Monitoring of Culture and Misconduct Risk | FTI Consulting

Revolutionising the Monitoring of Culture and Misconduct Risk and Related Investigations

Forensic & Litigation Consulting | Technology

March 8, 2019

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Intelligent use of modern techniques such as machine learning and predictive technologies enable risk and compliance functions to respond to today’s escalating expectations.

These techniques also create a means to monitor culture and reputational risks, proactively deal with potential breaches, and handle many investigative requirements in-house. The secret is to bring all your key data together and then use this advanced technology to identify and prioritise hot spots. That way, you can make the most of your human expertise to investigate potential problems, and so achieve much more with limited resources.

Compliance and Senior Management Under Pressure

As senior managers are well aware, they are becoming personally accountable for more and more aspects of a financial services business, including matters like organisational culture and conduct. This makes an effective solution to monitoring and evidencing culture more essential than ever. Unfortunately, this need comes at a time when the regulatory environment is also getting more complex, while the business climate means that senior management, and particularly compliance functions, are often expected to handle the additional challenges without many extra resources. Since external resources can be expensive, it is important to create sustainable solutions to do much of the work in-house. At the same time, financial services businesses face an ongoing regulatory requirement to monitor conduct risk and other compliance-related risks.

Recognising these escalating–and sometimes conflicting–demands, many organisations have introduced a range of technologies to assist with identifying potential issues, and to establish proportionate monitoring over specific areas of the business.

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