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[(expand existing risk assessment pr)9.8(ocesses so that)]TJ
ET
EMC
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BT
9 0 0 9 343.4239 197.25 Tm
0 Tc
( )Tj
ET
EMC
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BT
9 0 0 9 141.8185 185.25 Tm
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[(the)6.4(y fully incorpor)19.5(ate compliance risk exposur)9.3(e. In)]TJ
ET
EMC
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BT
9 0 0 9 339.6119 185.25 Tm
0 Tc
( )Tj
ET
EMC
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BT
9 0 0 9 141.8185 173.25 Tm
-.005 Tc
[(addition, banks need t)9.8(o)0( adapt or build risk)]TJ
ET
EMC
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BT
9 0 0 9 306.2964 173.25 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 141.8185 161.25 Tm
-.005 Tc
[(assessment fr)19.5(ameworks and methodologies)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 318.0164 161.25 Tm
0 Tc
( )Tj
ET
EMC
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BT
9 0 0 9 141.8185 149.25 Tm
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[(specically t)9.8(o)0( assess compliance risk, whose)]TJ
ET
EMC
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BT
9 0 0 9 320.7094 149.25 Tm
0 Tc
( )Tj
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EMC
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BT
9 0 0 9 141.8185 137.25 Tm
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EMC
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BT
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0 Tc
(\()Tj
ET
EMC
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BT
/F3 1 Tf
9 0 0 9 144.8497 125.25 Tm
-.005 Tc
[(gur)9.3(e 3)]TJ
ET
EMC
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BT
/F1 1 Tf
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[(\). A pr)9.8(oper assessment fr)19.5(amework will)]TJ
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EMC
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BT
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0 Tc
( )Tj
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EMC
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BT
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[(r)9.3(epr)9.3(esent the entir)9.3(e compliance risk landscape)]TJ
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EMC
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BT
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[(and identify and categoriz)7.8(e it int)9.8(o the r)9.3(ele)6.4(v)7.3(ant,)]TJ
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EMC
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BT
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( )Tj
ET
EMC
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BT
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[(adjacent risk domainswhile pr)9.8(oper methodology)]TJ
ET
EMC
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BT
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0 Tc
( )Tj
ET
EMC
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BT
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(will help in assessing the risk. )Tj
ET
EMC
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BT
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ET
EMC
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BT
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0 Tc
( )Tj
ET
EMC
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BT
9 0 0 9 360.1818 471.9964 Tm
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[(not sucient t)9.8(o)0( combat challenges such as mone)6.4(y)]TJ
ET
EMC
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BT
9 0 0 9 561.0422 471.9964 Tm
0 Tc
( )Tj
ET
EMC
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BT
9 0 0 9 360.1818 459.9964 Tm
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ET
EMC
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BT
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0 Tc
( )Tj
ET
EMC
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BT
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[(dedicated, skilled and experienced inv)6.4(estigat)9.8(ors)]TJ
ET
EMC
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BT
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0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
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-.005 Tc
[(who can monit)9.8(or lar)9.3(ge numbers of tr)19.5(ansactions on)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 559.5604 435.9964 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
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-.005 Tc
[(a daily basis and r)9.3(epor)-24.4(t suspicious beha)7.3(vior)60.1(. F)12.7(r)9.8(om)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 557.5851 423.9964 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 360.1818 411.9964 Tm
-.005 Tc
[(2008 t)9.8(o)0( 2018, banks and other nancial institutions)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 562.0225 411.9964 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 360.1818 399.9964 Tm
-.005 Tc
[(wer)9.3(e ned nearly US$27 billion globally for failing t)9.8(o)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 563.7816 399.9964 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 360.1818 387.9964 Tm
-.005 Tc
[(comply with anti-mone)6.4(y laundering \(AML\) and)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 541.6885 387.9964 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 360.1818 375.9964 Tm
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[(know-y)7.3(our-cust)9.8(omer \(KY)14.2(C)12.7(\))0( r)9.3(egulations.)]TJ
ET
EMC
/P <>BDC
BT
5.4 0 0 5.4 514.6157 378.6964 Tm
0 Tc
(2)Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 517.6029 375.9964 Tm
-.005 Tc
( Such)Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 539.5748 375.9964 Tm
0 Tc
( )Tj
ET
EMC
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BT
9 0 0 9 360.1818 363.9964 Tm
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[(compliance risk is dicult t)9.8(o)0( assess with tr)19.5(aditional)]TJ
ET
EMC
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BT
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0 Tc
( )Tj
ET
EMC
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BT
9 0 0 9 360.1818 351.9964 Tm
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[(appr)9.8(oaches. Banks also need t)9.8(o)0( acquir)9.3(e or de)6.4(v)6.4(elop)]TJ
ET
EMC
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BT
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( )Tj
ET
EMC
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BT
9 0 0 9 360.1818 339.9964 Tm
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[(mor)9.3(e sophisticated systems t)9.8(o)0( monit)9.8(or all)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 526.5734 339.9964 Tm
