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Building an effective compliance risk assessment programme for a financial institution

Author

Listed:
  • Nicolas, Stephanie
  • May, Paul V.

Abstract

A Compliance Risk Assessment programme can be a meaningful, utilitarian and genuinely beneficial risk identification and management tool. This paper outlines some key elements and practical considerations for conducting a CRA. By better identifying compliance risks and managing the drivers of these risks and behaviour, a CRA not only helps firms to reduce the occurrence of conduct events, but also enhances the way that firms do business.

Suggested Citation

  • Nicolas, Stephanie & May, Paul V., 2017. "Building an effective compliance risk assessment programme for a financial institution," Journal of Securities Operations & Custody, Henry Stewart Publications, vol. 9(3), pages 215-224, July.
    • Handle: RePEc:aza:jsoc00:y:2017:v:9:i:3:p:215-224
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    More about this item

    Keywords

    compliance risk assessment(s); compliance assessment(s); conduct risk; risk assessment(s); inherent risk(s); residual risk(s);
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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