Compliance

A Tectonic Shift in Operating Models? Financial services has always been a heavily regulated industry. And while anti-money laundering and counter-terrorist financing regulations are getting more stringent by the day, financial criminals continue to find ways to bypass the strict monitoring rules employed by banks. Banks face increased regulatory scrutiny, heavy fines for compliance breaches and reputational harm in the...

The Need for Regulatory Support Financial institutions and federal bank regulators can integrate location intelligence as a regulatory technology (Regtech) solution to ensure compliance with anti-money laundering (AML) standards, financial inclusion requirements, and fair lending regulations. This article outlines the key benefits for banks and regulatory authorities of integrating geospatial technology. Geospatial technology — or technology focused on the collection,...

Is Your Program Adaptive? True Office Learning works with major corporations to provide detailed compliance insights through data analytics. Over the years, they’ve learned a lot about how employees learn and the benefits of creating adaptive learning environments. This kind of environment is key in knowledge acquisition and retention, and it can be highly helpful in compliance training. Building a...

As a marketer, I’ve had the opportunity to attend a lot of ethics and compliance (E&C) conferences and events around the United States in the past 24 months. At these events, I’ve noticed that Chief Compliance Officers and other E&C professionals who attend generally aren’t there to see product demos from vendors. They are there to meet their peers, network,...

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....