What are the biggest risk management challenges for asset managers in 2017?

Compliance officers and IT risk management more important than ever

For many investment firms and other financial services businesses, managing risk and staying compliant with the increase in regulation has become a lot more challenging lately. If the recent rush of consultation papers is anything to go by, things are likely to get worse.

Increased market competition and greater product innovation have introduced greater complexity into the marketplace, with a greater focus on accountability and compliance. Firms in the sector are finding it increasingly difficult to stay abreast of the regulatory and market changes and to stay focused on how things might change in the future. Among the more recent changes, rules affecting the steps firms are taking to assess product suitability are attracting greater regulatory attention and, as products become more complex, it can be more difficult to satisfy controls. For example, i...