05/09/2013 PROFILE > Crédit Manager / Gestion des risques

The risk of compliance is the major concern of wealth managers

In 2013, the risk of compliance (i.e. the impact of any error in management which may lead to non compliance with laws and regulations in force) replaced the risk of reputation (i.e. the risk of any error in management on the image of an organisation), as the primary concern of wealth managers. The latters are working to follow the rhythm, speed of application and costs of changes in regulations, both current and future.
According to a report by the PwC auditing and consultancy firm, both risk management criteria, of which the importance is set to increase, are: quantifying risks (+28%) and concentrating on the final value provided to stakeholders (+25%). According to survey participants, risk and compliance with regulations will represent a total of 7% of their annual turnover in the next two years, compared with just 5% today.

Access the press release and the PwC report.