Q22. How should regulatory update ownership be assigned within a financial institution?

Every regulatory update requires a single named owner—not a team, not a function, a person. Shared ownership produces diffused accountability: everyone assumes someone else is handling it. Best practice is a tiered model: a named owner at the operational level, an escalation lead at the function level, and an executive sponsor for High-severity items. The owner has authority to mobilise resources, not just responsibility to report status.