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From cost to opportunity: Holistic regulatory change management
Journal of Securities Operations & Custody,
15
(4),
325-335
(2023)
Abstract
Regulations and regulatory change management (RCM) are critical for safeguarding organisations and the overall economy by providing operating guardrails for managing risks. This paper discusses the purpose of regulations, the role of regulators and the need for proactive adoption of a robust RCM framework. It provides a practitioner’s perspective for establishing in-house RCM operations, outlining opportunities for adopting regulatory technology to support efficient compliance and organisational growth needs.
Keywords: regulations; regulators; regulatory change management; RCM; compliance; risk; RegTech; rule analysis; regulatory library; requirements inventory; target operating model
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Author's Biography
Anand Narayanan heads the Regulatory Change Management (RCM) function at Sumitomo Mitsui Banking Corporation, Americas Division, overseeing Operations and RegTech Program Management Office. He has extensive experience in financial services, primarily in compliance and regulatory change management space, specialising in creation of target operating models and corresponding organisation buildouts. He has spent significant time implementing global regulations such as MiFID and uncleared margining, and transformation initiatives related to client onboarding and KYC at large global banking organisations. He is a certified change management specialist with governance, risk and compliance (GRC) tool rollout experience. Anand frequently participates in various regulatory change and GRC technology forums in New York, and speaks on varied topics covering operating models, organisational transformations, and the role of technology in creating competitive advantage.