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( )Tj
ET
EMC
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BT
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[(tr)19.5(ansactions. )19.5(T)48.4(ogether)60.1(, inv)6.4(estigation and monit)9.8(oring)]TJ
ET
EMC
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BT
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( )Tj
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EMC
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BT
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ET
EMC
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BT
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( )Tj
ET
EMC
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BT
9 0 0 9 360.1818 303.9964 Tm
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[(tr)19.5(ansactionsfor example, tr)19.5(ansactions t)9.8(o)0( and fr)9.8(om)]TJ
ET
EMC
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BT
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( )Tj
ET
EMC
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BT
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ET
EMC
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BT
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( )Tj
ET
EMC
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BT
9 0 0 9 360.1818 279.9964 Tm
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[(e)6.4(v)7.3(asion or other nancial crime. Without)]TJ
ET
EMC
/P <>BDC
BT
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( )Tj
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EMC
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BT
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[(appr)9.8(opriately tr)19.5(ained and dedicated r)9.3(esour)9.3(ces,)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 542.8763 267.9964 Tm
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( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 360.1818 255.9964 Tm
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[(banks will fail t)9.8(o)0( build the kind of compliance)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 537.3469 255.9964 Tm
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( )Tj
ET
EMC
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BT
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[(competencies and exper)-24.4(t pool needed t)9.8(o)0( addr)9.3(ess)]TJ
ET
EMC
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BT
9 0 0 9 555.1591 243.9964 Tm
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( )Tj
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EMC
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BT
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EMC
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BT
9 0 0 9 535.6439 231.9964 Tm
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( )Tj
ET
EMC
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BT
9 0 0 9 360.1818 219.9964 Tm
-.005 Tc
[(r)9.3(equir)9.3(ements. Banks that establish dedicated)]TJ
ET
EMC
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BT
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( )Tj
ET
EMC
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BT
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EMC
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BT
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EMC
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BT
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EMC
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BT
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ET
EMC
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BT
9 0 0 9 360.1818 171.9964 Tm
[(ecient compliance go)7.3(v)6.4(ernance pr)9.8(ocesses in all)]TJ
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EMC
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BT
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EMC
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BT
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[(oper)19.5(ational geogr)19.5(aphies. )]TJ
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EMC
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/GS3 gs
BT
/F3 1 Tf
11 0 0 11 360.1818 133.9964 Tm
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[(T)43.5(echnology Risk )]TJ
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EMC
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/GS2 gs
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/F1 1 Tf
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[(T)48.4(oda)7.3(y)52.3(,)0( modern technologies tak)9.8(e a lar)9.3(ger r)9.8(ole in the)]TJ
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EMC
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EMC
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BT
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[(nancial industr)-8.8(y)52.3(.)0( )19.5(T)48.4(echnology can aff)11.7(ect high-)]TJ
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EMC
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BT
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EMC
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( )Tj
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EMC
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EMC
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EMC
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( )Tj
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EMC
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EMC
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0 Tc
( )Tj
ET
EMC
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[(oper)19.5(ational and business risk. )]TJ
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EMC
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BT
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-.025 Tc
[(Cybersecurity risk and compliance risk ar)9.3(e closely)]TJ
ET
EMC
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BT
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0 Tc
( )Tj
ET
EMC
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-.025 Tc
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EMC
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( )Tj
ET
EMC
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-.025 Tc
[(between them. F)10.3(or example, the US P)5.4(atriot Act)]TJ
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EMC
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0 Tc
( )Tj
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EMC
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[(r)9.3(equir)9.3(es all US nancial institutions t)9.8(o)0( appoint a)]TJ
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EMC
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[(minimum of two Bank Secr)9.3(ecy Act \(BSA\) contacts,)]TJ
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EMC
