- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2021-11-11T16:59:00
A recent case involving discrimination allegations raised by a former compliance executive at Commerzbank serves as a reminder that sometimes people use words that hurt others’ feelings, but it doesn’t always mean the intention is there.
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Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network in issuing a notice of proposed rulemaking that would require financial institutions to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs.
Within two weeks of gaining power, the U.K.’s newly elected Labor government has confirmed its intention to beef up the audit regulator and strengthen corporate governance.
The U.K.’s Financial Conduct Authority asked banks and financial institutions “to do more” to ensure that U.K lawmakers and their families are not treated unfairly.
Top-of-mind issues addressed at Compliance Week’s Third-Party Risk Management & Oversight Summit, held June 3-4 in Atlanta, included safe deployment of artificial intelligence, assessing vendor viability and sustainability, understanding the role of procurement in risk ranking, the intersection (or lack thereof) between data privacy and cybersecurity, and many others.
Anne Morriss, co-author of “Move Fast and Fix Things,” advises compliance officers to tap into curiosity, communicativeness, and comfort with discomfort to build organizational trust, fast.
Regulators and government agencies often speak to the value of empowered corporate compliance programs to advancing their mission. Why not practice what they preach by empowering compliance among their own ranks?
