Not tense, just ready

Risk management and compliance issues can seem to counter competitiveness. But business success lies in balancing resistance with responsiveness, says Jacqui Griffiths.

With an increasing number of regulations to comply with and ever more risks to address, financial firms can be tempted to take a purely defensive approach – do the bare minimum to avoid penalties for noncompliance, and batten down the hatches to exclude threats such as fraud or data theft. But given the continuing development of both risk and regulation, ongoing flexibility is also crucial to combining successful defence with successful business – in the words of Bruce Lee: “Do not be tense, just be ready.”

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