Regulators have focused on risk assessments at financial service organizations for some time, but signs suggest their expectations might be changing. The typical, high-level assessment that has passed muster for a while now. However, this might not be enough to satisfy regulators going forward, as they want a more detailed risk assessment. This can be a tough pill to swallow for complex organizations since they could face issues such as decreased profitability and a lack of barriers to entry for competitors.
Download our article to learn more about these regulatory changes and challenges.
Regulators expect more in today’s risk assessment
Regulators now expect more detailed risk assessment approaches from organizations. Here are some key facts you need to know:
- Regulators seem to be reconsidering the high-level approach for organizations with $10 billion in assets. Regulators believe these organizations have many risks that go unnoticed in a high-level approach.
- Scrutiny becomes even more detailed as individual products and services differentiate the lines of business.
- The cost of regulatory risk assessment could increase for organizations if a more detailed regulatory risk assessment is implemented.
Avoid regulatory risk assessment headaches with Crowe
Don’t wait to adapt to these new potential regulatory risk assessment policies. Let Crowe assist you through this process. Our specialists offer decades of expertise to help your organization create more detailed risk assessment policies to satisfy regulators.
Learn more about Crowe risk assessment services today.
