Banks create roles to manage supervisory relationships
Increased regulatory scrutiny means compliance officers are spending 20% of their time dealing with requests from regulators, creating a single liason officer therefore makes good sense
LONDON & NEW YORK – With a spate of regulatory changes affecting the financial markets, banks around the world are being subjected to greater scrutiny by their regulators. In response, major financial institutions are establishing heads of supervisory relationship management to act as the first point of contact for their regulators.
Joe Sabatini, head of operational risk management at JP Morgan
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