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0 Tc
( )Tj
ET
EMC
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-.025 Tc
[(who ar)9.3(e r)9.3(esponsible for r)9.3(epor)-24.4(ting suspicious)]TJ
ET
EMC
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0 Tc
( )Tj
ET
EMC
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[(tr)19.5(ansactions that ma)7.3(y identify mone)6.4(y laundering. On)]TJ
ET
EMC
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BT
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0 Tc
( )Tj
ET
EMC
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-.025 Tc
[(30 Januar)-8.8(y 2019, BSA ocers at some cr)9.3(edit unions)]TJ
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EMC
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0 Tc
( )Tj
ET
EMC
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[(began t)9.8(o)0( r)9.3(eceiv)6.4(e spoof emails that appear)9.3(ed t)9.8(o)0( be)]TJ
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EMC
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( )Tj
ET
EMC
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[(sent fr)9.8(om BSA ocers at other cr)9.3(edit unions.)]TJ
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EMC
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(3)Tj
ET
EMC
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BT
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-.025 Tc
( A PDF)Tj
ET
EMC
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0 Tc
( )Tj
ET
EMC
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-.025 Tc
[(le with links t)9.8(o)0( malicious sites was attached t)9.8(o)0( the)]TJ
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EMC
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BT
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0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
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-.025 Tc
[(emails. )19.5(This attack r)9.3(eects a tar)9.3(geted spear-phishing)]TJ
ET
EMC
/P <>BDC
BT
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0 Tc
( )Tj
ET
EMC
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BT
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-.025 Tc
[(campaigna serious cybersecurity thr)9.3(eat. If the attack)]TJ
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EMC
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BT
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0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 253.5 195.9964 Tm
-.025 Tc
(had been successfulif BSA ocers had opened the)Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 452.603 195.9964 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 253.5 183.9964 Tm
-.025 Tc
[(PDF le, followed its malicious links and ther)9.3(eb)5.4(y)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 434.3694 183.9964 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 253.5 171.9964 Tm
-.025 Tc
[(allowed an attack)9.8(er t)9.8(o)0( br)9.3(each any cr)9.3(edit union)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 426.5803 171.9964 Tm
0 Tc
( )Tj
ET
EMC
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BT
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-.025 Tc
[(system\(s\)it could ha)7.3(v)6.4(e)0( r)9.3(ealiz)7.8(ed both compliance)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 442.6934 159.9964 Tm
0 Tc
( )Tj
ET
EMC
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BT
9 0 0 9 253.5 147.9964 Tm
-.025 Tc
[(and cybersecurity risk, as the br)9.3(each ma)7.3(y ha)7.3(v)6.4(e)]TJ
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EMC
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[(and/or r)9.3(ele)6.4(v)7.3(ant compliance r)9.3(equir)9.3(ements, the r)9.3(esult)]TJ
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EMC
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( )Tj
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EMC
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EMC
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( )Tj
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EMC
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EMC
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( )Tj
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0 Tc
( )Tj
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[(b)5.4(y)0( r)9.3(egulat)9.8(or)-8.8(y authorities? )]TJ
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EMC
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[(These questions not only r)9.3(eect the intersection )]TJ
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EMC
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[(of compliance and cybersecurity)52.3(, the)6.4(y also)]TJ
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EMC
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( )Tj
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EMC
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[(underscor)9.3(e the per)9.3(ennial possibility that)]TJ
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EMC
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( )Tj
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EMC
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[(cybersecurity risk can turn int)9.8(o compliance risk, )]TJ
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EMC
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[(and the)6.4(y can only be answer)9.3(ed b)5.4(y)0( a clearly dened)]TJ
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( )Tj
ET
EMC
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[(compliance risk str)19.5(ategy)52.3(, especially as it informs)]TJ
ET
EMC
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0 Tc
( )Tj
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EMC
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[(cybersecurity ex)9.8(ecution. )]TJ
ET
EMC
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[(Achie)6.4(ving compliance, it should be noted, does not)]TJ
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EMC
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0 Tc
( )Tj
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[(necessarily guar)19.5(antee a secur)9.3(e infr)19.5(astructur)9.3(e;)]TJ
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EMC
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0 Tc
( )Tj
ET
EMC
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-.005 Tc
[(banks t)9.8(oda)7.3(y ar)9.3(e ned for security br)9.3(eaches e)6.4(v)6.4(e)0(n)]TJ
ET
EMC
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0 Tc
( )Tj
ET
EMC
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-.005 Tc
[(when the)6.4(y ar)9.3(e consider)9.3(ed compliant with a specic)]TJ
ET
EMC
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0 Tc
( )Tj
ET
EMC
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-.005 Tc
