Given this crisis, financial institutions that survived have had to deal with a myriad of challenges, including:
- Managing scarce resources (balance sheet, capital, liquidity, and funding)
- A chaotic and uncoordinated global regulatory environment
- Significant economic uncertainly
- Aging / ineffective finance and risk systems
- Corporate governance and reporting matters
- Inefficient cost structures
On top of those challenges, banks will now have to implement the new regulations passed by the Obama administration. Otherwise known as Financial Regulatory Reform, this reform is enormous in scope and will be the biggest change to the banking system since the Glass Steagall Act of 1933.
In this environment, having the right professional services firm – one with the industry depth, knowledge, and insight to help clients address their most pressing issues and achieve their goals – is critical. Recognizing the organizational breadth of today’s banking and finance industry, our practice operates within and draws on the vast experience of KPMG’s Financial Services practice. With 2,000+ U.S. Banking and Finance professionals, we combine global reach with centralized control to bring you proactive, superior client service.