Skip to Main Content
Essential Strategies for Financial Services Compliance, 2nd Edition
book

Essential Strategies for Financial Services Compliance, 2nd Edition

by Annie Mills, Peter Haines
November 2015
Beginner content levelBeginner
400 pages
11h 51m
English
Wiley
Content preview from Essential Strategies for Financial Services Compliance, 2nd Edition

Chapter 10Key Compliance Department Activities

This chapter considers the types of activities with which Compliance Officers are involved on a day-to-day basis. These can be split roughly into:

  • routine activities; and
  • advisory work, when Compliance is taken ‘off-piste’ and you are asked to tackle something new and unfamiliar.

10.1 Routine Activities

Financial services firms are involved in widely differing types of business, and if you compare your own regulatory and corporate universe with that of a colleague in another firm, even if they are involved in a broadly similar line of business, you will be surprised at the number of differences there are. No matter how different the line of business, however, Compliance departments generally have a fairly similar brief and will thus be involved in a similar set of routine activities. (Remember that all Compliance departments should have similar objectives, as discussed in Chapter 2.)

These basic, work-a-day activities constitute the foundation of your firm's Compliance regime and while they are certainly not rocket science you have to get them right: there's too much at stake with the regulators and in terms of your own reputation within the firm if you don't. Once you understand what the rules require and the internal procedures your firm has implemented, you will find that these functions are fairly straightforward and you will soon be doing many of them on auto pilot.

Even though they are not generally considered to be the ...

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Start your free trial

You might also like

A Guide to Financial Regulation for Fintech Entrepreneurs

A Guide to Financial Regulation for Fintech Entrepreneurs

Stefan Loesch

Publisher Resources

ISBN: 9781118906132Purchase book