[(set of r)9.3(egulations. Banks tend t)9.8(o)0( r)9.3(ely on )]TJ
ET
EMC
/P <>BDC
BT
/F2 1 Tf
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(ad hoc)Tj
ET
EMC
/P <>BDC
BT
/F1 1 Tf
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0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
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-.005 Tc
[(appr)9.8(oaches for demonstr)19.5(ating cybersecurity)]TJ
ET
EMC
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BT
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0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 362.1449 642.9512 Tm
-.005 Tc
(compliance andwhen the compliance function)Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 551.1707 642.9512 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 362.1449 630.9513 Tm
-.005 Tc
[(leads the char)9.3(gear)9.3(e often primarily motiv)7.3(ated b)5.4(y)0( a)]TJ
ET
EMC
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BT
9 0 0 9 566.6092 630.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
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-.005 Tc
[(desir)9.3(e t)9.8(o)0( a)7.3(v)7.3(oid sanctions, nes and other)]TJ
ET
EMC
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BT
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0 Tc
( )Tj
ET
EMC
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BT
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-.005 Tc
[(consequences. Ideally)52.3(, the cybersecurity function at)]TJ
ET
EMC
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BT
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0 Tc
( )Tj
ET
EMC
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BT
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-.005 Tc
[(a bank will r)9.3(etain the primar)-8.8(y r)9.3(esponsibility for)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 543.4916 594.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 362.1449 582.9513 Tm
-.005 Tc
(identifying and documenting compliance)Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 522.8882 582.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 362.1449 570.9513 Tm
-.005 Tc
[(obligations. )19.5(T)48.4(o)0( optimiz)7.8(e security and manage)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 541.3699 570.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 362.1449 558.9513 Tm
-.005 Tc
(cybersecurity compliance risk, cybersecurity)Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 536.2194 558.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 362.1449 546.9513 Tm
-.005 Tc
[(initiativ)6.4(es should not be driv)6.4(en b)5.4(y)0( the compliance)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 556.2435 546.9513 Tm
0 Tc
( )Tj
ET
EMC
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EMC
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EMC
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EMC
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EMC
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EMC
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( )Tj
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EMC
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EMC
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( )Tj
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EMC
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EMC
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[(Digital T)31.8(r)14.7(ansformation )]TJ
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EMC
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/GS2 gs
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[(Acr)9.8(oss the banking industr)-8.8(y)52.3(,)0( digital tr)19.5(ansformation)]TJ
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EMC
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( )Tj
ET
EMC
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BT
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EMC
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( )Tj
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EMC
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[(envir)9.8(onment, but also off)11.7(ers exponentially gr)9.3(eater)]TJ
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EMC
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( )Tj
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EMC
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EMC
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( )Tj
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EMC
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EMC
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( )Tj
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EMC
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EMC
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( )Tj
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EMC
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EMC
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( )Tj
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EMC
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[(str)9.3(eamline oper)19.5(ations or incr)9.3(ease r)9.3(etention. K)12.7(e)6.4(y)]TJ
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EMC
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( )Tj
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EMC
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EMC
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( )Tj
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EMC
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ET
EMC
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( )Tj
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EMC
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[(tr)19.5(ansformation, and the)6.4(y expect t)9.8(o)0( see a r)9.3(eturn on)]TJ
ET
EMC
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( )Tj
ET
EMC
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EMC
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( )Tj
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EMC
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EMC
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( )Tj
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EMC
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ET
EMC
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ET
EMC
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( )Tj
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EMC
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[(nancial industr)-8.8(y ha)7.3(v)6.4(e)0( intensied competition,)]TJ
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EMC
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BT
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( )Tj
ET
EMC
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ET
EMC
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BT
