Accenture Compliance Risk Study 2017 for Financial Services: Presentation

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COMPLIANCE: DARE TO BE DIFFERENT 2017 COMPLIANCE RISK STUDY EXECUTIVE SUMMARY

Source: Compliance: Dare to be Different – 2017 Compliance Risk Study. Access at: https://www.accenture.com/us-en/insight-compliance-risk-study-2017-financial-services

A NEW PHASE IN THE TRANSFORMATION JOURNEYHaving established its stature, Compliance is facing a newer challenge of sustainability across an expanded set of responsibilities

A COMPLEX RISK ECOSYSTEM DEMANDS CONTINUED INNOVATIONCompliance’s role as both a strategic advisor and a risk assessor continues to be challenged by the diversity of risks to understand, monitor and manage, underscoring the need for Compliance to continue to innovate and advance their capabilities

POWERING UP COMPLIANCECompliance functions are encouraged to invest wisely to deliver sustainable risk management, taking advantage of advances in tools and technologies and equipping the function with the right skills and mastery of emerging regulatory topics

INNOVATORS, INTEGRATORS AND IMPROVERSThe challenge to innovate has identified groupings of Compliance functions that are plotting different paths to their desired end state, with “innovators” gaining leadership positions through investments such as advanced analytics, robotics, or managed services

READY FOR TOMORROW’S COMPLIANCEThe rules of the road for Compliancee have changed, driven by accelerating demands of the digital age – Compliance functions should recognize this shift and enhance their investments to remain relevant to their institutions

https://www.accenture.com/us-en/insight-compliance-risk-study-2017-financial-services?c=fs_regcompsldshr_10000008&n=smc_0317


…COMPLIANCE IS STRUGGLING TO KEEP PACE WITH DIGITAL TRANSFORMATION

COMPLIANCE: DARE TO BE DIFFERENT 2017 COMPLIANCE RISK STUDY KEY INSIGHTS


of institutions project investment in their capabilities to rise over the next two years

characterize their role as a regulatory advisor to their institutions

of institutions currently consider artificial intelligence to be one of the most impactful technologies

DESPITE CONTINUED INVESTMENT IN MAINTAINING THEIR CAPABILITIES…

currently consider robotic process automation to be one of the most impactful technologies

89% 86% 27% 23%



COMPLIANCE: DARE TO BE DIFFERENT 2017 COMPLIANCE RISK STUDYKEY INSIGHTS (CONTINUED)

48% FRAUD AND FINANCIAL CRIME

47% BUSINESS RISK

In our view, a key strategic priority for compliance is to maintain a continued spirit of innovation that sustains capabilities at the level of sophistication needed to manage a more complex risk ecosystem

45% CYBER RISK

THE TOP THREE COMPLIANCE RISKS FACED BY RESPONDENTS WITHIN THE NEXT 12 MONTHS




COMPLIANCE: DARE TO BE DIFFERENT 2017 COMPLIANCE RISK STUDYTHREE PATHS

Establishing leadership positions through a continued focus on new tools and methods to strengthen core risk and control capabilities, extend breadth and depth of coverage and provide the adaptability to deliver against future demands on the function

INNOVATORS INTEGRATORS IMPROVERSSeeking greater efficiency through improved integration of capabilities within compliance as well as integration with other second line of defense functions

Adopting a more watchful stance in their investment to learn from the experience of peers and blend leapfrog investments with spending on more foundational tools




COMPLIANCE: DARE TO BE DIFFERENT 2017 COMPLIANCE RISK STUDYMETHODOLOGY

A global quantitative online survey of bank and insurers in North America, South America, Europe, and Asia-Pacific

Survey was conducted from December 2016 through January 2017 and covered industries within banking, capital markets and insurance

150 respondents were surveyed from 13 different countries

Surveyed respondents: chief compliance officers, director, VP, SVP of compliance, other senior compliance executives

Download the study at:www.accenture.com/ComplianceRiskStudy2017

Headquarters n=150Europe 60North America 35South America 15Asia-Pacific 40





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Accenture Compliance Risk Study 2017 for Financial Services: Presentation

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