Regulation seen as a big concern for Asset Management Industry

When regulations get complex and ever expanding, then the risk of regulatory compliance takes the Driver's seat. According to research by Ernst & Young, Increased regulatory interest has overtaken reputation as the biggest risk concern for asset management chief risk officers (CROs) with the desire to optimise capital and liquidity springing into third place.

The Asset Management industry is now faced with extreme regulatory compliance challenges. Things like Walker review, ICAAP, SEBI/IRDA issue on ULIP etc have had a major role. Add to this the fact that margins, upfront fees and the volatility in capital markets is not helping either.

Risk Management today is more than a monitoring activity. It is more of a strategic role, starting right from new product development process till the delivery to the customer and their satisfaction. Along the way, the organisation faces extreme risk factors and unknowns.

Another form of risk that faces Asset Management companies is liqiudity risk during extreme redemption pressures. With all industry players facing this issue at the same time, there is likely to be a strong unwinding effect and mass liquidation of holdings. The challenge is not to prevent it, but rather how to manage it with minial disruption and reputational impact.

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