Compliance

Key Challenges and Benefits of AI Machine learning and artificial intelligence have become buzzwords in the financial services industry. Daniel Fernandez helps to break down the difference between the two terms and explains how these technologies are being used by compliance departments today. By delving into how these technologies work, Daniel sheds light on the issues they can help to...

A "Call" to Arms for Banks In the wake of growing and complex financial legislation, many banks and financial service companies in the U.S., Europe, and Asia have been looking to ensure the activities of their traders and contact centers are compliant with these regulatory requirements. However, call recording compliance is a cumbersome regulation; noncompliance can cost banks and financial...

The Regulatory Tortoise and The Technology Hare No doubt you’ve now heard about blockchain – at least the word. The hype cycle has been in full swing since late 2015, so fairly soon, someone from the C-Suite will be asking you about compliant ways to operate that blockchain pilot application going live next month. Blockchain as a disruptive and revolutionary...

Integrating Dangerous Goods Software into Your ERP System Shipping hazardous materials is a complicated, time-consuming process, and today’s ever-evolving regulations make the task even more challenging. Integrating ERP and dangerous goods software systems simplifies hazmat shipping to streamline supply chain operations and maintain regulatory compliance. Dangerous goods (DG) software should be standard for any organization that ships hazardous materials regularly....

How the CEO Can Best Support Compliance Keeping a tight rein on compliance is the name of the game for every business entity, whether early-stage, family-owned or large multinational. And – while it’s the CEO who ultimately sets the tone – the culture of compliance has a strong foundation in the company’s code of ethics and its business conduct. One...

With contributing authors Ali Burney and Nicholas Turner The Office of Foreign Assets Control has just levied a penalty against Exxon Mobil for executing several agreements with Russian oil company Rosneft. The company itself wasn’t the sticking point, though; the agreements might have been fine had they not been signed by Rosneft’s President, who’s recognized by the U.S. as a...

Leveraging COSO’s Internal Control – Integrated Framework Cultures may vary widely, but all organizations should be proactive about building and maintaining a culture of compliance. The COSO Integrated Framework provides extensive guidance on how to accomplish this. Ron Kral offers insights on integrating your company’s C&E program with a control framework. While many organizations have a compliance and ethics program...

How the CEO Can Support Compliance Many executives view compliance as a “check the box” proposition. In this column, LeClairRyan attorneys Brian Lansing and Patrick Hurd argue that a focus on compliance should permeate the entire organization, in much the same way that Amazon obsesses about customer service. It all starts at the top, with the CEO setting the tone....

A Much-Needed Intelligent Approach to Segmentation Anti-money laundering (AML) is a complex and persistent challenge for financial institutions. AI is transforming key elements of the AML workflow and delivering an order of magnitude in performance improvements in the process. Money laundering has become the leading source of compliance fines for North American and European institutions. In 2016 alone, regulators levied...

Here’s How They’re Failing The relationship between compliance officers and the company’s top leadership is a hot one these days, and there are specific ways CEOs can be more effectively supporting compliance practitioners. It’s a complex relationship, but one bears improving in many cases. Avani Desai offers insights into just what executives can do better. When speaking with CEOs and...

How Much Reliance on Technology is Too Much? The last few years have seen a significant rise in regtech, technological solutions for compliance. These solutions can be hugely helpful to companies as their compliance burdens increase in scope and complexity, but they certainly don’t absolve organisations of the responsibility of fostering a culture of compliance. with contributing authors Jenni Hill,...

A Compliance Officer’s Role in Mitigating This Risk Mobile computing presents a unique set of challenges to compliance officers. Our devices are truly omnichannel and not just dedicated to one aspect of our lives.  No organization can be fully compliant with data protection regulations when its staff carry personal devices with sensitive information on them; many of these devices are likely...