The Role of Compliance when Appointing a NED
Do you have a Non-Executive Director (“NED”) on the board or are you thinking of appointing a NED?Some larger financial services organisations are now appointing...
GRC has experience in understanding the Compliance problem and delivers the solution
GRC has experience in understanding the Compliance problem and delivers the solution
Governance Risk And Compliance Ltd., (“GRC”), Founded In
2018
is a consultancy made up of ex industry professionals who have held senior positions and who are seasoned,market professionals. We are here to guide you through the complexities of regulation creating a robust and flexible regulatory risk environment, owned and manged by the business, overseen by Compliance, driven by the culture and governance regime of the firm. GRC will deliver lasting change by creating a risk resilient corporate culture.
There is not a “one size fits all solution” for regulatory risk programmes, so GRC does not provide one. Instead GRC takes the time and care to understand your business, your business requirements, and objectives…
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To take our unique experience and capacity to achieve more with less and act for you as true management consultants to streamline/remove duplicative aspects of compliance risk frameworks, leveraging laws/regulations within innovative processes. Combined this will deliver improved efficiency and effectiveness.
Too many firms’ waste time and money having programmes that are only fit for processing. What is needed is a risk-based approach based on the film’s risk appetite and true risk exposure. A strong governance model is required to elevate risk, discuss risk, and manage risk out. To do this the firm must be prepared to ignore low risk and focus on the medium to high risk that it experiences. Only then are you managing risk and acting with a mind-set, allocating costly resources, to maximise your risk prevention model return.
Change in recent regulation has been fast and furious for many reasons. The credit crunch, EU harmonisation, increased financial crime, BREXIT, COVID 19 are but a few examples and there will always be more. This has led to heightened regulatory expectations with respect to the degree to which firms must focus on compliance and risk as well as the resources dedicated to these disciplines.
The challenge for the smaller firms is often that they cannot compete with the salaries required to pay talent market compliance professionals who come from larger organizations. Vice-a-versa, often market compliance professionals find it difficult to transition into smaller companies. Therefore, there is a shortage of good Compliance (SM16s) and Money Laundering Reporting (SM17s) Officers in the market. Regardless, “Strong” is expected so firms must demonstrate complete and comprehensive regulatory models that serve their business risk profile.Regulators have identified the lack of compliance talent that exists in the smaller firms....
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Do you have a Non-Executive Director (“NED”) on the board or are you thinking of appointing a NED?Some larger financial services organisations are now appointing...
In 2012, I was hired by Getco (the number one algo firm at the time), a firm serving as a market maker for both the buy and sell side of the market, as their Chief Compl...
