3 MINUTE READ: Top 5 challenges for compliance managers in fund management in 2018

Helen Dann
Helen Dann
24 January 2018 15:44:34 GMT

With 2018 fully underway, the team at RequirementONE looked at the key challenges buy-side compliance manangers will face this year. Here are the Top 5

1. Reporting

Which reporting do I need to file? When do I need to file them? How often do I have to keep filing them? When will I have to file them next? What are the penalties for missed deadlines? How can I manage all of this more easily?

2. Regulatory uncertainty

This time last year we knew 2017 was going to be a year of structural change within the compliance space for financial firms. With no roll-back of post-crisis regulation, 2018 promises to be the same. Together with the implementation of current regulation and changes to the scope of proposed regulations, the impact on firms’ internal projects will remain tricky to manage. From MiFid to GDRP, the goals remain the same, the execution is still uncertain for many. Naturally, the burden falls harder on smaller managers who don’t have swathes of compliance professionals supporting them.

3. Transparency and internal change

Whilst the tenets of governance, risk and compliance (GRC) are well known and (mostly) well understood, firms’ likely challenge will be internal change and transparency. Bringing together disparate business areas such as compliance, risk, technology, procurement, data, will continue to prove tricky with many firms using outdated methods of collaboration and cultural resistance to change. Reporting on these topics will, therefore, continue to be inefficient and costly.

4. The biggies are worthy of their own bullet point

MiFID II, PRIIPS, SMCR, EMIR, AML, AIFMD, UCITS, FRTB, GDPR and cybersecurity. No explanation required but as per Point 2, how will firms cope with the constant stream of updates and at what cost?

5. Geopolitical risk

Uncertainties surrounding Brexit in Europe, the presidency of Donald Trump in the United States to name but two.

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