A more uncertain world is creating opportunities for globally aware professionals in Hong Kong, says Jim Woods
This article was first published in Classified Post.
30 Apr 2016
Greater tightening of regulations in the financial services sector is leading to increased demand for compliance and risk management professionals. Jim Woods, risk and regulatory services leader, APAC, at PwC, outlines the opportunities in the field.
How has the landscape for risk and regulatory services changed globally and in Hong Kong?
The greater importance of technology has led to much more serious issues concerning data privacy and cybersecurity. Companies, particularly those in financial services, face increased regulation – this is to a large extent a result of the global financial crisis. The power and speed of media – particularly social media – has also changed things. for businesses. In the past, a lapse of judgment or a performance issue for, say, a car manufacturer could be more easily contained. But now it can spread like wildfire. A dissatisfied customer can write something on Facebook and it can immediately go viral.