November 20156Copyright © 2015 Valley Media Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.NOVEMBER - 2015Mailing AddressValley Media Inc.44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510.402.1463, F:510-894-8405 November - 2015, volume 01-09 Published by Valley Media Inc. To subscribe to Banking CIO OutlookVisit www.bankingciooutlook.com Editorial StaffSalesT:510.556.2627RISK AND COMPLIANCE SPECIALAaron Pierce Alex D'SouzaAva GarciaAlwyn Thomasalwyn@bankingciooutlook.comVisualizerMatt RyderManaging EditorJames RobertsonJenna VegasSarah Fernandes Urmi SenguptaVian IsaacIn an age of heightened and evolving regulatory expectations, financial institutions are required to more than just comply with regulations--they need the flexibility to respond quickly and effectively to future regulatory developments. Irrespective of its size, banks and financial services organizations are now more concerned than ever about risk and compliance management. Of late, the banking landscape has been facing unprecedented changes and challenges, resulting in a slew of compliance regulations. Many multi-billion-dollar fines levied on global banks for compliance breaches and control failures could have been averted if effective risk and compliance management systems were in place. This has forced the banks to take a fresh look at their compliance practices and the supporting technology infrastructure.As new streams of regulations escalate the complexity, banks that respond quickly and decisively will have the upper hand. They need to forgo managing compliance issues on an ad hoc basis and foster a culture of compliance. Additionally, automation has emerged as key to boosting profitability in the wake of these new challenges. Despite seeming to be expensive initially, automation is a cost saver if banks look at the bigger picture. When choosing an automation solution, banks can either piece together various piecemeal programs or opt for a holistic solution. More often than not, a holistic solution that is inclusive of every employee playing a role in compliance--from the board to the teller--and transitioning from compliance as a project to compliance as a process, is the secret to saving significant cost and risk.In spite of all that we know today, 2016 might bring a few surprises of its own. With the banks already under pressure to effectively manage compliance, they must be equipped well enough to adapt to a regulatory environment that is prone to constant change. To assist financial institutions in this endeavor, we are featuring companies that deliver state-of-the-art systems and solutions that leverage technologies like cloud and analytics. We hope this edition will prove to be valuable in your efforts to meet the heightened regulatory expectations and pursue a broad range of compliance and risk initiatives across the organization.Let us know your thoughts.EditorialThe Changing Face of RiskJames RobertsonManaging Editor editor@bankingciooutlook.com
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