-senior management nexus into positions of Conflict of Interest; (vi) they are lured by the social status of the Board position; or (vii) a combination of all of the above. I hope the regulators take into consideration the above dynamics while re-crafting the laws for strengthening Governance via Independent Directors.