Client
challenges

EY RCM addresses several challenges that financial
institutions, particularly banks, are facing in the current
regulatory landscape:

Complexity and
volume of regulations

Challenge

Firms are dealing with an expanding inventory of regulations
that are increasing in both scope and granularity. Keeping
track of regulations can be complex and overwhelming.

Solution

Access a live, up to date inventory of applicable laws, rules
and regulations, broken down into actionable parts, with
simple plain-English summaries of underlying obligations.

Rapidly evolving
regulatory environment

Challenge

The pace at which new regulations are introduced or existing
ones are amended is unprecedented across the world.

Solution

EY RCM’s automated horizon scanning helps firms stay on top of these changes, with advanced notice and alerting.

Risk-based
compliance

Challenge

Firms face difficulties in recognizing priority areas that need immediate focus.

Solution

EY RCM can support the prioritization of the most important
areas for managing risk. It can also be customized to fit
the specific laws of the jurisdiction, types of products or services.

Technological
advancements

Challenge

Firms are exploring and implementing AI and other
intelligent technologies while also operating multiple tools,
adding complexity to risk management and controls.

Solution

EY RCM seamlessly integrates AI and other tech advancements, as well as a firm’s own governance, risk and compliance systems to provide a broader view.

Global
operations

Challenge

Firms operating across multiple jurisdictions must comply with varied regulations.

Solution

EY RCM helps manage this complexity by standardizing requirements
across multiple jurisdictions, offering a customized view of applicable
laws, rules and regulations based upon the firm’s business model.

Operational
efficiency

Challenge

Operating models in many firms are fragmented, leading to inconsistencies and lower quality mapping.

Solution

EY RCM will automate and streamline compliance processes,
helping firms to rely less on manual, people-intensive
models, improving efficiency and reducing errors.

Regulatory risk
management

Challenge

Operational and regulatory risks often lack a consistent and connected taxonomy, creating gaps in displaying the end-to-end risk profile.

Solution

EY RCM enhances the ability to map, track and manage risk frameworks to provide a detailed view of a firm’s
overall compliance position.

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