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0 Tc
( )Tj
ET
EMC
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-.005 Tc
[(oper)19.5(at)9.8(ors and accommodate e)6.4(v)6.4(er-e)6.4(v)7.3(olving)]TJ
ET
EMC
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( )Tj
ET
EMC
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[(cust)9.8(omer beha)7.3(viors. Banks embr)19.5(ace modern)]TJ
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EMC
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0 Tc
( )Tj
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EMC
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[(application ar)9.3(chitectur)9.3(es for ser)-8.8(vices and nd)]TJ
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EMC
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( )Tj
ET
EMC
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[(inno)7.3(v)7.3(ativ)6.4(e wa)7.3(ys of off)11.7(ering pr)9.8(oducts t)9.8(o)0( cust)9.8(omers.)]TJ
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EMC
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( )Tj
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EMC
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[(Consequently)52.3(, banks incr)9.3(easingly risk liability)]TJ
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EMC
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( )Tj
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EMC
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EMC
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( )Tj
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EMC
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EMC
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( )Tj
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EMC
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EMC
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( )Tj
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EMC
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EMC
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EMC
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( )Tj
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EMC
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[(compliance risk fact)9.8(ors. When digital str)19.5(ategy fails)]TJ
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( )Tj
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( )Tj
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EMC
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[(de)6.4(v)6.4(elop sustainable, risk-based digital ar)9.3(chitectur)9.3(e.)]TJ
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EMC
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( )Tj
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EMC
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[(compliance risk in mor)9.3(e inno)7.3(v)7.3(ativ)6.4(e wa)7.3(ys so that)]TJ
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( )Tj
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EMC
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EMC
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( )Tj
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EMC
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[(r)9.3(ele)6.4(v)7.3(ant t)9.8(o)0( the banking envir)9.8(onment and risk)]TJ
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( )Tj
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EMC
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EMC
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( )Tj
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EMC
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[(management r)9.3(equir)9.3(es inno)7.3(v)7.3(ativ)6.4(e thinking,)]TJ
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EMC
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( )Tj
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EMC
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9 0 0 9 36.6449 486.9513 Tm
-.005 Tc
[(and updated, and inv)6.4(estment in the right)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 194.9735 486.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 474.9513 Tm
-.005 Tc
[(technologies. Banks ha)7.3(v)6.4(e)0( an oppor)-24.4(tunity t)9.8(o)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 206.9467 474.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 462.9513 Tm
-.005 Tc
[(tr)19.5(ansform compliance activity fr)9.8(om a cost center t)9.8(o)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 239.0173 462.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 450.9513 Tm
-.005 Tc
[(a function that deliv)6.4(ers v)7.3(alue and instills)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 194.6232 450.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 438.9513 Tm
-.005 Tc
[(compliance cultur)9.3(e thr)9.8(oughout the or)9.3(ganizationif)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 236.0883 438.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 426.9513 Tm
-.005 Tc
[(the)6.4(y equip it with the right skills and experience, for)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 237.8662 426.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 414.9513 Tm
-.005 Tc
[(example, in emer)9.3(ging r)9.3(egulat)9.8(or)-8.8(y domains such as)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 232.2407 414.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 402.9513 Tm
-.005 Tc
[(ar)-24.4(ticial intelligence \(AI\) systems and big data)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 219.0955 402.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 390.9513 Tm
-.005 Tc
[(analytics, which ar)9.3(e often o)7.3(v)6.4(erlook)9.8(ed t)9.8(oda)7.3(y)52.3(.)0( )]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 366.9513 Tm
-.02 Tc
[(While building new capabilities ar)9.8(ound AI, adv)7.3(anced)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 233.5036 366.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 354.9513 Tm
-.02 Tc
[(analytics and managed ser)-8.8(vices, now mor)9.3(e than e)6.4(v)6.4(e)0(r)60.1(,)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 239.599 354.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 342.9513 Tm
-.02 Tc
[(banks can establish par)-24.4(tnerships t)9.8(o)0( shar)9.3(e)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 195.9592 342.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 330.9513 Tm
-.02 Tc
[(infr)19.5(astructur)9.3(e, skills and capabilities; the compliance)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 235.6973 330.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 318.9513 Tm
-.02 Tc
[(r)9.8(ole could be e)6.4(v)7.3(olv)6.4(ed t)9.8(o)0( engage, suppor)-24.4(t and balance)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 239.1948 318.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 306.9513 Tm
-.02 Tc
