Compliance professionals in the British banking world are bracing for “incredible pressure” in 2015 as their employers implement new rules that will make senior executives personally accountable to regulators for their actions.
Compliance functions will have to play a leading role in setting up and monitoring the new Senior Managers Regime and Certification Regime—described as a “logistical nightmare” by one observer. They’re also likely to find their own behavior directly regulated under the new rules, with regulators taking more interest in the work they do and whether they are personally up to the job.
