Source: Accenture, December 2012
Due to the large number of regulations imposed on financial institutions in such a short period of time, consideration should be given to prioritizing each regulation based upon the complexity of its implementation and its business impact (See chart below).
Challenges with Business Implementation and Adoption
In the face of extensive and complex global regulatory reform programs, banks are challenged to help verify that the business thoroughly understands, implements and adopts the required changes resulting from new regulatory requirements.
Challenges faced while implementing strategic goals
Where Accenture can help
To help address the challenges posed by new regulatory requirements across the enterprise, Accenture suggests financial services institutions consider implementing a well-developed Enterprise Project Management Office (PMO) structured along three key functions: resource management, delivery management and business/change readiness.
Business Readiness Mandate
Accenture has the skillset and regulatory experience required to help financial institutions implement a favorable Business Readiness Mandate in order to comply with the on-going demands of regulators. In the charts that follow, we touch on the building blocks for a business readiness program, including a structure and approach.
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