[(business expectations, and tak)9.8(e a mor)9.3(e activ)6.4(e par)-24.4(t in)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 238.7644 306.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 294.9513 Tm
-.02 Tc
[(suppor)-24.4(ting business pr)9.8(ocesses and str)19.5(ategy)52.3(.)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 207.4118 294.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 282.9513 Tm
-.02 Tc
[(Compliance activities ar)9.3(e still time-consuming and)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 228.6871 282.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 270.9513 Tm
-.02 Tc
[(highly manual in most banks and tend t)9.8(o)0( lag behind)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 232.7433 270.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 258.9513 Tm
-.02 Tc
[(the r)19.5(ate of change in the risk ecosystem;)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 190.5012 258.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 246.9513 Tm
-.02 Tc
[(consequently)52.3(, the)6.4(y might benet fr)9.8(om business)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 216.7066 246.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 234.9513 Tm
-.02 Tc
[(insights int)9.8(o new t)9.8(ools and technology)52.3(.)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 184.8363 234.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
/GS3 gs
BT
/F3 1 Tf
11 0 0 11 36.6449 208.9513 Tm
.72 .13 .67 .01 k
-.005 Tc
[(P)6.4(olitical Risk: Domestic and International )]TJ
ET
EMC
/P <>BDC
/GS2 gs
BT
/F1 1 Tf
9 0 0 9 36.6449 190.9513 Tm
0 0 0 1 k
[(Compar)9.3(ed with technical inno)7.3(v)7.3(ation, political)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 213.1486 190.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 178.9513 Tm
-.005 Tc
[(uncer)-24.4(tainty can pose a diff)11.7(er)9.3(ent kind of challenge)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 166.9513 Tm
[(often less pr)9.3(edictable and mor)9.3(e disruptiv)6.4(eas)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 218.9142 166.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 154.9513 Tm
-.005 Tc
[(banks tr)-8.8(y t)9.8(o)0( manage compliance risk. In many)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 217.856 154.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 142.9513 Tm
-.005 Tc
[(countries, changes in domestic go)7.3(v)6.4(ernments and)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 230.6465 142.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 130.9513 Tm
-.005 Tc
[(ex)9.8(ecutiv)6.4(e administr)19.5(ation lead t)9.8(o)0( changes in)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 207.4333 130.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 118.9513 Tm
-.005 Tc
[(r)9.3(egulat)9.8(or)-8.8(y priorities, v)7.3(ariation in le)6.4(v)6.4(els of)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 195.6232 118.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 36.6449 106.9513 Tm
-.005 Tc
[(enfor)9.3(cement and other challenges. International)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 226.04 106.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 678.9513 Tm
-.005 Tc
[(bor)9.3(ders ha)7.3(v)6.4(e)0( alwa)7.3(ys been a point of friction for)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 440.4785 678.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 666.9513 Tm
-.005 Tc
(banks: Shifting or ambiguous international)Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 422.2122 666.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 654.9513 Tm
-.005 Tc
[(r)9.3(egulations can incr)9.3(ease geopolitical risk fact)9.8(ors,)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 448.157 654.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 642.9512 Tm
-.005 Tc
(which, in turn, can exacerbate compliance risk. )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 618.9513 Tm
[(T)48.4(o)0( addr)9.3(ess compliance risk, banks oper)19.5(ating in)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 440.3752 618.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 606.9513 Tm
-.005 Tc
[(international geogr)19.5(aphies must incorpor)19.5(ate)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 425.4948 606.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 594.9513 Tm
-.005 Tc
[(geopolitical risk in their o)7.3(v)6.4(er)19.5(all risk management)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 445.8817 594.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 582.9513 Tm
-.005 Tc
[(pr)19.5(actices. Domestic compliance ocers should)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 442.8028 582.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 570.9513 Tm
-.005 Tc
[(r)9.3(emain aler)-24.4(t and embr)19.5(ace international changes)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 443.873 570.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 558.9513 Tm
-.005 Tc
[(quickly)52.3(. E)12.7(v)6.4(en if r)9.3(egulations become mor)9.3(e r)9.3(elax)9.8(ed)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 447.3516 558.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 546.9513 Tm
-.005 Tc
(with new political winds \(whether domestically or)Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 449.0599 546.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 534.9513 Tm
-.005 Tc
[(internationally\), compliance ocers ar)9.3(e r)9.3(esponsible)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 458.6072 534.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 522.9513 Tm
-.005 Tc
[(for assessing the v)7.3(acuum left in the wak)9.8(e of )]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 510.9513 Tm
[(prior r)9.3(egulations and/or interpr)9.3(eting the r)9.3(ele)6.4(v)7.3(ance)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 450.7014 510.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 498.9513 Tm
-.005 Tc
[(of new r)9.3(egulations. )]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 474.9513 Tm
[(Many banks ha)7.3(v)6.4(e)0( not y)6.4(et de)6.4(v)6.4(eloped clear pr)9.8(ocesses)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 460.4111 474.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 462.9513 Tm
-.005 Tc
(for conducting business with politically exposed)Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 444.6224 462.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 450.9513 Tm
-.005 Tc
[(individuals, e.g., politicians, policy mak)9.8(ers, public)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 446.674 450.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 438.9513 Tm
-.005 Tc
[(oce personnel, and ha)7.3(v)6.4(e)0( y)6.4(et t)9.8(o)0( de)6.4(v)6.4(elop r)9.8(obust,)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 444.5665 438.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 426.9513 Tm
-.005 Tc
