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By KPMG - Streamlining to Create Value: The Future of Compliance
Organizations want to stay on the positive side of regulatory, compliance and ethical risk while increasingly looking at how best to bridge business and compliance objectives. As such, the promise of artificial intelligence and automation gives rise to hopes of reducing and optimizing operational and compliance spend. While regulatory technology (RegTech) has great value across industries and is gradually being adopted, organizations must first reassess their core processes and controls in order to drive more streamlined governance while enhancing risk management and mitigation. Whether called convergence, integration, transformation or optimization, all firms should look to three core elements in this process: redesign skills and roles; align risk and controls; and consolidate testing, surveillance and investigations. Click here to access: Streamlining to Create Value - The Future of Compliance.