Thinking strategically about compliance 0

Posted on 1, February 2013

in Category bsg insight

Compliance related fines totalled more than $3.5bn in 2012. Financial sector compliance has moved from the business pages to the front page. LIBOR, regulations, capital adequacy, anti- money laundering and other industry terms are becoming discussed as regularly as last week’s football results. We’ve observed in many clients that when people speak about compliance it tends to be reactive – a problem has been identified and it needs to be fixed. Businesses tend not to see compliance in a strategic fashion as it has traditionally been a cost centre that has not contributed to the bottom line. A seismic perception shift needs to occur – compliance needs to be seen as a strategic opportunity.