[(ecient KY)14.2(C pr)9.8(ocedur)9.3(es. As a r)9.3(esult, banks fail t)9.8(o)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 451.0277 426.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 414.9513 Tm
-.005 Tc
[(v)6.4(erify the identity of clients and/or fail t)9.8(o)0( anticipate)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 455.4951 414.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 402.9513 Tm
-.005 Tc
[(the risk of illegal tr)19.5(ansactions such as mone)6.4(y)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 433.0185 402.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 390.9513 Tm
-.005 Tc
[(laundering, terr)9.8(orist funding or nancial fr)19.5(aud in)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 442.1462 390.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 378.9513 Tm
-.005 Tc
[(newly established business r)9.3(elationships. In this)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 444.9818 378.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 366.9513 Tm
-.005 Tc
[(domain, the compliance function could tak)9.8(e a mor)9.3(e)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 457.3744 366.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 354.9513 Tm
-.005 Tc
[(inuential r)9.8(ole in the fr)9.8(ont ocefor example, b)5.4(y)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 447.3373 354.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 342.9513 Tm
-.005 Tc
[(counseling ocers with r)9.3(egar)9.3(d t)9.8(o)0( the risk in doing)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 451.4584 342.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 330.9513 Tm
-.005 Tc
(business with politically exposed persons. )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 198.9513 Tm
[(The E)8.3(u)0(r)9.8(opean Union \(EU\) continues t)9.8(o)0( tighten)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 434.6994 198.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 186.9513 Tm
-.005 Tc
[(mone)6.4(y-laundering r)9.3(egulations and r)9.3(ecommend new)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 457.7994 186.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 174.9513 Tm
-.005 Tc
[(contr)9.8(ol measur)9.3(es; ther)9.3(efor)9.3(e, banks must comply)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 445.5826 174.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 162.9513 Tm
-.005 Tc
[(not only with r)9.3(egional r)9.3(egulations, but also laws of)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 452.1901 162.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 150.9513 Tm
-.005 Tc
[(extr)19.5(aterrit)9.8(orial origin and eff)11.7(ect. Banks struggle t)9.8(o)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 450.8268 150.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 138.9513 Tm
-.005 Tc
[(enable their I)14.2(T)19.6( infr)19.5(astructur)9.3(e t)9.8(o)0( accommodate)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 436.2935 138.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 126.9513 Tm
-.005 Tc
[(stricter laws and r)9.3(egulations that combat mone)6.4(y)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 446.0826 126.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 114.9513 Tm
-.005 Tc
[(laundering, nancial fr)19.5(aud and terr)9.8(orist funding.)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 441.9408 114.9513 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 255.1448 102.9513 Tm
-.005 Tc
[(Banks need t)9.8(o)0( be adaptable, and compliance)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 431.6165 102.9513 Tm
0 Tc
( )Tj
ET
EMC
/Artifact <>BDC
.72 .13 .67 .01 k
/GS3 gs
255.145 215.47 347.915 104.257 re
f
EMC
/P <>BDC
BT
14 0 0 14 291.3909 290.1566 Tm
0 0 0 0 k
.0351 Tc
-.0175 Tw
[(BANKS)17.5( )19.6(TH)-8.8(A)63(T)37.1( OPERA)63(TE)17.5( A)5.3(CROSS)]TJ
ET
EMC
/P <>BDC
BT
14 0 0 14 504.4194 290.1566 Tm
0 Tc
0 Tw
( )Tj
ET
EMC
/P <>BDC
BT
14 0 0 14 264.3909 272.1566 Tm
.0351 Tc
-.0175 Tw
[(IN)14.1(TERN)-8.8(A)63(TION)-8.8(AL)17.5( GEOGRAPHIES)17.5( ARE)17.5( OF)-9.8(TEN)]TJ
ET
EMC
/P <>BDC
BT
14 0 0 14 558.5141 272.1566 Tm
0 Tc
0 Tw
( )Tj
ET
EMC
/P <>BDC
BT
14 0 0 14 264.3909 254.1566 Tm
.0351 Tc
-.0175 Tw
[(CH)-8.8(ALLENGED)17.5( WI)14.1(TH)17.5( IN)-8.8(APPROPRI)-8.8(A)63(T)0(E)17.5( RISK)]TJ
ET
EMC
/P <>BDC
BT
14 0 0 14 546.5991 254.1566 Tm
0 Tc
0 Tw
( )Tj
ET
EMC
/P <>BDC
BT
14 0 0 14 264.3909 236.1566 Tm
.0351 Tc
-.0175 Tw
[(BI)-8.8(AS)17.5( IN)17.5( ADDRESSING)17.6( FIN)-8.8(ANCI)-8.8(AL)17.5( RISK)17.5(.)]TJ
ET
EMC
/Figure <>BDC
Q
q
1 i
527.222 244.596 23 -23.75 re
W n
.027451 .98039 .8 .003922 k
/GS3 gs
q 1 0 0 1 545.326 234.308 cm 0 0 m
-.099 -2.881 -.579 -5.075 -1.441 -6.582 c
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EMC
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EMC
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EMC
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EMC
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EMC
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EMC
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EMC
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EMC
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EMC
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ET
EMC
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( )Tj
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[(and P)5.4(a)7.3(yments Ser)-8.8(vices Dir)9.3(ectiv)6.4(e 2 \(PSD2\), also)]TJ
ET
EMC
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EMC
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[(known as Dir)9.3(ectiv)6.4(e \(EU\) 2015/2366.)]TJ
ET
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(4)Tj
ET
EMC
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ET
EMC
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( )Tj
ET
EMC
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EMC
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( )Tj
ET
EMC
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[(Accor)9.3(ding t)9.8(o)0( r)9.3(esear)9.3(chers, In eff)11.7(ect, a bank not 100)]TJ
ET
EMC
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ET
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[(per)9.3(cent cer)-24.4(tain about the pr)9.8(o)7.3(v)6.4(enance of a )19.5(TPP)]TJ
ET
EMC
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EMC
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[(\(thir)9.3(d-par)-24.4(ty pr)9.8(o)7.3(vider\) r)9.3(equesting cust)9.8(omer data will)]TJ
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EMC
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[(need t)9.8(o)0( decide between declining the r)9.3(equest )]TJ
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ET
EMC
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( )Tj
ET
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(under GDPR. As things stand, the outcome would)Tj
ET
EMC
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0 Tc
( )Tj
ET
EMC
