Four years after the signing of Dodd-Frank, financial services firms have a better understanding of both the challenges and potential benefits for their organization. While financial institutions are starting to get a better grip on Dodd-Frank reforms, one area where regulators are still coming to grips with and finalizing guidelines is incentive compensation. In fact, Section 956 was proposed in April 2011 and still has not been finalized. While this does mean we’re still in limbo with many of the Dodd-Frank regulations, banks still need to be prepared.That means financial institutions covered under this rule should have a formal review process in place for managing incentive compensation. Additionally, banks need to have the governance structures in place to ensure excessive compensation is not paid and the organization itself or their customers are not at risk.
During an upcoming webinar, led by Perficient’s financial services practice and our IBM team, we’ll be discussing the challenges and implications of Dodd-Frank on incentive compensation and how an integrated sales performance management solution can benefit your organization. Check out some of the highlights and key takeaways over on the IBM blog and register to attend.
For a more in-depth discussion on the application of sales performance management solutions to satisfy some of the regulatory requirements under Dodd-Frank, download the recent white paper, “Overcoming Strategic Challenges of Dodd-Frank with IBM Sales Performance Management Solutions”.