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greater area of focus as banks look to 6. Values and purpose front and center ARTICLE
decrease costs while also broadening Clear corporate purpose becomes even
capability to support growth. Everything more critical. Corporate behavior, in the
will be up for debate as banks look for the court of public opinion, will drive future
operating model of the future. customer loyalty. Societal responsibility,
4. Defining new reality ways of working ethics and support for progressive climate
Remote working will drive re-evaluation related products and services are vital.
of workforce management, culture and Environmental, Social and Governance
leadership. Banks must identify an optimal related risks have rapidly risen through the
mix for the operating model to enable long- list of TOP risks across the marketplace, and
term flexible working. The labor force will are a stakeholder expectation as we evolve
become ever more automated and resilient. through this pandemic.
5. Rewriting the risk management playbook
Banks will need to fundamentally re-examine
their resiliency across the complete spectrum- An Article from KPMG Fakhro
operational, liquidity, capital, market, and
credit risk - to model for the next unforeseen
event. New risk models and strategies will be
needed especially with the increase in focus
on issues pertaining to privacy, cyber risks, Responsibility for opinions expressed and the accuracy of
skills’ shortage, etc. facts published in this article rests solely with the author.

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