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ERM Boosts Compliance Success

Effective regulatory compliance requires risk and governance procedures to be integrated into processes companywide.

By Steven Minsky | Updated on June 20, 2017

Regulatory compliance is a universal concern across all industries, particularly after the financial crisis of 2007 to 2010, and companies have been devoting more and more resources to compliance solutions.

However, as this year’s political climate shows, changes in leadership can create significant hurdles to regulatory compliance. New priorities and agendas mean the introduction of some new requirements and the rollback of others. Today, the potential rollback of Dodd-Frank is causing many companies to scramble. If Dodd-Frank is repealed, what’s next?

Assessing risks associated with regulatory upheaval is not as simple as just estimating impact and likelihood. The process is complicated by questions about velocity—how quickly a change can materialize and impact the organization. Rollbacks will undoubtedly necessitate adjustments, but when does it make sense to start implementing changes? After all, the rollout of Dodd-Frank requirements took place over the course of years, and unraveling those requirements is not going to happen overnight.

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