Real-life revolution: How compliance functions are leveraging innovation to become more aligned, efficient and tech-enabled

Shelley Metz-Galloway and Lucy Pearman
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Shelley Metz-Galloway: Managing Director, US Regulatory Compliance Leader, Risk and Compliance, Protiviti, USA
Lucy Pearman: Managing Director and Global Head of Risk Transformation, Protiviti, USA

Journal of Financial Compliance, 2021, vol. 5, issue 2, 154-161

Abstract: Financial institutions are among countless organisations in industries worldwide that are pursuing digital transformation initiatives for the betterment of their business and competitive advantage. Within the financial services industry, second line functions are among the many activities leadership are assessing to achieve greater efficiency and overall effectiveness amid heightened competition in an industry that continues to squeeze costs. Now, more than ever, compliance professionals must be ready to protect their firms. As regulatory scrutiny and compliance requirements increase in both scope and scale, the need for future-oriented, well-aligned, efficient and technology-enabled compliance management systems becomes paramount. Outlined in this article are key areas of focus that are critical to building and implementing an innovative, technologyenabled compliance programme effectively, beginning with the overarching strategy and approach.

Keywords: Compliance innovation; enabling technology; critical success factors; culture and conduct; infrastructure and investment (search for similar items in EconPapers)
JEL-codes: E5 G2 K2 (search for similar items in EconPapers)
Date: 2021
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