Compliance officers perform a vital role in financial services – after all, the consequences of non-compliance can be severe. However, they face a unique set of challenges. On the one hand, they must find a way through the complexities of the various rules, regulations and best practice guidelines which apply to their business, and maintain an effective and comprehensive compliance programme which is tailored for their firm. On the other hand, they also need to manage the tension between commercial interest and regulatory necessity, and engage with rest of the business to promote the value of an effective compliance department.
This second edition of Essential Strategies for Financial Services Compliance has been fully updated to encompass the current regulatory environment, which has evolved significantly since the first edition was published in 2008. Within this new context, it explains the role of the compliance department and where it fits within the organization, outlines the scope and limits of the department's responsibilities, and suggests how its activities can be communicated effectively to the rest of the firm.
Extensive guidance is provided on the day-to-day application of regulatory requirements, as well as advice on what to do when things go wrong, and strategies for dealing with unusual problems. It provides answers to questions such as:
- What should you do if your advice is ignored?
- How can you establish your bearings when you venture into an area of regulation which is unfamiliar?
- How can you engage the rest of the organization and get the business on your side?
With numerous case studies, hints and tips, and examples arising from the extensive experience of the authors, Essential Strategies for Financial Services Compliance is the complete guide for anyone working in compliance, as well as those outside the compliance function who want or need to understand it better.
