Enterprise Compliance Risk Management

Enterprise Compliance Risk Management
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Bestselling author and professor Ted Malloch calls for real financial reform to restore confidence and fairness to a broken system From Ponzi schemes to the credit crisis to the real estate bubble, the financial industry seems to have lost its way on the road to riches. As private greed continues to undermine the public good, one might wonder what ever happened to business ethics. And how can we reform the global financial system to benefit everyone, rather than just the very lucky few? In The End of Ethics and the Way Back, the bestselling author of Doing Virtuous Business teams up with attorney and Yale University Postdoctoral Fellow, Jordan Mamorsky to examine the most recent failures of business virtue, prudence, and governance—from Bernie Madoff to Jon Corzine and MF Global—before offering a set of structural and holistic solutions for our current ethical crisis in global finance. Features compelling case studies that reveal the saturation of economic vice in global finance Suggests structural reforms to the global financial system that would increase confidence among consumers and encourage ethical behavior among finance professionals Written by Ted Malloch, author of the bestseller Doing Virtuous Business with attorney Jordan Mamorsky Ideal for financial regulators, business students and academics, and professionals in the finance industry

Оглавление

Ramakrishna Saloni. Enterprise Compliance Risk Management

Advance Praise

Preface

Acknowledgments

About the Author

Opening Notes

Design and Structure of the Book

Part One. Introduction to Compliance in Financial Services

Chapter 1. An Overview of Compliance in Financial Services

Chapter 2. Compliance in the Twenty-First Century

Part Two. The What, Why, and Who of Compliance

Chapter 3. What Is “Compliance”?

Chapter 4. Why Is Compliance Needed?

Chapter 5. Who Are the Players in the Compliance Universe?

Part Three. The How of Compliance

Chapter 6. Compliance Framework

Chapter 7. Operationalizing Compliance

Part Four. The Compliance Risk Dimension

Chapter 8. Exploring the Concept of Compliance Risk

Chapter 9. Compliance Risk Management

Part Five. The Real World of Compliance in Financial Services

Chapter 10. Real-Life Issues of Managing Compliance in Financial Services

Chapter 11. Lessons Not Learned

Chapter 12. Practical Solutions to Some Important Operational Challenges

Closing Notes

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The first known compliance breach and regulation violation is that of Adam eating the forbidden apple. Since then, multiple compliance breaches have occurred, with challenging to catastrophic outcomes. Banks and financial services are more vulnerable to the effect of breaches and their consequences, given that they deal in the financial well-being of individuals and the economy. It is slowly dawning on the stakeholders of the industry that proactive management of compliance and the associated risks will be a business multiplier.

Compliance risk management, as a distinct subject, in banks and financial services is young and evolving. Complying with authority, in a narrow sense, has been in place for ages now, but the many dimensions and nuances added due to the exponential increase in the complexity of the financial world have greatly expanded its scope and have brought it to center stage. The creation and elevation of the role of chief compliance officer – the journey from a dusty table in a corner of the office to a place at the C level executives table in the boardroom – speaks volumes about this transition. However, the systemic integration of compliance into the business and strategic fabric of the organization is yet to happen.

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• Active compliance management as “strategic tool” in value creation, preservation, and enhancement

This book contains relevant information for all of the stakeholders of the financial services industry.

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