By Chris Roberts | 29 May 2024
With a growing level of scrutiny coming from European Regulatory bodies about the quality of data reporting, firms would be wise to consider the extent to which their Control Framework is effective.
But what constitutes a “control framework”? What elements should a firm consider when designing and operating its processes and procedures? And why is it an investment priority? Firstly, having an effective control framework means a firm is putting the best form of defence in place. Defence against breaching regulation.
Defending itself from all manner of operational and reputational risk and helping to ensure the best levels of client service. The team that operates the control framework is often not the team that gets the “glory”, but plays an essential part in any firm’s day-to-day operating model.
Being regarded as a source of safety and reliability for customers and their data must be the target. As Sir Alex Ferguson, the legendary manager of Manchester United, said “Attack wins you games, defence wins you titles.” READ MORE
