In terms of the compliance challenges that will be central to financial institution compliance officers in 2022, evidence shows that they will play a key role in addressing risk. A new report, „Compliance Priorities for 2022 in the Financial Services Industry,“ from Protiviti identified several compliance priorities. These fall into three categories: the broader risk mandate, traditional compliance issues and the impact on the compliance department.
For example, one priority for 2022 is environmental, social and governance (ESG). Thus, ESG touches various areas of a financial institution such as strategy, sustainable lending and corporate governance. It will be highly important in 2022 in coordinating a growing and potentially conflicting multinational framework of regulations and laws.
Other risks are e.g. cybersecurity, cloud, operational resilience or crypto.
Want to learn more? You can find the report here.