Enterprise Compliance Risk Management

Enterprise Compliance Risk Management

by Saloni Ramakrishna
Released November 2015
Publisher(s): Wiley
ISBN: 9781118550281

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Book description

The tools and information that build effective compliance programs

Enterprise Compliance Risk Management: An Essential Toolkit for Banks and Financial Services is a comprehensive narrative on managing compliance and compliance risk that enables value creation for financial services firms. Compliance risk management, a young, evolving yet intricate discipline, is occupying center stage owing to the interplay between the ever increasing complexity of financial services and the environmental effort to rein it in. The book examines the various facets of this layered and nuanced subject.

Enterprise Compliance Risk Management elevates the context of compliance from its current reactive stance to how a proactive strategy can create a clear differentiator in a largely undifferentiated market and become a powerful competitive weapon for organizations. It presents a strong case as to why it makes immense business sense to weave active compliance into business model and strategy through an objective view of the cost benefit analysis.

Written from a real-world perspective, the book moves the conversation from mere evangelizing to the operationalizing a positive and active compliance management program in financial services. The book is relevant to the different stakeholders of the compliance universe - financial services firms, regulators, industry bodies, consultants, customers and compliance professionals owing to its coverage of the varied aspects of compliance.

Enterprise Compliance Risk Management includes a direct examination of compliance risk, including identification, measurement, mitigation, monitoring, remediation, and regulatory dialogue. With unique hands-on tools including processes, templates, checklists, models, formats and scorecards, the book provides the essential toolkit required by the practitioners to jumpstart their compliance initiatives. Financial services professionals seeking a handle on this vital and growing discipline can find the information they need in Enterprise Compliance Risk Management.


 

Enterprise Compliance Risk Management: An Essential Toolkit for Banks and Financial Services is a comprehensive narrative on managing compliance and compliance risk that enables value creation for financial services firms. Compliance risk management, a young, evolving yet intricate discipline, is occupying center stage owing to the interplay between the ever increasing complexity of financial services and the environmental effort to rein it in. The book examines the various facets of this layered and nuanced subject.

Enterprise Compliance Risk Management elevates the context of compliance from its current reactive stance to how a proactive strategy can create a clear differentiator in a largely undifferentiated market and become a powerful competitive weapon for organizations. It presents a strong case as to why it makes immense business sense to weave active compliance into business model and strategy through an objective view of the cost benefit analysis.

Written from a real-world perspective, the book moves the conversation from mere evangelizing to the operationalizing a positive and active compliance management program in financial services. The book is relevant to the different stakeholders of the compliance universe - financial services firms, regulators, industry bodies, consultants, customers and compliance professionals owing to its coverage of the varied aspects of compliance.

Enterprise Compliance Risk Management includes a direct examination of compliance risk, including identification, measurement, mitigation, monitoring, remediation, and regulatory dialogue. With unique hands-on tools includi

Table of contents

  1. Advance Praise
  2. Title Page
  3. Copyright
  4. Dedication
  5. Preface
  6. Acknowledgments
  7. About the Author
  8. Opening Notes
  9. Design and Structure of the Book
  10. Part One: Introduction to Compliance in Financial Services
    1. Chapter 1: An Overview of Compliance in Financial Services
      1. A Brief History and Evolution of Compliance
    2. Chapter 2: Compliance in the Twenty-First Century
      1. Drivers of Compliance
      2. Broad Areas of Regulation and Supervision in Financial Services
      3. Major Bodies That Define Compliance Boundaries for Financial Services
  11. Part Two: The What, Why, and Who of Compliance
    1. Chapter 3: What Is “Compliance”?
      1. Compliance in the Context of Banking and Financial Services
      2. Understanding the Semantic Maze of Compliance
      3. Interconnects
    2. Chapter 4: Why Is Compliance Needed?
      1. Why Regulate?
      2. Why Comply?
      3. Consequences of Noncompliance
      4. Cost-Benefit Analysis of Active Compliance
      5. Interrelationship between Business Model, Strategy, and Compliance
      6. Active Compliance—a Strategic Tool in Value Creation, Preservation, and Enhancement
    3. Chapter 5: Who Are the Players in the Compliance Universe?
      1. The Universe of the Financial System—A Bird's-Eye View
      2. Primer on Major Players in the Financial System
      3. Stakeholders of the Compliance Universe
      4. Compliance Roles
  12. Part Three: The How of Compliance
    1. Chapter 6: Compliance Framework
      1. Managing the Compliance Maze
    2. Chapter 7: Operationalizing Compliance
      1. Operational Framework
      2. Points to Note
      3. Compliance Culture Dimension
  13. Part Four: The Compliance Risk Dimension
    1. Chapter 8: Exploring the Concept of Compliance Risk
      1. Defining Risk
      2. Overlap of Financial Risks and Compliance Risk
      3. Compliance Risk—An Introduction
      4. Defining Compliance Risk
      5. Subcategories of Compliance Risk
      6. Compliance Risk and Organizational Complexity Scale
    2. Chapter 9: Compliance Risk Management
      1. Risk Appetite
      2. Risk Identification
      3. Risk Assessment
      4. Risk Mitigation
      5. Risk Monitoring
      6. Risk Remediation
      7. Compliance Risk Reporting
      8. Regulatory Dialogue
  14. Part Five: The Real World of Compliance in Financial Services
    1. Chapter 10: Real-Life Issues of Managing Compliance in Financial Services
      1. Myths vs. Reality
      2. Overlaps and Conflict Zones
      3. Some Important Distinctions
    2. Chapter 11: Lessons Not Learned
      1. Real-World Examples
      2. The Shifts
    3. Chapter 12: Practical Solutions to Some Important Operational Challenges
      1. Challenge: Building Business Integrity into Organization's Fabric
      2. Challenge: Building Compliance-Aware Organization (CAO)
      3. Challenge: Compliance Reach to All
      4. Challenge: Managing Regulatory Dialogue
  15. Closing Notes
    1. Regulatory Coherence
    2. Compliance Coherence
    3. Building a Learning Organization
      1. Index
  16. End User License Agreement

Product information

  • Title: Enterprise Compliance Risk Management
  • Author(s): Saloni Ramakrishna
  • Release date: November 2015
  • Publisher(s): Wiley
  • ISBN: 9781118550281