A revised “risk retention rule” offered up by federal regulators this week would ease up on proposed requirements for mortgage lenders to maintain a financial stake in many of the the loans they securitize. The retreat ends, for now, a requirement that would have forced homebuyers to offer up at least a 20 percent down […]
Risk Management
Posted inRisk Management
Compliance Professionals in High Demand
It’s a good time to be in the compliance profession. While many people may associate the term “hot jobs” with positions at hip Internet firms or careers as financial wizards, compliance professionals are a hot commodity. Sure, compliance may not be quite as sexy as Wall Street or Silicon Valley, but demand for experienced compliance […]
Posted inAccounting & Auditing
Internal Audit Slowly Shifting to Take on Strategic Risks
The latest data on the state of internal audit suggests the profession has heard the news that it is facing new expectations to take a higher-level view of risk and control, but it is still retooling to live up to them. According to a Thomson Reuters study, internal auditors say they are beginning to shift […]
Posted inInternal Controls
The Battle to Balance Vigilance and Suspicion
While they would never utter the words “Why bother?” aloud, and even suggesting they might think it is bound to be controversial, frustrated financial services professionals can be excused if they occasionally feel this phrase forming in their minds when thinking about their role in the ongoing battle against money laundering. After all, the magnitude […]
Posted inAnti-Bribery
Special Report: Study Finds Big Gaps In Anti-Corruption Compliance Programs
Forty-seven percent of global corporations take no steps to train their third parties and business partners on anti-bribery and corruption efforts, according to a new survey from Compliance Week and Kroll, despite piles of evidence that third parties are one of Corporate America’s biggest bribery risks today. That eye-popping statistic was only one among several […]
Posted inAccounting & Auditing
Survey Says Boards Troubled by Reputation Risk
After financial risk, reputation risk is the biggest concern that keeps board directors awake at night, according to the latest poll from EisnerAmper. In its fourth annual survey of 230 board members from a variety of organizations, the audit firm found 73 percent of board directors said reputation risk is their biggest risk behind financial […]
Posted inInternal Controls
How Compliance and HR Can Get It Together
Compliance and human resources have always had a love-hate relationship. Now some companies are finding that getting them aligned can yield large benefits for both functions and improve the organizational culture. That’s no easy task, however. At many companies, gaps in communication and collaboration between compliance and human resources continue to persist. “In general, there […]
Posted inRisk Management
Companies Transform to Respond to Risks, Survey Says
Responding to risks from global market shifts and continued economic uncertainty, an increasing number of companies are undergoing major transformations to build new business models, tap into new channels and markets, and rethink supply chains and business locations, according to the latest risk-related survey from PwC. The Big 4 firm’s “Risk in Review” study suggests […]