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The Changing Role of Compliance

Increased regulatory pressure and operational complexity have created a need for a new approach to compliance.

Accenture is not and will not be deemed to be providing the Client with any legal, regulatory or financial advice as part of Accenture’s performance of the Services, production of the Deliverables and/or content in this presentation and Accenture shall have no liability resulting from such matters.

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The Changing Role of Compliance

  1. 1. Increased regulatory pressure and operational complexity have created a need for a new approach to compliance THECHANGING ROLEOF COMPLIANCE
  2. 2. Increasing regulatory pressure and operational complexity are materially impacting Financial Institutions’ ability to ensure compliance. Price of compliance
  3. 3. Resulting in increasing fines… $342B In conduct fines issued by regulators in US and Europe between 2009 and 2017. They are expected to be $400B by end of 2020.
  4. 4. ... and spend on compliance- related activities 10% of global revenue2 is the amount regulatory costs are expected to be by 2021 (up from 4%), driven primarily by the sheer volume of regulations – each week sees an average of 45 new regulatory- related documents issued. +$270B1 Estimated industry spend on compliance- related activities.
  5. 5. Traditional approaches to compliance NO longer work. To reach compliance 2.0, a new generation of compliance officer is needed to lead the charge.
  6. 6. But there are challenges to getting there…
  7. 7. Challenge #1 Operating Model needs to be agile and cost- efficient. of organizations cited significant Compliance Cost Reduction Targets in 2019 72%
  8. 8. Challenge #2 New digital technologies can identify risks and bad actors earlier. But compliance leaders need help integrating them into the compliance function. of organizations said that data quality issues and lack of standardization are key barriers hindering their organization 31%
  9. 9. Challenge #3 Attracting and keeping future ready finance talent to support the evolving compliance function. of organizations face a level of unmanaged employee attrition that is above expectation 50% of organizations reported a major gap between skills required and skills currently available 76%
  10. 10. We offer intelligent solutions powered by SynOps and a smart partnership ecosystem to address these challenges Business outcomes
  11. 11. Take a closer look… Compliance Financial Crime Conduct Regulatory Strategy Legal Technology & Security Data Advisory & Transformation Client Lifecycle Management/ KYC AML/ Transaction Monitoring & Alerts Compliance/ Controls Testing Privacy Data Management Contract Lifecycle Management (for example transitioning from LIBOR) Managed Services Outreach Campaigns – for example: Regulatory Change, Policy, Brexit, GDPR, etc. Regulatory Response Services Operating Model Digital Tech Expert Talent
  12. 12. Business outcomes we can help you achieve
  13. 13. Improved customer experience 100% reviews completed on time 95% quality 20%–40% efficiency improvement 40%–60% cost reduction We Help Achieve Compliance
  14. 14. Reduced risk of fines or reputational damage We Help Manage Risk Improved relationships with regulators and trust with key stakeholders
  15. 15. Global, standardized, optimized, transparent and compliant operations that free valuable resources to focus on achieving strategic objectives We Help Drive Strategic Growth
  16. 16. Now is the time to lead the charge to compliance 2.0 Learn more at: