New technology, regulatory developments and societal changes, including those linked to strengthening stakeholder engagement, are substantially impacting financial services as well as the rest of the business community. For businesses to succeed in this fast-changing environment they must be led effectively by their boards and successful in seizing opportunities and managing the risks confronting them.
Financial services firms are facing an unprecedented raft of challenges. Since the financial crisis, a new regulatory environment has forced a revamp of the responsibilities of boards, pushing functions such as risk and compliance to the top of the corporate agenda. At the same time, rules designed to make institutions safer means they must hold more equity capital, driving up their cost of funding.
Mazars has partnered with Board Agenda to examine the key challenges and considerations for boards and how they need to respond and adapt to remain effective in our special report Future-proofing financial services.
This special report offers a number of insights designed to guide and equip boards to deal with the key challenges currently facing the financial services industry. Each insight provides a concise overview of the key issues to be tackled, covering six main elements:
- Enabling effective boards in financial services
- Sustainable, long-term business planning
- Managing opportunities and risks in a fast-changing world
- Communication, information flow and effective decision making
- Effective oversight of regulation and compliance
- The board’s role and the impact of technology in financial services
Future-proofing financial services offers thought-provoking insight and commentary from Mazars’ experts: Anthony Carey – Head of Board Practice, Michael Tripp – Insurance Partner and Dan Mellows – Risk and Assurance Director. Please feel free to contact them to discuss any of the points raised.