- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2023-03-23T15:22:00
What is compliance resiliency, and why is it crucial for your organization to have it? Recent enforcement examples demonstrate why mapping out a clear business continuity plan can help thwart a risky management reshuffle.
Compliance resiliency is the process of thoughtfully ensuring a firm’s compliance function is not compromised or weakened by the absence of a key employee. That employee might be the only full-time compliance officer in the company, or their compliance responsibilities might be siloed in such a way that no one else knows exactly what they’re doing and how they’re doing it.
A small Puerto Rican bank and a New York-based investment adviser were recently subject to enforcement actions due in part to their failure to understand and plan for the unexpected departure of a key compliance officer.
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Regulators are collaborating—both domestically and internationally—more than ever before. And they expect companies to be doing the same, noted panelists during a session on collaboration between compliance and human resources at Compliance Week’s 2023 National Conference.
Experienced compliance professionals offered career advice and tips for building trust between compliance and the C-suite during a panel discussion at Compliance Week’s 2023 National Conference.
Compliance practitioners learned how to become ethical Jedi masters during a panel discussion on integrating pop culture into training at Compliance Week’s 2023 National Conference.
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network issued an alert to financial institutions about their obligations to report deepfakes, warning artificial intelligence has given bad actors additional tools in their arsenal.
A nationwide rental outlet affiliated with Rent-a-Center and its chief executive have been sued by the Consumer Financial Protection Bureau for allegedly deceiving five million consumers about the terms of credit agreements.
A lack of risk visibility is causing companies to reject customers–and potentially lose money–over fears they might be in danger of violating rules around anti-money laundering and sanctions regulations.
