The financial crisis and the ensuing tsunami of regulatory change has forced many participants across the financial services sector to take a radically different approach as to how they manage their core businesses.
A tougher regulatory regime against bank capital structures has significantly dented profitability across many, once lucrative, business lines whilst the knock on effect through the value chain has ensured that the buy-side are not immune to these problems either.
Consequently, firms are being forced to take a holistic view as to how they manage their core businesses and the term ‘enterprise‘ is becoming an important word for banks and fund managers alike as they deploy strategic measures to reduce costs.
We talk about managing enterprise valuation across a firm, we use enterprise risk management as a means to reducing a firm’s overall risk exposures and we use enterprise collateral management as a means to optimising a firm’s collateral needs.
But how many people are thinking about enterprise regulatory change, about how we should implement regulations across the enterprise, or is it even possible to manage an enterprise-wide change programme for regulations in the first place?
In the second part of this three part blog, I will look at the implementation models for enterprise regulatory change and what this means at the programme level.
Reblogged this on The OTC Space and commented:
I am interested to see Part 2 of this article develop and suggest ways to drive change across an enterprise – something which EMIR has shown to be a tough challenge.