Converting critical enterprise risks into a usable risk matrix

Janice Powell
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Janice Powell: Senior Compliance Consultant, Core Compliance & Legal Services, USA

Journal of Financial Compliance, 2022, vol. 5, issue 4, 370-377

Abstract: Successful compliance is built upon a solid foundation of risk management. Effective compliance programmes begin with a thorough assessment to identify areas of risk within the organisation. Developing a risk management framework is crucial to an organisation's ability to develop appropriate protocols to identify, monitor, and if needed, mitigate the risks. Aside from the practical benefits a risk assessment can provide, it can also demonstrate to a regulator that a compliance programme is ‘reasonably designed’ to prevent violations of federal securities laws.1 The purpose of this paper is to discuss practical ways to develop and implement a risk management programme as well as conveying identified risks to senior management for use in practical business decisions.

Keywords: Risk management; compliance programme; risk assessment; controls (search for similar items in EconPapers)
JEL-codes: E5 G2 K2 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jfc000:y:2022:v:5:i:4:p:370-377

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