Rizwan Nazir

The regulatory push towards integrated digital incident reporting is pushing many firms to look again and automate their incident capture and reporting processes. This article is a great deep dive into the trends and areas to focus on, particularly for UK regulated entities. https://lnkd.in/eYMZpCAz

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It's Fraud Awareness week, and so many of the risks and preventative controls are measures that align to the Cyber world too. Fraud is no longer limited to obvious red flags; it now permeates digital environments, organisational behaviours and complex financial frameworks.   Organisations need to go beyond detection and take proactive steps to understand risks, strengthen controls and educate employees. My FTI Consulting colleague Natalie Faulkner outlines three key tips you can use to prevent and respond to evolving fraud risks. Learn more: https://lnkd.in/g6T2tvAF #FraudAwarenessWeek #RiskManagement #FraudPrevention

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In our latest blog, "Compliance or Collapse: Why UK Businesses Must Move Governance Beyond Spreadsheets," I outline why a modern approach to governance and risk management can move from a bureaucratic headache to a core strategic asset.  https://lnkd.in/eYB63dGs

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Explore how CROs can enable responsible use of AI by understanding how the technology fits into existing risk and regulatory frameworks. https://pwc.to/4pXIOu3

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Following on from the success of our webinar on the recent 'fleet' of Omnibus simplification packages proposed by the EU, and due to phenomenal demand from our customers, our team of senior regulatory experts at Compliance & Risks - Michelle Walsh, Hannah Janknecht, Ani Nozadze and Valentina Marchetti - have pulled together a 'must have' guide summarising the key themes proposed by these packages, including questions and answers from the webinar itself. https://lnkd.in/dvNb8E7D #OmnibusSimplification #EURegulation #ESG #Sustainability #ProductCompliance

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The FCA’s scrutiny of outcomes monitoring will only intensify, making it imperative for firms to act now to ensure compliance and consumer protection. Delaying, or waiting to see what others do, will have a significant impact on an organisation's long-term success. FTI Consulting’s Financial Services experts, Imran Ahmad and Samuel Haskins, explore challenges in monitoring customer outcomes and the use of data and technology in the financial services industry.

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The latest version of our Risk and Reg Edit is now available. Find it - and subscribe - below. In this version, I have contributed to musings on the probability and would-be effects of potential de-regulation in Financial Services in the UK and EU in the wake of both American signals and the Draghi report on European competitiveness. If massive de-regulation does indeed come (which seems unlikely) it would mean a massive change for CROs and their teams across FS institutes all over Europe since risk management would to a lesser extent be mandated through regulation. To quote the Edit: "For CROs, every possible regulatory scenario will bring its challenges. Wholesale reductions in regulation may be unlikely, but each alteration will create some costs, and innovation initiatives to test firms’ capabilities. CROs need to position themselves as enablers of responsible innovation." And as sense-makers, I might add here, since risk management activities will need much stronger business cases if the "we-have-to-argument" falls away. Will be interesting to see how it all pans out over the next years.

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Tariq Ghadie has written a very insightful piece on diversity of thought in CRO roles that resonates strongly with what I’m seeing in the Australian market. His central observation hits home: regulators are unintentionally blocking cognitive diversity in second line roles. As Ghadie notes, they “have little incentive to take a risk-based approach, opting for the safer conservative option as their default.” The parallel between UK and Australian markets is particularly striking. Both introduced accountability regimes following major conduct failures (the UK financial crisis, Australia’s Royal Commission). Both were designed to drive strategic, commercially minded risk leaders. Yet approval processes in both jurisdictions often reward traditional career paths over broader perspectives. Ghadie’s success story of appointing a Chief Controls Officer with operations, technology and finance experience into a CCO role, despite no second line background, mirrors the talent pathway Australian institutions need to embrace more systematically. Her “affinity with the business” created a credible CRO successor in a way career compliance officers often cannot. His emphasis on “intellectual restlessness - the ability to anticipate and explore emerging vulnerabilities before they crystallise” captures what distinguishes effective modern CROs from technical risk managers. My own experience establishing customer remediation programmes and leading controls uplift at Big Four Banks in Australia required exactly this combination of first line business understanding with risk capability. As Ghadie concludes, “the CRO position is attracting high-calibre, non-traditional candidates alongside established top performers. Together, these talent pools are raising the bar.” Both UK and Australian markets need to embrace this future more fully. #RiskManagement #Leadership #FinancialServices #Diversity

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Please join me and my distinguished colleagues for a chat about ethics in business!

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Here's the latest summer essential read from #PAConsulting on all things Risk and Regulation with insights from our experts spanning agentic AI risks, quantum computing regulation, cyber security and financial crime prevention approaches and the emerging regulatory environment for stablecoins.

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I have to agree with John Farley quoted in the latest Gallagher report on #AIRisk: "AI liabilities aren't simple data breaches; they're a black box of algorithmic risk where traditional breach response approaches fall short. Managing these legal, operational and reputational exposures requires a multidisciplinary approach that addresses bias and blends oversight with data integration." #AIRisk

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Reducing the Cost of Compliance report Developed in collaboration with TheCityUK, we interviewed 19 Chief Compliance Officers and leading compliance professionals across UK financial services firms to better understand the true cost of compliance. The report brings together perspectives from UK regulators and from the industry, setting out a framework to describe the total cost of compliance and providing tangible recommendations for both firms and regulators. #compliance #regulation #pwc

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Term 34 of 100: Control Illusion (Observed globally in governance and risk assessments.) Control Illusion is believing systems are in control because dashboards look complete and reports look green. Controls exist. Oversight doesn’t. Board cue: If control is assumed, risk is already active. #RegulatorsLexiconWithMadhavan Disclaimer: Educational insight only. Not investment advice.

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Nice to see this write up from our CEO Ian Spaulding with a shout out to our partnership with the Responsible Business Alliance

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The UK Financial Conduct Authority’s (FCA) evolving stance on motor finance redress signals a fundamental shift in consumer protection. UK Banks and brokers must ask themselves: Are we simply reacting to compliance, or are we embedding long-term resilience into our operations? Such as:   • Scalable complaint-handling infrastructure   • AI-driven redress calculation for efficiency & fairness   • Proactive customer outreach, not just reactive resolutions At EXL, we believe this is an opportunity to rethink data, technology, and customer engagement. How are you preparing for what’s ahead? If you want to know how EXL can help your organisation, download our infographic: https://bit.ly/4jqwoaI #BankingInnovation #MotorFinance #RegulatoryCompliance #DataDriven

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