Putting the science in compliance: Using nonfinancial data to re-engineer compliance risk assessment

Natalie Mcmanus-Barnett
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Natalie Mcmanus-Barnett: Managing Director, Innovate Compliance, UK

Journal of Financial Compliance, 2025, vol. 9, issue 1, 17-31

Abstract: Risk assessment is essential to the compliance toolkit, but it is in need of a rethink. Often annually performed, manually compiled and lacking in credible data, its insights can quickly become obsolete, divorced from day-to-day compliance practices. To manage the reach, complexity and interconnectivity of modern compliance risks, it is paramount that firms evolve their approach, repositioning risk assessment at the heart of decision making and cultivating a model based on real-time, data-informed insight. This essay provides the foundations for such a model, providing future blueprints for an AI-integrated compliance risk assessment centred on nonfinancial data and analytics. This article is also included in The Business & Management Collection which can be accessed at https:// hstalks.com/business/.

Keywords: compliance risk assessment; data-informed risk assessment; compliance risk modelling; compliance risk metrics; real-time compliance; compliance analytics; nonfinancial data (search for similar items in EconPapers)
JEL-codes: E5 G2 K2 (search for similar items in EconPapers)
Date: 2025
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