In the midst of increasing regulations, uncertain economic outlook and being faced with a once in a century global crisis, Risk Management in the Financial Services industry has never been more challenging. Existing systems, processes and operating models for risk management are being stretched to their limits. In addition, upcoming regulatory changes such as BASEL IV is putting further pressure on financial institutions to prepare for transition while dealing with the crisis that is still unfolding.

 

In a crisis like this, most organisations are going to be faced with significant challenges in keeping up with the changes driven by external forces beyond their control. Organisations must address these 4 major hurdles that are likely to get in the way of maintaining an effective & efficient risk management function in the post COVID-19 era: