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Political uncertainty, particularly at the federal level in the U.S., has created an interesting environment.

As Aon’s Financial Institutions industry leader, Jacqueline Quintal works to bring together firm-wide resources to develop and facilitate the delivery of industry-specific expertise, innovation, and strategic advice to clients.

Quintal partners with financial institutions to address exposures and tailor risk transfer and consulting solutions in areas including management and professional liability, cyber, property, casualty, environmental, health and benefits, due diligence, transactional solutions, operational risk, talent and compensation.

In addition to working with traditional banks, insurance companies and asset managers, Jackie focuses on emerging exposures for fintech firms. Jackie is particularly interested in innovation in the financial services industry and within Aon, where she plays a strategic role in identifying potential applications of new technologies


 

Christopher P. Skroupa: How does dealing with political uncertainty impact CROs?

Jacqueline Quintal: Financial Institutions are no stranger to regulation. Their CROs have been dealing with a complex legal and compliance environment for some time. That said, political uncertainty, particularly at the federal level in the U.S., has created an interesting environment. We are keeping a close eye on the extent to which inaction at the federal level will empower state regulators.  For many institutions, compliance has become a best practice and customer differentiator, regardless of changing regulatory rules and implementation timelines.

The challenge is maintaining a focus on staying competitive – attracting and retaining both customers and employees – while balancing a necessary internal focus on risk and compliance.

Skroupa: How is risk managed in an undefined regulatory area?

Quintal: Change, and periodic ambiguity, in the global political and regulatory environment inherently create volatility, which can paralyze both human and financial capital as well as hinder performance. Interestingly, even developed nations are a source of uncertainty for businesses in the current environment. According to Aon’s 2017 Global Risk Management Survey, political risk/uncertainties has emerged as a top concern for global organizations.

Regardless of how the regulatory landscape evolves, companies increasingly recognize that regulation is a primary consideration in business strategy and an opportunity to create competitive advantage.

Skroupa: How can the CRO bring big the global multi-nationals and the desire for new, innovative regulatory activity together in this environment?

QuintalThe CRO is challenged by global trends in three areas – economics, demographics and geopolitics. The rapid pace of technology advancement is compounding the impact of these trends and increasing the importance of organizational agility and innovation. Rather than relying exclusively on regulatory rules and compliance, the CRO can think systematically about the categories of risk they face and institute responses to each.


Quintal will be a moderator for two panels at the New Era for Regulatory Risk program. The panels are View from the Top: Managing Risk in the New Regulatory Environment and Evolving Role of the Chief Risk Officer: Before & After 2008 on November 30 in New York, NY.

Originally published on Forbes.com. More articles by Christopher Skroupa on his Forbes column.