Von Gabriella Stratoti

Due to the banking industry’s past events – such as the well-known Adoboli case or the Libor scandal – many regulators expect banks to go beyond the execution of individual controls. They anticipate a more holistic approach by connecting the dots across control results and by taking into account other available data. A so-called ‘holistic monitoring’ program supports a bank to identify potential misconduct at an early stage, which prevents or reduces financial, regulatory or reputational damage. What is ‘holistic monitoring’ and how can it be implemented?