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[(pr)9.3(esumably be t)9.8(o)0( risk noncompliance with PSD2)]TJ
ET
EMC
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0 Tc
( )Tj
ET
EMC
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[(and r)9.3(eject the r)9.3(equest.)83()]TJ
ET
EMC
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(5)Tj
ET
EMC
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[( As tr)19.5(anspar)9.3(ency and)]TJ
ET
EMC
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( )Tj
ET
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[(priv)7.3(acy r)9.3(eceiv)6.4(e incr)9.3(easing emphasis fr)9.8(om )]TJ
ET
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[(r)9.3(egulat)9.8(or)-8.8(y authorities worldwide, banks will oper)19.5(ate)]TJ
ET
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BT
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( )Tj
ET
EMC
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BT
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ET
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0 Tc
( )Tj
ET
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ET
EMC
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(Conclusion )Tj
ET
EMC
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/GS2 gs
BT
/F1 1 Tf
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0 0 0 1 k
[(Neither cybersecurity nor compliance functions ar)9.3(e)]TJ
ET
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BT
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0 Tc
( )Tj
ET
EMC
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BT
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ET
EMC
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BT
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0 Tc
( )Tj
ET
EMC
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BT
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-.02 Tc
[(inuence thinking and dir)9.3(ection at a str)19.5(ategic le)6.4(v)6.4(el.)]TJ
ET
EMC
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BT
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0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
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-.02 Tc
[(Consequently)52.3(, banks often lack a holistic view of risk)]TJ
ET
EMC
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BT
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0 Tc
( )Tj
ET
EMC
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BT
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-.02 Tc
[(r)9.3(esulting fr)9.8(om imper)19.5(ativ)6.4(es ar)9.8(ound cybersecurity)52.3(,)]TJ
ET
EMC
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BT
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0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
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-.02 Tc
[(priv)7.3(acy and tr)19.5(anspar)9.3(ency)52.3(. Y)31.8(et, legal and r)9.3(egulat)9.8(or)-8.8(y)]TJ
ET
EMC
/P <>BDC
BT
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0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
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-.02 Tc
[(landscapes acr)9.8(oss the globe ar)9.3(e becoming mor)9.3(e)]TJ
ET
EMC
/P <>BDC
BT
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0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 360.5 571.2131 Tm
-.02 Tc
[(complexand not necessarily mor)9.3(e mutually)]TJ
ET
EMC
/P <>BDC
BT
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0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
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-.02 Tc
[(consistent. As compliance risk emer)9.3(ges fr)9.8(om new)]TJ
ET
EMC
/P <>BDC
BT
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0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
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[(technology)52.3(, pr)9.8(oducts and ser)-8.8(vices, the compliance)]TJ
ET
EMC
/P <>BDC
BT
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0 Tc
( )Tj
ET
EMC
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[(risk ecosystem is also tr)19.5(ansforming r)19.5(apidly)52.3(. )19.5(The)]TJ
ET
EMC
/P <>BDC
BT
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0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
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-.02 Tc
[(challenge for banks t)9.8(o)0( r)9.3(emain compliant has perhaps)]TJ
ET
EMC
/P <>BDC
BT
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0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
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-.02 Tc
[(ne)6.4(v)6.4(er been mor)9.3(e complex and critical. Integr)19.5(ating)]TJ
ET
EMC
/P <>BDC
BT
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0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
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-.02 Tc
[(r)9.3(egulat)9.8(or)-8.8(y changes with impacted internal policies)]TJ
ET
EMC
/P <>BDC
BT
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0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 360.5 487.2131 Tm
-.02 Tc
[(will help t)9.8(o)0( identify impacted business domains. In)]TJ
ET
EMC
/P <>BDC
BT
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0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
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-.02 Tc
[(addition, aut)9.8(omating workows and tasks t)9.8(o)0( trigger)]TJ
ET
EMC
/P <>BDC
BT
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0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
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-.02 Tc
[(r)9.3(ele)6.4(v)7.3(ant r)9.3(esour)9.3(ces, i.e., people, pr)9.8(ocess and)]TJ
ET
EMC
/P <>BDC
BT
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0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 360.5 451.2131 Tm
-.02 Tc
[(technology)52.3(, in impacted business domains that ar)9.3(e)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 554.0977 451.2131 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
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-.02 Tc
[(integr)19.5(ated with internal policies will help t)9.8(o)0( achie)6.4(v)6.4(e)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 553.2681 439.2131 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 360.5 427.2131 Tm
-.02 Tc
[(adequate compliance le)6.4(v)6.4(els. Banks need t)9.8(o)0( maintain)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 561.0852 427.2131 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 360.5 415.2131 Tm
-.02 Tc
[(internal policies and r)9.3(ele)6.4(v)7.3(ant technology b)5.4(y)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 524.5391 415.2131 Tm
0 Tc
( )Tj
ET
EMC
/P <>BDC
BT
9 0 0 9 360.5 403.2131 Tm
-.02 Tc
[(integr)19.5(ating with v)7.3(arious r)9.3(egulations with which)]TJ
ET
EMC
/P <>BDC
BT
9 0 0 9 537.0905 403.2131 Tm
0 Tc
( )Tj
ET
EMC
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