Risk Management
BNP Paribas Replaces Compliance Chief, Overhauls Compliance Department
French banking giant BNP Paribas announced today that it is replacing its top compliance chief and undertaking a major reorganization to strengthen its compliance and internal control functions, following its record $8.9 billion settlement with the Justice Department this month for U.S. sanctions violations. Jean Clamon, who has served as head of group compliance since […]
Study Up: Your Online Learning System May Be Vulnerable to Hack
Online learning is a booming part of compliance training these days—and a seldom-discussed IT weakness in such systems is growing along with it. First, the good news: e-learning for compliance is humming right along. Statistics specifically for compliance are hard to come by, but anecdotal evidence is strong. “In the early days, online training had […]
PwC Appoints New Principal to Risk Assurance Practice
PwC US has named Seth Rosensweig as a principal in the firm’s risk assurance practice to support its growing Advanced Risk & Compliance Analytics service line. Details inside.
Podcast: Boards Talk About Risk, What Are They Doing About It?
“Everybody talks about the weather, but nobody does anything about it.” That popular quote, often credited (incorrectly) to Mark Twain, could be modernized by replacing Mother Nature with cyber-security threats and reputation risk. EisnerAmper – an audit, tax, and advisory firm – has released its fifth annual survey of board members about the risks that […]
BNP Paribas Debacle Offers Lessons in Compliance
Compliance officers hear the story all too often these days: A bank becomes the center of a Justice Department probe for sanctions violations, the press goes on a feeding frenzy, and senior management is left to pick up the pieces—and that’s just the outcome when the investigation ends without charges. French banking giant BNP Paribas […]
Podcast: The Stormy Link Between Hurricanes, Supply Chain Fraud
Hurricane season is upon us and for businesses that may pose more than just transportation headaches and supply chain disruptions. Mark Pearson and Larry Kivett, members of Deloitte’s supply chain forensics team, are sounding the warning that stormy weather can bring with it supply chain fraud. While some companies are bringing their legal, risk, compliance, […]
Lew: Firms Sharing Cyber-Data Need Liability Protection
U.S. Treasury Secretary Jacob Lew is urging financial institutions to develop better protections against cyber-security related thefts, disruptions, and attacks. In a speech Wednesday, he encouraged the financial sector to make use of a new cyber-security framework when evaluating vendors and called upon Congress to help protect firms from liability issues that may arise from […]