Against a background of heightened risk, market and regulatory pressures, financial services organizations are attempting to stay competitive, continue to grow and enhance value to shareholders.
The needs and expectations of customers are ever increasing as personal wealth and the desire for accessible and personalized financial products and services are pushing financial services organizations to expand their offerings. Competitive pressures are tightening industry margins and forcing companies to cut costs while increasing the quality of customer choice and service. Risks mount as products become more complex, organizations more diverse and the business environment more uncertain. All this in a time where public and government pressure for improved governance, transparency and accountability are forcing increased regulatory requirements especially in the area of risk management.