Blog

We discussed BaFin's implementation of the Digital Operational Resilience Act (DORA), focusing on cyber incident reporting in the financial sector. The conversation covered the act's impact, streamlined processes, and BaFin's role in enhancing cybersecurity and regulatory compliance.

The Fundamental Review of the Trading Book (FRTB) by the EBA revolutionizes financial regulation, introducing advanced risk assessment models in the EU. It mandates a holistic approach to market risk, addressing past inefficiencies and demanding stringent compliance from financial institutions.

The conversation focuses on the impact of Capital Requirements Regulation 2 (CRR2) on financial institutions. It discusses the challenges and changes brought by CRR2, including enhanced risk management, compliance requirements and the need for improved resource management and transparency.

Business Continuity Management (BCM) in 2023 integrates Governance, Risk, and Compliance (GRC) for enhanced resilience. The approach combines strategic governance, proactive risk management, and compliance in BCM to adapt to business challenges and disruptions.

The banking sector's future hinges on embracing tech innovations, fintech, and ESG compliance. Success requires adapting to digital transformation and effective talent management. Banks leading this change will define the industry's future.