Good morning. I’m Randy Snook, executive vice president of business policies and practices at SIFMA. It is my pleasure to welcome you to our 41st Annual Operations Conference & Exhibit. SIFMA is pleased to provide this forum where our members, regulators and solution providers can come together with the shared goal of improving both the operating efficiency and resiliency of financial markets and the industry.
Our industry continues to be in a period of transformation. The rapid pace of change presents unique challenges and opportunities for operations professionals. Over the past five years, we’ve seen a massive regulatory overhaul that is driving this change.
Banks have more capital, more liquidity and less leverage which increases stability and enhances trust and confidence in the financial system.
This has required our industry to build out and incorporate new and complex systems and technologies, and rely more heavily on outside solution providers. Sometimes it can seem like we’re playing whac-a-mole in that as soon as we adopt one new change or mandate, there’s another to take its place – much of it well beyond the scope of the Dodd-Frank rule making.
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