Managing Change in the Financial Services and Insurance Industries
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Finance and insurance organizations are operating in a period of unprecedented change, delivering services against the background of constantly shifting goalposts. From managing growth and coping with reorganizations, divestments, and acquisitions to dealing with new markets, accounting regulations, and compliance laws, financial executives in these industries face a host of challenges—irrespective of whether the global economy is in recovery or decline.
Compliance issues are especially trying. A succession of regulatory changes like Basel 2, Solvency 11, Dodd Frank, the Financial Corrupt Practices Act, and a swathe of new international accounting standards such as IFRS Insurance Phase 11, suggest that finance executives will have their hands full for another four years, simply to accommodate changes already in the pipeline. |
