Author: David Schwartz J.D. CPA
According to a June survey conducted by KPMG LLP, enterprise risk management processes of many major financial services firms are surprisingly manual - perhaps dangerously so. The survey results are somewhat unexpected given that the financial services industry is one of the most technologically sophisticated, complex, and heavily regulated industries there is. Of the financial firms responding to the survey, 47% relied primarily on manual processes across their organizations to manage enterprise risk and compliance.