Regulatory Client Outreach & The Path To Compliance
At a recent Fenergo industry roundtable event, the topic of Regulatory Client Outreach took front and centre stage during the evening’s discussions.
Given the number of new - and enhancements to existing - regulations planned over the next few years, financial institutions will come under increasing pressure to evidence these compliance obligations by either re-using client data and documentation already held or conducting a fresh collection of data / documents from clients to ensure compliance (or what is known as Regulatory Client Outreach).
In this paper, we explore the core operational and internal challenges that currently make the process of Regulatory Client Outreach a logistical nightmare for financial institutions. We also propose a best practice approach to regulatory client outreach by automating certain aspects of the client management process.
With a strong background in regulatory compliance solutions, Joe has deep banking and regulatory knowledge and maintains currency of knowledge in this ever-evolving industry by taking an active lead in Fenergo’s Client Advisory Boards and industry roundtables and forums.