SSA & Company’s John Rodgers and Sachin Sachdeva contributed an article, “Best Practices for Operational Compliance Transformation” to International Banker today. With stricter regulations, banks and other financial services companies have resources to compliance teams to signal to regulators that the organization is compliant with all laws. But these investments are usually met with budget cuts to operations groups and many companies have struggled to find a balance.
In the article, John and Sachin personal home loans suggest that through leveraging both operational improvements and data analytics and technology solutions companies can create more efficient, effective organizations and reduce regulatory risk. Specifically, the authors suggest: driving collaboration across compliance and implementation groups (Ops-Tech), investing in implementation groups, tapping the potential of advanced analytics and new technologies to improve operations and reduce costs, and leveraging external partnerships to drive efficiency and competitive advantage.
To meet regulatory direct loans online demands, “firms must direct resources not only toward Compliance teams but also toward Operations and Technology teams. Investing in these secured bad credit personal loan implementation teams, as well as analytics tools and advanced technologies to support their activities, will allow Operations groups to effectively implement regulatory guidance and continuously improve risk controls.”
Read the full piece here.
John Rodgers is Senior Managing Director and Chief Operating Officer at SSA & Company.
Sachin Sachdeva is Vice President housing loans india at SSA & Company.