Global Regulatory Update

Jan Bellens, a partner and Global Banking & Capital Markets Sector Leader at EY in New York, and Martin Boer of the IIF discuss the relatively new concept of “Operational Resilience”.

Merlina Manocaran and Soumya Banerjee of McKinsey & Company spoke with Martin Boer of the Institute of International Finance to discuss the key findings of our joint IIF/McKinsey survey and research project on cyber resilience and how financial firms are enabling and strengthening their overall cyber resilience.

In this episode, Mark Watson and Thomas Campanile of EY sits down with Martin Boer of the IIF to discuss the main findings and strategic implications of the 10th Annual IIF/EY Global Bank Risk Management Survey. For 10 years, the IIF and EY have been observing and reporting on changes in how banks manage risk. This latest survey highlights that risk leaders and their teams have also been pursuing approaches to new, or newly emphasized, nonfinancial risks, including cyber risk, conduct, compliance and fraud, and financial crime and money-laundering. Mark and Martin also discuss how the industry’s transition to more digital strategies, business models and operations is creating new risks and opportunities, such as those associated with industrializing the use of machine learning and artificial intelligence across the enterprise, or using cloud across swaths of bank operations. Beyond all these challenges, several tectonic shifts, such as those associated with climate change and geopolitics, will impact banking far more than they have in the past.

During the 2019 IIF Annual Membership Meeting, Tom Wilson, CRO of Allianz and Chair of the Insurance Regulatory Committee, shares his insights on current global insurance regulatory issues as well as the transformation of the insurance business model, including through the growth of InsurTech solutions.

This IIF Insurance Regulatory Podcast features Jonathan Dixon, Secretary General of the International Association of Insurance Supervisors (IAIS), in conversation with Mary Frances Monroe, IIF Insurance Lead, on the new IAIS strategic plan and agenda. The discussion includes the Insurance Capital Standard and Holistic Framework for Systemic Risk in the Insurance Sector, as well as emerging challenges and opportunities for the insurance sector.

Debra Stone, Managing Director and Head of Corporate Regulatory Affairs at JPMorgan Chase and Wilson Ervin, Vice Chairman in the Group Executive Office at Credit Suisse, spoke with the Institute of International Finance about the growing problem of financial market fragmentation, why it is important and what policy-makers and the financial sector can do to address this problem. In the podcast, the discussion also addresses recent initiatives by the Financial Stability Board, the International Organization of Securities Commissions (IOSCO), as well as by the IIF, around this issue.

GRU : Global Regulatory Developments around Recovery and Resolution by Institute of International Finance

Financial Stability Board (FSB) Secretary-General Dietrich Domanski joins the IIF GRU. Dietrich discusses the Board’s workplan for 2019, as well emerging policy issues in the digital space. Dietrich outlines the four key areas of focus for the FSB going forward: addressing new and emerging vulnerabilities in the financial system, finalizing and operationalizing post-crisis reforms, implementing and evaluating the effects of the reforms adopted over the past 10 years. Similarly, he comments on the recent report on Fintech and Financial Sector Structure and its main findings regarding BigTechs inroads into finance.