Strengthening Governance, Risk and Compliance in the Banking Industry

The EIU finds that an inability to aggregate risks quickly and accurately across an entire bank may lead to a higher level of risk at the enterprise level.


Banks struggle with the difficulty of managing complex financial processes and simultaneously gauging their impact on enterprise risk. Banks also report difficulty managing diverse lines of business and multiple regulatory regimes. However, their greatest concern is the cost of building, connecting and maintaining the processes needed to accomplish enterprise-wide GRC.


Findings include:

  • In addition to yielding an enterprise view of risk, a more rigorous approach to GRC can help bankers comply with internal incentives for better risk management.
  • Bankers paint a rather negative picture of the financial processes that support GRC. Half say there are too many manual processes in their organizations.
  • A majority of bankers say that the biggest benefits of automation to support GRC are eliminating errors due to manual processes and enhancing data integrity.
  • upfront investment remains a significant barrier: Six in ten bankers cite upfront costs as one of the top two obstacles to the investment.

Download Now


Suggested Articles

Some of you might have already been aware of the news that Questex—with the aim to focus on event business—will shut down permanently all media brands in Asia…

Some advice for transitioning into an advisory role

Global risks are intensifying but the collective will to tackle them appears to be lacking. Check out this report for areas of concern