Season 4, Episode 2: Five key risks for financial services firms in 2022

In the second episode of season 4 of the Compliance Clarified podcast, Susannah Hammond is joined by Mike Cowan to discuss the five key risks for senior managers in financial services firms in 2022. Now at the start of 2022, financial institutions need to consider the changes they might need to make permanent after their largely successful response to the COVID-19 pandemic. A combination of flexibility, deployment of technology and, in the case of banks, balance sheets which had been substantially bolstered following the financial crisis, all helped meet the unprecedented challenges in early 2020. It is likely that for many firms, work is already underway to reassess the strategic approach, together with associated policies, procedures and control infrastructure. The risks financial services firms run are institution-specific but there are some high-level risks applicable to all firms, irrespective of geography or sector. The full five key risks for firms in 2022 can be downloaded from here: https://legal.thomsonreuters.com/en/insights/reports/5-key-risks-for-firms-in-2022 TV interview with Susannah discussing the five key risks can be viewed here: https://cdnapisec.kaltura.com/p/2363721/sp/236372100/embedIframeJs/uiconf_id/49465922/partner_id/2363721?iframeembed=true&playerId=kaltura_player_1643735688&entry_id=1_cryd0pq8 The 2022 cost of compliance survey is open – to take part please click here https://reuters.az1.qualtrics.com/jfe/form/SV_4SmwDAc25WrncsC Special reports mentioned in the podcast: ESG: Fast-emerging challenges for financial institutions report https://www.thomsonreuters.com/en-us/posts/legal/esg-report-2021/ Cryptos on the rise report https://www.thomsonreuters.com.sg/en/resources/cryptos-on-the-rise.html Fintech, regtech and the role of compliance in 2022 report https://legal.thomsonreuters.com/en/insights/reports/fintech-regtech-and-the-role-of-compliance-in-2022/form Further information on Thomson Reuters Regulatory Intelligence can be found at: https://legal.thomsonreuters.com/en/products/regulatory-intelligence?elqTrackId=73370082102a4669b4d34524158b501c&elqaid=3945&elqat=2