Aug 07, 2013
From the Advisory Institute
One of the major consequences of the financial crisis has been the emergence in the United States of a concentrated legislative and regulatory focus on consumer protection and strong compliance risk management.
Enforcement of compliance with regulations that focus on consumer harm requires not only an entirely new approach to managing risk; more importantly, it requires a renewed focus on core corporate strategies to ensure that they result in business models and practices that improve consumer service and the customer experience.
This paper offers six fundamental steps for financial services organizations to develop a strong compliance management system.