With many different changes in the banking regulatory environment globally, regulatory reform and governance have become some of the hottest topics in banking and the accountancy market.
Across every form of media, we have heard about how banking operating models are under pressure globally. UK Chancellor, George Osborne, recently pledged to “reset” Britain’s banking system warning that banks will be broken up if they ignore orders to ring fence their investment and retail banking divisions.
In response to this, our Finance recruitment team in Singapore, held a Finance & Accounting Breakfast Seminar for clients across the banking community on November 22nd 2013 at the Fullerton Hotel. This breakfast seminar was arranged to bring like minded individuals together and to discuss the potential impact on operating models of banks that regulatory changes could have.
We were delighted to partner with KPMG for this highly successful event, and to have Gary Chia, Partner and Head of Financial Services Regulatory Compliance as our guest speaker.
We were joined by over 30 banking CFOs, Auditors, and Heads of Regulatory Finance Departments all of whom had the opportunity to listen and offer their opinion on the vast changes that are being made and changes yet to come. With over 15 years experience working in Financial Services, Gary Chia also has a wealth of experience working in regulatory compliance and was able to offer examples of his experience coupled with advice on how to manage the upcoming changes.
Certainly, this is still a time fraught with uncertainties which is a big challenge for banks. And whilst the ‘first wave’ of regulatory reform came immediately after the credit crisis of 2008, we now see a focus on the second wave of reform and its impending implementation, with perhaps a third wave to come - Basel 4? Who knows what will happen next.
To see the photos from our breakfast seminar head over to our flickr page. Want to know what it’s like to work in Singapore? Then click here to go to our ‘Locations’ page here on the careers site or go to our Glassdoor page.