Ernst & Young Financial Services Webcast: New Era of Oversight Calls for Rigorous and Robust Compliance Frameworks
In an upcoming May 20 webcast, Ernst & Young's banking leaders discuss the new era of oversight and the compliance challenges that this new regulatory framework brings.
New York, NY (PRWEB) May 19, 2009 -- Financial institutions must be prepared for a changing level of banking supervision and should use it as an opportunity to strengthen regulatory compliance, say leaders from Ernst & Young's global banking practice.
 To highlight how the demands of regulatory compliance are increasing, Ernst & Young is hosting a May 20 Webcast featuring a panel discussion of prevailing bank supervisory trends and how financial institutions can make the most of the opportunities ahead within this new regulatory framework. The webcast will explore how viewing risk management as more than just an exercise to comply with changing regulatory expectations can lead to opportunities to improve governance and more effectively manage risk.
Although the challenges of regulatory compliance are more pronounced for companies that are now subject to a distinctly new regulatory framework, such as newly-minted bank and savings and loan holding companies in the US, the effects of closer supervision are rippling across the entire financial services industry.
"Missteps in this changing environment may delay plans for corporate growth," said Chris Maher of the Financial Services Risk Management practice. "If a company's risk governance and compliance programs are deemed insufficient, regulators may intervene and curtail business plans, including new product launches, mergers and acquisitions, and other business expansion efforts."
Ernst & Young's Banking & Capital Markets Practice Leader, Bill Schlich, also recently discussed issues involved with this new era of oversight, especially for newly-minted bank holding companies, in a video interview, during which he gave his perspective on the state of the banking industry in light of the current financial crisis.
Those interested in the May 20 Webcast can register for free here.
About the Ernst & Young Global Banking & Capital Markets Center
In today's globally competitive and highly regulated environment, managing risk effectively while satisfying an array of divergent stakeholders is a key goal of banks and securities firms. Ernst & Young brings together a worldwide team of professionals to help you achieve your potential -- a team with deep technical experience in providing assurance, tax, transaction and advisory services. The Center works to anticipate market trends, identify the implications and develop points of view on relevant industry issues. Ultimately, it enables us to help you meet your goals and compete more effectively. It's how Ernst & Young makes a difference.
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 135,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential. Visit www.ey.com to learn more. Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
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