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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Neil Hodge2024-04-30T17:25:00
Lloyds Banking Group planned to cut jobs in its risk management function after an internal review found it was a “blocker” to the organization’s strategic transformation, according to a report from the Financial Times.
In a memo seen by the newspaper, Lloyds’ Chief Risk Officer Stephen Shelley said two-thirds of executives believed risk management was blocking progress while “less than half our workforce believe intelligent risk-taking is encouraged.”
The bank was “resetting [its] approach to risk and controls” so Lloyds could “move at greater pace,” with a focus on nonfinancial risks, the memo added.
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News and analysis for the well-informed compliance or audit exec.
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2024-04-12T18:11:00Z By Adrianne Appel
A panel of experienced compliance professionals shared the various approaches they took to build compliance programs from the ground up at Compliance Week’s 2024 National Conference.
2024-03-15T19:27:00Z By Kyle Brasseur
Tanja Cuppen, chief risk officer of ABN AMRO, shared her view on the Dutch bank’s biggest risk focus areas and the accomplishments of her tenure a month ahead of her planned departure.
2024-02-23T12:14:00Z By Kyle Brasseur
Lloyds is the latest U.K. financial institution being probed by the Financial Conduct Authority regarding its anti-money laundering control framework.
2024-06-28T19:30:00Z By Jeff Dale
A Bank of England report warned of private equity risk management deficiencies as interest rates remain stagnant, with international coordination important.
2024-06-20T15:40:00Z By Aaron Nicodemus
Compliance departments at financial institutions must become more involved in ensuring their firm’s operational resiliency to address emerging risks, the Treasury Department’s Office of the Comptroller of the Currency said in its semi-annual risk perspective.
2024-06-07T22:34:00Z By Adrianne Appel
Compliance has been “sleeping on” artificial intelligence, two panelists discussed at Compliance Week’s Women in Compliance Summit. The profession should be positioned to lead on AI governance at the business level.
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