Compliance risk in Italian banks: the results of a survey

Giuliana Birindelli and Paola Ferretti

Journal of Financial Regulation and Compliance, 2008, vol. 16, issue 4, 335-351

Abstract: Purpose - The objective of this paper is to highlight the results of a survey on compliance practices in Italian financial institutions (Italian banks and branches in Italy of foreign banks). Design/methodology/approach - The survey is carried out through a structured questionnaire, arranged into several sections: general information on the definition and framework of compliance risk, organizational structure, reporting, culture, purpose and tasks of the compliance staff, assessment of the compliance staff performance and of the risk. The survey is mainly developed on two issues: organizational and risk assessment implications. Findings - It is found that many survey participants are responding positively to regulation developments, since there is a widespread recognition of compliance as a key element for creating value and improving reputation. It is also found that the Italian banks surveyed, whose compliance activities have been usually performed by internal audit, dedicate less attention to compliance matters in comparison with the branches of foreign banks. The institutions interviewed underline the need to have clear guidelines from supervisory authorities, so that they can achieve an effective and efficient management of compliance risk. Originality/value - This subject has not been analyzed in depth to date. This paper provides a representative view of the management of compliance risk in Italian banks, thanks to the variety of the issues under observation and the size of the sample.

Keywords: Risk management; Regulation; Banks; Financial control; Italy (search for similar items in EconPapers)
Date: 2008
References: Add references at CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (text/html)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (application/pdf)
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eme:jfrcpp:v:16:y:2008:i:4:p:335-351

DOI: 10.1108/13581980810918404

Access Statistics for this article

Journal of Financial Regulation and Compliance is currently edited by Prof John Ashton

More articles in Journal of Financial Regulation and Compliance from Emerald Group Publishing Limited
Bibliographic data for series maintained by Emerald Support ().