Compliance

According to new research from The Risk Advisory Group, third party risk is the number one priority for compliance professionals in 2018. In order to manage their third party relationships efficiently and mitigate the risk, compliance professionals are increasingly turning to technology to help. But what are the benefits and what is the real value of moving to an online system?

When participating in a transaction, there are many steps to consider and take to seamlessly carry out a sale. Allocating resources and effectively communicating are key for successful due diligence, the process prior to finalizing an M&A transaction.

For compliance professionals, the opportunities presented by regulatory technology are plentiful, even though challenges exist. Several best practices can help ensure they are getting the most out of the tools they choose for their businesses.    

The May 2018 deadline for the EU’s General Data Protection Regulation (GDPR) should have organizations scrambling to roll out GDPR-readiness programs. After all, the regulation applies to most organizations doing business in the EU, non-compliance can result in severe fines, and getting ready for compliance will likely take significant time and effort. However, according to a recent global CGOC survey of compliance...

The prospect of record-breaking fines for noncompliance with regulations set by the Financial Industry Regulatory Authority (FINRA) continues to loom large for financial organizations and their CEOs. Executives should take a proactive approach to dodging the FINRA fines bullet. Read on for five practical compliance strategies.

Like Achilles or Sampson, the power and potential of AI has a weakness, a vulnerability. In the case of financial services that weakness is its opacity. In general, the better the machine learning system, the blacker the box - that is, the harder it is to decipher what is going on inside the model.

Compliance with FINRA and similar regulations can pose serious challenges to organizations. Understanding and learning to navigate these potential challenges will go a long way in avoiding excess fines for non-compliance.

Now that the first compliance deadline for the New York State Department of Financial Services' new cybersecurity regulation has gone into effect, what do banks and financial institutions of all sizes need to know? In addition to the straightforward requirements such as appointing a CISO and implementing a robust cyber program, many of the new tasks will require a much...

Because ABC compliance is driven by enforcement as opposed to regulation, gaps may only become visible when an incident occurs, and by then, it’s too late. If a corporation can prove to the regulator they’ve done everything in their power to prevent corruption, and any bribes were the actions of a rogue individual, then they may be able to avoid...

Kristy Grant-Hart will be a keynote speaker at the NAVEX Global 2017 Ethics & Compliance Virtual Conference. Register for free today to join her session.  What makes for a long-term successful career in compliance?  Is it personality?  Certainly, being likeable is advantageous, but it isn’t critical.  What about understanding the business?  Absolutely, this is important, but it won’t necessarily make you...

A raft of new, far-reaching regulations is making it necessary for financial institutions to rethink their compliance procedures from the ground up. With many of these new regulations drawing from the same data sets, the old approach of having siloed compliance teams pull the necessary statistics for each directive in isolation no longer makes sense. Instead, institutions need streamlined data processes...

The New York Dept. of Financial Services (DFS) Cybersecurity Requirements force companies to look into ways to prepare and tactics to navigate new regulations. This risk-driven regulation which requires financial services institutions, regulated by (DFS) to establish and maintain a cybersecurity program that will protect both customers’ private data and the technology that supports it.