Whilst leading institutions in Europe and US are looking to upgrade their control frameworks, many are hampered by large existing incumbent control functions and new upcoming functions as a result of the recent wave of regulatory requirements. In contrast, many institutions in Asia and other emerging economies typically start from a low base and hence have greater scope for a more drastic re-development of their control functions.
Key areas that institutions are looking to simplify & optimise their control frameworks include:
- Aligning scope & mandate
- Aligning methodologies & processes
- Consolidated MI & actionable reporting
- Coordination of people & infrastructure
Christian Pedersen – Partner and Head of Finance & Risk Practice, Asia Pacific Region
Cheah Wei Ying – Manager in the Asia Pacific Finance & Risk Practice