COVID-19 has created unprecedented business and regulatory disruption in a condensed period. There are massive changes to how financial institutions operate and what regulators and supervisors expect, in addition to significant economic impacts on society, businesses and individuals, according to Oliver Wyman Financial Services Partners Elena Belov, Tammi Ling and Allen Meyer, Americas Compliance Head. Oliver Wyman is an affiliate of Guy Carpenter.
The pandemic’s effects have triggered extensive government action including the largest ever peacetime stimulus package in the United States — the Coronavirus Aid, Relief and Economic Security (CARES) Act.
A new paper from Oliver Wyman helps compliance teams set up a dynamic process for identifying emerging and intensifying risk.