Everything, everywhere, all at once: The impossible mission of compliance officers

Natalie Mcmanus-Barnett and Olivier Goffard
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Natalie Mcmanus-Barnett: Founder, Innovate Compliance, UK
Olivier Goffard: Head of Compliance & Ethics, Euroclear, Belgium

Journal of Financial Compliance, 2024, vol. 7, issue 4, 353-367

Abstract: This paper explores how the increasing interconnectivity of risks and regulatory interests create new compliance challenges. The paper explains how this causes new challenges for effective compliance risk management, particularly with regard to the definition of compliance risk, which keeps on expanding, and to the growing complexity of determining compliance roles and responsibilities across the organisation. It also offers insights on how AI and technology are actively disrupting compliance operations. As a matter of illustration, the paper considers how non-financial risks such as conduct and environmental, social and governance create cross-enterprise complexities that may be shifting the compliance risk management paradigm. Finally, the conclusion gives practical advice on how the modern compliance officer can stay relevant in a changing world.

Keywords: compliance leadership; compliance forecasting; compliance target operating model; compliance and artificial intelligence; compliance and environmental; social and governance; ESG; compliance innovation (search for similar items in EconPapers)
JEL-codes: E5 G2 K2 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jfc000:y:2024:v:7:i:4:p:353-367

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