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Shield | The post-COVID new normal

Financial firms are the stewards of our economy; when they falter and post strings of losses, there is a pronounced ripple effect. Watch the presentation or visit us at https://bit.ly/3717YlC

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Shield | The post-COVID new normal

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  1. THE POST-COVID NEW NORMAL

  2. We’ve already entered the era of the “new normal” here in the midst of COVID, but one has to wonder how things will change on the first day after the pandemic is officially declared “over” with the dawn of a new, new normal. Weallknowthatthescourgeofthenovel coronavirusformallybeganonMarch11, 2020 whentheWorldHealthOrganizationdeclaredit assuch. However, noneofuscanaccurately predictwhenitwillbeover.

  3. THE OFFICE Office buildings have more than a few vacancies these days. Large cities such as London, New York City and other financial epicenters have been particularly hard hit… New York’s largest tenants, like Google, WeWork and JP Morgan, are MIA, and the upper class is now fleeing the confines of dense living for the suburbs. Thecontractbetweensocietyandbusinesshaschanged forever. Theofficewillbecomeaconveningplace whereyougetteamstogether, buttheworkwillbe doneinpeople’shomes.

  4. THE TECHNOLOGY Operational resilience has been on full display and reached new heights in the wake of the pandemic. Knowledgesharingamongstcomplianceofficers, madepossiblebytechnology, evolved toasustainablecadenceandworkflowthatenabledstandardizationofregulatory practices. Developmenttraininganddepartmentalmeetings, althoughmostlyvirtual, haveallowedcomplianceofficerstorisetothechallengeoftelework. Technologyitself, buoyedbyadvancessuchasartificialintelligence, hasenabledcomplianceofficersto movebeyondbasiclexiconanalysisofe-Communicationsandenabledsimultaneous multi-lingualinterpretationandassessmentofconversationalnuance.

  5. THE REGULATIONS Although reporting requirements were relaxed at the onset of the pandemic, upholding compliance measures that thwart, identify and halt market abuse has been an unwavering constant. Financialcriminalshavedemonstratedthemselvesto beequallycreativeandhavecleverlymasterminded COVID-basedphishingscamsandotherillegal measurestocircumventacceptedfinancialpractices. ByDay1ofthepost-COVIDnewnormal, market abuserswillbeonpause, regroupingtocraftnew schemesthatbypassevenmorestringentcompliance regulations. Thatis, atleastuntilfinancialcriminals comeupwithnewschemesthatbypassdetection.

  6. THE FUTURE Financial firms are the stewards of our economy; when they falter and post strings of losses, there is a pronounced ripple effect. Here’swherethingsbecomeironic. Complianceteams, bloatedthoughtheyareformanyfirms, werethesaviors ofmanybanksand, indeed, manyeconomies, because theyfiguredouthowtostabilizeremoteworkwhenit wasunexpectedlythrustupontheworldbackinMarch.

  7. AsstatedbyCUBEinApril2020, complianceisnotgoingaway. Itmaychangeforms, butitremainsessentialasacritical businessfunction, “Now, morethanever, businessesshouldbe lookingatwaystoautomatetheircompliancesystemsand implementsmart, technologicalsolutionsthatreducehuman

  8. CONTACT US PhoneNumber 97235685587 E-mailAddress info@shieldfc.com Website www.shieldfc.com

  9. FOLLOW US facebook.com/ShieldFinancialCompliance twitter.com/Shieldregtech linkedin.com/company/shieldfc instagram.com/shield.regtech

  10. THANK YOU!

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