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.
9 mins 4 secs
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