Operational Risks to Manage at a Wealth Management Firm II

Operational Risks to Manage at a Wealth Management Firm II

Faisal Sheikh

25 years: Wealth and risk management specialist

In this video, Faisal continues his discussion about the operational risks within wealth management.

In this video, Faisal continues his discussion about the operational risks within wealth management.

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Operational Risks to Manage at a Wealth Management Firm II

9 mins 4 secs

Overview

Other aspects of operational risk that wealth management firms have to manage include the likes of financial crime, regulation compliance and information security. Financial crime is particularly apparent in wealth management given the value of assets the firms hold and the types of clients they deal with. Regulation is constantly being modified and updated, however given the global nature of wealth management, firms have to be aware of both domestic and international regulation changes. Data theft is also a significant risk for wealth managers given the highly sensitive client data they hold.

Key learning objectives:

  • Understand the impact of not monitoring and preventing these risks effectively

  • Outline how financial crime, regulatory compliance and information security impact wealth management firms

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Summary
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Expert
Faisal Sheikh

Faisal Sheikh

Faisal is a wealth management professional has spent almost 30 years working in the field of risk management, risk control, internal auditing in the financial services and public sector. Most recently, Faisal was the Head of Risk for the Wealth Management business of UBS in the UK. He has also extensive international experience across Europe, the Americas, Asia and Africa. He has also a served as CISI operational risk expert panel member.

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