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Salome Forrer
Manager, Financial Services Risk Consulting, PwC Switzerland
Vinay Kalia
Senior Manager, Financial Services Risk Consulting, PwC Switzerland
In the fast-paced world of banking, regulatory changes are a constant challenge that financial institutions must face. The announcement of the FINMA circular 2023/1 on operational risks and resilience for banks has brought about significant changes especially emphasizing the need for operational resilience and the active involvement of board members and executive committees in risk management.
The revised FINMA circular is set to take effect on 1 January 2024, with transition periods of up to two years for operational resilience.
Some of the key guidelines and considerations banks should undertake to effectively implement required changes include:
We are available to further discuss or address any questions that you may have on the implementation of the circular.
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The circular is effective on 1 January 2024. Is your outlook positive to meet the given deadlines?
Manager, Financial Services Risk Consulting, PwC Switzerland
Tel: +41 58 792 28 72
Senior Manager, Financial Services Risk Consulting, PwC Switzerland
Tel: +41 58 792 44 10