Henry Hilska



Posts by Henry Hilska

Change to spare: How technology meets evolving anti-money laundering requirements

The past 10 years have seen an increase in the number and breadth of regulations aimed at the financial services industry, many of which stem from the financial crisis of 2007-’08. For example, requirements for capital adequacy, and restrictions on proprietary trading, have profoundly affected the covered institution. Yet beyond rules spawned the financial crisis, 

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Business Transformation in Asset Management

Asset Management is no exception to the dramatic changes currently facing the financial services industry. This transformation is happening on a global level, including the introduction of regulations that impact firms’ operating models in a variety of ways. Technological innovation is a driver of the changes affecting how firms interact with their clients, impacting asset 

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Inclusive solutions for enterprise risk and compliance

Over the last several years, bank governance, risk and compliance (GRC) programs worldwide have been placed under increased scrutiny by regulators, elected officials and the public. The myriad of new regulations and requirements, primarily driven by the Basel III framework and regulations such as Dodd-Frank, have increased the complexity and costs to maintain regulatory compliance. 

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GRC: The need to aggregate and integrate all areas of risk

In today’s financial services landscape, the need for effective risk management has never been more important. This might seem obvious, especially after the financial crisis that eliminated many institutions, both large and small, from the market place, however banks are continuing to fail. In fact, according to the Federal Deposit Insurance Corporation, over the past 

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What regulatory changes are hitting banks in Q1?

Though the pace of creation of new regulatory mandates has slowed and the future of existing rule implementation, such as portions of the Dodd-Frank Act, have been thrown into doubt with the Republican victories in November, there are still many issues facing banking institutions throughout the United States. In the 1st Quarter of 2015 Basel 

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The banking industry in 2015 – The rise of the millennial effect and other impacts on technology

2015 is expected to be an exciting, if not challenging year for the financial services industry. The banks have improved profitability by shedding expenses and increased lending. This improvement has come despite the costs of regulatory compliance, as well as the legal costs for past failures. Many banks have spent the last several years improving 

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Client onboarding – The importance of business process assessment and optimization

Business process improvement and the implementation of business process management (“BPM”) technology can truly become a “cart before the horse” dilemma for many organizations. Software vendors and implementers are often called upon to deliver the nirvana state that they sold their customer on, by simply automating a process without considering the fact that the process 

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The outlook for financial services in 2014 – How can organizations achieve transformational change in a limited budgetary reality?

As economists have recently revised global economic growth prospects downward, the expectation for 2014 is that interest rates will remain low. If global economies are slated to grow sluggishly, logically, the prospects for IT spending in the banking and financial services sector would also remain slow. This uncertain outlook is supported in the US by 

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Operational risk is a Data issue

The Basel II framework  defined “Operational Risk” as “the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events.” It introduced a capital charge related to this risk. The specific definition of what constitutes that risk differs from institution to institution but is based on potential losses stemming 

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Client On-boarding: Leveraging BPM to Achieve Business Transformation

Successful organizations are not known for being complacent. They strive to improve themselves continuously. But that raises an issue; how does an organization identify weaknesses in their compliance, delivery and customer focus? In Frank Palermo’s recent blog Making Sense of Your Big Data with BPM: Turning Insights into Action, he discusses the convergence of Master 

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How Master Data Management can help Capital Market Organizations Onboard Clients, comply with Dodd-Frank and enable Business Transformation

It is important to keep in mind that most problems have more than one right answer; the challenge is to determine the best answer. The challenges raised by the Dodd-Frank Act provide the opportunity to determine which of the many potential solutions would be the best answer for your organization. Many of the banks that 

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Client Onboarding for Financial Institutions: Transforming Your Business and Compliance Process

Recently, I had the pleasure to be present during a webinar with Tony Young, Director of Financial Services Solution and Brad Foohey, Solutions Consultant, from Pegasystems. The webinar “Derivatives Client Onboarding Solution – Transforming Your Business and Compliance Process” was attended by numerous bank on-boarding and compliance leaders from various financial institutions. The hour-long session 

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Dodd-Frank’s Third Anniversary: The IT Journey To Date

As we approach the third anniversary of the Dodd Frank Wall Street Reform and Consumer Protection Act in July, it is worthwhile to take a look at its impact on banks and their respective IT departments so far. The implementation of the rules has been fraught with delays and confusion. The regulators who were entrusted 

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Dodd Frank Compliance – Leveraging Business Intelligence for Business Transformation

The Dodd-Frank act has stirred emotions as well as opinions from those both inside and outside of the financial services space. While there are still ongoing debates on the merits of the legislation, there is perhaps more consensus on the fact that the rules have been implemented in a less than optimal manner. However, at 

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Business Transformation: A Holistic Approach to Client Onboarding

Business transformation is defined as a fundamental change to processes or operating models. In most cases, the first consideration is the driver for transformation, that is, the cause of the business transformation. These drivers can fall into a wide spectrum of causes, including the desire to enter a new business, a regulatory change, or a 

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5 Important Things Capital Market Organizations Need to Consider for Achieving Leadership in Client Onboarding

Implementing an onboarding solution is a critical step for capital market organizations in order to build durable relationships with their clients, enhance their experience with the organization and in the long run, build loyal customer base. When implementing an onboarding solution it is important to consider the solution from a holistic point of view.  An 

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Leveraging Regulatory Change to Improve Capital Markets Efficiency

In capital markets today, it is very easy to find someone who can provide a list of reasons why the Dodd-Frank Act is onerous and unnecessary.  However, if we accept the inevitability of these new business requirements, we can try to look at the regulations in a different light.  The changes that these regulations require 

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