While it is important to manage familiar risks at hand, organisations have to be prepared to handle unknown risks that impact a bank’s overall strategy. For instance, rapidly changing technology may pose unknown risks to a particular sector in a matter of months if not monitored closely. This, according to Evrard Bordier, CEO and managing partner, Bordier & Cie (Singapore), is not to be overlooked when adhering to new regulatory standards.
Participating in a discussion panel at the Asian Wealth Management Forum 2016 hosted by Hubbis, Evrard shared his comments on the topic of regulatory responsibility, detailing the importance of technology in organisational readiness when it comes to dealing with transparency and tax initiatives such as FATCA and CRS.
The panelists discussed a broad range of key questions pertaining to the revised client on-boarding rules and regulations, while espousing on the nature of ethical compliance and the implications Artificial Intelligence would have on wealth management.