Making money at all cost is out, control and regulation are in!

Challenge

Investment banks have been subject to massively increased regulation since the financial crisis. To focus on a few:

  • Personal responsibility: the failure to hold individuals responsible for the financial crisis was a major failing and the regulatory drive is to tie responsibilities to individual managers.
  • Remuneration: the regulatory drive in the EU is to tie remuneration to the medium-term success of the business through capping bonuses, deferring payments and using a mix of stock and cash.
  • Conflicts of Interests: investment banks have paid record fines for failing to manage or disclose their conflicts of interests.

GRC-Maestro gives investment banks the ability to control and manage both the existing and proposed regulatory requirements.

Maestro-Solution

With complex corporate structures, multiple business activities and operations in many jurisdictions, investment banks face a range of regulatory challenges, including:

  • Commercial pressures: the historic norm was to trade first, then figure out the GRC consequences. The pressure now is to cut regulatory risk by avoiding new opportunities. GRC-Maestro gives you quick GRC coverage while developing your internal IT infrastructure.
  • Regulatory change: there remains political pressure increase investment banks regulation. Each new rule has a disproportionate effect on legacy IT systems. GRC-Maestro is a quick and flexible solution.
  • Management liability: managers are being held personally responsible for compliance. It is critical for managers to have the assurance from their team that the business is fully compliant. GRC-Maestro records the information required to give managers regulatory assurance.
  • Communication: in geographically diverse and complex businesses it is hard to ensure all employees know their responsibilities. GRC-Maestro allows you to ensure all new joiners are told exactly what is expected of them and periodically gathers personal attestations of compliance from existing employees.

GRC-Maestro offers investment banks the ability to support new and existing regulations quickly and efficiently and give senior managers the regulatory assurance they need.