In light of the FSA’s more intrusive approach to supervision, there are signs that they are increasingly using their powers to fine senior management, as well as firms, for weaknesses and deficiencies in corporate governance.
The FSA requires firms to have good corporate governance procedures in relation to all areas of the business. In particular, they expect firms to ensure they pay close attention to risk management – although heightened expectations from stakeholders and exposure to reputational threat should make risk management best practice anyway.
Due to this growing interest in governance and risk, we recently hosted a seminar on 'Risk Management in the Financial Sector', which focussed on:
Moore Stephens compliance consultant Anthony Rawlins examined governance among financial services firms and looked at how the FSA expects firms to be monitoring and controlling their exposure to risk.
Risk management in practice
Robert Noye-Allen, governance, risk and assurance specialist, provided insight into how the effective identification of risk can greater support effective governance and the achievement of objectives from an enterprise-wide perspective. Robert also looked at the common risk areas firms face and how our risk mananagement solutions can help you.
Risk management solutions
Anthony and Robert overviewed a recent case study where Moore Stephens was employed to advise a financial sector firm to document and implement their risk management systems.
View the seminar slides here.