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Future-proofing financial services: insight report for board directors

New technology, regulatory developments and societal changes, including those linked to strengthening stakeholder engagement, are substantially impacting financial services as well as the rest of the business community. For businesses to succeed in this fast-changing environment they must be led effectively by their boards and successful in seizing opportunities and managing the risks confronting them.

Financial services firms are facing an unprecedented raft of challenges. Since the financial crisis, a new regulatory environment has forced a revamp of the responsibilities of boards, pushing functions such as risk and compliance to the top of the corporate agenda. At the same time, rules designed to make institutions safer means they must hold more equity capital, driving up their cost of funding.

Mazars has partnered with Board Agenda to examine the key challenges and considerations for boards and how they need to respond and adapt to remain effective in our special report Future-proofing financial services.

This special report offers a number of insights designed to guide and equip boards to deal with the key challenges currently facing the financial services industry. Each insight provides a concise overview of the key issues to be tackled, covering six main elements:

  • Enabling effective boards in financial services
  • Sustainable, long-term business planning
  • Managing opportunities and risks in a fast-changing world
  • Communication, information flow and effective decision making
  • Effective oversight of regulation and compliance
  • The board’s role and the impact of technology in financial services

Future-proofing financial services offers thought-provoking insight and commentary from Mazars’ experts.

Click here to access the full report.

Michael Tripp

Partner - Financial Services

Michael is an actuary with over 35 years experience in the insurance industry gained both as a senior executive and a consultant. From 2007 to 2013, he was Group CEO of Ecclesiastical Insurance, and before that a partner with E&Y and Watson Wyatt. In the 1990s he led GRE’s UK Personal lines business and in the 1980s its Strategic Planning activity. He Chaired Ecclesiastical Life Ltd and was a Board member of Ecclesiastical Asset Management. His main experience is strategic leadership of insurance operations, and he has a particular interest in ERM/Operational Risk. Currently Deputy Chair of the Actuarial Profession’s General Insurance Board his focus now is to make sure all aspects of the actuarial contribution (e.g. pricing, underwriting, reserving, capital and risk management) contribute effectively to the governance, running and strategic development of insurance enterprises.

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